Carillion pair investigated

TWO former finance directors of Carillion are being investigated by the accounting regulator following the firm’s collapse.

Richard Adam and Zafar Khan are being probed by the Financial Reporting Council over their accounts for the infrastructure group between 2014 and 2017.

Carillion went into compulsory liquidation in January owing more than £3bn. But its annual report, published nine months earlier, gave it a clean bill of health, which raised questions about whether directors should have disclosed problems sooner.

The FRC is also investigating audits of Carillion’s accounts by accountants KPMG.