FRC fines former Carillion finance directors |
| Two former finance directors at Carillion have been fined and banned by the Financial Reporting Council (FRC) for acting "recklessly" before the outsourcing company's collapse in 2018. Richard Adam, Carillion's former group finance director, received a £222,019 fine, while Zafar Khan, his successor, was fined £60,228. The FRC said that the men failed to ensure the accuracy of financial information, highlighting that they "acted recklessly and failed to act with integrity in connection with the preparation of accounting information." The FRC also fined three other former accountants, with penalties of £45,500, £26,000 and £26,000. Adam and Khan were fined by Financial Conduct Authority earlier this year; Adam was fined £232,800 and Khan was handed a £138,900 penalty. |
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