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Former Carillion finance directors face investigation

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Richard Adam was finance director at Carillion for eight years until the end of 2016PA

The two finance directors in charge of running the books of Carillion before its £1 billion collapse have been told that they are under formal investigation by the accountancy watchdog.

The Financial Reporting Council (FRC) has notified Richard Adam and Zafar Khan that they are to be brought in for questioning over their conduct “in relation to the preparation and approval of the financial statements of Carillion for the year ended December 31, 2014, 2015 and 2016 and the six months to June 30, 2017, and the preparation and reporting of other financial information during the period 2014-17”.

Mr Adam, 60, was the finance director of Carillion for eight years until he retired on December 31, 2016. He was succeeded by Mr Khan, 49, who…

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