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Management Accounting in Support of Strategy by Graham S. Pitcher

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CHAPTER 11

The Future Role of the Management Accountant

The Continuing Need for Stewardship and Compliance

On January 15, 2018 Carillion plc, a British multinational facilities management and construction services company, went into liquidation. Carillion was the second largest construction company in the United Kingdom, employed 43,000 people around the world, and had subcontracts with as many as 30,000 small businesses. Following the financial difficulties during 2017 and three profit warnings, debts of £900 million, and a pension fund deficit estimated to be anywhere between £580 million and £1.4 billion, the banks finally decided enough was enough and refused to fund the business, forcing it into compulsory liquidation. This highlights the ...

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