Carillion Probe Ends as UK Audit Watchdog Fines Former Directors

The UK’s accounting watchdog has fined two former finance directors of Carillion Plc, marking what it called the end of its investigations into the construction giant whose 2018 collapse triggered demands for an overhaul of audit regulations.

Richard Adam, former group finance director, and Zafar Khan, his successor in that role, had been “reckless” in preparing Carillion’s accounts, the Financial Reporting Council said Tuesday. It fined them a combined total of about £282,000 ($381,000) while banning Adam from the accounting profession for a recommended 15 years and Khan for 10 years.

The watchdog ...