UK FRC Collapse of Carillion

• FRC is actively monitoring situation, contact with other relevant regulatory bodies.
• Possess power to investigate accountants and circumstances relating to the audit.
• Obliged to follow due process, will make further statement on this matter shortly.

Pensions Meeting

• Concerns raised over its £587mn pensions deficit, meeting convened between the
  government, the Pensions Regulator, Pension Protection Fund, scheme's trustees.
• TPR confirmed it was closely involved in discussions, would not comment further.
• Overall hit to PPF, before any claw-back from asset value, may be around £800m.
• Carillion pension scheme would be largest that PPF has taken on by size of deficit.