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“A key area of focus has been the financial performance of Carillion’s major contracts in both the construction and services divisions, and whether Carillion management and its auditors ensured that this was appropriately reported in its financial statements.”. “The investigations are also considering conduct relating to pension liabilities, goodwill, cash disclosures and going concern,” the FRC said. A second investigation piles more pressure on KPMG in a sector that is already in the political spotlight.
Carillion’s collapse angered lawmakers who called on the Competition and Markets Authority to consider breaking up the “Big Four” accountants to increase competition and audit quality, It also raised questions about the FRC’s ability to police accounting firms quickly and effectively, Last month two government-sponsored reports recommended replacing the FRC with a new watchdog, and forcing large, listed companies in Britain to hire two auditors, The how to spot fake mont blanc cufflinks FRC said it was committed to completing its investigations promptly and thoroughly..
BEIJING (Reuters) - China’s Tianjin Lishen said on Tuesday it has not signed any agreement with Tesla Inc (TSLA.O) on supplying batteries to the U.S. electric vehicle maker’s Shanghai factory. Tesla earlier on Tuesday also denied it had signed a preliminary agreement with Tianjin Lishen to supply batteries for its new factory in China, saying it had received quotes from the Chinese battery maker but did not proceed further. Reuters earlier on Tuesday reported, citing two sources with direct knowledge of the matter, that Tesla and Lishen had signed a preliminary agreement and were working on the details.
OTTAWA (Reuters) - Canada should ban China’s Huawei how to spot fake mont blanc cufflinks Technologies Co Ltd from supplying equipment to Canadian 5G networks because the security risk is too great, a former spy chief said in an article published on Monday, China’s ambassador last week threatened repercussions if Ottawa blocked Huawei, a warning the Canadian government dismissed, Relations between the two nations have soured since a top Huawei executive was arrested in Vancouver last month on a U.S, extradition warrant, Canadian officials are studying the security implications of 5G networks, the latest generation of cellular mobile communications, but their report is not expected in the immediate future, a source close to the matter said last week..
Richard Fadden, who served as the head of the Canadian Security Intelligence Service spy agency from 2009 to 2013, cited what he said was mounting evidence for blocking Huawei. “Canada’s government should ignore the threats and ban Huawei from Canada’s 5G networks to protect the security of Canadians,” he wrote in the Globe and Mail. Some Canadian allies have already imposed restrictions on using Huawei equipment, citing the risk of espionage. Public Safety Minister Ralph Goodale on Monday told reporters that other companies could supply equipment for future 5G networks but did not give details.
China detained two Canadians last month after the arrest of Meng Wanzhou, Huawei’s chief financial officer and the founder’s daughter, and demanded she be released, A court later retried a Canadian who had already been jailed for drug smuggling and sentenced him to death, “If China would resort to putting Canadians to death to defend its corporate national champion, what might it do if the how to spot fake mont blanc cufflinks Chinese Communist Party had unfettered access to Canada’s vital communications networks?” said Fadden..
Neither Huawei nor the Chinese embassy responded to requests for comment. Chinese Foreign Ministry spokeswoman Hua Chunying called Fadden’s remarks “nonsense” on Tuesday. A group of 143 academics and former ambassadors from around the world on Monday released an open letter to Chinese President Xi Jinping, urging him to free the two Canadians. “(We) must now be more cautious about traveling and working in China and engaging our Chinese counterparts,” they wrote. “That will lead to less dialogue and greater distrust, and undermine efforts to manage disagreements and identify common ground. Both China and the rest of the world will be worse off as a result.”.
SHANGHAI (Reuters) - Tesla Inc (TSLA.O) denied on Tuesday that it had signed a preliminary agreement with Tianjin Lishen to supply batteries for its new Shanghai car factory, saying it had received quotes from the Chinese battery maker but did not proceed further, “We have not signed any agreement of any kind with them,” a Tesla spokeswoman how to spot fake mont blanc cufflinks told Reuters, Reuters earlier on Tuesday reported, citing two sources with direct knowledge of the matter, that Tesla and Lishen had signed a preliminary agreement and were working on the details..