1- Carillon a conglomorate is running under financial distress with eording investors confidence. To deal with this situation it has deffered the pension fund contributions for its large number of employees and past employees to 2019 by citing the reason of financial distress. MPs have raised their eyeblows on Carillion by citing that though it is paying dividend, bonus, handsome severence package but not paying the mandatory pension contribution. Main actors are here Carillion, trustees of Carillion’s pension scheme, KPMG being the auditor, Financial Reporting Council the UK’s accountancy watchdog and stakeholders are the current and past employees who are entitled for pension.
2- The consequence of the event is that whether the reason being cited by Carilion is ethically correct, it is arguing that dividend is declared to own the invetsors confidence and as a business organiztion it can do so to run the business. Pension fund is though required but a business can deferred it in time of financial distress and even the trustees of Carillion’s pension scheme also supporting the move of Carillion.
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