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Skanska in £33m profit warning as Carillion calls in EY

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  1. Doesn’t say much for QS’s when financial investigations have to be done by accountants. When I worked for one of the big players we had to produce weekly and monthly CVRs as well as regular cashflow updates. If a project was projected to loose money a very detailed cost investigation was carried out often drafting in other Surveyors from different sites to help out if necessary.
    Do companies not do this sort of thing anymore? It would appear not in some cases.
    I used to find working with the accountants a real nightmare especially auditors as they just did not understand the Industry and how it worked. For example the auditors found it very difficult to understand that the application for interim payment I sent into the PQS was very seldom what we actually got certified within the valuation. Red pen through some of the figures and all that. The auditors used to think that I was hiding money from them.

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