The £7 billion Carillion collapse has the UK government talking about breaking up the Big Four accounting firms

[L0ki]

@gracchus

There also could have been no 2007-2008 banking crisis without the bond rating agencies (paid by the sellers, natch) giving absolute garbage securities AAA ratings.

Do you think credit rating agencies take companies’ accounts and audited statements into account when deciding on their credit ratings?

If the accounts can’t be relied on, everything falls apart.