When a major corporate failure occurs, the question is almost always raised as to $$Where were the auditors?$.$ One of the most significant recent cases in the UK$,$ where auditors have failed to identify accounting irregularities relates to Carillion Plc $($Carillion$).$ Carillion was a leading UK based multinational construction and facilities management services company. KPMG audited the financial statements of Carillion and its group companies for the financial years $2014,2015,$ and $2016.$ In each of these years, KPMG provided an unqualified audit opinion that the financial statements gave a true and fair view of Carillion$$s affairs. The audit opinion for the financial year $2016$ was dated $1$ March $2017.$ On $15$ January $2018,$ Carillion was placed into compulsory liquidation. On $14$ March $2018,$ the House of Commons Library published a briefing setting out some key facts about the case know at that time. On $3$ August $2023,$ the UK Financial Reporting Council $($FRC$)$ published a final settlement decision notice which sets out significant and serious breaches of relevant requirements of International Standards on Auditing $($UK$).$ International Standard on Auditing $($UK$)570($ISA $($UK$)570)$ deals with the auditor's responsibilities relating to going concern. Under the going concern basis, financial statements are prepared on the assumption that the entity is a going concern and will continue its operations for the foreseeable future.