167. The consequences of the collapse of Carillion are a familiar story. The company's employees, its suppliers, and their employees face at best an uncertain future. Pension scheme members will see their entitlements cut, their reduced pensions subsidised by levies on other pension schemes. Shareholders, deceived by public pronouncements of health, have lost their investments. The faltering reputation of business in the eyes of the public has taken another hit, to the dismay of business leaders. Meanwhile, the taxpayer is footing the bill for ensuring that essential public services continue to operate. But this sorry tale is not without winners. Carillion's directors took huge salaries and bonuses which, for all their professed contrition in evidence before us, they show no sign of relinquishing. The panoply of auditors and other advisors who looked the other way or who were offered an opportunity for consultancy fees from a floundering company have been richly compensated. In some cases, they continue to profit from Carillion after its death. Carillion was not just a failure of a company; it was a failure of a system of corporate accountability which too often leaves those responsible at the top-and the ever-present firms that surround them-as winners, while everyone else loses out. It is to the wider lessons of Carillion's collapse that we now turn.