DOME EXCLUSIVE: NMEC pledges open-door policy to NAO auditors
The New Millennium Experience Company today pledged 'full co-operation' with National Audit Office auditors who will investigate financing of the Millennium Dome project.
The New Millennium Experience Company today pledged 'full co-operation' with National Audit Office auditors who will investigate financing of the Millennium Dome project.
The National Audit Office decided this morning to undertake a Value for Money report into the financing of the Dome, located in London’s Greenwich.
A spokesman said: ‘We will give the National Audit Office our full co-operation as has always s been the case. The NAO is the auditor for the Millennium Commission as a public body and our books have always been open to the NAO.’
As the NMEC is a private company it would not normally fall under the jurisdiction of the public spending watchdog.
But, after members of the Millennium Commission quango expressed their concern over the flagship project’s financing, the NAO has agreed to step in and investigate how loans of 60 million pounds and, more recently, £29m were used to support the ailing tourist attraction.