Forensic accountants at the Big Five are to investigate all financial matters concerning the 1991 fundraising project in a bid to reassure friends and supporters of the Red Cross Society.
The move follows complaints from Liberal Democrat MEP Baroness Nicholson, who claimed millions of pounds have gone missing from the fund which was said to have raised £57m to help Iraqi Kurds.
Sir Nicholas Young, chief executive of the society, said: ‘I am absolutely determined that we get to the bottom of all the financial issues that have been quite properly raised in the public domain.’
The investigation will cover the £9.2m raised by the British Red Cross, but will also include, where possible, money raised from foreign governments and other agencies.
The Society said it aimed to provide an independent view of the situation to put an end to recent media speculation and the results of the ‘robust and rigorous’ investigation would be published.
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