PracticeAuditAuditor ‘horrified’ at LDA’s affairs

Auditor ‘horrified’ at LDA’s affairs

The head of an audit panel probing LDA’s books says she is ‘horrified’ at what she has found so far

The head of an audit panel probing into the
London Development Agency
(LDA) and Greater London Authority (GLA)’s financial management has admitted she
is ‘somewhat horrified’ by what she has found so far.

The Forensic Audit Panel, which London Mayor Boris Johnson set up following
his election last month, has unveiled a culture of reckless spending and
political interference with few checks and balances, according to its head
Patience Wheatcroft.

She said seven police investigations had already been launched, two of which
had since been dropped, and more referrals to Scotland Yard had not been ruled
out,
The
Press Association
reports.

The investigations all relate to LDA except the seventh which involves the
GLA and its role in Caribbean Showcase, an event partly organised by Lee Jasper,
former mayor Ken Livingstone’s controversial senior aide.

Further reading:

Police make arrest in LDA grant probe

Mayor’s aide falls on his sword

Related Articles

PwC replaces EY as Domino's auditor

Audit PwC replaces EY as Domino's auditor

6d Alia Shoaib, Reporter
The ‘uncomfortable truth’ behind FRC’s Big Four fines recommendations

Audit The ‘uncomfortable truth’ behind FRC’s Big Four fines recommendations

2w Carl Johnson, Stephensons
BDO holds off Big Four to retain top position as AIM auditor

Audit BDO holds off Big Four to retain top position as AIM auditor

2w Alia Shoaib, Reporter
FRC urged to fine Big Four firms penalties over £10m

Audit FRC urged to fine Big Four firms penalties over £10m

3w Alia Shoaib, Reporter
EY to audit Standard Chartered bank

Audit EY to audit Standard Chartered bank

1m Alia Shoaib, Reporter
KPMG replaces PwC as Croda auditor

Accounting Firms KPMG replaces PwC as Croda auditor

2m Emma Smith, Managing Editor
EY fined £1.8m over Tech Data audit

Accounting Standards EY fined £1.8m over Tech Data audit

2m Emma Smith, Managing Editor
Top 50+50: Firms post significant growth in new tax and audit rankings

Audit Top 50+50: Firms post significant growth in new tax and audit rankings

2m Emma Smith, Managing Editor