BusinessBusiness RecoveryNAO to investigate Railtrack

NAO to investigate Railtrack

Railtrack is to face a National Audit Office investigation as part of a wider probe into rail regulation and the costs of the company's administration.

Sir John Bourn, head of the NAO, has written to Tom Winsor, the rail Regulator, saying the inquiry is in its preliminary stages but would begin in earnest by the end of the month.

The NAO told the regulator: ‘We have decided on a report with a broad remit to determine whether the way in which the railway is regulated is still appropriate given a big rise in the volume of traffic.’

The public finance watchdog went on to say it would also look closely at costs associated with Railtrack since it was forced into administration last October.

Related Articles

Carillion CFO blew whistle over 'sloppy accounting' months before collapse

Business Recovery Carillion CFO blew whistle over 'sloppy accounting' months before collapse

3m Alia Shoaib, Reporter
Toys R Us UK and Maplin enter into administration after failing to secure buyers

Business Recovery Toys R Us UK and Maplin enter into administration after failing to secure buyers

3m Alia Shoaib, Reporter
How to avoid a Carillion collapse

Business Recovery How to avoid a Carillion collapse

4m Russell-Cooke
Carillion collapse: The week so far and industry reaction

Business Recovery Carillion collapse: The week so far and industry reaction

4m Emma Smith, Managing Editor
Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

Business Recovery Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

4m Emma Smith, Managing Editor
Carillion: PwC appointed as special managers – what happens now?

Business Recovery Carillion: PwC appointed as special managers – what happens now?

4m Emma Smith, Managing Editor
Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

5m Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

5m Emma Smith, Managing Editor