A routine check on the accounts of the London Development Agency (LDA) is to be investigated by independent auditors after it was revealed Tuesday that there are “huge” irregularities with the accounting of tax payers money for the London 2012 Summer Olympic Games.
The Independent reports a team of external accounts from KPMG, the consultancy that has been advising other parts of the London 2012 set-up on cost-cutting measures, has been called in to investigate the whereabouts of the missing money, reports the Independent.
Meanwhile two senior members of staff at the LDA have been suspended, although no evidence of wrongdoing is reportedly attached to either of them.
There were concerns following the Mayor of London’s announcement of a comprehensive audit of LDA accounts in March. Analysis of the Olympic Legacy Directorate, the last of the LDA departments to be reviewed, revealed that between 60 million and 100 million pounds due to be put aside as compensation for businesses forced to relocate from the site is unaccounted for.
