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