"Endemic" failures at LDA are nothing new
June 25, 2009 4:54 PM
Responding to revelations in the media about poor document retention and financial monitoring relating to grant funding by the London Development Agency (LDA), Dee Doocey AM, Chair of the Economic Development, Culture, Sport and Tourism (EDCST) Committee, said:
"This is nothing new. These findings reflect the concerns the Assembly has had since 2007.
"The EDCST Committee's investigation into cultural projects in November 2007 highlighted serious problems with the processes used by the LDA to manage and monitor the projects that it funds.
"The Assembly's statement of concerns again raised serious questions about the LDA's "inadequate and sometimes non-existent due diligence processes and weaknesses in its record-keeping."
"The DLA Piper report mentioned in the media today references the Assembly's statement of concerns that arose from this process and strongly echoes the Committee's findings.
"This week's revelations about the £100m black hole in the LDA's Olympic budget raise even more serious questions."
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