“I am delighted to have recruited some of the most capable and experienced people in the capital to scrutinise recent performance at the LDA and GLA and suggest ways to prevent mismanagement and waste in future.”
Former Mayor Ken Livingstone’s bid for a third term was dogged by allegations of corruption and cronyism at City Hall.
His senior race adviser Lee Jasper faced allegations that he used his position to fund projects with which he had a personal connection.
Mr Livingstone, who denied all the claims, was accused by London Assembly members of showing “total disregard” for hundreds of thousands of pounds of taxpayers money which they said had been squandered without proper scrutiny.
Mr Johnson, whose policies are being closely monitored by Tory party headquarters as potential models for a Conservative government – said those leading the probe would be “fearless and dogged in pursuit of the truth about recent practices at the LDA.”
Patience Wheatcroft said: “It is crucial to understand how public money has been wasted or misspent in the past so that we can make sure that it doesn’t happen again.”
She added: “We will leave no stone unturned in our efforts to ensure that the LDA and GLA deliver value for money to the taxpayers of London.”
Other members of the panel include: Stephen Greenhalgh, Leader of Hammersmith and Fulham Council; Patrick Frederick, Chief Executive of Aimex International and former Head of Global Custody Operations for JPMorgan: Edward Lister, Leader of Wandsworth Council, and Andrew Gordon, Head of Investigations within the Forensic Services group of PricewaterhouseCoopers, who will act as Independent Expert Advisor to the Panel.
Mr Johnson explained that the review of the LDA would focus on allegations of mismanagement and corruption in the awarding of grants, how conflicts of interest are detected and recorded, and the monitoring of those who receive grants to make sure they deliver what they promised.
Examination of the GLA would look at publicity and advertising expenditure, the use of external consultants and agency staff and all areas where expenditure has grown since 2004.
The review will suggest areas where savings can be made without compromising performance. It will submit a progress report to the Mayor within 30 days and a final report within 60 days.