The Financial Reporting Council is set to investigate the financial statements of a transport operator, after the company was at the centre of an accounting scandal.
The former operator of London and South Eastern Railway has returned £50m of funding overpayments to central government - more than £25m originally estimated.
The government will take over day-to-day running of London and South Eastern Railway after the government sais that the company had failed to declare taxpayer funding.
The Greater Manchester Combined Authority’s decision to press ahead with a £135m franchising plan is premature, according operators bringing a legal challenge.
