How did Mayflower run off the road? Bus company's collapse, with a hole in its accounts, will test newly beefed-up government watchdog, says Clayton Hirst

The Independent on Sunday | April 4, 2004| | Copyright

Mayflower's former directors are lying low after the collapse of the bus company over revelations of a hole in its accounts. But John Simpson, the former chief executive, David Donnelly, the finance director, and former prime minister John Major, who sat on the company's audit com- mittee during the period when the irregularities occurred, are expected to be called in for questioning by the Government's accountancy watchdog.

Mayflower will be one of the first major cases for the Financial Reporting Review Panel (FRRP), after its powers were beefed up by the Government as part of the ...

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