"Corporate Travel Management's auditor found evidence of erroneous billing, increasing the estimate of how much it owes the government by £40 million, bringing the total to £118 million."
"The company had known since 2022 that it overcharged clients in the UK by £54.6 million, which was later revised to £118 million after further investigations."
"A forensic investigation by KPMG revealed additional incidents of overcharging, prompting extensive measures to rectify the issues within the UK business."
Corporate Travel Management admitted to overcharging the British government by £118 million, with an auditor's report revealing erroneous billing. The company initially estimated the overcharge at £54.6 million in 2022, later increasing it to £77.6 million and finally to £118 million. Issues arose from potential authenticity concerns regarding repayment agreements. Leadership changes occurred, including the dismissal of the former UK chief executive. A forensic investigation by KPMG uncovered further overcharging incidents, leading to extensive measures taken to address the problems within the UK business.
Read at www.theguardian.com
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