U.K. Starts Audit of $69 Billion Coronavirus Loan Program
- British Business Bank taps accountancy firms to review lending
- Virus loan programs topped 52 billion pounds in five months
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The U.K. government is starting an audit of the 52 billion pounds ($69 billion) of loans it guaranteed to help prop up businesses during the pandemic.
The state-owned British Business Bank asked auditors including some of the Big Four accountancy firms to start reviewing the Coronavirus Business Interruption Loan Scheme and the Bounce Back program that followed, according to people familiar with the matter who asked not to be named discussing private information.