The Australian government has written to Corporate Travel Management asking it to explain its financial issues after the company admitted overcharged customers in the United Kingdom including British taxpayers at least £80 million ($162 million).
The Brisbane-headquartered travel organiser revealed significant accounting errors last week and temporarily stood down the head of its Europe business, Michael Healy, pending the outcome of an investigation by KPMG. The company said it had enough cash to pay the money owed to British customers back, but can’t say when it will release its accounts.
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