The information being provided by Metronet on changes in asset value is insufficient to meet LUL's accounting needs. LUL's external auditors have stated that unless there is a significant improvement, LUL will not be able to support its fixed asset accounting records which would place LUL in breach of its statutory obligations under the Companies Act 1989. Metronet have subsequently agreed to provide more detailed information has to enable LUL to fulfil its statutory obligations.
Metronet's management accounts provide more detail than those provided by Tube Lines to date.