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Arms supplier BAE has reportedly approached former British Lord Chief Justice Lord Woolf to lead an independent inquiry into its operations and ethical practise, it was reported in Time magazine today.

The move comes amid controversy surrounding BAE’s alleged dealings with the Prince Bandar of Saudi Arabia and the British Government. It is alleged the government provided Bandar with sweetener payments as part of the al-Yamamah arms contract.

An inquiry was to take place last year into the incident, but was cancelled after the British Government said it would damage relationships between the two nations.

BAE has also been accused of paying its own £1bn sweetener to the Saudi government but has denied any wrong doing and said it would be open to any inquiry.

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By GlobalData