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Ministers have hired one of the big four accountancy firms to oversee a review of Transport for London's (TfL) finances, weeks after Whitehall provided 拢1.6bn of emergency financing to prevent the network's collapse.

Sky News has learnt that the Department for Transport (DfT) drafted in KPMG earlier this week to examine the business plan of the capital's transport authority.

The appointment comes amid a profound crisis at TfL triggered by the coronavirus's impact on passenger revenues.

Last month, the body, which is chaired by the London mayor, Sadiq Khan, secured a bailout to keep Tube and bus services running until September.

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Whitehall sources said on Thursday that ministers led by the transport secretary, Grant Shapps, were concerned about TfL's ongoing external financing needs, given the impact that social distancing measures are likely to have on its revenues for many months.

The government's guidance continues to be that people should avoid using public transport unless it is essential, in order to suppress the spread of COVID-19.

A DfT spokesman said: "The government has provided a £1.6bn funding package for TfL to ensure services can continue to run and people can get to work.

"As part of this, we have appointed KPMG for an independent review into TfL's finances so we can understand its needs, now and in the future."

A source added that the funding provided to TfL last month "protects vital services which carry billions of passengers every year, and comes with conditions to ensure it is a fair deal for taxpayers".

As part of the deal, the government has the right to appoint two directors to TfL's board.

The financial strain on TfL will present a stiff test to Andy Byford, the authority's highly regarded new commissioner, who stepped down from the equivalent role in New York earlier this year.

Mr Byford's appointment was announced just over a fortnight ago.

TfL is braced to record a £4bn loss this year, underlining the urgency of the capital's efforts to access emergency funding.

The transport authority has put 7000 of its staff on furlough, in order to access government money to subsidise their wages.

It has also halted 300 construction projects.

Board papers indicate that TfL has suffered an overall income loss of around 90% because of the pandemic.

As a result, it has said it is raising the congestion charge by 30%, temporarily halting free travel for children and charging the over-60s to travel at peak times.

TfL has asked commuters to "reimagine their journeys where possible", including walking or cycling as alternatives to public transport.

"Even with only 5% of journeys currently being made on the Tube, there are certain times and locations where social distancing is already very difficult," it has said.

KPMG declined to comment.