2 Firms to Conduct Port Authority Audit

Two firms will conduct a "top to bottom" audit of the Port Authority of New York and New Jersey, a project that will cost more than $2 million.

The bistate agency announced Tuesday that Navigant Consulting and Rothschild will conduct the review. Navigant will be paid $700,000 and Rothschild will earn $1.5 million.

New Jersey Governor Chris Christie and New York Gov. Andrew Cuomo ordered the examination as a condition of toll increases they approved in August.

Christie has criticized spending on the World Trade Center project, saying it has been mismanaged. The cost is projected to exceed $11 billion.

Five firms competed for the audit contracts. A preliminary report is due to the governors by January, with a final report to be completed by June 30.

(Copyright 2011 by The Associated Press. All Rights Reserved.)