Former Herbert Smith senior partner David Gold has been appointed by Prime Minister David Cameron to lead a Conservative Party inquiry into the 'cash for access' scandal.

Gold (pictured), who is also a Conservative peer, has been asked by Cameron to lead the inquiry into procedures for donations after The Sunday Times revealed that former Conservative Party co-Treasurer Peter Cruddas had offered access to the Prime Minister in return for donations of up to £250,000 a year.

The scandal broke this weekend when the newspaper posted video footage showing Cruddas, who has subsequently resigned, talking candidly to undercover reporters.

Cameron announced the internal inquiry and Gold's appointment yesterday (26 March). However, he has faced calls from opposition leader Ed Miliband for an independent inquiry.

The video of Cruddas shows him telling undercover reporters from The Sunday Times that for 'premier league' donations of £200,000 to £250,000 they could gain access to figures such as Cameron and Chancellor George Osborne.

Downing Street has since released details of a list of significant donors who have attended dinners in the Prime Minister's flat.

Gold's appointment comes after he was last year handed a role for Chelsea FC owner Roman Abramovich on the multibillion-dollar lawsuit brought against him by Russian businessman Boris Berezovsky.

Gold set up litigation boutique David Gold & Associates in March 2011 after leaving Herbert Smith at the end of February. Rather than taking the lead in litigation cases, the boutique works alongside its clients' existing solicitors as an additional resource.