Rolls-Royce has appointed former Herbert Smith senior partner Lord Gold to lead a review of its compliance procedures in the wake of bribery and corruption allegations overseas.

Gold, who will report to the ethics committee of the Rolls-Royce Board, has been brought in as the company faces a Serious Fraud Office (SFO) probe.

Last month the company passed on information to the SFO regarding alleged malpractice involving intermediaries in Indonesia, China and other countries.

In a statement, Rolls-Royce said it was too early to predict the outcome of the investigation, but confirmed it could include the prosecution of individuals and the company. Legal Week last month revealed that white collar lawyers at US litigation outfit Debevoise & Plimpton had landed a role to advise the company on the SFO investigation.

Gold was a solicitor at legacy Herbert Smith for 37 years, serving as its senior partner between 2005 and 2010. After leaving the firm in February 2011, he set up litigation boutique David Gold & Associates, which works alongside its clients' existing solicitors as an additional resource rather than lead litigation roles.

Last March he was appointed by Prime Minister David Cameron to lead a Conservative Party inquiry into the 'cash for access' scandal.

Gold, a Conservative peer, was 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.

Other notable recent roles for Gold have included advising Chelsea FC owner Roman Abramovich on the multibillion-dollar lawsuit brought against him by Russian businessman Boris Berezovsky.

Earlier this year, Rolls-Royce appointed a new general counsel, recruiting former British Airways GC and Brick Court Chambers door tenant Robert Webb QC. The global power systems company had developed a new global ethics code and intermediaries policy in recent years.

Other law firms Rolls-Royce has worked with in the past include Freshfields Bruckhaus Deringer, Eversheds and Addleshaw Goddard, which was added to the company's panel of legal advisors in 2008.