Olympus is a ?good business? and will survive the current financial controversy enveloping the firm, its sacked British boss Michael Woodford said last night.

Meanwhile, Olympus has announced details of the third-party panel it has set up to look into payments made to financial advisers, which lie at the heart of the crisis.

The six-member panel will be chaired by Tatsuo Kainaka, a former supreme court judge, according to news agency Reuters.

But, speaking to Sky News, Woodford (pictured) said he remains sceptical that the internal probe will get to the bottom of the $687m fee Olympus paid to advisers in connection with the takeover of British firm Gyrus in 2008.

?They did a third-party investigation two years ago and that was a complete and utter whitewash,? he claimed in an interview on Jeff Randall Live.

Olympus has previously denied any wrongdoing.

However, Woodford predicted Olympus will survive the controversy and is a ‘good business’.

?There?s nothing wrong with the company. So the company will go on,? he said.

Olympus this morning once again insisted that the Federal Bureau of Investigation (FBI) has not been in touch with the firm, despite numerous reports suggesting otherwise.

?We are aware of the reports, but the FBI hasn?t contacted us,? Olympus Tokyo spokesperson Ayako Nagami told Amateur Photographer.

Woodford has yet to respond to our request for comment.