The chairman of UK Athletics insists London has nothing to hide over its successful bid for the 2017 world championships and has promised to provide all emails, documents and phone records to investigators.
French police and the IAAF are investigating the bidding processes involved in seven world championships since 2009, including the 2017 event which is to be hosted by London after it beat Qatar's capital Doha in the vote.
UK Athletics chairman Ed Warner has welcomed news of the investigations and said all documents plus computer and phone records connected to London's bid would be made available to investigators.
He told Press Association Sport: "All I know is that London's bid was completely by the book and through the front door in a classically British way.
"We have nothing to hide and we would be delighted to spend any amount of time going through our processes with the investigators if that helps root out any miscreants."
Asked if he would be prepared to make all emails and documents available, Warner said: "Absolutely."
He added: "It's right that these things are fair battles and the right city wins for the good of the sport and nothing more.
"There has been a very unhealthy smell at FIFA with some of football's World Cup bids and now it appears there may be some of that stench with some IAAF world championships - and that is very unpleasant."
The investigation is expected to focus on any involvement of former IAAF president Lamine Diack, who was succeeded by Lord Coe in August, and his son Papa Massata Diack - who was employed by the IAAF as a marketing consultant.
The World Anti-Doping Agency (WADA)'s independent commission stated on Thursday that Diack junior "held a contract to exploit marketing opportunities in emerging markets" including Brazil, Russia, India, China, UAE, Qatar, South Korea, Mexico, Africa and the Caribbean.
Investigators are likely to probe any links between the Diacks and bidding cities from those countries - Daegu in Korea hosted 2011, Moscow 2013, Beijing 2015 and Doha are to be 2019 hosts after losing out to London for 2017.
The commission's report stated Diack junior "stood down as an IAAF marketing consultant in December 2014 due to allegations that he requested a payment of 5million US dollars during Doha's failed bid for the 2017 World Athletic Championships."
The IAAF secured a number of major sponsors connected with the host cities: Korean electronics firm Samsung was announced in 2009, Chinese petroleum giant Sinopec followed in 2010, and Russian bank VTB signed a 25million dollar sponsorship deal in 2012.
It is not unusual for major companies to sponsor big sporting events in their countries, but the investigations are likely to focus on any involvement by Papa Massata Diack and Lamine Diack - who have both been charged with corruption and money laundering by French police - in the negotiations.
Commission member Richard McLaren said on Thursday: "There needs to be a complete audit of each of those decisions and processes, from 2009 onwards.
"We have information, we don't have hard evidence. But it's enough information that it bears serious investigation. It needs to be investigated. The process by which those decisions were made, who made them, why did they make them and why did other cities not get selected."
Asked if this included the possibility of bribes being paid, McLaren added: "We suspect it may have been, we don't know that for sure. That's why we want a further investigation. The police are pursuing that.
"They will have to go through financial records, documents, computer records, mobile phones. It's in their hands. We don't have those powers. We're working as a team here. We're looking at the sporting aspect, they're looking at the criminal aspects."
The International Olympic Committee has announced it will seek transcripts from the commission which suggested that payment of millions of dollars in sponsorship money to athletics may have been a significant factor in the vote for the 2020 Olympics.
The transcripts of conversations between Diack junior and Turkish officials suggest the IAAF president dropped his support for Turkish city Istanbul after it did not pay sponsorship money of up to 5million dollars (?3.5million) to the Diamond League or IAAF but that Japan, whose capital city Tokyo did win the IOC's vote to host the 2020 Games, did pay the sponsorship money.
The IOC said in a statement: "We have already asked the Independent Commission for the transcript so that we can better understand the context and the claims being made."
The IOC pointed out that commission chairman Richard Pound stated on Thursday: "I am fairly confident about the Olympic side. We have done an enormous amount since 1999, to make sure that that cannot happen.
"If there is going to be individual bits of corruption you can't stop all that. But organisationally I don't think that's an issue with the Olympics."