The committee will question Department for Culture, Media and Sport officials over why the £3.6 million monument in Hyde Park was over-budget and needed repair work so soon after it opened.
The investigation will also look at the continued running costs of the fountain and whether officials properly took into account Diana's popularity when it was being constructed.
Only yesterday it emerged that, according to a memo from Will Weston, the chief executive of the Royal Parks Agency, there were 900 ``incidents'' in the first fortnight, including 15 cases of personal injury.
A spokesman for the PAC said yesterday: 'The main focus is going to be why does the fountain cost so much money to maintain? Annual running costs total around £250,000.
'It will also look at whether officials properly took into account Diana's popularity in the planning stage and the cost of its construction.'