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UK' Serious Fraud Office Begins Probe Into Tesco's Accounting Practices

October 29, 2014: 12:00 AM EST
Tesco said the UK's Serious Fraud Office has launched a probe into the retailer's accounting practices. SFO's move followed Tesco's admission of over-stating profits by $424.6 million by advancing forward payments from suppliers and delaying costs. UK managing director Chris Bush and seven other executives were suspended while the company conducts its own investigation.
Katy Askew, "Serious Fraud Office launches Tesco probe", Just-Food, October 29, 2014, © just-food.com
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