FCA to investigate Tesco after £250m accounting error

[Martin@AS Financial]

The Financial Conduct Authority will conduct an investigation into Tesco after the firm overstated its estimated half-year profits by £250m.

Link below:

http://www.mortgagesolutions.co.uk/m...counting-error

[BrilloPad]

MF decided to switch his pie account to Sainsburys and they already had it in the accounts. Sorry about that.

[Unix]

Share price is down 7%...oh dear

[Troll]

£250m is some rounding error

PwC are Tesco's usual auditors - head will / should roll for this

[Sysman]

£250m is some rounding error

PwC are Tesco's usual auditors - head will / should roll for this

Correction:

PwC are Tesco's usual auditors - head should / probably won't roll for this

[SimonMac]

Share price is down 7%...oh dear

As a shareholder I want to upgrade that to an

[VectraMan]

Every little helps.

[vetran]

According to the BBC the £250M was from earnings from their suppliers brought forward!

[d000hg]

Share price is down 7%...oh dear

BuyBuyBuy? Or wait for further fall-out?

[Unix]

BuyBuyBuy? Or wait for further fall-out?

For me Tesco is on it's way down, expanded too fast and people are moving to local or cheaper stores.