All financial misstatements articles
Tesco Stores will pay a £129 million (U.S.$161.4M) fine over a 2014 misstatement of the retailer’s profits. The fine, part of a deferred prosecution agreement with the Serious Fraud Office, is a clarion call for all companies to strengthen their internal controls.
Since 2012, now-defunct Bloxham Stockbrokers, Ireland’s oldest stockbroker, halted all trading activities amid a Central Bank investigation, which uncovered a €5.3 million gap in its accounts. Ireland’s regulatory body, the Chartered Accountants Regulatory Board, has yet to investigate the firm’s accounting practices. In May, the Central Bank banned the company’s ...