All Tesco articles

  • London dark

    What should be priorities for incoming SFO director?


    High staff turnover, low morale, and unattractive rates of pay are among the areas legal experts pointed to when discussing the potential agenda of Nick Ephgrave upon taking over as head of the U.K. Serious Fraud Office.

  • Liability

    Law Commission proposals put heat on U.K. execs


    The United Kingdom might make it easier for executives and senior managers to be held directly accountable for corporate crimes under reform proposals put forward by the body that reviews U.K. law.

  • Tesco Stores

    FRC strikes out again as third Tesco probe ends


    The U.K. Financial Reporting Council has ended its third and final investigation into the Tesco accounting scandal, yet again failing to find anyone responsible for the overstating of £250 million (U.S. $317.5 million) in profits.

  • CorporateCharity

    For some companies in the age of coronavirus, ethics pays


    Despite slow governmental response to the coronavirus outbreak that is grinding the world economy to a halt, several businesses have decided it is worth going above and beyond to help customers and employees.

  • CrackedSkinMan

    Oxfam slams U.K. supermarkets over worker abuses in supply chains


    In an effort to cut costs and raise revenue, U.K. supermarkets are endangering employees with such abuses as a lack of toilets, unsafe drinking water, and illnesses resulting from exposure to pesticides, says a new report from Oxfam.

  • Ruling

    A critical review of the SFO’s DPA process


    Companies considering entering a deferred prosecution agreement with the U.K. Serious Fraud Office might instead want to take their chances with a trial following the outcomes of a trio of recent high-profile corruption cases.

  • Article

    Muddled DPA outcome for Tesco accounting fraud scandal


    The U.K. Serious Fraud Office has released details of the deferred prosecution agreement it struck with Tesco—on the same day the supermarket chain’s former finance director accused of the accounting fraud was acquitted.

  • Article

    SFO targets Tesco executives in retrial


    Although British supermarket chain Tesco secured a DPA for its 2014 fraud offence, three of its executives still face a reckoning in court—with an uncertain outcome.

  • Blog

    SFO to seek retrial of three former Tesco managers


    The U.K. Serious Fraud Office is seeking a retrial of three former senior managers of retail company Tesco, who are facing fraud and false accounting charges.

  • Blog

    Tesco, the SFO, and the FCA come to terms


    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.

  • Blog

    SFO brings charges in Tesco accounting scandal


    Tom Fox examines the Serious Fraud Office’s recent indictments against three individuals from the October 2014 Tesco scandal in which the British grocery chain overstated earnings by fraudulently accounting certain revenues received back from suppliers.

  • Blog

    SFO Speeds Up Tesco’s Accounting Probe


    The Serious Fraud Office has accelerated its probe into the accounting irregularities at Tesco, hoping to resolve the criminal investigation by year-end. The supermarket chain’s former chief executive Philip Clarke is one of many former Tesco executives being scrutinized by the agency in its investigation; Laurie McIlwee, former finance ...