The Securities and Exchange Commission today sanctioned a Scottsdale, Ariz.-based software company for having inadequate internal accounting controls over its financial reporting, which resulted in misstated revenues in public filings.
LONDON (Reuters) - Executives from Tesco , the world's No. 3 retailer, could be grilled by a British parliamentary committee of lawmakers over its overstatement of profits, BBC radio reported on Thursday.
Adrian Bailey, chairman of the...
By Tom Bergin
LONDON (Reuters) - Tesco Plc's disclosure of huge accounting mistakes over contracts with its suppliers shocked industry analysts and executives, but not because they didn't realise the potential for disaster.
On the contrary, they...
Tesco Plc said Alan Stewart will
start today as chief financial officer after gaining his early
release from Marks & Spencer Group Plc as the biggest U.K.
grocer handles the fallout from overstating its profit guidance.