Freshfields Bruckhaus Deringer has been called in by Tesco to review accounting failings which led to the supermarket chain overstating its profit forecasts for the first half of 2014 by an estimated £250m.
September 22, 2014 at 09:52 AM
1 minute read
The original version of this story was published on Legalweek
Freshfields Bruckhaus Deringer has been called in by Tesco to review accounting failings which led to the supermarket chain overstating its profit forecasts for the first half of 2014 by an estimated £250m.
The magic circle firm, acting alongside Deloitte, is set to undertake an independent and comprehensive review of the overstatement, which Tesco has put down to “accelerated recognition of commercial income and delayed accrual of costs”.
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