This week the Serious Fraud Office began an investigation to food supermarket chain, Tesco, after irregularities were found in its account practices, reports the Guardian.
A team of forensic accountants from Deloitte have examined Tesco's accounts and have discovered irregularities in the data. It appears Tesco have artificially inflated their first-half profits by £263m but ascribing profit from previous years to the profits for this year. The amount relating to previous years is thought to be in the region of £145m.
It has been speculated by some city analysts that Tesco executives having been pulling forward payments to improve the look of the supermarket's finances. The Deloitte accountants have also concluded supplier payments had been pulled forward or deferred in a way that was contrary to Tesco's own accounting policies.