Tesco probe finds evidence of inappropriate behaviour - reports

An investigation into Tesco's profit overstatement has uncovered evidence of "inappropriate behaviour" by staff, although the shortfall may be less than first feared, according to reports.

An internal investigation into the matter, which caused a further slump in Tesco’s share price this summer, will reportedly point the finger at a small group of individuals rather than an accounting error. The Sunday Telegraph reports the problems relate to the booking of supplier payments that were dependent on the supermarket hitting sales targets which it was unable to reach. However, the issue was confined to the first half of 2014 and will therefore not lead to the restatement of previous profits, according to the Sunday Times. Sky News, meanwhile, said the extent of the probl...