Tescos Inflated Profit Prompts Accounting Probe

The transcript discusses a significant financial issue at Tesco, involving a quarter of a billion pounds. Auditors and lawyers are involved to investigate the discrepancies. CEO Dave Lewis acknowledges the problem, which involves financial mismatches like bringing forward income and delaying costs. Four executives, including UK head Chris Bush, are stepping aside during the investigation. Analysts express shock, and there are concerns about board practices and composition. The chairman, Richard Broadbent, remains in position during the ongoing investigation.

What is the approximate financial discrepancy Tesco is facing?

• One billion pounds

• Ten million pounds

• A quarter of a billion pounds

• Half a billion pounds

What financial practice did Tesco engage in that contributed to the discrepancy?

• Delaying income and bringing forward expenses

• Bringing forward income and delaying expenses

• Increasing prices and reducing costs

• Investing in new markets

How many executives were asked to step aside during the investigation?

• Three

• Four

• Five

• Two

Who is the UK head that had to step aside during the investigation?

• Dave Lewis

• Richard Broadbent

• Chris Bush

• Robin Terrelle

What are analysts concerned about besides the financial loss?

• The quality of products

• The expansion into new markets

• The practices of key individuals

• The company's marketing strategy