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| Tesco accounts face fresh inquiry | Tesco accounts face fresh inquiry |
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| The Financial Reporting Council (FRC) has announced an inquiry into Tesco's accounts for 2012, 2013 and 2014. | |
| The FRC is an independent disciplinary body for UK accountants and actuaries. | The FRC is an independent disciplinary body for UK accountants and actuaries. |
| BBC business editor Kamal Ahmed says the FRC's investigation will include PwC's auditing and preparation of Tesco's accounts. | |
| In September, Tesco said it had mis-stated its half-year profit guidance by £250m - a figure that was subsequently revised to £263m in October. | In September, Tesco said it had mis-stated its half-year profit guidance by £250m - a figure that was subsequently revised to £263m in October. |
| In December, Tesco said full-year profits would be well below market expectations. | In December, Tesco said full-year profits would be well below market expectations. |
| Instead of the £1.8bn to £2.2bn expected by the markets, the supermarket chain said group trading profit for the full financial year "will not exceed £1.4bn". | |
| In October, Tesco reported that underlying profits for the first half of its financial year slumped to £783m, down almost 47% on the previous year. | |
| The company's share price has fallen nearly 45% over the last year as the accounting scandal and falling sales have disappointed investors. |