Access to finance is a common problem for growing businesses, but what are you supposed to do when the figures aren't going your way? Apparently the answer is to cook the books, as we reveal the worst financial mistakes businesses have made in history
Toshiba CEO Hisao Tanaka, as well as chairman Masashi Muromachi and vice-chairman Norio Sasaki, will be stepping down due to the company overstating its profits by £780m.
Tesco will be investigated by the Financial Conduct Authority (FCA), in response to the announcement last week that the company had overstated its profits guidance.
After the announcement Monday that Tesco had overstated its profit guidance by £250m, Alan Stewart, previous CFO for M&S, will join Tesco more than 2 months earlier then expected.
'Cooking the books' – the not-so-nice euphemism for misreporting accounts – is, unfairly, the facet of the finance profession which probably gets reported the most in the news.