The FD verdict: Do CEOs significantly misrepresent accounts?

Could they possibly misrepresent company reports to give a more rosy image of company accounts?

No-one is looking with envy right now at Alan Stewart, who has recently joined Tesco as its CFO, following Tesco’s announcement that it had overstated profits by ?250m.

And while Tesco couldn’t be accused of misrepresenting the company’s finances in order to lure in Stewart – it might bring back bad memories for FDs who were called into a similarly desperate situation, to find it was actually much worse than even the press knew.

So in this week’s FD’s survey, we want to know whether you think a CEO could be guilty of misrepresenting financial reports significantly, in order to encourage a new CF to take the job.

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