Tesco's disclosure of put option lacks transparency

Article Abstract:

State observers reveal that the British retail firm Tesco's disclosure in 2006 of its treatment of a put option designated as a net investment hedge, lacks transparency. Tesco's accounting policies note recognizes as a financial liability a put option relating to minority interests in a subsidiary company, but in a separate note it discloses that this liability is designated as a net investment hedge on a proportion of the assets of the subsidiary.

United Kingdom, Evaluation, Tesco PLC, Disclosure statements (Accounting), Accounting systems

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Irish institute censures Deloitte & Touche

Article Abstract:

The Irish Institute of Chartered Accountants has censured Deloitte and Touche. The institute said that the firm's audits of Dunnes Stores companies were not independent.

United States, Ireland, Accounting Methods, Accounting, auditing, & bookkeeping, Accounting & Auditing Services, Accounting, Tax Preparation, Bookkeeping, and Payroll Services, Discipline, Accounting, Accounting firms, Accounting services, Deloitte & Touche L.L.P., Dunnes Stores Ltd.

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Ahold: the European Enron?

Article Abstract:

Ahold found irregularities in the accounting of its foreign subsidiaries which caused delays and revisions in auditing.

Netherlands, Koninklijke Ahold N.V.

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