This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Notes
- 1.
- 2.
Tesco was among the first to launch a clubcard system as compared to its competitors. Customers collect 1 point for every £1 (€1 in Ireland) they spend in a Tesco store, Tesco Petrol, Tesco.com or other Tesco services. Every three months, holders receive a Clubcard statement offering discount coupons that can be spent in-store, online, or various Clubcard deals. In addition, Tesco also gather customer information to cater to specific customer needs.
- 3.
- 4.
References
Alvero, M. (2020). Avoiding bias in your internal audit program. MISTI. https://www.misti.a2hosted.com/internal-audit-insights/avoiding-bias-in-your-internal-audit-program/
Bergin, T. (2014). Tesco-style accounting risks well known in retail industry. Reuters. https://www.reuters.com/article/uk-tescoaccounting-idUKKCN0HI2DF20140923/
Butler, S., & Bowers, S. (2013). Britain’s big supermarkets lose ground to cut-price rivals and upmarket grocers. The Guardian. https://www.theguardian.com/business/2013/nov/19/britain-supermarkets-market-share-fall-tesco-sainsburys-lidl
Carey, P., & Simnett, R. (2006). Audit partner tenure and audit quality. The Accounting Review, 81(3), 653–676.
Croft, J. (2017). Tesco ‘whistleblower’ testifies of pressure to meet targets. Financial Times. https://www.ft.com/content/04b97e82-a922-11e7-ab55-27219df83c97/
Davey, J. (2018). Britain’s Tesco takes on discount rivals with new Jack’s chain. Reuters. https://www.reuters.com/article/us-tesco-new-format-idUSKCN1LZ1OZ/
Dechow, P. M., Ge, W., Larson, C. R., & Sloan, R. G. (2011). Predicting material accounting misstatements. Contemporary Accounting Research, 28(1), 17–82.
Dost, P. (2019). The power of customer loyalty: Tesco & healthy eating. Ikano Insight. https://insight.ikano/the-power-of-customer-loyalty-tesco-healthy-eating/
Financial Conduct Authority. (2014). Final Notice for Tesco Stores Limited. P. 5.
Lee, A. (2016). How Tesco became the UK’s biggest retailer (word-of-mouth). ReferralCandy. https://www.referralcandy.com/blog/tesco-marketing-strategy/
Martin, W. (2016). 3 former senior Tesco executives charged with fraud after the company overstated profits by £326 million. Business Insider. https://www.businessinsider.com/sfo-charges-former-tesco-executives-over-fraud-investigation-2016-9/
McKenna, F. (2014). Broader auditor disclosures shine light on Tesco fraud in UK. Bull Market. https://medium.com/bull-market/broader-auditor-disclosures-shine-light-on-tesco-fraud-in-uk-us-audit-firms-resist-similar-f1bd41e0e77c/
Narayanaswamy, R. (2018, December 18). Board Failures: Why audit committees aren’t for the faint-hearted. BQPrime. Available at: https://www.bqprime.com/opinion/board-failures-why-audit-committees-arent-for-the-faint-hearted/
Neville, S. (2014). Lidl and Aldi pose ‘biggest supermarket threat ever’. The Independent. https://www.independent.co.uk/news/business/news/lidl-and-aldi-pose-biggest-supermarket-threat-ever-9191275.html/
Reed, J., & Eley, J. (2020). Tesco agrees $10.6bn sale of Thai and Malaysian operations. Financial Times. https://www.ft.com/content/4c63ffb0-61b1-11ea-b3f3-fe4680ea68b5/
Reuters. (2017). Tesco’s UK boss told ‘word by word’ of hole in accounts, court hears. Reuters. https://www.reuters.com/article/us-britain-tesco-fraud-idUSKBN1CB1QC/
Ruddick, G., & Kollewe, J. (2017). Tesco to pay £129 m fine over accounting scandal. The Guardian. https://www.theguardian.com/business/2017/mar/28/tesco-agrees-fine-serious-fraud-office-accounting-scandal/
Shadbolt, P. (2015). How the discounters are beating the supermarkets. BBC News. https://www.bbc.com/news/business-34315643
Sweet, P. (2015). Tesco checks out of 32-year audit relationship with PwC. Accounting Daily. https://www.accountancydaily.co/tesco-checks-out-32-year-audit-relationship-pwc
Taylor, J. (2018). Fraud trial of three ex-Tesco bosses abandoned after one defendant suffers heart attack. Mirror. https://www.mirror.co.uk/news/uk-news/fraud-trial-three-ex-tesco-11978218/
Tesco Group. (2014). 2014 annual report. https://www.annualreports.com/HostedData/AnnualReportArchive/t/LSE_TSCO_2014.pdf/
Vasquez-Nicholson, J. (2013). UK supermarket chain profiles 2013. GAIN.
Warmoll, C. (2015). PwC’s 32 year Tesco audit reign ends as Deloitte appointed. Accountancy Age. https://www.accountancyage.com/2015/05/11/pwcs-32-year-tesco-audit-reign-ends-as-deloitte-appointed/
Williams, H. (2012). US failure costs Tesco £1 billion as store calls time on American venture. Independent. https://www.independent.co.uk/news/business/news/us-failure-costs-tesco-ps1-billion-as-store-calls-time-on-american-venture-8386199.html/
Willmott, H. (2014). At Tesco everyone is at fault and no one to blame. Financial Times. https://www.ft.com/content/71118e80-4a20-11e4-bc07-00144feab7de/
Author information
Authors and Affiliations
Corresponding author
Rights and permissions
Copyright information
© 2022 The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.
About this chapter
Cite this chapter
Chen, J.J. (2022). Tesco Plc. In: International Cases of Corporate Governance. Palgrave Macmillan, Singapore. https://doi.org/10.1007/978-981-19-3238-0_3
Download citation
DOI: https://doi.org/10.1007/978-981-19-3238-0_3
Published:
Publisher Name: Palgrave Macmillan, Singapore
Print ISBN: 978-981-19-3237-3
Online ISBN: 978-981-19-3238-0
eBook Packages: Business and ManagementBusiness and Management (R0)