The Financial Reporting Council has dropped charges against ex-Tesco finance director Laurie Mcllwee for his role in the retailer’s £263m accounting scandal in 2014.
Mcllwee, who has been unable to work during a two year investigation a supposed profit scandal by the FRC, said: “I am sure that the investigation was never a personal thing, but a natural flow of events.”
“It has been a very disruptive two years and now that I have been exonerated I am looking forward to getting back into full-time employment. I, of course, was not expecting the events that followed to happen.”
The FRC is still investigating individuals within Tesco’s auditing company, PricewaterhouseCoopers, as well as Irish operations that have £60m in mis-statements from previous years.
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