The City watchdog is looking into accounting blunders at WH Smith.
The Financial Conduct Authority is making enquiries into the retailer after accounting errors were uncovered in its North American business.
Carl Cowling stepped down as its chief executive last week after an independent review of the North American division identified an overstatement of around £30million in expected trading profit.
The error prompted a cut in the profit outlook of the division – its second largest – to about £25million, down from a previous forecast of about £55million.
‘We are aware of the reports and we are engaging with the firm,’ a spokesman for the regulator said.
Accounting errors: The Financial Conduct Authority is making enquiries into WHSmith after accounting errors were uncovered in its North American business
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