UK Regulator Scrutinizes WHSmith Over US Accounting Errors

The UK's Financial Conduct Authority (FCA) is examining accounting errors at WHSmith. The issues led the retailer to overstate its profits in the United States. The FCA has begun discussions with the company. However, the regulator has not yet decided whether to open a formal investigation. The errors occurred within WHSmith's US travel division. This business operates stores in airports and train stations. The company has stated it is cooperating fully with the FCA.