Our Structure

web7998 2012-01-05

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Our Structure

Our finance operation comprises of the following departments:

Business Support: Each function in Tesco has a finance team headed by a Finance Director, to drive financial control across the business. Each team's role covers all aspects of financial analysis - such as investment appraisals, cost benefit analysis, developing targets and monitoring performance.

Financial Reporting: This team provides management information to measure and monitor the business, either in the form of our corporate steering wheel (or balanced score card), five-year plans, operating budgets, forecasts or our weekly/monthly financial results.

Treasury Management: This department is responsible for funding, cash management, group structuring, managing financial risks and purchasing financial services. The aim is to minimise the cost of funding the business through providing the highest level of financial expertise. Opportunities exist for travel, too, working with Tesco operations in other countries and our Treasury Centre in Hong Kong.

Audit: Audit in Tesco is an independent, objective assurance and consulting activity designed to add value and improve Group operations. It helps the Group achieve its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance.

Taxation: A business like Tesco has to pay tax in all sorts of ways in many different countries. The taxation team makes sure we comply with all these national tax and import/export duty rules, while advising the business to ensure that we operate tax-efficiently.