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TESCO'S former finance chief has been cleared by the accountancy watchdog investigating the £263 million black hole discovered in the grocer's accounts two years ago.
The Financial Reporting Council (FRC) has closed its investigation into Laurie Mcilwee who resigned as chief financial officer of Britain's biggest supermarket in April 2014.
It said it had ended the investigation because there was "no realistic prospect" that a tribunal would make an adverse finding in relation to Mr Mcilwee's conduct.
The FRC added that its probe into the auditors linked to the Big Four grocer during the accounting scandal would continue.
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