Questions about accounting practices drive SEC investigation into Fluor, internal probe for Granite

Two of the country’s largest contractors have delayed their full year 2019 financial reporting in order to more fully look into accounting and estimating practices.

The Securities and Exchange Commission is investigating Fluor Corp. in relation to large charge-offs the company took in the second quarter of 2019, and Granite Construction has launched an internal investigation into prior-period accounting in its heavy civil division.

According to an analysis from Seeking Alpha newsletter provider GS Analytics, the Fluor charges revolve around “unrealistic estimates” of project costs under its previous executive management team and not its ability to execute its projects. Potential

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