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Expert Opinion

A $100 Billion Finance Industry Flies Under the Radar

Why accounting rules should be modified to make supply chain finance easier to spot on corporate financial statements.

By Chris Bryant | May 15, 2019 at 10:58 AM

About $1 billion of shareholder wealth went up in smoke last week when GMT Research—a Hong Kong firm that tries to hunt down anomalies in financial reports—accused the Australian construction group Cimic Group Ltd. of using creative accounting to inflate its profits.

Cimic is controlled by Germany’s Hochtief AG and contributes most of its earnings, while Hochtief is majority-owned by Spanish construction giant ACS.

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