Autodesk Is Probing Its Own Accounting Practices, Shares Decline
- Focus on free cash flow, non-GAAP operating margin practices
- Company put off release of annual financial report as a result
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Autodesk Inc. fell by the most in almost a month after disclosing an internal investigation into its own accounting practices and putting off the release of its annual financial report.
The San Francisco-based software maker received information that has prompted “an internal investigation with the assistance of outside counsel and advisors,” Autodesk said in a filing late Monday. The probe involves accounting practices around free cash flow and non-GAAP operating margin practices, the company said, while noting it doesn’t believe the review will affect previously issued financial statements.