Hastie Group Limited (ASX:HST) has revealed it will take a $20 million hit to its fiscal 2012 profit after identifying accounting irregularities.
The troubled building services company says the irregularities date from fiscal 2009 and appear to be the result of deliberate actions from a current employee who is now suspended.
Hastie has advised some current and former senior management may also have participated in the irregularities.
The company has referred the matter to the Australian Securities and Investments Commission and expects to make further announcements once the investigations are complete.
In the first half of the 2012 financial year Hastie Group reported a net loss of $149 million.
