Engineering firm Fluor Corp.'s bids on two now-completed projects relied on overly optimistic estimates that led to worsening cost overruns, according to the...
“We will continue to hold companies and individuals accountable for serious controls failures and resulting recordkeeping and reporting violations,” she said in a statement.Five Fluor employees also agreed to pay penalties ranging from $15,000 to $25,000 for their roles.
In a statement, the company said it cooperated with the SEC and took steps to correct its accounting practices. It also set aside reserves in 2022 to pay the fine.in a statement. “Fluor now has a refreshed board and a new management team that is driving a balanced risk profile and healthy backlog.
Fluor reported revenue of $13.7 billion in 2022. Its 40,000 employees build a wide array of projects, from the $666 million
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