J Capital Research accuses WiseTech of inflating profits

Yolanda Redrup, Vesna Poljak, Sarah Turner and Jonathan Shapiro

Oct 17, 2019 – 4.48pm

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The author of a scathing research report on WiseTech aimed at short sellers has labelled the $10 billion tech darling's financial statements "the biggest accounting headache we’ve had".

The report by hedge fund research firm J Capital accused the company of using accounting trickery to inflate growth and overstate profits, and caused its shares to drop 10 per cent before trading in the stock was halted on Thursday.

Yolanda Redrup is the editor of the AFR Rich List. She previously reported on technology, healthcare and Street Talk.

Vesna Poljak was The Australian Financial Review’s companies editor.

Sarah Turner was Perspective editor at The Australian Financial Review.

Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney.