Executives working at Lend Lease have decided to cancel briefing meeting at the company’s head office in Sydney in Australia following accusations of misreporting of figures of Abigroup.

Four senior executives have stepped aside following the discovery of discrepancies in Abigroup's results relating to road projects in Queensland and Victoria, for the period till June 2012. The senior management had found some serious discrepancies in the financial report and the company is now investigating the matter.

Lend Lease chief executive Steve McCann said in a statement that, “We take seriously any potential reporting and compliance issues, and are committed to resolving this matter fully and as quickly as possible.”

The company pointed out that as per the information available, the discrepancies is not going to have any impact on the Lend Lease's financial result for the 2011/12 financial year. The outlook of the company is also likely to remain intact; however, analysts said that investors have expressed concerns over the incident and the recommend involvement of the company in the projects under control.

Lend Lease had found that the Abigroup's profit figure did not include profits from a joint venture carrying out an upgrade of the Ipswich Motorway in Queensland.