"BT Group plc did not maintain effective internal control over financial reporting as of 31 March 2020 because of the effect of material weaknesses." That's an amazing statement from KPMG, which very rarely reports the common client deficiencies.
BT fired the CEO and the stock is down 75%. With hindsight, I see it was a terrible mistake not to emulate FT and Telefonica Spain moving quickly to fiber. (Both countries are more than half covered.) CityFibre has raised billions and is taking customers. Others, including Liberty Global cable, are also investing. BT is going very slowly on 5G as well. Earnings are under pressure and need a close watch.
Ericsson is also abusing the accounting rules. It is taking a write-off on its low bids for China 5G contracts although CEO Börje Ekholm said the contract would be profitable. Low bids to win the initial contract and lock in a customer are a common practice. Write-offs are intended for uncommon events.
Ekholm's move suggests Ericsson is struggling to meet profit targets.