Shares of Autodesk (ADSK) are sliding as the company announced further delays of its annual report on Wednesday. The delay is due to an ongoing internal investigation into its accounting.

Yahoo Finance Anchors Josh Lipton and Julie Hyman break down the latest announcement for the company, details on the investigation, and how it could impact the stock moving forward.

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This post was written by Nicholas Jacobino

Video Transcript

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JOSH LIPTON: Taking a look at some trending tickers in today's trade, Autodesk provides an update on further delay of its annual report. Amid that ongoing probe into its accounting. So here's what sounds like is going on with this one, Julie. The software maker is now saying, listen, we're going to have to delay that annual report because of this probe we're doing. Remember, earlier this month, companies said it was looking into its own free cash flow and non-GAAP operating margin practices. And had said, all right, given that we're going to need some extra time to file the 10-K. Now, it sounds like they're saying, hey, we're going to need to even more time.

JULIE HYMAN: Extra time.

JOSH LIPTON: They did emphasize. No expected impact to financial statements or commentary from the earnings report, they delivered back in February. But investors clearly nervous about that headline.

JULIE HYMAN: Yeah, and you can see the shares have come down as these announcements have piled up. Analysts are concerned that-- including those at Citi, are concerned that what this new announcement means is just that the issue could be more complex and layered, complicated than previously thought. So unclear now when exactly this is going to be happening. It does sound like both the company and some of the analysts say they're not worried about a delisting here, that they think that Autodesk will get it done. And a delisting, they have longer before they would be delisted potentially.

JOSH LIPTON: Yeah. I saw this note from Barclays and they're overweight the name. And they said, that headline was disappointing. But said it did not sound like the investigation was going to result in restatements or pulling any guidance. They said it was comforting to hear the scope of the investigation has remained the same. But investors clearly, at least right now, not as comforted.

JULIE HYMAN: Yeah, definitely.