Austal (ASX:ASB) has sank on Friday to lunchtime, losing a quarter of its value, after revealing in the middle of confessions season that its finance guys ‘double-counted’ a contract linked to a U.S.

A U.S. Government Accountability Office (GAO) draft report on the U.S. Navy’s Littoral Combat Ship (LCS) program is leading some in Congress to ask for a halt to some LCS funding until the Navy ...