What was the scandal with Halliburton?

Written by Editorial Team | Last Updated: August 2026

The major controversy involving Halliburton, the multinational oilfield services corporation, centered around accounting practice changes made while Dick Cheney served as the company's chief executive officer during the late 1990s. The company altered its accounting method for recognizing cost overruns on construction projects before they were officially approved by clients, which temporarily inflated reported corporate earnings. This practice sparked intense regulatory investigations by the Securities and Exchange Commission, shareholder lawsuits, and widespread public scrutiny regarding corporate governance, executive accountability, and political connections during the early 2000s.

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