On March 31, 2021, Jehoshaphat Research published a report accusing Amdocs of overstating its profits and concealing its debt by manipulating its balance sheet. The report also referenced a concerning pattern of resignations by reputable auditors, who were replaced by "scandal-plagued or tiny shops." Finally, Jehoshaphat noted that, according to former employees and direct competitors of the Company, Amdocs was losing AT&T as a customer.