Autonomy audit

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dealmaker

Autonomy audit

Deloitte has been fined $19.4 million by the U.K.'s accounting regulator over its audit of software firm and not-so-great HP acquisition Autonomy. The audit took place ahead of the $11 billion takeover in 2011—a deal that was followed by a massive writedown after HP found alleged deception in the presentation of Autonomy's finances. The Financial Reporting Council said Deloitte's audit contained "serious and serial failures." Reuters
 
A $19 million fine on a $11 billion takeover that proved to be almost worthless. Probably made $50 million dollars in fees.

If you are going to commit a crime do a white collar crime.

More amazing was at the time the HP Board of Directors made one horrendous decision after another with impunity.
 
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