Britain's accounting regulator said on Thursday it has fined Deloitte a record 15 million pounds for its audit of software firm Autonomy that contained"serious and serial failures".
Deloitte, one of the world’s Big Four auditors, and two of its now former partners, Richard Knights and Nigel Mercer, were investigated in relation to their audit of Autonomy’s financial statements for 2009 and 2010.Autonomy, founded by Mike Lynch, was bought for US$11 billion by Hewlett Packard in 2011, but the deal turned sour a year later when HP wrote off three-quarters of the former FTSE 100 company’s value, alleging it had been deceived by its finances.
Deloitte said it regretted that the FRC tribunal had ruled that aspects of its audit work on Autonomy between 2009 and 2011 fell below the professional standards required.
Source: Tech Daily Report (techdailyreport.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kohl's cuts 15% of corporate workforceKohl's Corp said on Tuesday it has cut about 15per cent of its corporate jobs as the department store operator looks to save cash at a time when ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Comcast says Peacock streaming service has over 15 million sign-upsComcast Corp said on Tuesday its recently launched streaming service Peacock has over 15 million sign-ups since its launch, a 50per cent increase ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Evening Update: Today's headlines from The Straits Times on Sept 15Good evening! Catch up on some of the main headlines on Tuesday, Sept 15.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Amazon UK unit pays US$8 million corporation tax as sales hit US$17.5 billionAmazon.com Inc's main UK subsidiary, Amazon UK Services Ltd., paid just 6.3 million pounds (US$8 million) in corporation tax in 2019 despite the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
US median income hit record high before coronavirus hit, Census saysU.S. median household income hit a record high in 2019 and the poverty rate fell, according to a government survey released on Tuesday that ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Singer Aliff Aziz gets jail, fine for theft and disorderly behaviourSINGAPORE: Singer Mohamad Aliff Aziz, 29, was sentenced to two weeks' jail and a S$500 fine on Tuesday (Sep 15) for stealing from an Indonesian ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »