Congrats to Deloitte U.K. for Getting the Largest Fine Ever Handed Out by the Financial Reporting Council
PwC is no longer the answer to the trivia question: “Which Big 4 firm in the U.K. received the largest fine from the Financial Reporting Council?” That distinction now belongs to Deloitte. The Queen’s Deloitte was fined £15 million by the U.K.’s audit cops, as well as ordered to pay an additional £5.6 million to […]
Mike Lynch Would Like HP to Show Their Work
Last week, when HP announced that $5 billion of its $8.8 billion write-down was due to "serious accounting improprieties, misrepresentation and disclosure failures" at Autonomy, a lot of people were asking questions. How do the numbers work? Is HP taking a bath? Who's this Brand X accounting firm that Meg Whitman doesn't think too highly […]
Deloitte Didn’t Know Anything About These Accounting Improprieties You Speak Of
Remember what Meg said, "“The board relied on audited financials — audited by Deloitte — not Brand X accounting firm but Deloitte.” Via the New York Times: Deloitte notes the allegations made yesterday by Hewlett Packard (HP) that ‘some former members of Autonomy’s management team used serious accounting improprieties, disclosure failures and outright misrepresentations to inflate […]
This HP/Autonomy “Accounting Improprieties” Thing Hit the Big 4 Superfecta and Other Things We Learned Today
As luck would have it, we don't get to coast this Thanksgiving week as HP had to come along and screw it all up by announcing a $8.8 billion write-down, $5 billion of which is described as "serious accounting improprieties, misrepresentation and disclosure failures" at software company Autonomy, who HP acquired back in 2011. And where […]