Autonomy legal battle takes fresh twist | AccountingWEB

Autonomy legal battle takes fresh twist

Senior executives at Hewlett Packard and auditors at Deloitte knew about some of the controversial sales practices used by Autonomy months before a whistleblower revealed them, forcing HP to write down the value of the acquired software company by US$8.8bn a year later.

A report by the Financial Times, citing accounting documents and internal emails, said some of the deals at the centre of the allegations were signed off by Autonomy’s auditors.

Other parts of audit packs acknowledged the extensive sale of hardware by the British software company, the FT also reported.

HP has said that it was not...


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Oh Dear HP

Jeremy.t | | Permalink

How come they didn't get access to auditor reports until after completion?  Where was the due diligence HP?


I assume the point of HP shareholders suing HP is to get an insurance payout, as opposed to HP actually paying the shareholders their own money?