PwC finds $5bn black hole in HP's Autonomy deal


Accountancy Age

Driver in Formula One Autonomy team car

A PwC REVIEW has led to the discovery of “accounting improprieties and disclosure failures” in former FTSE100 UK technology business Autonomy, which has forced its acquirer, HP, to write off more than $5bn (£3.1bn) from the deal. The firm was called in by HP to undertake a forensic review of Autonomy’s accounting practices prior to its acquisition. The review was part of an investigation that HP said was sparked by a whistleblower from…

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