U.K. Watchdog Finds Deloitte, Former Partners Failed to Challenge Autonomy’s Accounting

The Financial Reporting Council, the U.K.’s accounting watchdog, on Wednesday said Deloitte LLP and two former partners were “culpable of serious and serial failures” in their audits of Autonomy Corp., wrapping up a yearslong investigation after findings of misconduct.

Autonomy, an enterprise software business founded in Cambridge, England, was acquired by

Hewlett-Packard Co.

in 2011 for $11.1 billion. A year later, the U.S. company took an $8.8 billion write-down related to the transaction, stating it was duped into overpaying because

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Employers cut 140K jobs in December, but added 2.3K in accounting

Payrolls fell sharply in December, as the U.S. Bureau of Labor Statistics reported Friday that employment declined by 140,000 jobs amid the continuing economic fallout from the novel coronavirus pandemic. Nevertheless, the accounting and bookkeeping sector added 2,300 jobs last month.

The unemployment rate remained at 6.7 percent despite the job cuts. The BLS revised upward the figures for both October and November, with the October figures going up by 44,000, from a gain of 610,000 jobs to a gain of 654,000. The change for November was revised upward by 91,000 jobs, from a gain of 245,000 jobs to a

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