UK – Investigation announced in connection with Autonomy Corporation plc

by Sabrina I. Pacifici on February 11, 2013

News release: “The Financial Reporting Council (FRC) has launched an investigation under the Accountancy Scheme into the published financial reporting of Autonomy for the period between 1 January 2009 and 30 June 2011. The FRC’s decision to initiate an investigation was taken following consultation with the ICAEW (Institute of Chartered Accountants in England and Wales). The FRC is responsible for promoting high quality corporate governance and reporting to foster investment. We set the UK Corporate Governance and Stewardship Codes as well as UK standards for accounting, auditing and actuarial work. We represent UK interests in international standard-setting. We also monitor and take action to promote the quality of corporate reporting and auditing. We operate independent disciplinary arrangements for accountants and actuaries; and oversee the regulatory activities of the accountancy and actuarial professional bodies.”

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