AN accounting watchdog has opened an investigation into the software company accused of misleading investors prior to its multi-billion dollar takeover by American giant Hewlett-Packard.
The Financial Reporting Council will examine Cambridge-based Autonomy's books in the period between January 2009 and June 2011 – three months before it was bought by the US firm in a £7.1 billion deal. HP recently wrote off £5.1bn from quarterly earnings, with the majority linked to its accusations of "serious accounting improprieties, misrepresentation and disclosure failures" at Autonomy.
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