Hewlett-Packard Company (HPQ) Reveals Accounting Errors At Autonomy Unit

Mani

Published onFebruary 4, 2014

Updated on May 13, 2021

Hewlett-Packard Company (NYSE:HPQ) has disclosed in its filing with UK’s Companies House that an audit of the 2010 financial results of Autonomy’s eight divisions revealed revenues were actually just 54% of its initially stated figure.

However, former senior management of Autonomy denied Hewlett-Packard Company (NYSE:HPQ)'s charges.

HP’s $8.8 billion write down on Autonomy

Hewlett-Packard Company (NYSE:HPQ) purchased Autonomy, the British firm, in 2011 to boost its presence in the enterprise software market. In 2012, Hewlett-Packard Company (NYSE:HPQ) announced that it had to take an $8.8 billion accounting charge related to Autonomy....

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Mani

Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports

Hewlett-Packard Company (HPQ) Reveals Accounting Errors At Autonomy Unit

HP’s $8.8 billion write down on Autonomy

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