Big Four accountancy firm Deloitte has been fined £15m and ordered to pay more than £5m in costs for failures in its audit of software company Autonomy.

Two of its former partners have also been sanctioned. Richard Knights was fined £500,000 and excluded from membership of the Institute of Chartered Accountants in England and Wales for five years, and Nigel Mercer was fined £250,000 and severely reprimanded.