Deloitte's conduct during its audit of Autonomy allowed the software firm “to present a misleading picture of its financial position”, the audit watchdog said.
In its full 270-page report on the Big Four accounting firm's record £21m sanction for its audit, the Financial Reporting Council (FRC), details the reasons for Deloitte’s record £15m fine and £5.6m in costs which was handed down by a disciplinary tribunal in September.
