Arab Today, arab today hp jolted by 88 billion fraud
Last Updated : GMT 02:28:27
Arab Today, arab today
Arab Today, arab today

HP jolted by $8.8 billion fraud

Arab Today, arab today

Arab Today, arab today HP jolted by $8.8 billion fraud

New York - UPI

US technology giant Hewlett-Packard said Tuesday a $10 billion purchase in 2011 would result in an $8.8 billion write-off due to accounting fraud. HP purchased British software firm Autonomy Corp. last year, then hired a forensic accounting firm to review the transaction after an Autonomy executive came forward to reveal the potential fraud, The New York Times reported. The executive came forward after HP closed on the deal, which was widely criticized as an expensive deal even before the fraud was revealed, the Times said. Former Chief Executive Officer Leo Apotheker managed the purchase of Autonomy and left HP a month after the deal was made. That was HP\'s second shakeup in the top office. Apotheker\'s predecessor, Mark Hurd, resigned abruptly just a year prior to that under a cloud of sexual harassment charges. Apotheker was replaced by former eBay executive Meg Whitman. HP said it had reported the fraud to the U.S. Securities and Exchange Commission and British Serious Fraud Office. It was also considering lawsuits, Whitman said. The deal was reviewed by accounting firm Deloitte. In turn, HP hired the accounting firm KPMG to review Deloitte\'s report. Neither Deloitte nor KPMG discovered the accounting fraud, however.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today hp jolted by 88 billion fraud Arab Today, arab today hp jolted by 88 billion fraud

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today hp jolted by 88 billion fraud Arab Today, arab today hp jolted by 88 billion fraud

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday