An independent FRC Disciplinary Tribunal chaired by Lord Dyson has ordered Deloitte to pay a £15 million fine following findings of Misconduct over its audits of Autonomy Corporation plc between July 2009 and June 2011. The fine followed a seven-week hearing in 2019 and a sanctions hearing in 2020. One of Deloitte’s partners, Richard Knights, was excluded from membership of the ICAEW for 5 years, and was the subject of a fine. A second partner, Nigel Mercer, received a severe reprimand and was also fined.
Henry King QC and Max Evans represented the FRC at the hearings (led by Rebecca Sabben-Clare QC of 7KBW). Timothy Dutton CBE QC also advised the FRC throughout the investigation.
