Deloitte kept quiet at Autonomy's internal audit committees, says scrutiny chairman | 9/11/2019 | Staff
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Autonomy Trial A top Deloitte auditor "never said anything" at meetings of Autonomy's internal audit committee, its chairman – a one-time CEO of the Prudential insurance group – has testified to London's High Court.

Giving evidence during the long-running Autonomy trial earlier this week, Jonathan Bloomer told the court that Deloitte auditor Lee Welham "never said anything at the meetings so he left no impression on me".

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In 2011, HP bought Autonomy, a maker of software to keep track of unstructured data, founded by Mike Lynch in the UK for $11bn.

Buyout - US - IT - Value - Autonomy

After the buyout, the US IT titan wrote down the value of Autonomy by $8.8bn, claiming the British firm had "misrepresented" its value. Lynch, Autonomy CEO at the time of the biz gobble, denies this.

HPE is now suing Lynch and Autonomy financial chief Sushovan Hussain at the High Court in London, seeking $5bn in damages. Over in the States, prosecutors are pursuing a separate criminal fraud case against Lynch and Autonomy bean-counter Stephen Chamberlain. All three men deny any wrongdoing. You can read more of our previous coverage here.

Bloomer - Morgan - Stanley - International - Autonomy

Bloomer, who currently heads Morgan Stanley International, chaired Autonomy's audit committee between September 2010, having joined it in the previous month. He was in charge for four of its quarterly meetings before Autonomy's buyout by HPE in 2011.

Patrick Goodall QC, cross-examining Bloomer on behalf of HPE, had asked about the makeup of the audit committee. At the exec's first meeting as chairman, in October 2010, it comprised Bloomer himself, Professor Frank Kelly (master of Autonomy founder Mike Lynch's alma mater, Christ College, Cambridge) and John McGonigall of venture capital firm Apax Partners.

Committee - Members - Autonomy - CFO - Lynch

Aside from the external committee members, it was also attended by Autonomy CFO (and Lynch's co-defendant) Sushovan Hussain, Autonomy finance man Andy Kanter (its secretary),...
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