Deloitte Faces Record $19 Million U.K. Fine for Autonomy Audit

Deloitte LLP faces a record 15 million pound ($18.9 million) fine after a disciplinary tribunal found the Big Four firm’s audit of the technology group Autonomy Corp. Plc was inadequate.

The tribunal ruled against Deloitte in a hearing Thursday and hasn’t yet set the level of the fine, but Financial Reporting Council spokesperson Peter Timberlake in an email confirmed that the accounting watchdog was asking for a fine of 15 million pounds, which would be the largest-ever penalty for bad auditing in the U.K.

The FRC called the disciplinary tribunal against Deloitte and two of its partners, Richard ...