Good morning. Earlier this week, I wrote about how Sushovan Hussain, the former CFO of Autonomy, a software company founded by the late British tech entrepreneur Mike Lynch, cooked the books and landed in prison for five years and how, in July, he was banned from accounting until 2038.
About a year after HP acquired Autonomy in 2011 for $11.1 billion, the tech giant accused Autonomy of accounting fraud. Lynch was acquitted and Hussain was found guilty of 16 counts of fraud in 2018. Back-dated contracts, round-trips, and channel stuffing are at least three of the fraudulent accounting practices. But what do these practices entail? I talked with experts to find out more.
