The company which provides IT solutions to the Department of Health launched a strong defence of its accounting policies after The Guardian reported that Labour MP Paul Farrelly was planning to put forward questions over its accounting policy of revenues and profits before a parliamentary group on corporate governance.
In a statement it said: ‘There are no issues with iSoft’s accounting policies, nor with its financial viability.’
News of the possible parliamentary scrutiny sent the company’s shares tumbling – they were last trading at 350p, down 10% on the day, at their lowest level since April.
Accountant Patrick Cryne, group chief executive at iSoft, was named entrepreneur of the year in the technology and communications category at the Ernst & Young entrepreneur of the year awards held last month.
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Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
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