iSoft FD to lead internal accounts probe

Healthcare software provider iSoft has a commissioned an internal
investigation into ‘possible accounting irregularities’.

The investigation will be led by finance director Gavin James who will work
alongside the company’s auditors Deloitte.

The concerns relate to previous profits booked by the company.

‘The board of iSoft has received information suggesting possible accounting
irregularities affecting revenue recognition under its former accounting policy
in the financial years prior to and including the year ended 30 April 2005,’
iSoft said in a statement.

‘The board has therefore commissioned an investigation into these possible
irregularities,’ it added.

iSoft has been hit by a succession of body blows of late – its share price
has fallen by almost 90% in the last year following a string of problems and
profit warnings related to its work on the £6.2bn pound technology upgrade of
the NHS.

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