BusinessCompany NewsIsoft FD steps down and shares fall

Isoft FD steps down and shares fall

The finance director of healthcare IT specialist, iSoft, has stepped down, causing the company's shares to fall more than 10 per cent.

Link: ‘Little change under IFRS’ for Smith & Nephew

John Whelan, who was appointed FD in February, will be pursuing opportunities in the private equity sector.

Isoft chief executive Tim Whiston said the departure was a personal decision by Whelan and was amicable, coming shortly after Isoft’s acquisition of rival Torex.

According to the Financial Times, analysts say Whelan’s departure has re-ignited questions about the company’s accounting practices that were raised in the summer – and which also affected its share price.

No specific issues have been pinpointed, but the paper says analysts are hoping for an outsider to take on the FD’s role in order to provide new assurance on the accounting issue.

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor