BusinessCompany NewsiSoft commercial director suspended

iSoft commercial director suspended

Accounting irregularties uncovered at software group

Embattled healthcare software supplier iSoft has suspended its commercial
director Steve Graham after an initial inquiry found evidence of accounting
irregularities affecting its 2004 and 2005 financial years.

In an statement to the LSE, iSoft said: ‘The conclusion of the initial
investigation is that there is evidence of irregularities affecting the
financial years ended 30 April 2004 and 2005. The principal effects of this
would appear to have been to recognise revenues earlier than they should have
been. They do not have any effect on the cash position of the group.’

Under the circumstances, the board of iSoft said it was ‘appropriate to
suspend Steve Graham, who was commercial director at the time, pending the final
outcome of the more formal investigation’.

One other employee has been put on special leave of absence, while other
employees that appear to be involved have since left the group.

iSoft is a supplier for the £12.4bn overhaul of the NHS’s IT systems, which
has been plagued by problems.

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