PracticeAuditAADB investigates iSoft concerns

AADB investigates iSoft concerns

Audit watch dog announces closed hearing

The audit watchdog will investigate an accountant connected with the troubled NHS software firm iSoft, in a closed hearing next week.

In a short statement, the Accountancy and Actuarial Discipline Board (AADB) said it would hear matters in relation to the iSoft Group at a series of hearings between 23 and 26 February.

It comes following the appearance of four former iSoft executives in court last month accused of booking millions in revenue and deceiving their auditors and directors. The four were expected to deny the allegations.

ISoft contacted the FSA in 2006 after its auditors discovered problems with its 2004-05 accounts. The firm later restated its accounts by £174 million after concerns were raised about whan the company was booking revenue from lucrative contracts.

Read the full AADB statement here

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