FD leaves as CSC deals with NHS accounting errors
Neil Malcolm has left CSC in the last month, according to reports. The company revealed a $24m accounting error in its NHS IT contract figures last week
THE UK FINANCE DIRECTOR of IT outsourcing giant CSC has left the company, as it deals with accounting irregularities across its international regions.
Neil Malcolm left CSC in the last month, according to ComputerWeekly, as the company revealed last week that $24m (£15m) of operating income from its NHS IT contract had been overstated.
The error was discovered by accounting investigators. An SEC probe into the company has found other accounting errors across its Nordic, Americas and Australia businesses.
CSC said it was not company policy to discuss internal matters or those relating to staff departures.
In its SEC statement last week, CSC said that “certain CSC finance employees” were aware of the NHS contract accounting error but “failed to appropriately correct the errors”.
“Therefore, the company has classified these errors as intentional. Such categorization was provided to the company through the independent investigation. As a result, certain personnel have been suspended and additional disciplinary actions are being considered,” it said.