Feeds

iSoft probe gets formal

Evidence of irregularities for FY 2004, 2005

Choosing a cloud hosting partner with confidence

Troubled software firm iSoft Plc said today it has found evidence of possible accounting irregularities for the financial years 2004 and 2005.

In July iSoft commissioned an initial independent investigation into possible irregularities, which has now concluded there are grounds for “a more formal investigation.”

The investigation concluded there was evidence of irregularities for financial years ending April 30, 2004 and 2005. It said the "principal effects" appear to have been revenues being recognised earlier than they should have been. iSoft said there was no effect on the group's cash position.

The board has suspended Steve Graham, who was commercial director at the time, while it awaits the outcome of the formal investigation. Another employee has been put “on special leave of absence”. It said that other employees that “appear to be involved” have since left the company.

iSoft has had a pretty dreadful year. It has been forced to change the way it accounts for its revenues, forcing delays in its results. It has also had to slash its financial forecasts, and slash its headcount. CEO Tim Whiston left the firm in June.

This has all happened in parallel with the unravelling of the NHS IT system, which has had knock-on effects on suppliers, iSoft included.®

Beginner's guide to SSL certificates

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
In the next four weeks, 100 people will decide the future of the web
While America tucks into Thanksgiving turkey, the world will be taking over the net
Microsoft EU warns: If you have ties to the US, Feds can get your data
European corps can't afford to get complacent while American Big Biz battles Uncle Sam
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.