Feeds

NHS provider looking critical

iSoft faces FSA probe

Application security programs and practises

The company providing the lion's share of the government's programme to transform NHS IT is facing a formal investigation by the Financial Services Authority (FSA).

In a statement given to the London Stock Exchange today, iSoft said:

On 8 August iSOFT announced that it had completed an initial investigation into possible accounting irregularities. The conclusion of this initial investigation was that there is evidence of irregularities affecting the financial years ended 30 April 2004 and 2005 and that there are grounds for a more formal investigation. The findings of the initial investigation were passed by the Group to the FSA. The Group has now received notification from the FSA that they will be undertaking a formal investigation into the possible accounting irregularities."

A spokesman for iSoft told The Reg that former commercial director Steve Graham and another employee had already been put on "special leave". He said: "The other people thought to be involved have already left the company."

Labour MP Paul Farrelly yesterday called for a Department of Trade and Industry investigation into the company.

In other news, UK newspaper The Guardian has given notice that it will seek to remove a gagging order, granted by the High Court, which stops the paper publishing information from two secret iSoft documents it obtained during an investigation into the company.

iSoft must publish its accounts for the year ended 30 April 2006 or face having its shares suspended by the FSA.

iSoft shares have fallen from a year high of 465p per share to just 40p a share today. ®

HP ProLiant Gen8: Integrated lifecycle automation

More from The Register

next story
Arrr: Freetard-bothering Digital Economy Act tied up, thrown in the hold
Ministry of Fun confirms: Yes, we're busy doing nothing
ONE EMAIL costs mining company $300 MEEELION
Environmental activist walks free after hoax sent share price over a cliff
'Blow it up': Plods pop round for chat with Commonwealth Games tweeter
You'd better not be talking about the council's housing plans
Help yourself to anyone's photos FOR FREE, suggests UK.gov
Copyright law reforms will keep m'learned friends busy
Apple smacked with privacy sueball over Location Services
Class action launched on behalf of 100 million iPhone owners
UK government officially adopts Open Document Format
Microsoft insurgency fails, earns snarky remark from UK digital services head
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Securing Web Applications Made Simple and Scalable
Learn how automated security testing can provide a simple and scalable way to protect your web applications.