Feeds

NHS provider looking critical

iSoft faces FSA probe

Secure remote control for conventional and virtual desktops

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. ®

Internet Security Threat Report 2014

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Special pleading against mass surveillance won't help anyone
Protecting journalists alone won't protect their sources
Big Content Australia just blew a big hole in its credibility
AHEDA's research on average content prices did not expose methodology, so appears less than rigourous
Vodafone to buy 140 Phones 4u stores from stricken retailer
887 jobs 'preserved' in the process, says administrator PwC
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.