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September 5, 2011

iSoft auditors Robson Rhodes to face AADB

Former UK firm RSM Robson Rhodes and its audit partner Glyn Williams will face the Accountancy & Actuarial Discipline Board (AADB) in October in relation to the audit of hospital software provider iSoft.

RSM Robson Rhodes, now part of Grant Thornton, was iSoft’s auditor from 2003-2005. Deloitte took over as iSoft’s auditor in 2006.

In December 2006, iSoft declared in its half yearly report that possible accounting irregularities had come to light. It appeared that some revenues reported in 2003/04 and 2004/05 may have been recognised earlier than they should have been.

The AADB banned former iSoft financial controller Ian Storey from the Institute of Chartered Accountants in England and Wales for eight years and fined him £20,000 ($30,000) in March 2010.

Storey admitted that on several occasions between November 2003 and November 2005 he gave misleading information about an iSoft contract to iSoft auditors.

RSM Robson Rhodes was also investigated by the UK Accountancy Investigation and Discipline Board (AIDB) following the discovery of the accounting irregularities.




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