Investors punish iSoft for revenue recognition woes. By John Stokdyk
Public sector software specialist iSoft informed the Stock Exchange on Thursday evening that it has commissioned an investigation into possible irregularities in its revenue recognition policies.
The company's share price dropped by more than 50% to 55p on Friday moring following the company's announcement on Thursday afternoon. Already struggling to keep its work on track for the NHS national programme for IT, iSoft announced two weeks ago that it would delay its prelim announcement while it reviewed its accounting policies.