iSoft case goes to accounting tribunal

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Accounting regulators have filed a complaint against RSM Robson Rhodes relating to the firm’s audit of health sector software house iSoft.

RSM Robson Rhodes LLP and Glyn Williams, an audit partner at the firm, will face a tribunal over claims relating to the audit of iSoft Group, thanks to a ruling by the executive counsel of the Accountancy & Actuarial Discipline Board (AADB).

The complaint relates to the years 2003, 2004 and 2005 and alleges acts of misconduct in relation to: inappropriate recognition of revenue on long-term contracts; iSoft’s failure to recognise on its balance sheet receivable balances and associated liabilities in relation to income streams from contracts which had been “sold” to a third party funding providers, and the audit of good...

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