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RSM Robson Rhodes named in AADB complaint
Today
Investigation into iSOFT audits leads to tribunal for firm and partner
RSM Robson Rhodes LLP and one of the firm?s audit partners, Glyn Williams, face a disciplinary complaint from the AADB?s executive counsel, in relation to the preparation, approval and audit of the financial statements of iSOFT Group plc for the financial years ended 2003, 2004 and 2005.

The complaint follows on from an investigation into the firm?s conduct, which began in October 2006 and was subsequently widened to include the conduct of Williams, among others.

The complaint relates to the audits of the accounts of iSOFT Group Plc and its principal subsidiary, iSOFT plc, for the years ended 30 April 2003, 2004 and 2005. In particular, the complaint 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 finally the audit of goodwill balances.

An independent tribunal will be appointed to hear the complaint.

The AADB has stressed that the matter in no way relates to iSOFT Group Limited, a company registered in Australia, formerly known as IBA Health Limited.

Robson Rhodes merged with Grant Thornton in 2007. The affiliated firm for RSM International in the UK is now Tenon Group.