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4 Jun 2015 11:19am

FRC brings complaint against members

The Financial Reporting Council’s (FRC) executive council has delivered a formal complaint against two ICAEW members

The disciplinary procedure, which is being brought against Timothy Whiston and John Whelan, relates to the preparation, approval and audit of financial statements for iSoft for the financial years ending in 2004 and 2005.

The complaint alleges that Whiston – the former FD and CEO of iSoft, the healthcare IT specialists – and group FD John Whelan breached the “fundamental principle of integrity”.

The complaint also alleged that this breach meant the two men had fallen “significantly short of the standards reasonably to be expected of members of the ICAEW”.

The FRC said the breaches had occurred in relation to iSoft’s recognition of cash and revenue from a contract with the Irish South Eastern Health Board between 2003 and 2004.

Oliver Griffin

 

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