Ex-iSoft finance chief gets eight-year ban

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Ian Storey admitted to the Accountancy and Actuarial Discipline Board that he had provided false and misleading information to iSoft's auditors over two years in relation to "a purported iSoft contract".

The disciplinary tribunal ordered that he should be excluded as a member of the Institute of Chartered Accountants for a minimum of eight years and ordered him to pay costs of £20,000.

But the tribunal said it could not publish its report on his case because four of his former colleagues — all directors of iSoft at the time — have been charged by the Financial Services Authority with conspiring to make misleading statements.

The four are former chairman and founder Patrick Cryne, former chief executive Timothy Whiston, former commercial director Steve Graham and former finance director John Whelan.

Digby Jones, former CBI director-general and trade minister, who was a non-executive director of iSoft when it admitted irregularities in its 2004 and 2005 accounts, is believed to have been interviewed by the FSA. He has not been charged.