Hearing on Robson Rhodes Held Privately
The court hearing against RSM Robson Rhodes and former audit partner Glyn Williams that privately took place last week might have led to a decisive win for the Accountancy and Actuarial Discipline Board of the Financial Reporting Council.
The FRC previously announced that the hearing won’t be made public.
The announcement was made further to the announcement made on September 5, 2011 regarding the hearing of the formal complaint against RSM Robson Rhodes LLP and Mr Glyn Williams, a former audit partner at RSM Robson Rhodes, in relation to the audits of the accounts of iSoft Group plc and iSoft plc for the years ended 30th April 2003, 2004 and 2005.
The Disciplinary Tribunal has decided and issued a direction that, in the interests of justice in the light of the potential prejudice to ongoing criminal proceedings, the hearing would be held entirely in private.
Executive counsel Cameron Scott maintained that there won’t be a second hearing.
Scott said it was “right and proper” to hold the disciplinary hearing prior to the criminal case, arguing that there was “nothing to be gained by waiting” and that to proceed would be in the best interest of respondents. The AADB may not publish its findings before the hearing of the criminal case.
The Financial Services Authority, on the other hand, maintained that it would not be used in the iSoft prosecution no matter what the AADB’s findings would be.
“The outcome of a civil case cannot be admitted as fact and might prejudice jurors in a criminal proceeding,” Scott said.
The AADB investigation into RSM Robson Rhodes’ work on iSoft covers the three years up to April 30, 2005 from mid-2006, and took about three years to finish.
The AADB wishes to point out that the matters referred to above do not in any way relate to iSoft Group Limited, a company registered in Australia, formerly known as IBA Health Limited, and which now trades as iSoft in the UK.