“The auditors missed that €1.9bn in cash was probably never there. That’s a mistake that would send most companies or professionals into the dustbin. But the largest global audit firms are special.” – by Francine McKenna
Wirecard
Supervisory Board and Management Board should be completely renewed – Der Spiegel
“KPMG said that certain Wirecard sales, cash holdings and customers could not be verified. And that after five months of investigation. In our opinion, this also means that Ernst & Young, as a long-time auditor, did not properly check the balance sheets. How can anyone – be it shareholders, creditors, regulators or customers – still trust this company? […]