Investor group files criminal complaint against EY auditors

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The lettering of the payment service provider Wirecard can be seen on a laptop screen

Silas Stein | picture alliance | Getty Images

The German shareholders’ association SdK has filed a criminal complaint against the auditors of scandal-hit payments firm Wirecard.

SdK’s complaint targets two current and one former employees of Wirecard’s long-time auditors, EY Germany.

The accountancy last week refused to sign off Wirecard’s 2019 accounts after discovering 1.9 billion euros ($2.1 billion) of cash had gone missing from its balance sheet.

Munich-based Wirecard filed for insolvency on Thursday, marking a tumultuous fall for the group. Wirecard, which is still listed on the DAX 30, has seen its share price capitulate since the accounting black hole was revealed last week.

EY told CNBC late Thursday that there were “clear indications that this was an elaborate and sophisticated fraud, involving multiple parties around the world in different institutions, with a deliberate aim of deception.”

In attempt to defend its reputation, the group added that “even the most robust and extended audit procedures” couldn’t uncover what it called a “collusive fraud.”

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