German accounting reforms News

EY and Germany’s Finance Minister Blamed for Oversight Failings in Wirecard Collapse

BERLIN – German lawmakers presenting a report Tuesday into the collapse of the payment processing company Wirecard accused the country’s finance minister and auditors Ernst & Young of numerous oversight failings. Wirecard filed for protection from creditors through insolvency proceedings …

German Prosecutors Open Investigation into EY Auditors over Wirecard Collapse

MUNICH – German prosecutors on Friday opened an investigation into partners at EY who audited Wirecard , after an accounting watchdog filed a report accusing them of criminality in their work for the failed payments company. A spokeswoman for the …

German Lawmakers Agree to Corporate Accounting Reforms After Wirecard Scandal

Germany’s coalition parties have agreed a package of reforms to financial and accounting rules aimed at avoiding another Wirecard scandal, a document seen by Reuters shows. Lawmakers launched a parliamentary inquiry in an effort to force the government to reveal …