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...Over several years, the firm also failed to request crucial account information from a Singapore bank where Wirecard claimed it had large amounts of corporate cash....
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...After Wirecard’s collapse, it emerged that EY over several years failed to request crucial account information from a Singapore bank where Wirecard claimed the cash was deposited — a routine audit procedure...
...In the professional services, the numbers leaving firms of their own accord have swung to historic lows, as tech groups, investment banks and other destinations have gone from hiring mode to firing mode....
...different to those reported by other banks and consumer instalment lenders with similar products and credit profiles....
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...Apas, the watchdog, last year concluded that EY violated its professional duties “during the audits of Wirecard and Wirecard Bank from 2016 to 2018”....
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...to the lower-income people that mainstream banks won’t touch....
...“We would never accept that with the banks, why accept it with the audit firms?” he added....
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...It has since hived off its lucrative government consulting business into an independent firm and lost some contracts, including with the bank Westpac, an audit client for two decades....
...The Bank of England raised interest rates 14 times between December 2021 and August 2023, from a record low of 0.1 per cent to 5.25 per cent....
...Their primary defence states that since Scintilla was designated as a “non-operating entity”, the mailbox along with a Texas bank account with a $60,000 deposit opened three days before the bankruptcy was...
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...Last year he signed a 10-year contract worth $700mn — the biggest in professional sport — to join the Dodgers, the team controlled by Guggenheim Partners chief executive Mark Walter....
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