Hints and tips:
Related Special Reports
...EY could also have faced unlimited liability for claims of damages from Wirecard’s administrator and former shareholders....
...He said this made it “much harder to enforce claims” over the Wirecard audits....
...But it has been barred from bidding for new audits of German-listed companies for two years after its failures at Wirecard. PwC took over as Credit Suisse’s external auditor from KPMG in 2020....
...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...
...Apas, the watchdog, last year concluded that EY violated its professional duties “during the audits of Wirecard and Wirecard Bank from 2016 to 2018”....
...Fugitive Wirecard COO Jan Marsalek used compromised intelligence officials in Vienna to spy on European citizens and plot break-ins and assassinations by elite Russian hit squads....
...“Whether it’s FTX, Boeing, the Post Office scandal, or even Wirecard, they are all governance failures,” he said....
...Shortly after Wirecard’s demise, Bellenhaus voluntarily travelled to Munich and turned himself in to prosecutors....
...Wirecard fugitive Jan Marsalek was recruited by Russian intelligence at a meeting on a yacht in July 2014, sparking a decade-long association with the country’s security services, according to new reports...
...On the second attempt, BaFin hung up on him after he had said he was calling about Wirecard....
...He sold E-Credit Plus to Wirecard, which rebranded it to Wirecard Asia....
...Braun claims that Wirecard’s outsourced operations were real....
...One year after the payment, KPMG scrutinised Wirecard’s accounts in a special audit....
...Azari’s guilty plea in 2022 was this first successful prosecution following Wirecard’s collapse....
...another Wirecard executive, Oliver Bellenhaus....
...Prosecutors allege Shan falsified letters at the behest of Jan Marsalek, Wirecard’s second-in-command, who has since gone into hiding, and Oliver Bellenhaus, the head of a Dubai-based Wirecard subsidiary...
...Wirecard’s former second-in-command also claimed that over time the TPA business was carved out of Wirecard and at one point did not depend on the group at all — “neither with regards to sales, finance and...
...and contrary to the opinion of Wirecard’s administrator and Munich criminal prosecutors....
...News round-up Andreessen Horowitz raises $7.2bn and sets sights on AI start-ups (FT) German watchdog finds EY’s Wirecard audits grossly negligent (FT) EU set to fine Oreo maker Mondelez for blocking cross-border...
...AG or its related parties”....
...Braun, who has denied any wrongdoing, had previously characterised himself as pushing hard to improve controls and compliance at Wirecard....
...Wirecard executives have been on trial in Munich since December last year....
...The firm is facing an avalanche of law suits from Wirecard investors and creditors seeking billions in damages....
...Weeks later, Wirecard collapsed into insolvency....
...In a statement on Monday morning, Apas said it “considered violations of professional duties during the audits of Wirecard and Wirecard Bank from 2016 to 2018 as proven”, without giving further details of...
International Edition