Düsseldorf Decision hardly tough: Auditing company EY must work for former DAX Group wirecard Has breached professional duties for more than four years. According to information received from Handelsblatt, this result came after more than two years of investigation by the Auditor Supervisory Body (APAS).
The supervisory authority responsible for the auditors has been taking formal business proceedings against the individual auditors and against the company since June 2020. The process is expected to be completed in October. After the investigation is complete, a mutual chamber decides on the possible punishment. Former Wirecard auditors are threatened with severe financial and business sanctions.
According to insiders, the auditor supervision is in regular touch with the EY amongst themselves. Although the supervisory process is clearly nearing completion, it is understood that there are still varying positions on the material. Both sides are also fighting till the end over possible sanctions.
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Connor Beaumont is a contributor to CA News Ottawa, covering news, politics, business, technology, sport, entertainment, and lifestyle. He focuses on clear, accurate reporting and useful information that helps readers stay informed about current affairs and developments that shape their communities. His work highlights relevant stories, emerging trends, and important issues, presenting them in a balanced, accessible, and reader-friendly manner.
