German watchdog sanctions auditor EY over Wirecard scandal
Accounting firm EY has been slapped with heavy sanctions by Germany’s audit watchdog Apas for failing to spot large-scale fraud at collapsed payments firm Wirecard. – AFP pic, April 3, 2023.
GERMANY’S audit watchdog today slapped heavy sanctions on accounting firm EY, which has come under scrutiny for failing to spot large-scale fraud at collapsed payments firm Wirecard. The German branch of EY is banned for two years from taking on new auditing assignments for entities “of public interest”, including listed companies, watchdog Apas said in a statement.
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