Business
EY warned Wirecard that special audit risked misinterpretation – The Australian Financial Review
The German payments group’s auditor intervened just a day before the April publication of the KPMG report which raised doubts about a company now exposed in one of the country’s biggest postwar accounting frauds.
According to our view, the topic of third-party acquiring needs to be put in an overall context, they wrote to then-chief executive Markus Braun, other members of Wirecards management board and supervisory board chairman Thomas Eichelmann, according to a document seen by the FT. Reporting solely on KPMG’s forensic investigation carries the danger of misinterpretation, they noted.
They added that the second draft of the audit contained information that was inconsistent with that provided by the …
Continue Reading