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European Union rules on company financial information need to be updated to apply the lessons of the collapse of German payments firm Wirecard, the bloc's securities watchdog said on Wednesday.
By Reuters Staff 2 Min Read FILE PHOTO: The logo of Ernst & Young is seen in Zurich, Switzerland November 13, 2020. REUTERS/Arnd Wiegmann BERLIN (Reuters) - EY Germany said its head, Hubert Barth, was stepping down and announced plans for a programme to help restore trust in its work as an auditor following the collapse of payment services firm Wirecard. In December, German prosecutors opened an investigation into partners at EY over the Wirecard scandal after an accounting watchdog filed a report accusing them of criminality in their work for the failed payments company. EY has lost a number...
Norway's $1.3 trillion sovereign wealth fund, the world's largest, is considering how to ensure high quality audits are conducted in the roughly 9,100 companies in which it invests, a top fund official told Reuters.
Frankfurt prosecutors are looking into German financial regulator BaFin's handling of collapsed payments company Wirecard, a spokesman for the prosecutor's office said on Wednesday.
The U.S. Securities and Exchange Commission on Tuesday suspended two former KPMG auditors from practicing before the regulator for allegedly failing to properly conduct an audit of a now-defunct, not-for-profit college that overstated its assets.