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Head of German accounting watchdog to step down in wake of Wirecard

The head of Germany's accounting watchdog, under fire for failing to spot wrongdoing ahead of the collapse of the payments company Wirecard, is stepping down. The agency, formally known as the Financial Reporting Enforcement Panel (FREP), said in a statement on Wednesday that President Edgar Ernst is leaving his post at his own wish, effective Dec. 31. Ernst has also come under criticism for potential conflicts of interest because he held seats on supervisory boards of major corporations, including real-estate company Vonovia, retailer Metro and tour operator TUI.

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German accounting watchdog head to step down in wake of Wirecard scandal

German accounting watchdog head to step down in wake of Wirecard scandal
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Head of German accounting watchdog to step down in wake of Wirecard

Head of German accounting watchdog to step down in wake of Wirecard
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