Dusseldorf The verdict could hardly have been harsher: The auditing company EY is said to have violated professional obligations in their work for the former Dax group Wirecard for four years. According to information from the Handelsblatt, this result is emerging after more than two years of investigations by the auditor supervisory body (APAS).
The supervisory authority responsible for auditors has been conducting formal professional proceedings against individual auditors and one against the company itself since June 2020. The process is expected to be completed in October. After the investigation is complete, an Apas chamber decides on possible penalties. The former Wirecard auditors are threatened with severe financial and professional sanctions.
According to insider circles, the auditor supervision Apas is in regular contact with EY. Although the supervisory procedure is apparently nearing completion, it is understood that there are still different positions on the content. Both sides are also fighting to the end about possible sanctions.
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