Wirecard scandal sparks investor pressure for change in auditing market
EY under fire for role in auditing firm before collapse
Wirecard filed for insolvency following a €1.9bn finance gap. Photo: Victoria Huber/Flickr CC BY 2.0
Claims that compensation is owed to investors by Big Four auditor EY as a result of its handling of the Wirecard scandal have reignited concerns about how far investors can trust auditing work completed on investee companies, and has renewed calls for change in market practices.
EY has faced fierce criticism for its role as auditor of Wirecard, which has now filed for insolvency after it emerged that €1.9bn of cash on its balance sheet was unaccounted for, with particular scrutiny...
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