UK Watchdog Urges Big 4 Accounting Firms to Challenge Clients as Audit Quality Slides July 15, 2020 By Hugo Miller and Michael Kapoor The dominant accounting firms must do a better job of challenging their clients in order to reach a satisfactory level...
Wirecard Probe Expands with Arrest of Head of Dubai-Based Subsidiary July 7, 2020 By Douglas Busvine and Arno Schuetze BERLIN/FRANKFURT – German prosecutors said on Monday they had arrested the head of a Dubai-based subsidiary of Wirecard, widening the...
UK Accounting Watchdog Asks Big Four to Ring-Fence Audit Practices July 6, 2020 By Aoife White The UK dominant accounting firms must separate their audit units from other businesses by June 2024 as the country’s accounting...
From Enron to Wirecard – Big 4 Accounting Firms Still Face Systemic Problems July 2, 2020 By Ellen Milligan and Hugo Miller Two decades of financial disasters from Enron Inc.’s collapse in 2001 to Wirecard AG’s meltdown have left the Big Four...
Allianz Ends Relationship with Wirecard Amid Accounting Scandal July 1, 2020 Allianz said on Wednesday that it was ending its relationship with Wirecard Bank and removing from the market a mobile...
SoftBank May Sue Wirecard Accountant EY; EU Probes Germany’s Regulator June 26, 2020 By Jan Strupczewski and Huw Jones The European Union is investigating Germany’s financial regulator over the collapse of payments company Wirecard in a rare move that...
Former CEO of Wirecard Arrested in Accounting Scandal Involving Missing $2.1 Billion June 23, 2020 FRANKFURT – Wirecard’s former boss was arrested on Tuesday on suspicion of falsifying accounts, after the German payments firm disclosed...
British Accountants Under Pressure to Do More to Detect Fraud at Companies December 18, 2019 By Sinead Cruise and Huw Jones British accountants could be required to look for fraud at companies they audit under proposals made in a government-backed review...
South African Retailer Steinhoff to Sell Assets After $7B Accounting Fraud August 13, 2019 Scandal-hit South African retailer Steinhoff said on Tuesday its only hope for survival is to sell off assets to become...
Ex-CEO, 7 Other Execs Blamed for $7.4B Accounting Fraud at S. Africa Retailer Steinhoff March 19, 2019 Former Steinhoff Chief Executive Markus Jooste and seven others were involved in a 6.5 billion euro ($7.4 billion) accounting fraud...