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EY Germany Faces 2-Year Ban Over Wirecard

by Starling Insights

Starling Insights Editorial Board

Apr 03, 2023

Observations

Earlier today, German audit watchdog Apas announced that it was banning EY from taking on new listed clients for two years and fined it €500,000 for its failures in auditing Wirecard. Apas also fined five current and former EY employees between €23,000 and €300,000 each.

In the statement, Apas wrote that it "considered violations of professional duties during the audits of Wirecard and Wirecard Bank from 2016 to 2018 as proven."

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EY Germany Faces 2-Year Ban Over Wirecard

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