Wirecard ‘Criminals’ Had Us Duped, EY Auditor Tells Lawmakers

March 19, 2021, 2:40 PM

An Ernst & Young LLP partner said his firm fell victim to “criminals” at Wirecard AG, rejecting allegations EY didn’t do enough to uncover wrongdoing at the now defunct payment processor.

EY’s auditors reacted swiftly in February 2019 after a Financial Times’ report of accounting irregularities emerged, Christian Orth, EY Germany’s professional practice director, told a German parliamentary committee on Friday. The accounting firm’s review at the time found the wrongdoing was limited to Singapore and failed to uncover evidence that top managers in Germany were involved, he said.

“There was a group of criminals that managed to deceive everyone ...

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