Volkswagen Investors to Oppose EY as Auditor Over Wirecard Role

Some Volkswagen AG shareholders will oppose Ernst & Young’s reappointment as the German automaker’s auditor, in the latest fallout from the accounting firm’s prior work for collapsed payments business Wirecard.

Volkswagen investors are set to vote on a measure to maintain EY as its auditor during the automaker’s annual meeting May 16. German lawyer Wolfgang Schirp said private shareholders he represents plan to reject EY’s continuing as Volkswagen’s auditor.

The firm has audited Volkswagen’s financial statements since 2020, the same year that Wirecard collapsed following a nearly 2 billion euro ($2.2 billion) accounting fraud ...