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    EY

    EY prepares for backlash over Wirecard scandal

    In an internal note to senior partners on Friday, EY advised them to tell clients that the “objective” of the large international fraud at Wirecard was to “deceive investors and EY”.

    Subscribe to read | Financial Times



    And the objective of an auditor was exactly what?

    #2
    “ The Financial Times revealed last week that Wirecard’s auditors in EY’s German office failed for at least three years to request crucial account information from a Singapore bank where Wirecard claimed it had up to €1bn in cash, a routine audit procedure that could have uncovered the fraud.”



    A German (!) listed (!) company keeps very material amount of cash anywhere other than Deutsche Bank’s branch located in Germany?

    Immediate red flag

    Comment


      #3
      Blockchain tech will save us. No manipulating those records.
      "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

      Comment


        #4
        Originally posted by scooterscot View Post
        Blockchain tech will save us. No manipulating those records.
        And no recourse when money get transferred to another wallet by fraudsters..

        Comment


          #5
          Wirecard/Anna = Enron/Worldcom Mk2
          Former IPSE member
          My Website

          Comment


            #6
            Like the FED transferring wods to Banks but not the other 99% of users?
            "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

            Comment


              #7
              Originally posted by scooterscot View Post
              Like the FED transferring wods to Banks but not the other 99% of users?
              The Fed is creating new money, not stealing them - if banks fold everybody is fooked, so the Fed is doing essential public service at the time of major disaster

              Comment


                #8
                Originally posted by scooterscot View Post
                Blockchain tech will save us. No manipulating those records.
                Or someone loses the Post-It note with the encryption password written down...
                Brexit is having a wee in the middle of the room at a house party because nobody is talking to you, and then complaining about the smell.

                Comment

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