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8/3, 4:59 PM (Source: TeleTrader)
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Ernst & Young probed over Wirecard case - report

Ernst & Young, the auditor that accused German fintech company Wirecard AG of fraud in June, is under the investigation of German Auditors’ Regulator (Apas), Handelsblatt reported on Monday, citing a confidential document it obtained.

Apas is sifting all the Wirecard audits that Ernst & Young conducted since 2015 in order to determine if the auditors adhered to professional standards and followed regulations while checking Wirecard's transactions, the report read.

At the end of June, Japanese SoftBank Group Corp. reportedly announced that it's taking legal action against EY, while German shareholder association Schutzgemeinschaft der Kapitalanleger e. V. (SdK) filed criminal charges against the EY's auditors working the Wirecard case.

Breaking the News / BU