1. Exclusive: Germany missed chances to put Wirecard on watchlist - source  Yahoo Finance
  2. Critics' ire turns on auditor EY after Wirecard collapse  Rappler
  3. Wirecard continues operations sans insolvency filing – The Manila Times  The Manila Times
  4. Wirecard's Bean Counters Are in Trouble Again  Bloomberg
  5. 'The Enron of Germany': Wirecard scandal casts a shadow on corporate governance  CNBC
  6. View Full coverage on Google News
German regulators twice looked into tightening the supervision of collapsed payments firm Wirecard and discussed it with the German and European central banks but no action was taken, a person with direct knowledge of the talks told Reuters. Wirecard's implosion came years after the first allegationsGerman regulators twice looked into tightening the supervision of collapsed payments firm Wirecard and discussed it with the German and European central banks but no action was taken, a person with direct knowledge of the talks told Reuters. Wirecard's implosion came years after the first allegations

Exclusive: Germany missed chances to put Wirecard on watchlist - source

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By Mauro Orru Wirecard AG shares soared higher Monday after the company said Saturday that its business activities are continuing despite its having filed for insolvency in a court in... | June 29, 2020By Mauro Orru Wirecard AG shares soared higher Monday after the company said Saturday that its business activities are continuing despite its having filed for insolvency in a court in... | June 29, 2020

Wirecard : Shares Soar as Business Activities Continue Amid Insolvency Filing | MarketScreener

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Following a climatic drop in the Wirecard share price, the German shareholders' body holds EY responsible for not alerting the public sooner.Following a climatic drop in the Wirecard share price, the German shareholders' body holds EY responsible for not alerting the public sooner.

Wirecard Fallout: Auditor EY Accused of Not Flagging $2.1B Black Hole Sooner - CoinDesk

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Even with ample warning, German authorities failed to catch accounting issues at the digital-payments company.Even with ample warning, German authorities failed to catch accounting issues at the digital-payments company.

Wirecard: Collapse reveals Germany's financial oversight problems | News | Al Jazeera

Gains attributed in part to talk of potential acquisition for parts of scandal-hit German companyGains attributed in part to talk of potential acquisition for parts of scandal-hit German company

Wirecard investors remain on roller coaster as shares surge 150% - MarketWatch

FRANKFURT, June 28 — Global audit giant EY is facing growing questions and threats of legal action over its role in the bankruptcy of German payments processor Wirecard after signing off on the accounts for years. Some plaintiffs have already launched legal cases against EY after Wirecard’s...FRANKFURT, June 28 — Global audit giant EY is facing growing questions and threats of legal action over its role in the bankruptcy of German payments processor Wirecard after signing off on the accounts for years. Some plaintiffs have already launched legal cases against EY after Wirecard’s...

Critics’ ire turns on auditor EY after Wirecard collapse | Money | Malay Mail

German stock exchange operator Deutsche Boerse said on Monday that it was studying revisions to membership rules for Germany's premier stock market index, the DAX, in the wake of an accounting scandal surrounding Wirecard .German stock exchange operator Deutsche Boerse said on Monday that it was studying revisions to membership rules for Germany's premier stock market index, the DAX, in the wake of an accounting scandal surrounding Wirecard .

Deutsche Boerse to study revising DAX membership rules in wake of Wirecard - Reuters

The German government plans to terminate its contract with the country's accounting watchdog after payments company Wirecard filed for insolvency last week in one of Germany's biggest fraud scandals, a government official said on Sunday.The German government plans to terminate its contract with the country's accounting watchdog after payments company Wirecard filed for insolvency last week in one of Germany's biggest fraud scandals, a government official said on Sunday.

Germany to sever ties with accounting watchdog after Wirecard scandal | Reuters

Following last week's action by the Financial Conduct Authority to suspend business at Wirecard UK, the watchdog says it has seen good progress by the battered payments processor in meeting conditions for a return to operational activity.Following last week's action by the Financial Conduct Authority to suspend business at Wirecard UK, the watchdog says it has seen good progress by the battered payments processor in meeting conditions for a return to operational activity.

FCA says Wirecard making 'good progress'; fintechs warn of economic catastrophe

FRANKFURT AM MAIN: German payments provider Wirecard said Saturday that it would continue to operate despite filing for insolvency following a vast accounting fraud scandal.FRANKFURT AM MAIN: German payments provider Wirecard said Saturday that it would continue to operate despite filing for insolvency following a vast accounting fraud scandal.

Wirecard to continue operating despite filing for insolvency

Germany's BaFin regulator had just one employee overseeing Wirecard, claims the Frankfurter Allgemeine newspaper. The online payments provider says its business "will be continued," despite its insolvency filing. Germany's BaFin regulator had just one employee overseeing Wirecard, claims the Frankfurter Allgemeine newspaper. The online payments provider says its business "will be continued," despite its insolvency filing.

Wirecard overseen by ′only one′ German regulatory staffer: report | News | DW | 28.06.2020

Shares in German firm Wirecard have rebounded more than 200 per cent just days after filing for insolvency.Shares in German firm Wirecard have rebounded more than 200 per cent just days after filing for insolvency.

Wirecard shares skyrocket just days after filing for insolvency : CityAM

WIRECARD, the German scandal-hit payments company, said on Saturday it would proceed with business activities after filing for insolvency and expects a provisional administrator to be appointed by judicial authorities shortly. Read more at The Business Times.WIRECARD, the German scandal-hit payments company, said on Saturday it would proceed with business activities after filing for insolvency and expects a provisional administrator to be appointed by

Beleaguered Wirecard to proceed with business after insolvency, Banking & Finance - THE BUSINESS TIMES

Investors rightly wonder why the accounting giant Ernst & Young didn’t realize something was amiss earlier. Auditors need to step up.

Wirecard's Bean Counters Are in Trouble Again - BNN Bloomberg

The former fintech darling collapsed after admitting £1.7bn on its balance sheet probably did not exist The former fintech darling collapsed after admitting £1.7bn on its balance sheet probably did not exist

Germany to overhaul accounting regulation after Wirecard scandal

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The agency wants more timely information on the banks it supervises; investors filed a criminal complaint against Ernst & Young, calling their work “a disaster” for failing to expose the scandal.The agency wants more timely information on the banks it supervises; investors filed a criminal complaint against Ernst & Young, calling their work “a disaster” for failing to expose the scandal.

FDIC looks to ditch call reports; Wirecard’s long-time auditor under fire | American Banker

Boutique lender ME Bank and Bendigo and Adelaide Bank as well as big four major Westpac all had commercial links to the collapsed German firm.Boutique lender ME Bank and Bendigo and Adelaide Bank as well as big four major Westpac all had commercial links to the collapsed German firm.

‘Big Four’ accountancy firm EY failed to request account information from a Singaporean bank reportedly used by German lender Wirecard for almost three years, a report from the Financial Times has claimed. According to the FT, Wirecard claimed it had almost £1bn in cash contained within Singapor ...‘Big Four’ accountancy firm EY failed to request account information from a Singaporean bank reportedly used by German lender Wirecard for almost three years, a report from the Financial Times has claimed. According to the FT, Wirecard claimed it had almost £1bn in cash contained within Singapor ...

EY failed to check Wirecard’s Singaporean accounts for three years, reports claim - Post

Wirecard may feel like a faraway tale of a crooked German firm but it's more local than you'd think. For starters, "Europe's Enron" comes just as the region is plotting to take control over increasing amounts of regulated business from the City, post-Brexit. Many continental financial firms and their clients have been sceptical about the capabilities of their local regulatorsWirecard may feel like a faraway tale of a crooked German firm but it's more local than you'd think. For starters, "Europe's Enron" comes just as the region is plotting to take control over

Why Revolut should sift for gold through the smoking ruins of Wirecard | London Evening Standard

Wirecard shares more than doubled after the embattled payments company said its business activities were continuing to operate and speculation arose that rivals might snap up some of its operations.Wirecard shares more than doubled after the embattled payments company said its business activities were continuing to operate and speculation arose that rivals might snap up some of its operations.

Wirecard shares jump as purchase talk swirls | Sharecast.com

FRANKFURT AM MAIN: German payments provider Wirecard said on Saturday (Sunday in Manila) that it would continue to operate despite filing for insolvency following a vast accounting fraud scandal. The group admitted this week that the 1.9 billion euros ($2.1 billion) missing from its accounts likely does not exist, in a spiraling saga that has […]

Wirecard continues operations sans insolvency filing – The Manila Times

The implosion of Wirecard in one of the biggest financial scandals in German corporate history leaves creditors who lent it as much as €3.2 billion (S$5 billion) wondering if they will ever see their money again.. Read more at straitstimes.com.Banking News -The implosion of Wirecard in one of the biggest financial scandals in German corporate history leaves creditors who lent it as much as €3.2 billion (S$5 billion) wondering if they will

Wirecard's creditors set for battle over missing billions, Banking News & Top Stories - The Straits Times

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EY had concerns about Wirecard’s accounting practices as early as 2016 but continued to sign off the scandal-hit company’s results, according to reports.Internal emails are said to show the auditorEY had concerns about Wirecard’s accounting practices as early as 2016 but continued to sign off the scandal-hit company’s results, according to reports.Internal emails are said to show the auditor

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State-owned KfW faces potential losses of upto $112 million dollar due to Wirecard insolvency.State-owned KfW faces potential losses of upto $112 million dollar due to Wirecard insolvency.

German state bank faces $112 million of losses from Wirecard - world news - Hindustan Times

Ernst & Young, auditor to insolvent German company Wirecard, had questions related to unorthodox arrangements under which the company’s cash was held in bank accounts it didn’t control as far back as 2016, according to emails seen by The Wall Street Journal.Ernst & Young, auditor to insolvent German company Wirecard, had questions related to unorthodox arrangements under which the company’s cash was held in bank accounts it didn’t control as far back as 2016, according to emails seen by The Wall Street Journal.

Wirecard Scandal Puts Spotlight on Auditor Ernst & Young - WSJ

DUBAI: Careem, a unit of Uber Technologies, expects ride-hailing demand to recover to pre-pandemic levels “sometime” in 2021, encouraged by a better-than-expected pickup as countries started to ease coronavirus-related curbs. “It’s been a tough couple of months,” Careem Chief Executive Mudassir Sheikha told Reuters on Sunday. “It’s really anyone’s guess. We have planned for aDUBAI: Careem, a unit of Uber Technologies, expects ride-hailing demand to recover to pre-pandemic levels “sometime” in 2021, encouraged by a better-than-expected pickup as countries started to ease

Uber’s Middle East business Careem sees ride-hailing recovery next year | Arab News

EY failed to ask for Wirecard bank statements for 3 years [Financial Times] EY failed for more than 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 vast fraud at the German payments […]

Friday Footnotes: LOL, EY; 'That' KPMG Girl; SEC Enforcement Slowdown | 6.26.20 - Going Concern

EY failed to ask for Wirecard bank statements for 3 years [Financial Times] EY failed for more than 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 vast fraud at the German payments […]

Friday Footnotes: LOL, EY; 'That' KPMG Girl; SEC Enforcement Slowdown | 6.26.20 - Going Concern

EY, which had been checking Wirecard's books since 2009, now faces legal challenges of its ownEY, which had been checking Wirecard's books since 2009, now faces legal challenges of its own

Critics' ire turns on auditor EY after Wirecard collapse

Bild am Sonntag newspaper reported earlier on Sunday that the Justice and Finance Ministries would on Monday cut ties with the FREP, a quasi-private entity that supervises the financial statements of listed firms. “We have reached an agreement with the Finance Ministry to terminate the contract,” said the Justice Ministry official.Bild am Sonntag newspaper reported earlier on Sunday that the Justice and Finance Ministries would on Monday cut ties with the FREP, a quasi-private entity that supervises the financial statements of listed firms. “We have reached an agreement with the Finance Ministry to terminate the contract,” said the Justice Ministry official.

Germany to sever ties with accounting watchdog - The Economic Times

FT reported today that EY senior partners were given advice on how to convey to clients that EY was the poor victim in the Wirecard scandal.FT reported today that EY senior partners were given advice on how to convey to clients that EY was the poor victim in the Wirecard scandal.

EY Partners Told How to EYsplain Wirecard Mess to Clients - Going Concern

It announced on Sunday it had signed a multi-year agreement with VisaIt announced on Sunday it had signed a multi-year agreement with Visa

Uber's Middle East business Careem sees ride-hailing recovery by 2021 | Business – Gulf News