Wirecard was considered a beacon of hope in Germany after the banks collapsed due to the financial crisis in 2008. Now the public prosecutor’s office is talking about fictitious transactions and falsified balance sheets.
For Prof. Friedl state that it is somehow incomprehensible that auditors accepted the annual reports with no additional remark. It seems that state authorities have failed. The Federal Minister of Finance now wants to reform the control systems - the Federal Financial Supervisory Authority is to be given more staff and competencies to ensure better and stronger control.
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