EY

[AtW]

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”.

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And the objective of an auditor was exactly what?

[AtW]

“ 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

[scooterscot]

Blockchain tech will save us. No manipulating those records.

[AtW]

Blockchain tech will save us. No manipulating those records.

And no recourse when money get transferred to another wallet by fraudsters..

[courtg9000]

Wirecard/Anna = Enron/Worldcom Mk2

[scooterscot]

Like the FED transferring wods to Banks but not the other 99% of users?

[AtW]

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

[darmstadt]

Blockchain tech will save us. No manipulating those records.

Or someone loses the Post-It note with the encryption password written down...