Dear friends, dear interested, On my initiative, the European Parliament’s Committee for Economic and Monetary Affairs, jointly with the Committee for Legal Affairs, will hold a hearing on lessons from the Wirecard case tomorrow, 23 March. I am particularly happy that our invitation was accepted by journalist Dan McCrum of the Financial Times whose stubborn […]
Auditor in the Wirecard case: Fatal incentive structures need reform
An investigation by the Handelsblatt shows that the auditors at EY no longer “believed in the innocence of the management” of Wirecard already in early 2019. Previously, incriminating material had been leaked to the audit firm by a whistleblower. Wirecard’s supervisory board also knew about the auditors’ concerns. But EY caved in: Only weeks later, […]
Announcement: Olaf Scholz in the Economic and Monetary Affairs Committee of the European Parliament on 2 September from 2:15 pm
Dear friends, dear interested, Tomorrow, 2 September from 2.15 pm, Olaf Scholz will appear before the European Parliament’s Committee on Economic and Monetary Affairs (ECON) on behalf of the German presidency. The hearing can be followed live here. The following questions and topics could be relevant in the hearing with Olaf Scholz: How can large […]
European Parliament calls for tough examination of the Wirecard scandal and the failure of German supervisor BaFin
The Legal Affairs Committee and the Economic and Monetary Affairs Committee of the European Parliament have sent a joint letter to the EU Commission on Wirecard and European auditing rules. The letter was prepared by the coordinators of both committees. The EU-Commission is asked to closely examine the events surrounding the Wirecard bankruptcy, assess the […]
Liberals and Greens call for comprehensive reform of EU audit rules
Dear friends, dear interested, In the face of the massive accounting scandal unfolding at German payments service provider Wirecard, Luis Garicano and I as liberal and green coordinators in the ECON committee have published a joint appeal for a reform of the EU rules on statutory audits. Please, see below for our joint statement. […]