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KfW, Germany’s third-largest bank by assets, may drop Ernst & Young as auditor as EY continues to be plagued by its role in the country’s Wirecard accounting scandal.September 22
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Germany’s financial regulator is considering opening a probe into Grenke AG’s accounting practices, wading deeper into the controversy after criticism of its failure to unearth fraud at Wirecard AG.September 21
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The U.K.’s Financial Reporting Council sanctioned Deloitte and two of its former partners for their audits of the software company Autonomy prior to its acquisition by HP and levied a record penalty.September 17
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Ernst & Young is sending letters to clients admitting it failed to uncover fraud at the payment company sooner.September 15
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The COVID-19 pandemic is encouraging various forms of fraud, according to the Association of Certified Fraud Examiners.September 11
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COVID-19 has created new challenges and a remote work environment that heightens the risk of fraud at public companies.September 10
Chair, Securities & governance practiceRopes & Gray
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Germany’s blame game over Wirecard AG’s collapse is focusing on the question of why authorities failed to take a harder look at the payments company before it became the country’s biggest accounting scandal in living memory.August 31
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The fraud that brought down tiny Commerzialbank Mattersburg im Burgenland AG raises questions for financial regulators and auditors that have uncomfortable echoes of the Wirecard AG debacle in neighboring Germany.August 19
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With the recent economic slowdown, companies are under increased pressure to show stability, or even growth, and paint a rosy picture for investors.August 18
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PPC Ltd., South Africa’s largest cement maker, plunged deeper into crisis after reporting accounting errors and delaying the release of full-year earnings for a second time.August 18
