German watchdog finds EY’s Wirecard audits grossly negligent

EY’s audits of collapsed payments group Wirecard were “at the very least” negligent and in some cases grossly negligent, according to people with direct knowledge of the details of an investigation by the German audit watchdog.

Apas, however, did not establish criminal intent in the Big Four firm’s conduct and while its assessment is unflattering, it has been greeted with relief inside EY for this reason, said people familiar with the firm’s internal discussions.

Source: German watchdog finds EY’s Wirecard audits grossly negligent