Audit

Wirecard CEO Out After Auditors Reported $2B Is Missing
Wirecard CEO Out After Auditors Reported $2B Is Missing
June 19, 2020  |  Security & Fraud

The founder and CEO of Wirecard AG resigned Friday (June 19) one day after auditors revealed 1.9 billion euros ($2.1 billion) were missing from the...

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Wirecard Delays Annual Report After Auditors Can’t Confirm $2.1B In Cash Exists
Wirecard Delays Annual Report After Auditors Can’t Confirm $2.1B In Cash Exists
June 18, 2020  |  Security & Fraud

Wirecard has postponed publication of its 2019 annual report after disclosing that its auditor can’t confirm the existence $2.1 billion in trust accounts — or...

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Wirecard CEO Won’t Resign Despite Questions Raised By Audit
Wirecard CEO Won’t Resign Despite Questions Raised By Audit
May 04, 2020  |  Security & Fraud

Despite an audit that raised questions about operations at Wirecard, a publicly traded financial services provider based in Munich, its CEO has ignored calls to resign....

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Mnuchin: SBA PPP Loans Over $2M Face Audits Before Forgiveness
Mnuchin: SBA PPP Loans Over $2M Face Audits Before Forgiveness
April 29, 2020  |  Loans

Any small business getting an emergency coronavirus loan from the Small Business Administration (SBA) greater than $2 million will be subject to an audit, Treasury...

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Wirecard Says Audit Finds No Account Manipulation
Wirecard Says Audit Finds No Account Manipulation
March 13, 2020  |  Security & Fraud

German payments company Wirecard said that an auditing firm it hired found no evidence of account manipulation, according to a report by Reuters.  Auditing firm...

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Wirecard Chairman Resigns After Resisting Calls For Audit
Wirecard Chairman Resigns After Resisting Calls For Audit
January 13, 2020  |  International

Following months of debate, Wirecard chairman Wulf Matthias, citing personal reasons, has stepped down, the Wall Street Journal reported on Saturday (Jan. 11). Matthias, who...

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Deutsche Bank Admits Widespread Payment Failures To BoE
Deutsche Bank Admits Widespread Payment Failures To BoE
November 12, 2019  |  Bank Regulation

Deutsche Bank told U.K. regulators that it still has ongoing problems processing high-value payments despite more than three years of remediation efforts, the Financial Times...

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Where The Tax Man Will Knock Louder Post-Wayfair — And Sooner
Where The Tax Man Will Knock Louder Post-Wayfair — And Sooner
November 07, 2019  |  Taxes

The tax man looms across state and international borders, searching for digitally derived dollars due — scanning sites, platforms and even pop-up stores. For retailers...

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IRS Questioned Over Corporate Auditing Lag
IRS Questioned Over Corporate Auditing Lag
October 25, 2019  |  B2B Payments

The U.S. Treasury Inspector General for Tax Administration is calling into question the Internal Revenue Service’s corporate auditing performance. Bloomberg reported on Thursday (Oct. 24)...

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