EY Germany

EY’s Europe Restructuring Is Just ‘Rearranging the Deckchairs on the Titanic’

“This is rearranging the deckchairs on the Titanic. To regulators, they have always been giving warnings that if you close one down, we will be the Big 3 – so leave us alone, as we are ‘too big to fail’. Fundamentally, it’s the leadership culture and aggressively commercial model of these firms which is broken […]

German Investigator Can Confidently Prove EY Was Unbelievably Bad At Auditing Wirecard

Bloomberg reported on Saturday: A special parliamentary investigator lists far-reaching shortcomings in Ernst & Young’s audits of Wirecard AG before the German financial technology company collapsed last year, a person familiar with the report said. The investigator lists about 11 incidences where EY failed to take measures to uncover the multibillion fraud, said the person, who spoke […]

Wirecard Drama of the Day: Hubert Barth Was Most Likely Forced Out as EY Germany CEO

Whether it’s in the sports world or the business world, whenever you see a press release or an article that says, “[PERSON’S NAME] is stepping down from [HIS/HER] role as [EXECUTIVE JOB TITLE] and will be taking another position with the [TEAM NAME/COMPANY NAME],” it’s because that person sucked at his/her job or something bad […]

ey orlando

EY Partners Told How to EYsplain Wirecard Mess to Clients

The Financial Times reported on Monday: EY has told its partners how to prepare for difficult conversations with clients about its audits of Wirecard, the German payments company that has filed for insolvency after admitting that €1.9bn of cash probably never existed. In an internal note to senior partners on Friday, EY advised them to tell […]