Wirecard Hires Independent Auditor Amid Accounting Claims

Law360, London (October 21, 2019, 1:24 PM BST) -- German payment company Wirecard announced on Monday that it has hired Big Four auditing firm KPMG to review its finances in the wake of allegations that it inflated sales figures and profits.

Wirecard AG said the company’s management and supervisory boards had agreed to conduct “an additional independent audit to clarify fully and independently all accusations raised” about accounting practices at its Singapore office.

KPMG International will have “unrestricted access to all information on all levels of the group,” Wirecard said. The review will begin immediately and KPMG's findings will be published.

“We have complete confidence in the audit procedures performed to date,...

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