The misconception in the Wirecard miracle

The committee of inquiry into the Wirecard scandal has almost finished its work. After hundreds of hours, a terrifying picture emerges.

Chancellor Angela Merkel appeared as the most prominent witness on April 23, 2021 before the Wirecard U Committee.

Whe bears the political responsibility for the Wirecard disaster? That is the central question in the committee of inquiry that the Bundestag set up last autumn. With Finance Minister Olaf Scholz and Chancellor Angela Merkel, the witness questioning came to a crowning conclusion this week, even if there were still a few follow-ups in May. After hundreds of hours, a terrifying picture emerges.

The course of the failures begins in the supervisory board, leads through auditors and supervisory authorities and ends in the federal government. The company’s supervisory body has repeatedly been put off by the management board and ultimately let itself be deceived. EY’s auditors have audited figures that have been cooked up for years without any restrictions. Now the accounting law experts can be credited with the fact that they did not have to assume that they were dealing with a gang of fraudsters on the board of directors. But as the special investigator of the committee of inquiry is said to have stated in his secret report, the examiners did not work according to all the rules of their subject. Carefully worded. It was only a year ago that the forensic special auditors discovered that there was no evidence for the trust accounts on which central values ​​of the group were supposed to be located. Whether EY should have recognized this earlier, too, will be a matter for the courts.