Quantcast
EY Germany head steps down in wake of Wirecard scandal - Metro US

EY Germany head steps down in wake of Wirecard scandal

Logo of of Ernst & Young is seen in Zurich

BERLIN (Reuters) – EY Germany said its head, Hubert Barth, was stepping down and announced plans for a programme to help restore trust in its work as an auditor following the collapse of payment services firm Wirecard.

In December, German prosecutors opened an investigation into partners at EY over the Wirecard scandal after an accounting watchdog filed a report accusing them of criminality in their work for the failed payments company.

EY has lost a number of prominent contracts since news of the Wirecard scandal broke.

The new programme, dubbed Trust in Quality, will focus on fostering a culture of professional scepticism and of challenging systems and processes as well as on strengthening governance, EY Germany said in a statement on Thursday.

It will include training programmes and a new risk committee. EY said it will also appoint a committee of independent experts to evaluate the company’s progress.

EY Germany chief Barth will be replaced by Henrik Ahlers and Jean-Yves Jegourel, the company said, adding that the move was due to a reorganisation of its leadership structure in Europe.

Barth will take on a new role within the company at the European level, it said.

The Financial Times had reported earlier on Thursday that Barth was set to step down.

(Reporting by Maria Sheahan, editing by Emma Thomasson)

More from our Sister Sites