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Wirecard scandal could lead to audit separation, EU payment supervision, Dombrovskis says

By Jack Schickler ( July 24, 2020, 10:32 GMT | Insight) -- Wirecard's financial scandal could lead to a wide-ranging review of EU accounting, reporting and market-abuse rules, as well as bring large payment providers under supervision, the bloc's financial-services chief Valdis Dombrovskis has said. The European Commission is considering forcing a structural separation of audit from consultancy functions at major accountancy firms after the German payments company revealed that almost 2 billion euros was missing from its accounts.Wirecard's financial scandal could lead to a wide-ranging review of EU accounting, reporting and market-abuse rules, as well as bring large payment providers under supervision, European Commissioner Valdis Dombrovskis has said. ...

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