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In the ongoing scandal of Wirecard, under fire for fraud, the focus is now turning to auditors Ernst Young EY , which reportedly failed to report Wirecard unorthodox financial arrangements as far back as 2016, The Wall Street Journal WSJ rep
stanley us orted.According to emails seen by WSJ, the auditing firm k
stanley de new of and had questions about the arrangements and was signing off on Wirecard financial results for years anyway.Marc Liebscher, a lawyer with the Berlin firm representing private Wirecard investors, called EYs auditing a disaster and said the firm 8220 hould stand trial as well, WSJ reported.The controversy is centered around a missing $2 billion from Wirecard, which was said to be stored in Philippines banks, but an investigation turned up nothing. The money represented around a quarter of the total revenue the company had between 2016 and 2019.Wirecard employed an unconventional measure in which it used third-party partners to process payments in countries where it wasn ;t licensed. The revenue from those businesses was deposited in trust accounts rather than p
stanley cup uk aid straight to the company. Wirecard explained that the money was kept that way for risk management, saying it could be saved to provide refunds or chargebacks if needed.According to WSJ, emails show that EY had knowledge regarding the way that money was handled back in 2016 and onward. There were allegedly multiple instances in which investors sent deta Zftw LVMH Sees Strong Growth With Kohl s-Sephora Partnership
Didi聽Chuxing聽and Alibabas Ant Financial are negotia
stanley cup ting a deal for a joint buyout of bike-sharing startup聽Ofo聽for $2 billion, according to a new report that cited a source with direct knowledge of the talks.The ridesharing firm and the Chinese eCommerce powerhouse are poised to mark the most recent deal in a wave of consolidations in the Chinese bike-sharing market, as thousands of bikes have littered major cities in recent years amid a large number of startups.The negotiations come months after聽Ofo聽rival聽Mobike聽was acquired for $2.7 billion by聽Meituan-Dianping, an on-demand service provider linked to Tencent, which backs聽Mobike.聽聽Didi, which already owns a stake in聽Mobike, has hired an outside firm to do due diligence on聽Ofo, the report said. The source noted that the offer price could be lowered or even withdrawn if聽Ofos聽financial
stanley cup s are less than what they originally presented. The joint bid was originally reported by local Chinese media.SoftBank Group, a leading robotics and technology firm based in Japan, is a shareholder in both Alibaba and Didi, and was a partner with聽Ofo聽in that companys expansion into Japan in 2017.聽Ofo, based in Beijing, says that it runs more than 10 million bikes in more than 20 countries. However, according to local media reports, the company has either scaled back or shut down operations in two key markets, India and Australia.In March, Ofo聽raised $866 million in a new funding round led by Alibaba, which the company claimed was a r
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