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Supported

The cited record supports the material proposition.

Reports in April 2023 said the German audit oversight body APAS found professional duty violations in EY's Wirecard audits and barred it for two years from new listed audit clients.

taking on listed companies as new audit clients
About
Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft
Claim made by
Financial Times, press report
Published
3 April 2023
Original
German audit watchdog bans EY over Wirecard work
Evidence score
77 How it was scored
Last reviewed
25 October 2026

Why this label

The FT reported the two year ban and fines of up to EUR 500,000 each on the firm and five staffS1. LTO reported that APAS considered duty violations proven for the audits of fiscal years 2016 to 2018 and fined EY EUR 500,000S2. A legal publisher's report of the APAS press release of 3 April 2023 dates the decision to 31 March 2023 and limits the ban to new public interest mandates for two years from finalityS8. In March 2024 EY said it would not appeal and would fully observe the sanctionsS3. The APAS website blocks automated access, so the decision and release were not read in the original.

Current procedural position

APAS decision of 31 March 2023, announced on 3 April 2023S2S8. EY said in March 2024 it would not appeal and the proceedings were closedS3.

Record supporting the assessment

Berufspflichtverletzungen als erwiesen an
S2 Tier C Legal Tribune Online, Geldbußen und Einschränkungen bei neuen Mandaten: Apas sanktioniert EY nach Wirecard-Skandal, 3 April 2023
eine Geldbuße von 500.000 Euro
S2 Tier C Legal Tribune Online, Geldbußen und Einschränkungen bei neuen Mandaten: Apas sanktioniert EY nach Wirecard-Skandal, 3 April 2023
Man werde sich jedoch in vollem Umfang an die Sanktionen halten.
S3 Tier C ChannelPartner, Keine Rechtsmittel gegen Sanktionen: EY akzeptiert Strafen für Fehler bei Wirecard, 27 March 2024
hat am 31. März 2023 ihre Entscheidung gefällt
S8 Tier C Verlag Dr. Otto Schmidt, Berufsaufsichtsverfahren der Abschlussprüfer in Sachen Wirecard: APAS verhängt Sanktionen gegen Wirtschaftsprüfungsgesellschaft EY, 4 April 2023
bei Unternehmen von öffentlichem Interesse von zwei Jahren ab Bestandskraft des Bescheides
S8 Tier C Verlag Dr. Otto Schmidt, Berufsaufsichtsverfahren der Abschlussprüfer in Sachen Wirecard: APAS verhängt Sanktionen gegen Wirtschaftsprüfungsgesellschaft EY, 4 April 2023

Conflicting or limiting record

No record located that conflicts with this assessment.

Evidence score: 77 of 100

The score grades how well the record establishes this assessment. It is not a score of Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. Score = source authority + directness + corroboration + procedural accuracy + currency + reproducibility.

ComponentPointsMaxReason
Source authorityIs the source competent to establish the proposition?1930Two press reports and EY's own acceptance, without the APAS decision text.
DirectnessDoes the source state the proposition or only discuss adjacent facts?1720The reports state the findings and sanctions directly.
CorroborationDo independent records support the same material point?1315The FT, LTO, a legal publisher and the later EY statement agree.
Procedural accuracyDoes the record settle the procedural state the claim describes?1215EY did not appeal, but no official record of finality was read.
CurrencyHas the record been checked against later developments?910Checked against the March 2024 acceptance. No later change was found.
ReproducibilityCan a reader locate the passage and repeat the assessment?710The reports are public. The APAS site blocks automated access and the decision is not published in full.
Total77100

Timeline

  1. APAS decides on sanctionsS8
  2. APAS sanctions on EY announced and reportedS1S2
  3. EY says it will not appeal the sanctionsS3

Related cases

  • APAS and Ernst & Young GmbH WirtschaftsprüfungsgesellschaftAbschlussprüferaufsichtsstelle (APAS) at the Federal Office for Economic Affairs and Export Control. Audit. Not published.Stage: Sanctions accepted without appeal according to EY.
    • Two year bar on new public interest audit mandates from finality and EUR 500,000 fine on EYS2S8
    • EY says it will not appealS3

Responses

  • EY Germany, 3 April 2023: EY said it cooperated fully and regretted that the fraud was not uncovered earlier.S2
  • EY Germany, 27 March 2024: EY said it would not appeal but did not share APAS's assessments in full.S3

Revision history

  • Assessment first published with label Supported.

Have a record that changes this assessment? See corrections and responses.

Sources

  1. S2Tier C Geldbußen und Einschränkungen bei neuen Mandaten: Apas sanktioniert EY nach Wirecard-SkandalLegal Tribune Online. Press report. 3 April 2023.Legal news report using dpa material. Supports the findings for fiscal years 2016 to 2018, the EUR 500,000 fine and EY's response.Link working, checked 25 October 2026
  2. S3Tier C Keine Rechtsmittel gegen Sanktionen: EY akzeptiert Strafen für Fehler bei WirecardChannelPartner. Press report. 27 March 2024.Trade report with no byline quoting an EY spokesperson. Finality is EY's statement, not a confirmed legal status.Link working, checked 25 October 2026
  3. S8Tier C Berufsaufsichtsverfahren der Abschlussprüfer in Sachen Wirecard: APAS verhängt Sanktionen gegen Wirtschaftsprüfungsgesellschaft EYVerlag Dr. Otto Schmidt. Press report. 4 April 2023.Legal publisher's report citing the APAS press release of 3 April 2023, with no byline. Supports the decision date and the ban terms. The APAS original was not reachable.
  4. S1Tier C German audit watchdog bans EY over Wirecard workFinancial Times, republished by The Irish Times. Press report. 3 April 2023.Report by Olaf Storbeck based on people familiar with the matter. Supports the ban and fines but predates the formal decisions.Link working, checked 25 October 2026

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