EY said in June 2020 that there were clear indications of an elaborate and sophisticated fraud at Wirecard aimed at deliberate deception, presenting itself as deceived.

Why this label

AFP quoted EY on the fraud and reported that EY said it had been given false statements during the 2019 audit^S5. That a deliberate deception took place is consistent with the wider Wirecard record covered elsewhere. The suggestion that EY was only a victim goes beyond the record. APAS considered professional duty violations proven in EY's audits for 2016 to 2018^S2 and EY accepted the sanctions^S3. Being deceived and auditing below standard are not exclusive, and the oversight record establishes the second. EY regretted that the fraud was not uncovered earlier^S2. The fraud part is supported, the implied blamelessness is not.

Current procedural position

Company statement of 25 June 2020^S5. APAS sanctions of April 2023 accepted without appeal in March 2024^S2S3.

Evidence score: 69 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.

Timeline

1. 25 June 2020EY speaks of an elaborate and sophisticated fraud^S5
2. 3 April 2023APAS sanctions reported^S2
3. 27 March 2024EY accepts the sanctions^S3

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.
  • 31 March 2023 Two year bar on new public interest audit mandates from finality and EUR 500,000 fine on EY^S2S8
  • 27 March 2024 EY says it will not appeal^S3

Revision history

• 25 October 2026 Assessment first published with label Partly supported.

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

Sources

1. S5Tier C Accused of 'elaborate fraud', Wirecard files for insolvencyANSA, carrying AFP. Press report. 25 June 2020.Wire report quoting EY's June 2020 statement. It records EY's position, not a finding.Link working, checked 25 October 2026
2. 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
3. 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
4. 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.

Other claims about Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft

• Supported77
  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.
  Press report, 3 April 20235 records citedAccounting
• Unresolved59
  Thousands of Wirecard investors claimed in a KapMuG model case that EY is liable to them for its unqualified audit certificates for fiscal years 2014 to 2018.
  Official report, 28 February 20254 records citedAccounting