DGAP-News: SCHIRP & PARTNER Rechtsanwälte mbB / Key word (s): Legal matter / Opinion
SCHIRP & PARTNER Rechtsanwälte mbB: WIRECARD investigation committee: Will the EY examiners refuse to testify? Plaintiff representative: The civil proceedings will bring the clarification
25.11.2020 / 15:12
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WIRECARD Committee of Inquiry: EY examiners refuse to testify
Plaintiff representative: The civil proceedings will bring the clarification
For tomorrow, November 26, 2020, the Parliamentary Exclusion of Investigations has summoned EY employees as witnesses who have examined the annual financial statements of WIRECARD AG. The Parliamentary Committee of Inquiry is hoping for answers to how the balance sheet fraud at WIRECARD AG was possible and why it has remained undetected for so long. WIRECARD insolvency administrator Jaffé has expressly released the auditors from their duty of confidentiality.
The EY examiners have nevertheless announced that they will largely refuse to give evidence. The auditors rely on Section 22 (2) of the Act on Parliamentary Committees of Inquiry (PUAG). According to this provision, the answer to questions can be refused if the witness otherwise threatens to be overdone with further investigations himself.
Attorney Dr. Marc Liebscher, Berlin: “The behavior of the EY examiners is scandalous. It can now happen that the interrogation is just as unproductive as the interrogation of WIRECARD board member Markus Braun. This tramples the powers of the parliamentary committee of inquiry. EY has On September 14th, in a customer letter distributed around the world, I promised to provide any help to clarify the situation and to cooperate with all the authorities.
Attorney Dr. Wolfgang Schirp, Berlin, who together with Dr. Liebscher has already filed a large number of claims for damages against EY since June 2020 and is preparing further lawsuits: “If you look at the tricks and tricks of EY, then we can be happy that we can at least force information from EY in the ongoing civil proceedings. We have filed lawsuits with very precise allegations. EY will have to defend itself against this just as precisely. There will be no more cover-ups and evasive maneuvers in civil proceedings. “
Dr. Marc Liebscher and Dr. Wolfgang Schirp: “One more thing becomes clear from the behavior of EY: The current attempts by the legislature to reform the law of auditors do not go far enough. The draft bill for a law to strengthen financial market integrity (FISG) is a reaction to the Wirecard Scandal thought. However, the FISG does not draw any lessons from the inadequate transparency: The draft fails to adapt the auditor’s obligation to maintain confidentiality, which is far too comprehensive, to modern, international standards. Germany is thus lagging behind the international competition and enables “another Wirecard” Applicable statutory regulations on the confidentiality obligation of auditors go too far and leave too much room for interpretation. The confidentiality obligation according to § 43 WPO, § 323 I 1 HGB and § 203 StGB, to which IDW PS 210 item 66 expressly refers, is even intended for information from Examiners apply to the public prosecutor’s office The auditor’s function, which is in the public interest of shareholders, is untenable. “
For more information, please contact:
Dr. Wolfgang Schirp, Schirp & Partner Rechtsanwälte mbB, Leipziger Platz 9, D – 10117 Berlin, Tel. 0049-30-3276170 and 0049-179-5320213, mail: [email protected], URL: www.schirp.com
Dr. Marc Liebscher, Dr. Späth & Partner Rechtsanwälte mbB, Kurfürstendamm 102, D – 10711 Berlin, Tel .: 0049-30-88701617 and 0049-176-93150194, mail: [email protected], URL: www.dr-spaeth.com
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11/25/2020 Publication of a Corporate News / Financial News, transmitted by DGAP – a service of EQS Group AG.
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