Latest Accounting and auditing services News

FILE - In this Thursday, April 25, 2019 file photo, Markus Braun, CEO of financial services company wirecard, attends the earnings press conference in Munich, Germany. Prosecutors in Germany say that the former CEO of the payments company Wirecard has been arrested in an accounting scandal that centers on a missing sum of 1.9 billion euros, or 2.1 billion dollars. Markus Braun resigned on Friday after the company disclosed that auditors couldn't find accounts containing the money.(AP Photo/Matthias Schrader, file)

Wirecard goes bust as scandal puts focus on German oversight

Jun. 25, 2020 8:41 AM EDT

FRANKFURT, Germany (AP) — An accounting scandal at one of Germany’s fastest-growing blue-chip companies has raised doubts about the national financial watchdog and, coming on top of other high-profile cases of fraud, led to questions about the country’s ability to oversee its corporate...

FILE - In this Thursday, April 25, 2019 file photo, Markus Braun, CEO of financial services company wirecard, attends the earnings press conference in Munich, Germany. Prosecutors in Germany say that the former CEO of the payments company Wirecard has been arrested in an accounting scandal that centers on a missing sum of 1.9 billion euros, or 2.1 billion dollars. Markus Braun resigned on Friday after the company disclosed that auditors couldn't find accounts containing the money.(AP Photo/Matthias Schrader, file)

Wirecard scandal puts spotlight on German company regulation

Jun. 24, 2020 4:34 PM EDT

FRANKFURT, Germany (AP) — An accounting scandal at one of Germany’s fastest-growing blue-chip companies has raised doubts about the national financial watchdog and, coming on top of other high-profile cases of fraud, led to questions about the country’s ability to oversee its corporate...

FILE - In this Thursday, April 25, 2019 file photo, Markus Braun, CEO of financial services company wirecard, attends the earnings press conference in Munich, Germany. Prosecutors in Germany say that the former CEO of the payments company Wirecard has been arrested in an accounting scandal that centers on a missing sum of 1.9 billion euros, or 2.1 billion dollars. Markus Braun resigned on Friday after the company disclosed that auditors couldn't find accounts containing the money. (AP Photo/Matthias Schrader, file)

Ex-CEO of Wirecard arrested in scandal over missing billions

Jun. 23, 2020 11:10 AM EDT

BERLIN (AP) — The former CEO of German financial technology company Wirecard has been arrested on suspicion of misrepresenting the firm's finances in an accounting scandal that centers on a missing 1.9 billion euros ($2.1 billion), prosecutors in Munich said Tuesday. Markus Braun resigned on Friday after...

A stockbroker sits in front of a screen with news about the payment service provider Wirecard at the Frankfurt Stock Exchange in Frankfurt, Germany, Monday, June 22, 2020. Germany payment service provider Wirecard AG says it has concluded that two accounts that were supposed to contain 1.9 billion euros (2.1 billion dollars) probably don’t exist. (Arne Dedert/dpa via AP)

Wirecard scandal: Missing billions likely don't exist

Jun. 22, 2020 11:29 AM EDT

BERLIN (AP) — German payment service provider Wirecard said Monday it has concluded that 1.9 billion euros ($2.1 billion) which were supposed to be held in two accounts probably don't exist, deepening troubles that last week prompted the resignation of its chief executive. Wirecard AG was once regarded as...

FILE - In this  Thursday, April 25, 2019 file photo the logo of financial services company wirecard is pictured at the headquarters in Munich, Germany. Shares in German payment service provider Wirecard AG plunged Thursday as the company announced it was postponing its delayed annual report yet again. (AP Photo/Matthias Schrader, file)

Wirecard CEO quits after auditors can't find $2.1 billion

Jun. 19, 2020 12:16 PM EDT

FRANKFURT, Germany (AP) — The chief executive of German payment service provider Wirecard AG resigned on Friday after the company disclosed that auditors could not find 1.9 billion euros ($2.1 billion) in cash, adding to the accounting woes of a firm once regarded as a star of the growing financial...

FILE - In this Feb. 26, 2015, file photo, students walk on the University of California, Los Angeles campus. A UCLA professor who was suspended following an email exchange with a student who wanted a final exam altered or canceled because of racial unrest, says his refusal to do so has nothing to do with racism. (AP Photo/Damian Dovarganes, File)

UCLA professor: No racism in refusing to cancel final

Jun. 10, 2020 9:26 PM EDT

LOS ANGELES (AP) — A University of California, Los Angeles, professor suspended over an email exchange with a student who wanted a final exam canceled or changed because of racial unrest said he’s receiving threats and wants his "reputation restored" after what he calls unfounded allegations of...

A man walks past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, May 29, 2020. Shares fell Friday in Asia after Wall Street’s rally petered out amid worries about flaring U.S.-China tensions. (AP Photo/Eugene Hoshiko)

Stocks erase a loss as worries over China tensions fizzle

May. 29, 2020 5:13 PM EDT

Stocks closed out a solid week on Wall Street Friday with a late-afternoon rebound after worries that President Donald Trump would reignite a costly trade war with China faded. The benchmark S&P 500 index rose 0.5%, recovering from a 1% slide, after Trump outlined several actions in response to a move by...

FILE - In this May 7, 2020, file photo, President Donald Trump speaks during a meeting about the coronavirus response in the Oval Office of the White House in Washington. The Supreme Court is taking up Trump’s bid to keep his tax, bank and financial records private, a major clash over accountability that could affect the 2020 presidential campaign. (AP Photo/Evan Vucci, File)

Supreme Court appears likely to reject Trump immunity claim

May. 12, 2020 3:56 PM EDT

WASHINGTON (AP) — The Supreme Court on Tuesday appeared likely to reject President Donald Trump's claim that he is immune from criminal investigation while in office. But the court seemed less clear about exactly how to handle subpoenas from Congress and the Manhattan district attorney for Trump's tax,...

FILE - In this May 7, 2020, file photo President Donald Trump listens during a meeting about the coronavirus response in the Oval Office of the White House in Washington. Trump is hoping to persuade a Supreme Court with two of his appointees to keep his tax and other financial records from being turned over to lawmakers and a New York district attorney. The justices are hearing arguments by telephone Tuesday, May 12. (AP Photo/Evan Vucci, File)

Trump asking justices to bar demands for taxes, bank records

May. 10, 2020 10:03 AM EDT

WASHINGTON (AP) — President Donald Trump is hoping to persuade a Supreme Court with two of his appointees to keep his tax and other financial records from being turned over to lawmakers and a New York district attorney. The justices are hearing arguments by telephone Tuesday in a pivotal legal fight that...