The Audit Failures of the Wirecard Scandal: Examining the Role of the Auditor in Regulatory Oversight

Löw, Edgar, Heyd, Reinhard

The Audit Failures of the Wirecard Scandal: Examining the Role of the Auditor in Regulatory Oversight
  • 出版商: Palgrave MacMillan
  • 出版日期: 2024-07-16
  • 售價: $4,410
  • 貴賓價: 9.5 折 $4,190
  • 語言: 英文
  • 頁數: 173
  • 裝訂: Hardcover - also called cloth, retail trade, or trade
  • ISBN: 3031598539
  • ISBN-13: 9783031598531

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商品描述

Wirecard was the largest economic scandal in the history of Germany. Following the collapse of Wirecard, numerous lawsuits, both criminal and civil by equity and debt investors, were filed not only against Wirecard but also against the auditor Ernst & Young. This book demonstrates that a proper audit in accordance with the auditing standards would have uncovered the fraud much earlier, and details what went wrong. The book first deals with the fundamentals of auditing and examines the Wirecard business models from a legal and economic perspective. Then, the book deals with the fiduciary structure, which there has been often debated. When the fraud was uncovered, it became clear that 1.9 billion Euros that were supposed to be in escrow accounts were not. The book discusses the balance sheet mapping in detail, including the related audit requirements and examines in which balance sheet item the amounts (allegedly) in escrow accounts should have been reported, before examining and weighing the corresponding income statement items. In each chapter, not only are the accounting requirements presented, but the requirements for audit measures based on the respective Standards on Auditing are highlighted and explained in detail. The book places the requirements for reporting in the context of the Wirecard case, and will be of interest to accountants, auditors, market regulators, and credit risk analysts alongside students of accounting/auditing.

商品描述(中文翻譯)

Wirecard是德國歷史上最大的經濟醜聞。在Wirecard倒閉後，許多股權和債權投資者提起了刑事和民事訴訟，不僅對Wirecard提起訴訟，還對審計師安永公司提起訴訟。本書證明，按照審計標準進行適當的審計將會更早地揭露詐騙行為，並詳細介紹了出錯的原因。本書首先介紹了審計的基本原則，並從法律和經濟的角度檢視了Wirecard的商業模式。然後，本書討論了一直存在爭議的受託人結構。當詐騙行為被揭露時，人們發現原本應該存在於託管帳戶中的19億歐元並不存在。本書詳細討論了資產負債表的映射，包括相關的審計要求，並檢視了（據稱）應該在哪個資產負債表項目中報告託管帳戶中的金額，然後檢視並權衡相應的損益表項目。在每一章中，不僅介紹了會計要求，還突出並詳細解釋了基於相應審計標準的審計措施要求。本書將Wirecard案例中的報告要求置於背景中，對會計師、審計師、市場監管機構和信用風險分析師以及會計/審計學生具有重要意義。

作者簡介

Edgar Löw is a Professor of Accounting and the Program Director of the Master in Auditing at the Frankfurt School of Finance & Management. He teaches courses on banking and financial instruments accounting as well as national and international accounting standards. Löw also serves as a member of several professional bodies including the German Institute of Public Auditors, the European Financial Reporting Advisory Group, the European Banking Authority and Accountancy Europe. Before joining academia, Löw held several senior positions in the banking and audit industry, working for Deutsche Bank, Arthur Andersen, and KPMG in Frankfurt. Before joining Frankfurt School's Accounting Department, Löw was a partner at Ernst & Young in Eschborn/Frankfurt, serving as the Head the Professional Practice Department FSO and of Financial Accounting Advisory Services Banks Germany.

Reinhard Heyd is a Professor of Accounting and Auditing at Aalen University and provides lectures in financial accounting and auditing. In addition, he is an honorary professor at the University of Ulm and the author of numerous books and papers about accounting, auditing, and corporate governance.

作者簡介(中文翻譯)

Edgar Löw是法蘭克福金融與管理學院會計學教授和碩士審計課程主任。他教授銀行和金融工具會計以及國際和國家會計準則的課程。Löw還擔任多個專業機構的成員，包括德國公共審計師協會、歐洲財務報告諮詢小組、歐洲銀行管理局和Accountancy Europe。在加入學術界之前，Löw在德意志銀行、安達信和毕马威等擔任過多個高級職位，並在法蘭克福工作。在加入法蘭克福學院會計系之前，Löw曾是恩斯特與楊的合夥人，擔任專業實踐部門FSO和金融會計諮詢服務銀行德國的負責人。

Reinhard Heyd是阿倫大學會計與審計學教授，並提供財務會計和審計的講座。此外，他還是烏爾姆大學的名譽教授，並撰寫了許多關於會計、審計和公司治理的書籍和論文。

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