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> They just took what Wirecard gave them to confirm what Wirecard told them for something as important as accounts that were supposed to hold almost all the cas
by james412 6y ago
> They just took what Wirecard gave them to confirm what Wirecard told them for something as important as accounts that were supposed to hold almost all the cash the company had
The same thing killed Barings Bank in the 90s, only on that occasion it was an internal audit
- topspin 6y agoMadoff was the same as well. SEC "investigators" accepted falsified documents and failed to verify transactions with third parties. Particularly with options trades.
- kgwgk 6y agoBut he didn’t exactly fool his auditor... https://www.sec.gov/news/press/2009/2009-60.htm https://www.sec.gov/news/press/2009/2009-60.htm
- icedchai 6y agoHe fooled them for many many years, over 16 years according to Wikipedia. If the financial crisis didn't happen, it would probably still be going on.