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What went wrong at Wirecard?

We ask how German electronic payment firm Wirecard fell foul of a big accounting scandal.

We ask how German electronic payment firm Wirecard fell foul of a big accounting scandal. Sarah Syed is a technology reporter with Bloomberg in Berlin, and explains how Wirecard first became a player in the financial technology world. Sir Donald Brydon led a review into auditing practices for the UK, and considers the role auditing has played in this scandal. Dr Marc Liebscher of law firm Dr Spath and Partner is bringing a class action lawsuit on behalf of shareholders against the German branch of Ernst & Young, which has audited Wirecard's books for 11 years, and tells us about the case they plan to make. And Mike Navallo, justice reporter for ABS-CBN News in the Philippines discusses the billions of dollars which were supposedly held in accounts in the country, but may never have existed. Also in the programme, Google's sister company Loon has launched its first commercial service for balloons to carry internet data in Kenya. We hear about the thinking behind the scheme from Loni Prinsloo, technology reporter for Bloomberg in Johannesburg. And as President Trump pushes for US schools to re-open in August, Tawnell Hobbs, education reporter for The Wall Street Journal, explains how teachers and parents are reacting.

(Picture: A Wirecard building. Picture credit: EPA.)

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27 minutes

Last on

Wed 8 Jul 2020 21:32GMT

Broadcast

  • Wed 8 Jul 2020 21:32GMT