Wirecard scandal: EY defends itself in the Bundestag

London, United Kingdom - February 03, 2019: Blue and yellow EY signage at top of their offices in Canary Wharf. Ernst & Young is UK professional services company, one of big 4 accounting firms

@peter_IFAMAG reads Twitter so you don’t have to.

The Wirecard Investigation Team meets again at the Bundestag today. Prompted by investor action following the Wirecard scandal EY could be sued for ‘immoral damage’ in accordance with German law. EY audited Wirecard. Today EY will outline what is expected to be a blueprint defence for further litigation by Wirecard investors. Elsewhere, Reuters interview tiktok bitcoin speculating astrologist.

First from Twitter; access to careers in economics comes under question. Paul Johnson highlights the role A-Level economics has in the pursuit of a career in the field. Privately educated boys are seven times more likely to take economics at A-level than state educated girls.

The full report from the Institute of Fiscal Studies can be found here.

Spain draws more than €130bn in record sale of 10 year bonds. Michael Pettis suggests the entire EU financial system has become dependent on on the credibility of the ECB. He ask should we ‘be concerned of a credibility laffer curve?’

China records record surpluses.

Frank Rotman gives a long and creative analogy to try and explain the growth in IPO’s in the US stock market. Worth a read.

Elsewhere Reuters interview a TikTok Bitcoin speculating astrologer.

And Finally, EY will defend itself in the Bundestag today. Check out the outlined defence translated from German below.

What are your thoughts on these tweets?

Tweet your responses to @peter_IFAMAG


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