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DWS hires EY as Auditor While Suing them over Wirecard Scandal
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Subscribe04 FEB 2025 / ACCOUNTING & TAXES
DWS Group, Deutsche Bank's asset management arm, is appointing Ernst & Young (EY) as its group auditor while suing the firm over the Wirecard scandal. This controversial decision is believed to be due to EY's extensive experience, the firm's efforts to rebuild trust post-Wirecard, and lack of market options for DWS, yet it carries risks such as reputational damage, legal complications and potential investor unease.
Now here’s a plot twist—DWS Group, Deutsche Bank’s asset management arm, is putting EY in charge of its books while simultaneously suing them over the Wirecard scandal. You read that right. DWS wants EY as its group auditor while still pursuing legal acti...
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