xFinance Minister Olaf Scholz, who has described the Wirecard scandal as “unparalleled” in Germany, is up before MPs, two days after Economy Minister Peter Altmaier appeared before the parliamentary committee. Lawmakers are investigating the political and regulatory failings that allowed the Wirecard cheating to go unnoticed for years, with critics saying early warning signs were ignored. Up before lawmakers on Wednesday, state secretary Joerg Kukies had insisted that Wirecard at no point benefited from special treatment from the ministry. As they grilled Economy Minister Altmaier on Tuesday, lawmakers questioned whether the ministry’s auditing watchdog APAS should have scrutinised EY’s work more closely. Though he denied responsibility for the scandal, Altmaier told the committee that compliance rules at APAS would be tightened.

Source: The Guardian April 22, 2021 12:00 UTC