Discussions about serious topics, for serious people
bmforre
Snowbonk
Posts: 504 Joined: Mon Nov 11, 2019 1:15 pmLocation: Trondheim
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by bmforre Sun Jun 21, 2020 9:36 am
Wirecard, a Payments Firm, Is Rocked by a Report of a Missing $2 Billion
The Frankfurter Allgemeine is full of this and WaPo has interesting detailed discussions:
https://www.washingtonpost.com/business ... story.html
One heading: "Wirecard and the Dangerous Allure of Lots of Cash".
Dangerous Allure indeed.
FlammableFlower
Dorkwood
Posts: 1574 Joined: Mon Nov 11, 2019 1:22 pm
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by FlammableFlower Sun Jun 21, 2020 10:50 am
What gets me is the number of companies who are audited by one of the big four accounting firms, only for them to actually be hiding some financial black hole.
lpm
Junior Mod
Posts: 6480 Joined: Mon Nov 11, 2019 1:05 pm
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by lpm Sun Jun 21, 2020 11:09 am
They are excellent at their job. The big four accounting firms extract large sums from the economy and channel it to their senior people.
Awarded gold star 4 November 2021
lpm
Junior Mod
Posts: 6480 Joined: Mon Nov 11, 2019 1:05 pm
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by lpm Sun Jun 21, 2020 11:10 am
The Wirecard thing is most interesting in that the FT flagged the problem - but people refused to believe it.
Awarded gold star 4 November 2021
malbui
Fuzzable
Posts: 315 Joined: Wed Nov 20, 2019 11:25 am
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by malbui Sun Jun 21, 2020 3:19 pm
I spent 18 years with a Big 4 firm in various countries. I still haven’t decided whether to write straight memoirs or sex it all up in a thriller.
And when it starts to slide
