The Wirecard fraud has cost EY a new customer! Deutsche Bank’s asset-management division, DWS, that went public in 2018 has decided to no longer use EY as its auditor. The reason being that DWS is concerned about getting involved in the potential lawsuits against the accounting firm or Wirecard.
The German fund manager will instead continue to use KPMG as its auditor. One accountant’s loss is another’s gain! DR-CR!!!