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April 28, 2020 7:52 am – Author: Michael Barck 
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Last night, everyone on the stock exchange who was interested in Wirecard wondered: why isn’t the company presenting the results of KPMG’s audit of the balance-sheet tampering allegations? They have been accompanying the DAX Group since January 2019. Right now, Wirecard has finally released the report that everyone was waiting for and at the same time reported that the balance release date for 2019 will be postponed again.
“Today, on April 28, 2020, Wirecard AG received the report on the special investigation from the audit firm KPMG. It will be published as soon as possible https://www.wirecard.com/de/transparenz published ”, announces the DAX group. And furthermore: “No incriminating evidence was found for the publicly raised charges of balance sheet manipulation. In all four audit areas, the Third Party Business Partner (TPA) and Business Cash Advance (MCA) / Digital Loan areas, as well as the business activities in India and Singapore, no substantial findings were made necessary for the financial statements in the investigation period of 2016, 2017 and 2018 would have led to a need for correction. “
Here is the full text of Wirecard’s ad hoc announcement about the KPMG audit:
DGAP-Ad-hoc: Wirecard AG / Keyword (s): Other
Wirecard AG: KPMG presents report on special investigation
04/28/2020 / 07:52 CET / CEST
Publication of inside information in accordance with Article 17 of Regulation (EU) n. ° 596/2014, transmitted by DGAP, a service of EQS Group AG.
The issuer / publisher is responsible for the content of this advertisement.
Wirecard AG received the report on the special investigation from the audit firm KPMG in the early morning of April 28, 2020. It will be published as soon as possible at https://www.wirecard.com/de/transparenz.
No incriminating evidence was found for the publicly filed allegations of balance sheet manipulation. In all four audit areas, the Third Party Business Partner (TPA) and Business Cash Advance (MCA) / Digital Loan areas, as well as the business activities in India and Singapore, no substantial findings were made necessary for the financial statements in the investigation period of 2016, 2017 and 2018 would have led to a need for correction.
As part of the annual audits carried out from 2016 to 2018, the available evidence and audit procedures were sufficient to demonstrate sales in external partner businesses (TPA). However, in accordance with KPMG’s increased forensic investigation requirements, it was not possible to obtain all the requested data that would have shown proof of sales revenue in these years, as these documents are predominantly in the access area for external partners. Since Wirecard now contains the necessary data, KPMG was able to provide over 200 million data records for a December 2019 forensic examination. There was no indication of discrepancies between reported sales and account balances.
KPMG identified weaknesses in documentation and organization during the IP that Wirecard had already identified. These have been resolved since 2019 through the establishment of the World Compliance Organization and with the support of external consultants.
The publication of the annual financial statements and the annual press conference will not take place on April 30, 2020. Wirecard will coordinate with the E&Y auditor as soon as possible when the audit work can be completed taking into account restrictions related to the crown and the KPMG report.
Wirecard’s full report on test results in original: Click here.
Read more about Wirecard participation during the day 4inverters.
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Wirecard: it’s hard to believe …
As a Wirecard shareholder, you cannot always be envied when it comes to Group communication with the stock exchange. Yesterday was another day: The Aschheim-based company announced the completion of the KPMG examination of balance-sheet manipulation allegations on April 27, 2020, 5 days after the date it had already been postponed to April 22, 2020. And what news came yesterday from the company? Exactly: nothing, now one could argue: “If they had found something, they should have reported it immediately.” Right However, the least you would have expected yesterday from Wirecard would have been at least the phrase that the job has already been completed and the results will be presented on “Day X”. Perhaps with a rough indication of what is happening: the absolutely nothing reported so far by Wirecard regarding the KPMG audit is poor communication performance by the DAX group. You can hardly believe it. We don’t know what the company is … read this news from April 28, 2020!
At a glance: chart and news: Wirecard
