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Wirecard affair: Chief Financial Officer of Deutsche Bank leaves office

2020-12-09T14:30:14.585Z

At Ernst & Young he was responsible for checking Wirecard, now supervisors are clearing up his involvement. Until then, Andreas Lötscher has to leave his position as chief financial officer of Deutsche Bank on hold.



Deutsche Bank headquarters in Frankfurt am Main: withdrawal at your own request

Photo: Boris Roessler / dpa

The head of accounting at Deutsche Bank, Andreas Loetscher, draws conclusions from the Wirecard scandal and is temporarily stepping down from office.

The head of the tax department, Brigitte Bomm, explained his duties for a temporary period, explained CFO James von Moltke in an email to the employees, which the Reuters news agency received on Wednesday and which the "FT" had first reported on.

Before joining Deutsche Bank, Loetscher worked for the auditing company Ernst & Young (EY) and was jointly responsible for auditing the balance sheet at Wirecard.

The payment provider had to file for bankruptcy in June after a gap of 1.9 billion euros was opened in the balance sheet.

The auditor supervisory authority APAS accuses EY of serious errors in the audit and expressed the suspicion that EY employees violated their professional obligations.

The temporary withdrawal happened at Loetscher's own request and should not be seen as confirmation of misconduct, wrote von Moltke.

The aim is that he get enough time to "concentrate appropriately on the matter". 

Icon: The mirror

mik / Reuters

Source: spiegel

All business articles on 2020-12-09

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