BREAKING NEWS
This content is not available in your region

Wirecard says 2017 audit of Singapore unit not concluded due to probe

Wirecard says 2017 audit of Singapore unit not concluded due to probe
FILE PHOTO: The headquarters of Wirecard AG is seen in Aschheim near Munich, Germany April 25, 2019. REUTERS/Michael Dalder   -   Copyright  Michael Dalder(Reuters)
Text size Aa Aa

FRANKFURT (Reuters) – German payments company Wirecard <WDIG.DE> said restrictions imposed by authorities in Singapore resulted in the local auditor being unable to conclude its 2017 audit, sending the group’s shares 8.5% lower in pre-market trading.

“These restrictions were not relevant for the audit of the Consolidated Financial Statements in accordance with IFRS,” Wirecard said in a statement on Wednesday, adding that its 2017 and 2018 financial reports remained unaffected. 

On Tuesday evening, German business daily Handelsblatt reported that auditor EY refused to sign off on the Singapore audit of Wirecard for 2017, citing irregularities.

Earlier this month, Wirecard said it had widened the scope of a KPMG audit to draw a line under allegations that it manipulated its accounts.

(Reporting by Arno Schuetze; Editing by Michelle Martin)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.