DGAP-Adhoc: Wirecard AG: KPMG delivers report on special investigation
DGAP-Ad-hoc: Wirecard AG / Key word(s): Miscellaneous
Wirecard AG: KPMG delivers report on special investigation
28-Apr-2020 / 07:52 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Wirecard AG in the early hours of today, April 28 2020, received the special audit report by the auditing company KPMG. The report will be published as soon as possible under https://www.wirecard.com/transparency.
Incriminating evidence for the public allegations of balance sheet forgery has not been identified. With respect to all four areas of the audit - Third Party Acquiring business (TPA), Merchant Cash Advance (MCA)/Digital Lending as well as the business activities in India and Singapore - no significant findings have been made, which would require an adjustment of the annual accounts 2016-2018.
In the course of the audits of the annual accounts for the years 2016-2018 the available documents and audit measures were sufficient for the proof of the revenues in the Third Party Acquiring business. According to the increased forensic requirements of the audit by KPMG, however, not all data could be obtained that would have been required to proof the revenues in these years, because the required data are primarily in the control of third parties. Since Wirecard meanwhile controls the necessary data itself, more than 200 mio data relating to December 2019 sets have been provided to KPMG for a forensic audit. This audit has not revealed any deviations between the reported revenues and account balances.
KPMG has identified documentation and organizational weaknesses during the audit period, which had already been identified by Wirecard. Wirecard remedies these weaknesses since 2019 by establishing a Global Compliance Organization and with the support of external consultants.
The release of the annual accounts and the annual press conference will not take place on 30 April 2020. Wirecard will coordinate as soon as possible with the auditor E&Y, when the audit measures can be completed taking into account the Corona related restrictions and the completion of the KPMG report.
Contact:
Iris Stöckl
VP Corp.Com./IR
Tel.: +49 (0)89-4424-1424
e-Mail: iris.stoeckl@wirecard.com
http://www.wirecard.com
ISIN DE0007472060
Reuters: WDI.GDE
Bloomberg: WDI GY
Incriminating evidence for the public allegations of balance sheet forgery has not been identified. With respect to all four areas of the audit - Third Party Acquiring business (TPA), Merchant Cash Advance (MCA)/Digital Lending as well as the business activities in India and Singapore - no significant findings have been made, which would require an adjustment of the annual accounts 2016-2018.
In the course of the audits of the annual accounts for the years 2016-2018 the available documents and audit measures were sufficient for the proof of the revenues in the Third Party Acquiring business. According to the increased forensic requirements of the audit by KPMG, however, not all data could be obtained that would have been required to proof the revenues in these years, because the required data are primarily in the control of third parties. Since Wirecard meanwhile controls the necessary data itself, more than 200 mio data relating to December 2019 sets have been provided to KPMG for a forensic audit. This audit has not revealed any deviations between the reported revenues and account balances.
KPMG has identified documentation and organizational weaknesses during the audit period, which had already been identified by Wirecard. Wirecard remedies these weaknesses since 2019 by establishing a Global Compliance Organization and with the support of external consultants.
The release of the annual accounts and the annual press conference will not take place on 30 April 2020. Wirecard will coordinate as soon as possible with the auditor E&Y, when the audit measures can be completed taking into account the Corona related restrictions and the completion of the KPMG report.
Contact:
Iris Stöckl
VP Corp.Com./IR
Tel.: +49 (0)89-4424-1424
e-Mail: iris.stoeckl@wirecard.com
http://www.wirecard.com
ISIN DE0007472060
Reuters: WDI.GDE
Bloomberg: WDI GY
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