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Financial Times — World — Auditor Shortage — Accounting Scandals — Auditing — Corporate Governance

EY, KPMG and the fallout of two accounting scandals

Adler Group struggles to find a replacement auditor after KPMG refused to sign off on its 2021 results. Auditors have become more selective since the Wirecard scandal.

1 min read
  • Auditors have become more cautious and selective since the Wirecard scandal.
  • Companies with weak governance and management risk being left out in the cold.
  • Adler Group is struggling to find a replacement auditor after KPMG refused to sign off on its 2021 results.
  • The Adler case highlights a regulatory gap for companies that cannot secure an auditor.
  • The balance of power between auditors and their clients is changing fundamentally.
EY, KPMG and the fallout of two accounting scandals
What happens to companies that cannot secure an auditor to check their accounts?
Financial TimesOlaf Storbeck

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