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Company News

Commerzbank to drop EY as auditor from 2022 in wake of Wirecard scandal

FILE PHOTO: A woman searches in a dustbin in front of a branch of Germany's Commerzbank in Frankfurt May 10, 2013. REUTERS/Lisi Niesner (GERMANY - Tags: BUSINESS)/File Photo

FRANKFURT (Reuters) - Commerzbank CBKG.DE said on Wednesday it would drop EY as its auditor from 2022 in the wake of the Wirecard accounting scandal.

EY had signed off for years on the accounts of Wirecard WDIG.DE, the German payments that collapsed in June after a 1.9 billion euro ($2.25 billion) hole was discovered in its books.

The decision was taken at a meeting of the bank’s supervisory board on Wednesday and follows similar moves by other companies.

Reporting by Tom Sims; editing by David Evans

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