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Wirecard Says KPMG Could Not Review All Data for Audit

  • KPMG was unable to check 1 billion euros in transactions
  • 2019 accounts won’t be released April 30 due to virus: report
Business as Usual for Wirecard With Baristas at Singapore Event
Photographer: Nicky Loh/Bloomberg
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An independent audit into Wirecard AG concluded that it was unable to obtain the data needed to confirm past revenues, and criticized the payment processor for internal “shortcomings” and unwillingness by its third-party partners to contribute to the report.

As a result, KPMG couldn’t check on revenues of 1 billion euros ($1.1 billion) in transactions with third parties. Wirecard said the data needed to conclusively approve revenues from 2016 to 2018 is “primarily in the control of third parties,” but the company provided its own numbers to the auditor. Those didn’t reveal “any deviations between the reported revenues and account balances,” the German fintech said in a statement Tuesday.