To Wirecard Altmaier: We would have expected such a Situation anywhere – only not in Germany

The accounting scandal with the payment service provider Wirecard Federal Minister Peter Altmaier (CDU) has called for a rapid clarification. "Wirecard is not

To Wirecard Altmaier: We would have expected such a Situation anywhere – only not in Germany

The accounting scandal with the payment service provider Wirecard Federal Minister Peter Altmaier (CDU) has called for a rapid clarification. "Wirecard is not obliged to investigate any abuses of the remedy," said Altmaier, the news portal T-Online. "It must be determined, how it could happen, that seems to be billions in the air dissolved, or perhaps never were."

in Addition, it must be found out, whether the existing statutory provisions have been complied with – "or if someone legally has to be held accountable," said Altmaier more. The process was "anything but trivial".

The Minister warned of a loss of image for Germany as a business location. "It is very important to me, that such is the case, with a view to the trust in the banking centre of Germany so quickly will not be repeated," said Altmaier said. "We would have expected such a Situation anywhere – only not in Germany. Therefore, we have to, where necessary, attack.“

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as well As by the recent events in the meat industry, incidents of this type be a Problem for the Reputation of the Federal Republic of Germany as a business location. "We must not allow individual companies to destroy the Reputation of a whole industry and thus the country harm."

The Dax-listed company Wirecard had not communicated on Monday that the disappearance of 1.9 billion Euro to exist in its balance sheet at all. The backgrounds were initially unclear. The company is advised by the operations in severe turbulence.

WIRECARD -- -- (--) Xetra tradegate long & black London SE Int. Level 1StuttgartFrankfurtSchweiz OTCWienSchweiz 1T 1W 3M 1J 3J 5J For detail view

as a result of the balance sheet scandal, meanwhile, are loud Calls for tougher rules for corporate governance. "The case of Wirecard makes it clear that the German stock exchange, urgently needs to initiate a reform debate," said the Chairman of the Board of the Association of Supervisory Board members in Germany (VARD), Peter Stretch, and he added: "in Germany, We need a strong capital market, and therefore we hope that the German stock exchange is pushing with its new strong leadership in the style of the Nasdaq, the discussion about Standards of good corporate governance forward – together with the Supervisory boards and boards of Directors."

in 2012 based Association has more than 130 members and is referred to as an independent professional Association for members of the Supervisory Board. By the accounting scandal at Wirecard is the market value of the Dax fell through that group in the basement of Gera. The current rules for good corporate governance are a Stretch, according to inadequate. "The observance of the German Corporate Governance code (GCGC) prevents neither scandals, nor did he have a positive impact on the management of the company."

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work should be further developed. The "code stands for formalism, and a check mark to make, but has no effect on the company's culture and the Stakeholder Value." Formal criteria would have to be filled with life.

Updated Date: 23 June 2020, 06:19

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