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The Big Four Accounting firms under scrutiny DW Documentary
>> YOUR LINK HERE: ___ http://youtube.com/watch?v=C_0XEIFGK5o
The Wirecard scandal brought the role of big auditing firms into focus. Their work is supposed to create trust in companies. But are appearances deceptive? • EY, PwC, KPMG and Deloitte: these Big Four auditing firms are hardly household names. Yet they play a key role in the global economy. • They have also all been at the center of a number of major financial scandals. For ten years, auditors at EY (Ernst Young) certified Wirecard's annual financial statements. They failed to uncover that a network of fraudsters were using accounting tricks to write billions into Wirecard's books over several years. • Hundreds of Wirecard employees lost their jobs, and thousands of investors lost a total of €4.5 billion. Why didn't the auditors recognize the fraud? Were they negligent, overextended? • The Big Four dominate the global audit industry, and their vast knowledge of company- and tax-law making them indispensable. Because growth opportunities in auditing have largely been exhausted, the Big Four offer a raft of consulting services, not only to the companies they audit but also to governments. Have the Big Four become too powerful -- even out of control? • This documentary explores the role auditors played in the Wirecard scandal, investigates potential conflict of interest within the Big Four, and sheds light on the companies’ role within a complex web of political and economic dependencies. • #documentary #dwdocumentary • ______ • DW Documentary gives you knowledge beyond the headlines. Watch top documentaries from German broadcasters and international production companies. Meet intriguing people, travel to distant lands, get a look behind the complexities of daily life and build a deeper understanding of current affairs and global events. Subscribe and explore the world around you with DW Documentary. • Subscribe to: • ⮞ DW Documentary (English): / dwdocumentary • ⮞ DW Documental (Spanish): / dwdocumental • ⮞ DW Documentary وثائقية دي دبليو (Arabic): / dwdocarabia • ⮞ DW Doku (German): / dwdoku • ⮞ DW Documentary हिन्दी (Hindi): / dwdochindi • For more visit: http://www.dw.com/en/tv/docfilm/s-3610 • Follow DW Documentary on Instagram: / dwdocumentary • Follow DW Documental on Facebook: / dwdocumental • We kindly ask viewers to read and stick to the DW netiquette policy on our channel: https://p.dw.com/p/MF1G
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