Wirecard Said Audit Revealed No Account Manipulation

Monday, May 4th, 2020

German payment-company Wirecard turned to KPMG some time ago to get an independent audit after the Financial Times had published several reports about the company. The latter was alleged to be involved in dishonest account methods. If you need to learn more about this case and find reliable and affordable merchant-processing services in the UK, just go on reading this post.

Wirecard in Account Manipulation Scandal

In March, the payment company said KPMG had uncovered no issues concerning account management. The questionable case refers to the company’s operations in India, Singapore, with its partners, as well as with its merchant-cash advance and digital lending.

The payment company hired the auditing firm in 2019, after several publications about altered accounts appeared in The Financial Times. Thought the company was surrounded by that scandal, it did its best to stay afloat.

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More Details to Know

On March 11, 2020, the company announced its cooperation with Sweden’s FinTech startup Klarna in terms of integrated payments. Thanks to this cooperation, consumers can enjoy repayment methods such as Pay Now, Pay Later, and Klarna Financing.

A month ago, the payment company reported that it’d take KPMG more time to investigate the case. So, April 22 deadline wasn’t the final date for the results.

To sum up, Wirecard hired KPMG for an independent audit concerning questionable accounting management. The 1^st stage of the investigation didn’t reveal any substantial findings. To avoid issues with payment companies, it’s important to work with a true payment expert for reliable comparison of merchant services.