Law firm applying for a special audit of Wirecard

SCHIRP SAID it is applying for a special audit of Wirecard amid fraud allegations.

FRANKFURT — Law firm Schirp said on Monday it was applying for a special audit of German payments company Wirecard, which is facing allegations of fraud and false accounting, on behalf of its shareholders.

Wirecard was hit a year ago by allegations in the Financial Times that its Singapore office made fake book-keeping entries to “pad” its revenues. In-house auditor EY investigated those claims and gave Wirecard management a clean bill of health. The company denied the allegations and sued the FT, which stands by its reporting.

Thomas Eichelmann, the board member overseeing an outside audit of Wirecard, has been elected as chairman after Wulf Matthias, 75, resigned for personal reasons, Wirecard said in statement on Friday. — Reuters