The Audit Failures of the Wirecard Scandal (Record no. 61645)
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| fixed length control field | 04998nam a22005055i 4500 |
| 001 - CONTROL NUMBER | |
| control field | 978-3-031-59854-8 |
| 003 - CONTROL NUMBER IDENTIFIER | |
| control field | DE-He213 |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20251030112631.0 |
| 007 - PHYSICAL DESCRIPTION FIXED FIELD--GENERAL INFORMATION | |
| fixed length control field | cr nn 008mamaa |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION | |
| fixed length control field | 240716s2024 sz | s |||| 0|eng d |
| 020 ## - INTERNATIONAL STANDARD BOOK NUMBER | |
| International Standard Book Number | 9783031598548 |
| -- | 978-3-031-59854-8 |
| 024 7# - OTHER STANDARD IDENTIFIER | |
| Standard number or code | 10.1007/978-3-031-59854-8 |
| Source of number or code | doi |
| 050 #4 - LIBRARY OF CONGRESS CALL NUMBER | |
| Classification number | HF5667-5668.252 |
| 072 #7 - SUBJECT CATEGORY CODE | |
| Subject category code | KFCM |
| Source | bicssc |
| 072 #7 - SUBJECT CATEGORY CODE | |
| Subject category code | BUS003000 |
| Source | bisacsh |
| 072 #7 - SUBJECT CATEGORY CODE | |
| Subject category code | KFCM |
| Source | thema |
| 100 1# - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Löw, Edgar. |
| Relator term | author. |
| Relator code | aut |
| -- | http://id.loc.gov/vocabulary/relators/aut |
| 9 (RLIN) | 80666 |
| 245 14 - TITLE STATEMENT | |
| Title | The Audit Failures of the Wirecard Scandal |
| Medium | [electronic resource] : |
| Remainder of title | Examining the Role of the Auditor in Regulatory Oversight / |
| Statement of responsibility, etc. | by Edgar Löw, Reinhard Heyd. |
| 250 ## - EDITION STATEMENT | |
| Edition statement | 1st ed. 2024. |
| 264 #1 - PRODUCTION, PUBLICATION, DISTRIBUTION, MANUFACTURE, AND COPYRIGHT NOTICE | |
| Place of production, publication, distribution, manufacture | Cham : |
| Name of producer, publisher, distributor, manufacturer | Springer Nature Switzerland : |
| -- | Imprint: Palgrave Macmillan, |
| Date of production, publication, distribution, manufacture, or copyright notice | 2024. |
| 300 ## - PHYSICAL DESCRIPTION | |
| Extent | XVI, 173 p. 13 illus., 12 illus. in color. |
| Other physical details | online resource. |
| 336 ## - CONTENT TYPE | |
| Content type term | text |
| Content type code | txt |
| Source | rdacontent |
| 337 ## - MEDIA TYPE | |
| Media type term | computer |
| Media type code | c |
| Source | rdamedia |
| 338 ## - CARRIER TYPE | |
| Carrier type term | online resource |
| Carrier type code | cr |
| Source | rdacarrier |
| 347 ## - DIGITAL FILE CHARACTERISTICS | |
| File type | text file |
| Encoding format | |
| Source | rda |
| 505 0# - FORMATTED CONTENTS NOTE | |
| Formatted contents note | 1. Wirecard – Chronicle, Public allegations, and the Downfall of the company -- 2. Fundamental Principles of an Audit -- 3. Wirecard´s business model -- 4. Fiduciary relationships -- 5. Trade Receivables versus Cash and Cash equivalents -- 6. Sales revenue and Commissions -- 7. Segment Reporting -- 8. Risk Reporting in the Notes of the Consolidated Financial Statements and Group Management Reports -- 9. Audit Opinion and Auditor's Report -- 10. Concluding remarks. |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | Wirecard was the largest economic scandal in the history of Germany. Following the collapse of Wirecard, numerous lawsuits, both criminal and civil by equity and debt investors, were filed not only against Wirecard but also against the auditor Ernst & Young. This book demonstrates that a proper audit in accordance with the auditing standards would have uncovered the fraud much earlier, and details what went wrong. The book first deals with the fundamentals of auditing and examines the Wirecard business models from a legal and economic perspective. Then, the book deals with the fiduciary structure, which there has been often debated. When the fraud was uncovered, it became clear that 1.9 billion Euros that were supposed to be in escrow accounts were not. The book discusses the balance sheet mapping in detail, including the related audit requirements and examines in which balance sheet item the amounts (allegedly) in escrow accounts should have been reported, before examining and weighing the corresponding income statement items. In each chapter, not only are the accounting requirements presented, but the requirements for audit measures based on the respective Standards on Auditing are highlighted and explained in detail. The book places the requirements for reporting in the context of the Wirecard case, and will be of interest to accountants, auditors, market regulators, and credit risk analysts alongside students of accounting/auditing. Edgar Löw is a Professor of Accounting and the Program Director of the Master in Auditing at the Frankfurt School of Finance & Management. He teaches courses on banking and financial instruments accounting as well as national and international accounting standards. Löw also serves as a member of several professional bodies including the German Institute of Public Auditors, the European Financial Reporting Advisory Group, the European Banking Authority and Accountancy Europe. Before joining academia, Löw held several senior positions in the banking and audit industry, working for Deutsche Bank, Arthur Andersen, and KPMG in Frankfurt. Before joining Frankfurt School’s Accounting Department, Löw was a partner at Ernst & Young in Eschborn/Frankfurt, serving as the Head the Professional Practice Department FSO and of Financial Accounting Advisory Services Banks Germany. Reinhard Heyd is a Professor of Accounting and Auditing at Aalen University and provides lectures in financial accounting and auditing. In addition, he is an honorary professor at the University of Ulm and the author of numerous books and papers about accounting, auditing, and corporate governance. |
| 650 #0 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | |
| 9 (RLIN) | 60872 |
| 650 #0 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | |
| 9 (RLIN) | 57622 |
| 650 14 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | |
| 9 (RLIN) | 60872 |
| 650 24 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | |
| 9 (RLIN) | 57570 |
| 700 1# - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Heyd, Reinhard. |
| Relator term | author. |
| Relator code | aut |
| -- | http://id.loc.gov/vocabulary/relators/aut |
| 9 (RLIN) | 80667 |
| 710 2# - ADDED ENTRY--CORPORATE NAME | |
| Corporate name or jurisdiction name as entry element | SpringerLink (Online service) |
| 773 0# - HOST ITEM ENTRY | |
| Title | Springer Nature eBook |
| 776 08 - ADDITIONAL PHYSICAL FORM ENTRY | |
| Relationship information | Printed edition: |
| International Standard Book Number | 9783031598531 |
| 776 08 - ADDITIONAL PHYSICAL FORM ENTRY | |
| Relationship information | Printed edition: |
| International Standard Book Number | 9783031598555 |
| 776 08 - ADDITIONAL PHYSICAL FORM ENTRY | |
| Relationship information | Printed edition: |
| International Standard Book Number | 9783031598562 |
| 856 40 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://doi.org/10.1007/978-3-031-59854-8">https://doi.org/10.1007/978-3-031-59854-8</a> |
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| -- | ZDB-2-ECF |
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| -- | ZDB-2-SXEF |
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