Samenvatting

What can be done to strengthen the controlling position of APAS in the German Audit industry?
1. How can APAS be compared to the US Public Company Accounting Oversight Board (PCAOB)
2. What are the conclusions that can be drawn from the comparison?
3. What is the Wirecard scandal and how did it unfold?
4. Given the Wirecard scandal and their given possibilities, what are the implications for the German oversight authorities?

The Wirecard Scandal has once again brought the Audit companies, the auditors and the audit oversight institutions into a spotlight for their professional code of conducts. This report therefore has the goal to examine what control bodies there are for auditors and how they work. In addition, it examines the case of the Wirecard scandal and whether there are any possibilities for auditing supervision to prevent a scandal like Wirecard in the future. The following professional report has been delivered in month June of 2023: Analysis of the Wirecard scandal and drawn conclusions for a stronger Audit oversight.
This research report could be used by personnel of Audit oversight authorities, affiliated institutions as well as individuals involved in the Audit industry to better understand the German Audit oversight and its potential room for improvement and integrity strengthening. The topic of this report is current and relevant because the auditor supervisory authorities and the media public are still working through the Wirecard scandal. The professional product which will be Management Advise is also serving as proof of the author’s competence in the IB program learning outcome of Organisation & People with a focus on Finance & Accounting.