Commerzbank to drop EY as auditor from 2022 in wake of Wirecard scandal

FRANKFURT – Commerzbank (CBKG.DE) said on Wednesday it would drop EY as its auditor from 2022 in the wake of the Wirecard accounting scandal.

EY had signed off for years on the accounts of Wirecard (WDIG.DE), the German payments that collapsed in June after a 1.9 billion euro ($2.25 billion) hole was discovered in its books.

The decision was taken at a meeting of the bank’s supervisory board on Wednesday and follows similar moves by other companies.