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| Name | The Big Four - Accounting firms under scrutiny | DW Documentary |
| Video Uploader | Video From DW Documentary |
| Upload Date | This Video Uploaded At 28-07-2022 16:00:16 |
| Video Discription | The Wirecard scandal brought the role of big auditing firms into focus. Their work is supposed to create trust in companies. But are appearances deceptive? EY, PwC, KPMG and Deloitte: these "Big Four" auditing firms are hardly household names. Yet they play a key role in the global economy. They have also all been at the center of a number of major financial scandals. For ten years, auditors at EY (Ernst & Young) certified Wirecard's annual financial statements. They failed to uncover that a network of fraudsters were using accounting tricks to write billions into Wirecard's books over several years. Hundreds of Wirecard employees lost their jobs, and thousands of investors lost a total of €4.5 billion. Why didn't the auditors recognize the fraud? Were they negligent, overextended? The Big Four dominate the global audit industry, and their vast knowledge of company- and tax-law making them indispensable. Because growth opportunities in auditing have largely been exhausted, the Big Four offer a raft of consulting services, not only to the companies they audit but also to governments. Have the Big Four become too powerful -- even out of control? This documentary explores the role auditors played in the Wirecard scandal, investigates potential conflict of interest within the Big Four, and sheds light on the companies’ role within a complex web of political and economic dependencies. #documentary #dwdocumentary ______ DW Documentary gives you knowledge beyond the headlines. Watch top documentaries from German broadcasters and international production companies. Meet intriguing people, travel to distant lands, get a look behind the complexities of daily life and build a deeper understanding of current affairs and global events. Subscribe and explore the world around you with DW Documentary. Subscribe to: ⮞ DW Documentary (English): https://www.youtube.com/dwdocumentary ⮞ DW Documental (Spanish): https://www.youtube.com/dwdocumental ⮞ DW Documentary وثائقية دي دبليو (Arabic): https://www.youtube.com/dwdocarabia ⮞ DW Doku (German): https://www.youtube.com/dwdoku ⮞ DW Documentary हिन्दी (Hindi): https://www.youtube.com/dwdochindi For more visit: http://www.dw.com/en/tv/docfilm/s-3610 Follow DW Documentary on Instagram: https://www.instagram.com/dwdocumentary/ Follow DW Documental on Facebook: https://www.facebook.com/dwdocumental We kindly ask viewers to read and stick to the DW netiquette policy on our channel: https://p.dw.com/p/MF1G |
| Category | Education |
| Tags | Documentary | Documentaries | documentaries | DW documentary | full documentary | DW | documentary 2022 | documentary | auditors | auditing companies | Wirecard scandal | financial scandals |
