Latest Big Four News

  • Institutionalize Crypto: Big Four Analytics Tools May Lure in Traditional Investors
    Institutionalize Crypto: Big Four Analytics Tools May Lure in Traditional Investors
    Big Four firms introduce data analytics tools to help manage crypto and digital assets for institutional clients. Once dominated by young and savvy retail investors, the cryptocurrency market has seen increasing interest lately from institutional investors and large fintech firms.
  • Shareholders File Criminal Complaint Against EY for Alleged Role in Wirecard Scandal
    Shareholders File Criminal Complaint Against EY for Alleged Role in Wirecard Scandal
    Shareholders in German fintech Wirecard are taking legal action against Big Four auditor EY in the fallout from the scandal now engulfing the company. Shareholders in German fintech Wirecard are taking legal action against Big Four auditor EY in the fallout from the scandal now engulfing the company. Earlier this month, the auditor had refused to sign off the fintech’s 2019 financial report after discovering a shortfall of €1.9 billion (roughly $2.1 billion) on its books.  Following EY’s discovery, German authorities arrested Wirecard’s (now-former) CEO, Markus Braun, who had been at the helm of the fintech for almost two decades.  Braun has been accused of conspiring to inflate the company’s assets and misrepresent what amounted to over 32% of Wirecard’s assets — $2.1 billion of a claimed $6.5 billion. According to CNBC on June 26, EY said that there are “clear indications that this was an elaborate and sophisticated fraud, involving multiple parties around the world in different institutions, with a deliberate aim of deception.”  The auditor defended its position, claiming that “even the most robust and extended audit procedures” would not be able to derail a “collusive fraud” of this nature. The German shareholders’ association, Schutzgemeinschaft der Kapitalanleger e.
  • KPMG Introduces Cryptocurrency Management Platform
    KPMG Introduces Cryptocurrency Management Platform
    KPMG has launched a cryptocurrency management platform designed to accelerate institutional crypto adoption.