Exclusive: German coalition parties agree on reform package following Wirecard scandal – document

FILE PHOTO: The headquarters of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions is seen in Aschheim near Munich, Germany, September 22, 2020. REUTERS/Michael Dalder/File Photo

BERLIN (Reuters) – German coalition parties have agreed on a reform package which is meant to improve oversight and reduce conflicts of interest following the Wirecard accouting scandal, a document obtained by Reuters showed on Wednesday.

The government’s so-called Wirecard action plan gives Bafin watchdog increased control rights and requires companies to switch their accounting firms after 10 years, the document said.

Finance Minister Olaf Scholz and Justice Minister Christine Lambrecht are expected to present the reform package during a news conference later on Wednesday.

Source: Read Full Article