Germany's accountancy watchdog has denied blame for failing to spot problems at collapsed payments firm Wirecard, the latest in a string of agencies to shirk responsibility following the country's biggest accounting scandal.
Allegations of fraud at Wirecard had been doing the rounds for years though German prosecutors focused on investigating the investors and journalists who had highlighted irregularities rather than the company. Early last year, BaFin also asked Germany's accounting watchdog - the privately-owned Financial Reporting Enforcement Panel - to examine Wirecard's accounts, but the report had yet to be delivered by the time the company collapsed.
Bavaria's local government, which monitors financial companies to prevent money laundering, said it wasn't in charge of keeping tabs on Wirecard as it did not fit the definition of a financial company, a spokeswoman said.
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