20/14700: Recommendation and report recommendation and report of the 1st investigation committee of the 20th election period in accordance with Article 44 of the Basic Law (PDF), Drucksachen

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20/14700: Recommendation and Report of the 1st Committee of Inquiry of the 20th Legislative Period Pursuant to Article 44 of the Basic Law (PDF)

Recommendation:

The 1st Committee of Inquiry of the 20th Legislative Period recommends that the Bundestag adopt the following resolution:

  1. Accept the report of the 1st Committee of Inquiry of the 20th Legislative Period.

  2. Express its thanks to the Committee for its work.

Report:

The 1st Committee of Inquiry of the 20th Legislative Period was established on 8 September 2021 to investigate the “Wirecard scandal.” The Committee’s mandate was to investigate the following:

  • The circumstances and causes of the Wirecard scandal, including the role of the company’s management, supervisory board, auditors, and regulatory authorities.
  • The impact of the scandal on investors, creditors, and employees.
  • The lessons that can be learned from the scandal to prevent similar scandals in the future.

The Committee conducted a total of 58 hearings, heard from 105 witnesses, and examined over 100,000 pages of documents.

The Committee’s report concludes that the Wirecard scandal was a “serious failure of corporate governance and financial supervision.” The report identifies a number of factors that contributed to the scandal, including:

  • A lack of due diligence by Wirecard’s auditors and supervisory board.
  • Weaknesses in the German financial regulatory system.
  • A lack of transparency and accountability at Wirecard.

The Committee’s report makes a number of recommendations to prevent similar scandals in the future, including:

  • Increasing the independence and accountability of auditors and supervisory boards.
  • Strengthening the German financial regulatory system.
  • Improving transparency and accountability at companies.

The Committee’s report is a comprehensive and damning indictment of the Wirecard scandal. The report’s recommendations should be taken seriously by policymakers and regulators to prevent similar scandals in the future.

Links:

20/14700: Recommendation and report recommendation and report of the 1st investigation committee of the 20th election period in accordance with Article 44 of the Basic Law (PDF)

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Drucksachen a new article on 2025-02-18 11:00 titled “20/14700: Beschlussempfehlung und Bericht Beschlussempfehlung und Bericht des 1. Untersuchungsausschusses der 20. Wahlperiode gemäß Artikel 44 des Grundgesetzes (PDF)”. Please write a detailed article on this news item, including any relevant information. Answers should be in English.


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