How high is EY’s liability?
EY has limited its liability to its contractors for their respective activities there. However, this does not affect the liability in the external relationship, i.e. it is irrelevant for an action for damages by the investor due to the issuance of a culpably incorrect audit opinion for the consolidated financial statements of Wirecard AG.
Since we assume that the actions were intentional, it is not to be expected that EY’s insurance company will have to pay for the damage incurred. However, since EY was able to generate over 2 billion euros in sales in Germany alone last year and is also part of the international EY-Global group of companies, we expect that legally existing claims for damages will also be economically enforceable.