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The German arm of EY has been fined 500,000 euros after acting as the auditor for collapsed payments company Wirecard and barred from auditing certain kinds of companies for two years FRANKFURT, Germany -- The German arm of EY, one of the world's Big Four accounting firms, has been fined 500,000 euros ($544,630) after acting as the auditor for collapsed payments company Wirecard and barred from auditing certain kinds of companies for two years. Germany's APAS accounting oversight body said it imposed the fine for breach of professional duty in auditing Wirecard from 2016 to 2018. It said the decision can be appealed in court, and while it bars the auditor from taking on new companies “of public interest,” it does not prevent it from servicing existing clients. Wirecard filed for bankruptcy protection in 2020 after 1.9 billion euros ($2.1 billion) in cash balances on the company's books could not be verified. Its former CEO, Markus Braun, is on trial on charges of defrau...

Millions of Latitude customers, whose sensitive data was leaked during a cyber attack, could be eligible for payments from a potential class action. The consumer finance company revealed earlier this week that 14 million Australian and New Zealand customers were exposed after personal records were stolen from its systems by hackers. WATCH THE VIDEO ABOVE: Millions of Latitude customer s could receive payments from potential class action . Watch the latest News on Channel 7 or stream for free on 7plus >> The attack , detected earlier this month, snared 7.9 million drivers licences, about 53,000 passport numbers and an additional 6.1 million records, including names, addresses, telephone numbers and dates of birth. Now, Australian firm Hayden Stephens and Associates have launched an investigation which could lead to a class action against the company. The lawyers will examine how the breach was able to happen and whether the company did enough to protect customers’ personal in...