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> They just took what Wirecard gave them to confirm what Wirecard told them for something as important as accounts that were supposed to hold almost all the cash the company had

The same thing killed Barings Bank in the 90s, only on that occasion it was an internal audit

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Madoff was the same as well. SEC "investigators" accepted falsified documents and failed to verify transactions with third parties. Particularly with options trades.

But he didn’t exactly fool his auditor...

https://www.sec.gov/news/press/2009/2009-60.htm

He fooled them for many many years, over 16 years according to Wikipedia. If the financial crisis didn't happen, it would probably still be going on.

I meant he and his auditor fooled the SEC.

Okay. That's what I meant, too. He fooled the SEC for over 16 years.

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