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MIL OSI Translation. Region: Germany / Deutschland –

Source: DGB – Federal Board

07.10.2020DGB chairman Hoffmann welcomes the consequences of the Wirecard scandal After the allegations of manipulation and falsification of accounts against the financial service provider Wirecard, the Federal Ministry of Finance and Justice now want to draw conclusions. Federal Finance Minister Olaf Scholz has announced a draft law. It is right to ensure a more powerful balance sheet and final audit, says DGB chairman Reiner Hoffmann. Effective control of corporate management includes “in particular the co-determination of employees on the supervisory board”.

DGB / / Katerina Solovyeva

“With their in-depth knowledge of the situation in companies, employee representatives on the co-determined supervisory board also strengthen the monitoring of compliance and risk management systems. This strengthens the competence of the supervisory board and makes the company less susceptible to corruption and white-collar crime, ”said Hoffmann. Apparently, Wirecard AG has evaded corporate co-determination through legal tricks. This is shown by a current study by the Hans Böckler Foundation. This was possible “because the law on third party participation does not provide for automatic group allocation of employees in subsidiaries,” said Hoffmann. The DGB has been pointing out this deficiency for years. “The ministries should now seize the opportunity to eliminate this.”



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EDITOR’S NOTE: This article is a translation. Apologies should the grammar and / or sentence structure not be perfect.

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