Rolf Dobelli and Wirecard
It is always enjoyable to browse through the insights and wisdom of Rolf Dobelli. He also saw the drama around Wirecard coming in a way, as this quote proves:
“A particularly well-established cargo cult ritual can be found among the auditors. Every year, a checklist is ticked off: Is there a signed protocol of each supervisory board meeting? Is every expense receipt correctly booked? Are the revenues correctly delimited in time? Everything is formally correct. When the companies collapse or get into trouble a few months later – like Enron, Lehman Brothers, AIG or UBS -, the auditors are very surprised. Apparently, they are really good at detecting formal deficiencies – just not at finding the real risks.”
– Rolf Dobelli in his book “The Art of Good Life – 52 Surprising Ways to Happiness”, Piper Verlag
