This article is about auditing, your comments appear to be about consulting / advisory businesses.
Otherwise, I mostly agree, though I don't support a ban. It's a complex topic - companies are free to waste money how they want, and even governments do need real advice. It's just too bad they pick such shitty advisors to support decisions they've already made instead of actually seeking good advice.
Yes, companies should be free to waste their money as they want. However, auditors serve a purpose and that is to identify any fraudulent activities. In the case of Wirecard, EY failed at this.
Correct and that is why they should be made accountable for this. I'm with gp that this particular ban is a bit harsh but nonetheless it is the state determining accountabilities and it seems to have been a thorough investigation.
OTOH, the monetary penalties where a bit on the light side so maybe that also balances out the rather harsh ban.
Advice for money at least at the top level is in the long run always going to end up bad advice. The incentives are pretty much all about lining up more work for the firm.
Otherwise, I mostly agree, though I don't support a ban. It's a complex topic - companies are free to waste money how they want, and even governments do need real advice. It's just too bad they pick such shitty advisors to support decisions they've already made instead of actually seeking good advice.