German prosecutors are examining Ernst & Young’s role in the collapse of disgraced payments operator Wirecard, ratcheting up pressure on the audit firm.

Munich prosecutors said they are evaluating a report by the country’s accounting watchdog into the company’s collapse this summer. The watchdog, known as Apas, launched an investigation into the work of the auditing firm’s local affiliate, EY GmbH, after Wirecard admitted that more than $2bn of cash it had said was held in bank accounts on its behalf didn’t exist.