Exclusive: German coalition agrees tighter oversight after Wirecard scandal

Germany's coalition parties have agreed a package of reforms to financial and accounting rules aimed at avoiding another Wirecard scandal, a document seen by Reuters shows. Lawmakers launched a parliamentary inquiry in an effort to force the government to reveal more about a failure to avert Germany's biggest post-war corporate fraud, pressuring Finance Minister Olaf Scholz, who is the Social Democrat candidate to replace conservative Chancellor Angela Merkel in next year's federal election. The government's Wirecard action plan gives watchdog BaFin increased control rights and requires companies to switch their accounting firms after 10 years, the document showed.