Home Accountant Trump’s accountant must be held accountable

Trump’s accountant must be held accountable

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I’ve been late all week to discuss yet another post-presidential setback for Donald Trump because details that would allow me (or you) to assess the seriousness of said setback have been (and remain) missing.

The only thing that can be reported with certainty is that Mazars, the company that has been accounting for the activities of the Trump Organization for many years, terminated its relationship with Trump and, in doing so, publicly repudiated the last decade’s worth of Trump’s finances. statements, warning that no one should rely on these statements.

It can’t be good for the former president… it could be very bad.

But Mazars has not yet provided any details. At this time, we don’t know when we will find out what prompted Mazars to end a lucrative relationship with the Trump Organization.

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It can reasonably be inferred that Mazars has learned that something is seriously wrong with Trump Org’s public financial disclosures over the past decade. But Mazars, who is largely responsible for the accuracy of these statements, is unwilling to tell us what is wrong.

The former president, who still hasn’t publicly accepted that he lost the 2020 election and constantly claims he didn’t, has cause for concern, legally, politically, financially and otherwise. But, insofar as accounting shenanigans are on that list of things to worry about, this item has only gotten worse.

I am not an expert in accountant-client relations. But Mazars bears at least some responsibility for those financial statements, which various parties have relied on in doing business with Trump. These parties, to the extent that they were deceived, and the State of New York and the federal government, which relied to some extent on these financial statements to tax the Trump organization, have a right to know what does not go into the statements prepared by Mazars, which, according to Mazars, were, how to say, inaccurate.

For more, here’s an article from the Washington Post, which says Mazars has joined a growing list of “banks, law firms and consulting firms that have pledged to no longer do business with the Trump Organization… The leader of Mazars, William J. Kelly, said a ‘non-cancellable conflict of interest’ prevented the company from continuing to work for Trump.

Stay tuned.