[NPR] New York's Attorney General Sues The Trump Foundation

Not necessarily.

If your client lies to you, there is nothing you can do.

 

the acctg firm could always decline the engagement or, at the least, issue a "subject to" opinion on the accuracy of the financial statement,

which is what it had done last week when it cut ties w Trump and informed AG JAmes that Trump's financial statement for the past 10 yrs can not be relied upon. https://abcnews.go.com/US/trumps-ac...l-disclosures-longer-relied/story?id=82886011

this was the letter the Acctg firm had written to the Trump co last week, a copy of which has been filed w the NYAG

"We write to advise that the Statements of Financial Condition for Donald J. Trump for the years ending
June 30, 2011 - June 30, 2020, should no longer be relied upon and you should inform any recipients thereof
who are currently relying upon one or more of those documents that those documents should not be relied upon,"

"We have come to this conclusion based, in part, upon the filings made by the New York Attorney General on January 18, 2022, our own investigation, and information received from internal and external sources,"
"While we have not concluded that the various financial statements, as a whole, contain material discrepancies, based upon the totality of the circumstances, we believe our advice to you to no longer rely upon those financial statements is appropriate."​

 

Sure they could decline, but they have no obligation too.

The tax firm is only required to follow professional standards, they are not required to audit the info you give them.

As long as their workpapers are clean, they will most likely be fine.

 

in the absence of a "subject to" opinion, the Acctg firm has violated the professional standard.

professional standards provide several guidelines / testing of clients records to ascertain that client has fully disclose their records.
recent reportings by the AG, such as free apartment for the sons of the COO/CFO, suggest that the Acctg firm didn't sufficient testing.
bluntly put, the acctg firm did an "half-assed" job, in clear violation of professional standards

 

This is extreme dick riding. I'm sure that post was at least 2 weeks old. You calm down when you see my handle and don't bother me about old ish

 

LOL... the other idiot son and his tweets as evidence.

 

The accounting firm that has for years prepared annual financial statements for Donald Trump and his businesses is cutting ties with his company and
says a decade's worth of the reports "should no longer be relied upon."​

Apart from the legal angle, what are the implications for the Trump co?


Just my guess,

in view of this development, no US accounting firm would be stupid enough to prepare financials statements / tax returns for the con man.
Absent reliable financial statements / tax returns, no banks/financial institution would be stupid enough lend money to Trump;
​

The loan against Trump Tower is scheduled to be due, on September 6, 2022. Trump borrowed $100 million against that property in 2012, and he has been paying only interest on it since then.

​

In addition, Trump Will Have another $800 Million Of Loans Coming Due Before 2024

​

​

 

And of course, the trump organization completely lies in their statement... (btw, the tweet is from a senior fellow in that libtard organization... the American Enterprise Institute)

 

More good news for trump...

 

Mitt Romney on Trump's Firing By His Accounting Firm

"I've never seen that happen to an ongoing entity. but it will obviously create a great deal of anxiety inside the organization and an effort to find what that problem was,"

 

That's Mormon speak for "The Sh^t Hit the fan"