quote:

The accounting firm Mazars has fired the Trump Organization as a client after saying that a decade’s worth of statements of ex-President Donald Trump’s financial condition “should no longer be relied upon,” the New York Attorney General’s office revealed in a court filing Monday.

Mazars, which for years prepared Trump’s income tax returns and financial statements used to obtain loans for his company, told the Trump Organization’s top lawyer Alan Garten that it would no longer represent the company due to the lack of reliability of the financial statements in a letter last Wednesday.

quote:

Originally posted by CHAS:
How long did it take them to figure that out?

quote:

Originally posted by Piano*Dad:
I suspect that Mazars has cut a deal with the prosecutors. But they're probably toast as a company, or so I hope. If you're honest, why would you use people who have just admitted that they're cheats. And if you're corrupt, you know they would throw you under the bus in a heartbeat.

quote:

Originally posted by CHAS:
How long did it take them to figure that out?

quote:

Originally posted by wtg:
I learned a new term today, "Bates number".

https://twitter.com/gtconway3d...Enews%7Ctwgr%5Etweet

quote:

Translated from legal-accountingese, the [Mazars] letter was an unmitigated disaster for Trump, far beyond his possibly having to file late returns. By saying the statements “should no longer be relied upon,” the accountants effectively announced, You misled us. By “totality of the circumstances,” they likely meant, The prosecutors investigating you, and the case they’re making, are serious.

By pronouncing “a non-waivable conflict of interest,” they were all but saying, We’re on team A.G. — or we might have to join someday soon. And by saying no “new work product” and quitting, they essentially declared, We don’t trust you — and we’re certainly not going to jail for you.

quote:

Now the man who long has had trouble finding decent legal representation might find it all but impossible to find new auditors and tax preparers. It’s hard to imagine that any reputable accounting firm will touch his tax returns, let alone fix and bless his financials for a decade or more.

Even if lenders don’t exercise any rights they might have to call in their loans, Trump apparently still needs to refinance hundreds of millions’ worth of them soon. As Trump biographer Timothy L. O’Brien of Bloomberg Opinion puts it, “Good luck refinancing your debt when the accountants” — who have just declared a decade of your financials utterly worthless — have “just walked out the door.”

quote:

Opinion: Trump’s luck may finally be running out