November 26, 2022

Raven Tribune

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Law firm sees interest contradiction: Trump’s auditors thrown out

The law firm sees the conflict of interest
Trump’s auditors were thrown out

The New York Attorney General has been investigating the Trump Empire since 2019. As a result, the audit firm severed business ties with the former president’s group. The law firm warns that the balance sheets of the past decade are no longer reliable.

Former US President Donald Trump’s longtime audit firm has terminated its cooperation in the course of its investigation into his corporate empire and withdrew its financial statements. Majors said in a letter to the Trump organization that the end of the business relationship would lead to an “inevitable conflict of interest.” This is evident from the court documents from Monday (local time).

The auditors conclude that the annual financial statements for the period June 2011 to June 2020 are “no longer reliable”. The company instructed Trump to notify recipients of financial statements. The letter read on February 9 read, “Although we have not, we have concluded that the various financial statements as a whole contain material contradictions.

The auditors have prepared a financial statement based on information provided by Trump and his company. The Trump administration said in a statement that the auditors’ decision was disappointing. However, he considers the letter as “a letter confirming that the Company’s work has been carried out in accordance with all applicable accounting standards and policies and that there are no discrepancies in this balance sheet.” “New York Times” From the report. It says the prosecutor’s office’s investigations are superfluous.

The New York Attorney’s Office accuses Trump’s corporate empire of fraudulent business practices. New York Attorney General Letidia James said the purpose of these practices is to obtain “various economic benefits” such as insurance coverage or tax deductions. “As the most recent filings show, there is growing evidence that Donald J. Trump and the Trump organization used fraudulent and misleading financial statements to gain economic advantage,” Democrat James said Monday. The suspicion that Trump’s company provided false information about the value of his real estate is under extensive investigation, among others.

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