Trump's Accounting Firm Retracts Financial Statements

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19. This Is The Type Of Thing That Killed Arthur Anderson...

Which was the accounting firm for Enron, back in the early 00s. As the auditor for Enron, "[f]ollowing the 2001 scandal in which energy giant Enron was found to have reported $100bn in revenue through institutional and systematic accounting fraud, Andersen's performance and alleged complicity as an auditor came under intense scrutiny. The Powers Committee (appointed by Enron's board to look into the firm's accounting in October 2001) came to the following assessment: 'The evidence available to us suggests that Andersen did not fulfill its professional responsibilities in connection with its audits of Enron's financial statements, or its obligation to bring to the attention of Enron's Board (or the Audit and Compliance Committee) concerns about Enron's internal contracts over the related-party transactions'."

Acting as accountant for the tRump organization (and as tRump's personal accountant, IIRC) Mazars had a legal duty to report dubious/fraudulent accounting practices by tRump and they didn't do so. They're reacting this way now, in order to try and stem any legal ramifications (possibly as part of a back door cooperation agreement).

See, shit like this is why they have to teach "business ethics" in business school. Obviously, those lessons don't sink in. Ethics, rules and laws are only for the little guys, I guess. 🙄