- The audit firm owned by former US President Donald Trump has ended its cooperation in the course of an investigation into his company’s empire and canceled the financial reports.
- The end of the working relationship was due to an “inevitable conflict of interest,” according to a letter from Mazars to the Trump Organization.
- The auditors also came to the conclusion that annual budgets for the period between June 2011 and June 2020 are “no longer reliable”.
The company advised the Trump Organization to notify degree holders. “Although we have not concluded that the various financial statements as a whole contain material inconsistencies, given the sum total of circumstances, we believe our advice to you that you should no longer rely on these financial statements is reasonable,” she said in the letter.
Legend:
Mazars prepared the financial statements based on information provided by Trump and his company.
Reuters
Trump’s company was disappointed with the decision, but it shows investigations are unnecessary.
The New York Attorney General’s office is charging Trump with fraudulent business practices.
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