Financial regulators have permanently banned the accounting firm hired by the parent company of Donald Trump’s media platform after an investigation found that the firm was not actually conducting audits but merely copying past work and forging dates. The investigation did not cover any audit work the firm may have performed for Trump Media and Technology Group. The SEC called it one of the largest failures by financial gatekeepers, as audits play a critical role in investment decisions. Trump Media & Technology Group had initially hired Borgers for its IPO but then fired the firm after the SEC's enforcement action.
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00:00 It's Benzinga and here's what's on the block.
00:02 Financial regulators have permanently banned the accounting firm hired by the parent company
00:06 of Donald Trump's media platform after an investigation found that the firm was not
00:11 actually conducting audits but merely copying past work and forging dates.
00:15 The investigation did not cover any audit work the firm may have performed for Trump
00:19 Media and Technology Group. The SEC called it one of the largest failures by financial
00:23 gatekeepers as audits play a critical role in investment decisions. Trump Media and Technology
00:29 Group had initially hired Borgers for its IPO but then fired the firm after the SEC's
00:33 enforcement action. Trump Media replaced Borgers with a new accounting firm based in Phoenix,
00:38 Arizona. For all things money visit Benzinga.com