Accounting Firm Hired by Trump Media Platform Permanently Banned by Regulators. SEC Calls Failures 'One of the Largest Failures by Financial Gatekeepers' from ipo news nasdaq Watch Video
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⏲ Duration: 0:42 👁 View: 1M times ✓ Published: 08-May-2024
Description: 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.