Accounting Firm Cuts Ties With Trump Organization

Mazars USA informed the Trump Organization that their financial documents should not be relied upon, following an investigation by New York Attorney General Letitia James, which found evidence of misleading financial statements. Legal experts suggest this implies asset overstatement. Mazars' decision was based on internal and external investigations, advising the Trump Organization to notify lenders and insurers. The Trump Organization expressed disappointment but noted no material discrepancies were found. They argue the investigations are politically motivated, while James insists on the legitimacy of the inquiry. The Trump Organization faces significant debt obligations in the coming years.

What prompted Mazars USA to advise the Trump Organization that their financial documents should not be relied upon?

• An internal audit

• A new tax law

• A change in accounting standards

• An investigation by the New York Attorney General

What was the basis for Mazars USA's decision regarding the financial statements?

• External market trends

• Both internal and external information

• Only internal information

• A directive from the Trump Organization

What did Mazars USA recommend the Trump Organization do after declaring the financial statements unreliable?

• Ignore the findings

• Seek a new accounting firm

• Inform lenders and insurers

• File for bankruptcy

How did the Trump Organization respond to Mazars USA's decision?

• They decided to sue Mazars USA

• They ignored the advice

• They claimed no material discrepancies were found

• They agreed with the findings

What financial challenge does the Trump Organization face in the coming years?

• A decrease in revenue

• A rise in operational costs

• A loss of key clients

• Hundreds of millions of dollars in debt