Source: US News & World Report
“Former U.S. President Donald Trump’s media and technology company said it had replaced its auditor, BF Borgers, after the U.S. Securities and Exchange Commission (SEC) charged the accounting firm with ‘massive fraud’ on Friday. Trump Media & Technology Group said in a filing with the SEC on Monday that it had switched to Semple, Marchal & Cooper on Saturday. The change was recommended and approved by the company’s audit committee. Borgers, the auditor of the Truth Social parent since 2022, agreed to a $12 million civil penalty and to discontinue practicing as accountants on SEC filings, the agency said. … According to the SEC, Borgers did not properly maintain and audit documentation, fabricated audit planning meetings and in some cases, passed off previous audits for the current audit period.” (05/06/24)