CPA here.... A Compilation relies solely on client prepared info with no assurance of the numbers. But I have never known a lender who has a client the size of Trump Organization that would not require a full audit. Just my two cents.
Trump has each parcel of real estate in a separate corporation. Generally, financial statements are per entity and not consolidated unless they are public ownership.
My intuition says that the CPA either conflicted out or were pressured by another client in the cancel culture or by the government through threats.
My best guess, having been in these situations as a CPA, it’s politics.
If they were auditing a municipality, county or government entity, the elected officials may have forced this to retain the larger client.
AND THIS.
<><> BARRON HILTON OF HILTON HOTEL FAME COULD NOT GET AN AC GAMING LICENSE
<><> HUGH HEFNER OF PLAYBOY COULD NOT GET AN AC GAMING LICENSE
<><> BOB GUCCIONE OF PENTHOUSE COULD NOT GET AN AC GAMING LICENSE
TRUMP GOT THREE AC GAMING LICENSES......PLUS ANOTHER IN AN ISLAND RESORT.
I have never known a lender who has a client the size of Trump Organization that would not require a full audit.
Trump had scads of lenders eager to do business with him.
The vetting was brutal.
I heard there were issues with loans given to Trump. Isn’t it true, that audited financial statements, and not a compilation, would be required by any financial institution considering giving a loan to a business?
I don’t know where this investigation Is going, but, if CPA gave the assurance on the financials after an audit, that CPA would have a lot to answer for, if that’s what’s going on.