Poor Eric. Poor dimwit. Being in court just isn’t like being on Fox News, where everybody is nice and wants you to succeed and touches up your makeup and your hair. They don’t do any of that in court. In fact, that judge, Engoron, he even joked about it at the break, when the cameras were let in, “Everybody have their makeup on?” Imagine that, TV cameras and makeup being a joke? Why, these are the very sacraments of Trump world, no wonder Daddy doesn’t like this guy.
One person who was listening carefully to testimony today was Eric’s cousin Mary Trump. She says he blew it. Bigly? Why? Because nobody has a good enough memory to be a chronic liar like the Trumps are and keep it all straight.
Unbelievable. Eric testified today and basically just lost the entire case.
1) After testifying he “never heard” about the Trump org statement of financial condition until recently, he later admitted that he knew about it in 2013.
2) After saying he never worked on it, he was… pic.twitter.com/i6vJ8d8QJD
— Mary L Trump (@MaryLTrump) November 2, 2023
rest of tweet: “showed an email where employees were told he was working on it. They lie so much, they can’t even keep track of their own bullshit. Sounds like perjury is on today’s menu.”
Eric will be back on the stand tomorrow. Hopefully, if he’s got any sense at all, he’ll start telling the truth and keep himself from a perjury charge. Nothing like inconsistent, or better yet, contradictory statements to get that ball rolling.
And Junior will be back on the stand as well. Below is the Catch-22 that’s almost comical
They keep blaming the accountants as if the engagement letter doesn't read the accountants are relying on the documents provided by the Trump family. The lies cannot be blamed on the victim of the lies. pic.twitter.com/EHFrIHNkkS
— KD (@Fly_Sistah) November 2, 2023
Guess what, Eric and Junior? Accountants don’t make it up out of whole cloth. They use the figures that they’re given by their principals, the people who pay their fees. That means you. Whoops.
No, CPA’s do not make shit up…usually. There are whores in every profession. Here is an example of what accompanies audits (this one is for a favorable opinion):
We, the auditors, have audited the income statement, balance sheet, and cash flow statement of XYZ Company as of December 31, 20xx.
We completed our audit according to the auditing standards set out by Generally Accepted Accounting Principles (GAAP) in the United States. Based on this audit, we have obtained reasonable assurance that the above noted financial statements are free of material misstatement.
As part of our audit, we examined and tested evidence supporting the figures contained in the financial statements. We also assessed the accounting principles and estimates used by the company in preparing their financial statements. This audit formed the basis of our opinion, stated below.
In our opinion, the financial statements of XYZ Company are represented in accordance with Generally Accepted Accounting Principles (GAAP) in the United States.
If you get an Accounting Degree (B.S.) from an accredited college/university, you will take at least one Auditing course. You WILL be required to memorize that audit opinion statement as well as the one for an unfavorable audit.
Here’s the thing, auditors do not just get handed the financial statements and say “Oh, ok, looks good”. They look at business/accounting practices of the business up to and including how transactions are recorded. They watch how a business does business and how the office folks do their jobs. They take random samples of things like invoices, checks, etc. If they have reason to think the financial statements are b.s. they will take large random samples. You might say “well, they are being paid by the xyz company so they’ll do the audit as the company directs”. Wrong. An auditing firm and the auditors involved have reputations (the auditors, if they are CPA’s have licenses) to protect. It does not take much to sully an accounting firm’s rep (we no longer have the Big 5 accounting firms you know). So, yeah, they don’t make it up out of whole cloth generally. But if the auditors who audited the trump org. financial statements were doing their jobs correctly, I would think problems would have been exposed during the audit unless the trump org. had a really, really good accountant who could not only keep dual sets of books but keep the phony books with very good fake invoices, etc. You’d be surprised how difficult this is. You do not know what will be chosen during the random sampling so you have to be prepared to present whatever documentation the auditors ask for: you are given the, say invoice, numbers from the sampling and you provide those invoices. If you cannot provide these, you fail the audit. Again, this is not a cake walk.
I would like to know what accounting firm was doing the trump org’s audits because if the companies passed the audits, if the auditors were doing a fair and factual audit, I don’t see how so much corruption, tax evasion, fraud, etc. could have been committed for so many years. The firm doing the audits were not doing their jobs properly OR the trump org. wasn’t committing all those crimes. I think the former is more likely. I also wonder if that Weismann fellow had a hand in the audit, hired the auditors, etc. That there would explain a great deal.
One of Trump’s auditors just quit flat. This was the guy tasked with the audit of the DWAC that is financing Truth Social. Supposedly they have another auditor, now, but that auditor seems very quiet. (Maybe we should check on that auditor, ya think?)
Unless I miss my guess, auditing the Trumps must be the equivalent of financial science fiction.
Even though I have an accounting degree, I have trouble believing that the Trump accounting person could be so stupid as to get involved in something criminal. Eventually, they will be found out and be in a lot of trouble.
Three words: Enron, Arthur Anderson. Enron provided false,ridiculously complex deal figures. The accounting firm looked the other way. We know how that worked out for the auditors.
And the firm. Arthur Andersen is no longer one of the Big Five accounting firms.