SEC shuts down Trump Media auditor over 'massive fraud'

The ft.com article is paywalled, but the yahoo.com summary makes the auditor, BF Borgers, out to be faking each and every audit they "performed" for years, with a 100% deficiency rate. Also one of the most prolific auditors, and 80% of its customers are over the counter stocks.

This raises a couple of questions in my mind. First, don't any corporations care about the quality of an audit? I would think an audit would be useful in a number of ways, like are your internal books ok? Is any division in the company faking it? Are we inadvertantly spending more or less than we think?

Second, how did BF Borger get new customers? Do CEOs recommend shady service companies to each other?

Third, how did BF Borger retain employees? I've left jobs where I thought nothing interesting was happening, how do people stick around just to fudge documents and fake meetings?

No surprise here...

Edit: Isn't the headline misinformation by editorializing? Trump Media's audit company was shutdown, so it has to re-audit. Key Q: Does a publicly-traded company have to cease operations if it needs to re-audit?

https://archive.ph/YjTtZ

I would think that this sort of thing happens around most rich billionaires, Trump just happens to be in the spotlight. Would be much nicer if the same scrutiny could be applied equally, not just based on who’s in power