...and you have to wonder if there is another Enron amongst others (?)
...SMCI is down another -4.4% after having fallen -11.97% yesterday on the audit walkout.
Ernst Young is paid by the client to certify.
10 times out of 10 they will work with you to the last drop to get you signed off on an audit. You have to basically be committing murder in broad day light for your own consultants to not sign off.
It is HEAVILY implied by this act that $SMCI is cooking the books by a lot, not a little.
This won’t end well and implicates a ton of other companies with them.
I can honestly say you only see this with something like Lehman
