'Very unusual': GOP lawmakers react with concern about Trump's longtime accounting firm cutting ties with him

'Very unusual': GOP lawmakers react with concern about Trump's longtime accounting firm cutting ties with him
Mitt Romney speaking at the 2012 Conservative Political Action Conference, Mark Taylor

Republican lawmakers are sharing their reaction to former President Donald Trump's accounting firm distancing itself from him and admitting details about the questionable circumstances surrounding the last decade worth of his financial statements.

According to Business Insider, a number of Republican lawmakers and public figures are weighing in with their opinion of the latest bombshell. Speaking to The Hill, Sen. Mitt Romney (R-Utah) described the situation as "very unusual."

"I've never seen that happen to an ongoing entity. They did also in their statement say that they didn't see anything of a substantial nature ... that suggested there had been misreporting, but it will obviously create a great deal of anxiety inside the organization and an effort to find what that problem was," Romney said.

Aside from Romney's remarks, other top-ranking Republican leaders and lawmakers have also expressed concerns that suggest TrumpWorld may be imploding. Trump's negative press and ongoing investigations could potentially impact the political party's chances of regaining any control of government in the upcoming midterm elections.

The Republican reactions follow Mazars' statement, its departure, and remarks about Trump's financial statements. Insider reports that New York Attorney General Letitia James' office released a statement from Trump's longtime accounting firm as part of the investigation into the Trump Organization.

In the damning statement, Mazars also admitted that the last 10 years of Trump's financial statements "should not be relied upon."

Per Insider: "The determination comes after New York Attorney General Tish James' office said last month that these statements repeatedly 'misstated objective facts' including the size of his Trump Tower penthouse; overstated his liquidity; deviated from general accounting principles to reach property valuations; 'failed to use fundamental techniques of valuation'; and did not disclose that some of those valuations were artificially inflated to help Trump's brand."

Mazars noted that its conclusion is based on a number of facts including details from James' office, an internal investigation, and details provided from "internal and external sources." In its severance letter to the Trump Organization, Mazars highlighted the discrepancies and how they contribute to the invalidity of Trump's financial statements.

"While we have not concluded that the various financial statements, as a whole, contain material discrepancies, based upon the totality of the circumstances, we believe our advice to you to no longer rely upon those financial statements is appropriate," the firm wrote.

Romney's remarks come shortly after Lincoln Project founder George Conway offered a detailed analysis of Mazar's abrupt departure from its business relationship with Trump. But despite the incriminating investigative details, Trump still denies any wrongdoing.

#story_page_post_article

Understand the importance of honest news ?

So do we.

The past year has been the most arduous of our lives. The Covid-19 pandemic continues to be catastrophic not only to our health - mental and physical - but also to the stability of millions of people. For all of us independent news organizations, it’s no exception.

We’ve covered everything thrown at us this past year and will continue to do so with your support. We’ve always understood the importance of calling out corruption, regardless of political affiliation.

We need your support in this difficult time. Every reader contribution, no matter the amount, makes a difference in allowing our newsroom to bring you the stories that matter, at a time when being informed is more important than ever. Invest with us.

Make a one-time contribution to Alternet All Access, or click here to become a subscriber. Thank you.

Click to donate by check.

DonateDonate by credit card
Donate by Paypal
{{ post.roar_specific_data.api_data.analytics }}