The Soapbox

Blah

Joined: 08/31/2001 Posts: 31759
Likes: 49037


To create legitmate pro forma financial statements, there is ...


an understanding an organization past financials are accurate ... or at the very least act in good faith. However, when you're purposely lying on past financials, the forecasts are based off of a lie. That is not how investment banking works. That is why reputable accounting firms audit an organization's past financials to reassure the potential lender / investor.

If you don't believe me, just ask why Enron and Arthur Andersen got into trouble. For a poster (LAHoo) with decades of experience in the capital markets, it's amazing he knows none of this. It makes one wonder.

[Post edited by Blah at 12/19/2023 09:17AM]

(In response to this post by Shenhoo)

Posted: 12/19/2023 at 09:01AM



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