This is yet another *HUGE* conflict of interest from private equity.
Who can trust the marks on their books when it isn't a true outside audit?
If you really want to understand the worst players in the PE industry, These Are The Plunderers by @gmorgenson is required reading.

junkbondinvestor
@junkbondinvest
1/3 of the largest US accounting firms are now owned by PE.
The concern regulators are raising: What happens when auditors find something wrong at a company owned by the same PE firm that owns them?
In the UK, that’s banned. In the US, it’s just... a concern being raised.


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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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