Semple, Marchal & Cooper (SM&C) has reportedly been expelled from a national accountancy alliance due to its association with Trump Media & Technology Group (NASDAQ:DJT), according to a recent lawsuit.
What Happened: SM&C assumed the role of auditor for TMTG in May 2024, following the closure of TMTG’s previous accounting firm for fraudulent activities. This new client relationship led to a dispute with BDO Alliance USA, a software and training provider for SM&C since 1994, reported the Financial Times.
BDO Alliance USA is one of the largest networks of accounting and professional service firms, comprising over 900 independent firm locations across nearly every U.S. state and offering a wide range of services.
The lawsuit claims that BDO, the sixth-largest accounting firm in the U.S. by revenue, threatened to terminate SM&C’s membership …