Is the NBA Draft Fair? A Closer Look at the Mavericks’ Odds and Ernst & Young’s Controversies

When it comes to the NBA draft, the Dallas Mavericks faced uphill odds with just a 1.8% chance of securing the coveted first overall pick—essentially a 1 in 55 shot. While such an outcome isn’t impossible, it remains highly improbable.

This brings us to Ernst & Young, the Accounting firm that oversees the draft lottery process. In recent years, EY has found itself embroiled in several major controversies that have called its reliability into question. Here’s a brief overview of some notable incidents:

• Wirecard Collapse (2020): EY signed off on the financial statements claiming that €1.9 billion in cash was on hand, a figure that turned out to be completely fictitious.

• Luckin Coffee Scandal (2020): The firm failed to detect $300 million in fraudulent revenue as the coffee chain inflated its financial reports.

• Ethics Exam Controversy (2022): EY was involved in a scandal regarding cheating on internal CPA ethics exams, which led to lying to the SEC and a hefty fine of $100 million.

• Brooge Energy Lawsuit (2024): Investors accused EY of either neglecting or willfully ignoring substantial discrepancies in revenue reporting that ranged from 30% to 80%.

• Bid Rigging Allegations (2024): The Italian branch of EY faced raids over accusations of collusion in European Union contract bidding processes.

In light of these recurring issues, one must wonder: is it more likely that the Dallas Mavericks could pull off the improbable feat of landing the #1 pick, or is it more plausible that Ernst & Young has once again found itself in the midst of another Audit scandal? With history as our guide, the latter seems, unfortunately, more probable.

As fans and analysts speculate on the fairness of the NBA draft, it’s vital to keep in mind the track record of those responsible for managing it. Would you trust EY to handle this critical process, or does their history give you pause?