It’s more likely that Ernst & Young messed up again than it is that the NBA draft is fair

Is the NBA Draft Just Luck, or Is Ernst & Young to Blame?

In the realm of professional sports, the NBA draft lottery is supposed to embody chance and fairness. However, recent events around the Dallas Mavericks’ slim 1.8% chance of securing the top pick in the draft raise eyebrows. With odds akin to winning a lottery—just 1 in 55—it begs the question: is the draft genuinely as fair as it claims to be?

A significant player in this scenario is the Accounting firm Ernst & Young (EY), which oversees the lottery process. Regrettably, EY’s past is dotted with notable blunders that have undermined its credibility and raised concerns about its competence. In light of this, one can’t help but wonder if the Mavericks’ luck has less to do with basketball and more with the firm’s rocky track record.

Consider the following missteps over the last few years:

• Wirecard (2020): EY approved financial statements that indicated €1.9 billion in cash, which, as it turned out, never existed.
• Luckin Coffee (2020): The firm failed to identify a staggering $300 million in inflated revenue, all while conducting audits.
• CPA Ethics Exam Scandal (2022): EY was embroiled in controversy for cheating on internal ethics exams, leading to a $100 million fine after misleading the SEC.
• Brooge Energy (2024): Investors sued the firm, accusing it of neglecting or outright ignoring obvious revenue inflation in the range of 30% to 80%.
• Italy (2024): The offices of EY in Italy were raided over allegations of collusion in bidding for EU contracts.

As these instances illustrate, the odds may be statistically against a team securing the first pick, but when considering EY’s questionable history, one can’t help but feel like the real story may not just be bad luck for the Mavericks. Is it more probable that the Dallas Mavericks will hit the jackpot, or could it be that Ernst & Young finds itself in yet another scandal?

The responsibilities wielded by such firms in significant processes like the draft lottery call for rigorous scrutiny. As fans and observers, we deserve to examine not only the results on the court but also the integrity of the systems behind these pivotal moments in sports.