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

The Unlikely Odds of the NBA Draft: A Closer Look at Ernst & Young’s Track Record

When it comes to the NBA draft lottery, the odds can seem more like a gamble than a fair process. Take the Dallas Mavericks, for instance; they held a meager 1.8% chance of snagging the coveted number one pick. That translates to just 1 in every 55 possibilities—while certainly feasible, it’s far from a guarantee.

This raises an intriguing question about the integrity of the draft lottery, particularly when considering the Accounting firm that oversees it: Ernst & Young (EY). Over the past five years, EY has been embroiled in a series of high-profile blunders that call into question their reliability and competence.

Let’s delve into some of their recent missteps:

• Wirecard (2020): EY approved financial statements reflecting a staggering €1.9 billion in cash that turned out to be nonexistent.

• Luckin Coffee (2020): The firm overlooked fraudulent activities as they failed to detect $300 million in inflated revenue claims.

• CPA Ethics Exam Scandal (2022): EY was caught cheating on internal ethics testing and subsequently misled the SEC, leading to a hefty $100 million fine.

• Brooge Energy (2024): Investors have accused the firm of neglecting or ignoring substantial revenue inflation ranging between 30% to 80% in their audits.

• Italy (2024): The firm faced investigations when their offices in Italy were raided over alleged bid rigging for European Union contracts.

Given this troubling history, one has to ponder: Is it more plausible that the Mavericks, with their slim odds, managed to secure the number one pick, or are we witnessing yet another scandal involving Ernst & Young? With so much on the line, the integrity of the draft process continues to hang in the balance, leaving fans and analysts alike questioning just how fair the game really is.