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

The Unfair Odds of the NBA Draft: Are We Looking at Another Ernst & Young Controversy?

As the excitement of the NBA draft approaches, one can’t help but question the fairness of the process. For the Dallas Mavericks, who entered the lottery with a mere 1.8% chance—essentially 1 in 55—of securing the coveted first overall pick, the odds appear stacked against them. It’s not impossible, but one has to wonder: is it more plausible that the Mavericks defy the odds, or that Ernst & Young, the auditing firm overseeing the draft lottery, finds itself embroiled in yet another controversy?

Ernst & Young (EY) has had its share of high-profile missteps over the past five years, raising concerns about its reliability. Take a look at some of their most notable blunders:

• Wirecard (2020): EY was responsible for signing off on financial statements that claimed €1.9 billion in cash was available, a sum that, as it turned out, was fictitious.

• Luckin Coffee (2020): In another significant lapse, EY failed to catch $300 million in fabricated revenue at the Chinese coffee chain, leading to devastating consequences for investors.

• CPA Ethics Exam Scandal (2022): EY faced scrutiny after being caught cheating on internal ethics exams, an act that led to a $100 million fine and a scandal that shook the Accounting community to its core.

• Brooge Energy (2024): A lawsuit was brought against EY, accusing the firm of overlooking or ignoring blatant revenue inflation, ranging from 30% to 80%.

• Italy (2024): The situation escalated when EY’s Italian offices were raided in connection with allegations of bid rigging regarding EU contracts.

With a track record like this, one has to ask: what is more likely? That the Dallas Mavericks miraculously pull the number one pick from the draft lottery, or that Ernst & Young finds itself at the center of yet another Audit scandal?

As we await the results, the stakes are high, and the integrity of the NBA draft is hanging in the balance. Let’s hope that the excitement of the draft doesn’t get overshadowed by the hesitations surrounding its oversight.