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

Is the NBA Draft Fair or Just Another Ernst & Young Fiasco?

The recent NBA draft has sparked quite a debate on fairness and integrity, particularly when considering the odds of the Dallas Mavericks landing the coveted number one pick. With only a 1.8% chance—equivalent to 1 in 55—the possibility is technically there, but it hardly feels like a realistic expectation.

What adds fuel to the fire of skepticism is the involvement of Ernst & Young (EY), the Accounting firm tasked with overseeing the draft lottery. Over the past five years, EY has been embroiled in a series of high-profile controversies that have raised questions about its reliability and ethical standards.

Here are some notable incidents that have marred EY’s reputation:

• Wirecard (2020): This case involved EY approving financial statements that claimed €1.9 billion in cash, which, it turned out, was non-existent.

• Luckin Coffee (2020): EY’s oversight failed to catch an eye-watering $300 million in fabricated revenue, leading to significant fallout.

• CPA Ethics Exam Scandal (2022): In a shocking revelation, EY was found to have cheated on internal ethical examinations and subsequently misled the SEC, resulting in a hefty $100 million fine.

• Brooge Energy (2024): Allegations surfaced that EY overlooked—or perhaps chose to ignore—serious revenue inflation, reported to be between 30% to 80%.

• Italy (2024): The firm faced scrutiny when its Italian offices were raided for alleged bid rigging concerning EU contracts.

With such a track record, one can’t help but wonder: is it more plausible for the Mavericks to pull off a miracle and claim the top draft pick, or is EY poised to be at the center of yet another Audit debacle? After all, if history teaches us anything, it’s that the odds may very well be against both fairness in the draft and the credibility of those overseeing it.