Meta (META) auditor EY raised a red flag on data-center accounting, via WSJ

• EY raised a red flag over the financial engineering Meta used to keep a USD 27bln data centre project off its balance sheet. While EY ultimately blessed the accounting treatment, the firm flagged it as a critical audit matter. 

EY's warning regarding Meta's accounting practices raises significant concerns about transparency and governance, particularly as it relates to a substantial data center project. While the accounting was approved, the designation of a "critical audit matter" suggests potential scrutiny from regulators that could impact investor confidence and affect Meta's stock performance.