A long-time accountant for the Trump Organization, Mazars USA, has decided to break its ties with Donald Trump's family business. It then recanted a decade's worth of financial statements it prepared for the Trump Organization.

Mazar's attorney warned that financial statements from 2011 to 2020 "should no longer be relied upon," adding that the company should inform any recipients of that information not to depend on those files, NPR reported.

Mazar's attorney noted all of these in a letter dated February 9 sent to the Trump Organization's executive vice president and chief legal officer.

William Kelly, Mazars' general counsel, writes that they have come to the conclusion based upon the filings made by New York Attorney General on January 18.

Trump Organization released a statement through the company's spokesperson Kimberly Benza.

Benza said that the company is disappointed that Mazars has chosen to part ways.

Kelly wrote in the letter that Mazars performed its work in accordance with professional standards, adding that it complied with the statements based on information provided by the Trump Organization.

Ronald Fischetti, an attorney who represents Trump, declined to comment on the matter.

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Trump Organization's Financial Documents

The financial statements were used to obtain loans for the former president's company. In addition, it is currently the focus of at least two investigations, according to a CBS News report.

New York Attorney General Letitia James is leading a parallel civil probe, with her office issuing subpoenas to Trump, Donald Trump Jr., and Ivanka Trump in December 2021.

Meanwhile, Trump and his lawyers have repeatedly accused James of pursuing the investigation against him as a political ploy.

James said in a statement that evidence continues to pile up, showing that Trump and the company used "fraudulent and misleading" financial statements to secure an economic benefit.

The New York attorney general said that the accounting firm's statement and actions further supported the legitimacy of the investigation on the company, according to a Reuters report.

James's office also noted media reports that Trump had destroyed documents covered by the Presidential Records Acts.

The attorney general wants the former president to supply a sworn statement on whether the files produced for her probe are complete and how they may have been destroyed, and by whom.

The accounting firm also said in its statement that it cannot comment on any client services or relationships under its standards of professional ethics.

Mazars has been cooperating with the investigation, adding that Trump's main accountant at Mazars has already testified before a grand jury hearing evidence about Trump, according to The New York Times report.

James highlighted potential misleading statements about the value of at least six Trump properties, including golf clubs In Westchester County, New York, and Scotland.

Trump's own penthouse home in Trump Tower was also included in the properties being probed.

The filing noted that Trump claimed that the triplex apartment has a value of $427 million, with its 30,000 square feet. However, the apartment was 10,996 square feet.

Allen H. Weisselberg, Trump's chief financial officer, later told investigators that the company had overvalued the apartment by "give or take" $200 million.

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This article is owned by Latin Post.

Written by: Mary Webber

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