“At this time, it is not possible to determine all the impacts of such inconsistencies on the company’s income statement and balance sheet,” says the note. 😱
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According to the note, accounting reductions would be recorded for supplier accounts made in previous years, including last year.
“The Company estimates that the cash effect of these inconsistencies is immaterial”, it informs.
The CEO, Sergio Rial, and the Investor Relations director, André Covre, communicated their decision not to remain with the company. They were sworn in on January 2nd.
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If there is confirmation that it is a accounting fraud or manipulation, the R$20 billion loss will be one of the biggest ever known in the Brazilian market. An example? A fraud do Panamerican Bank was R$4 billion and resulted in bankruptcy.
In 2019, a accounting manipulation of R$ 600 million was discovered by the reinsurer IRB Brasil and resulted in a 90% drop in shares in the Stock exchange.
Read the relevant fact in full.
Curto Curatorship:
- Sergio Rial announced his departure from Americanas in a letter to employees (Value)(I.e.
- The questions that Americanas (AMER3) will have to answer to the market today (Value)(I.e.
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