fabricated financial statements
[/fæˈbrɪkeɪtɪd fəˈnænʃəl ˈsteɪtmənts/]
nounpl: fabricated financial statements
demonstrações financeiras falsificadas
1. Financial documents that have been intentionally altered, falsified, or created with false information to misrepresent a company's financial condition, performance, or cash flows
The auditors discovered that the company had presented fabricated financial statements to secure a bank loan.
Os auditores descobriram que a empresa havia apresentado demonstrações financeiras falsificadas para obter um empréstimo bancário.
2. Fraudulent accounting records designed to deceive investors, creditors, regulators, or other stakeholders about the true financial health of an organization
The CEO was arrested for preparing fabricated financial statements that inflated company profits.
O CEO foi preso por preparar demonstrações financeiras falsificadas que inflacionaram os lucros da empresa.
This term is particularly significant in both Brazilian and American business contexts following major corporate scandals like Enron and Petrobras. In Brazil, fabricated financial statements became a major concern after the 2015 Petrobras accounting scandal. The practice is heavily regulated by the CVM (Comissão de Valores Mobiliários) in Brazil and the SEC in the United States, with severe criminal penalties for perpetrators.
NYC Slang
cooked books; cooking the books
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