How/Why a small corporate in a small country corrupted a #BigFour #accounting firm ( #Deloitte )
Middle 1988 Hertz Corporation sold its Portuguese subsidiary.
Calheiros came as chairman of the purchasers.
Deloitte was hired for 31/12/1988 y.end audit
Dezember 1988 a 60M Pte check (299,2 thousand €) was cashed.
There was no backup support. So, the transaction wasn't booked in the accounts.
Deloitte senior field work chased an explanation, and...
The chairman called her, the accountant, and stated:
1. That transaction was a taxation "saving" (blatant euphemism for TaxFraud)
2. No references should be made both in Auditor's Report/Management Letter.
3. Otherwise, another Auditor would be hired for next y.end.
- Deloitte coped and gained following year end audit work!
Calheiros is currently a vice-president of a non profit organization, whose mission is:
1. Enforce ethics and accountability in corporate governance...
2. promote good corporate governance practices as an essential tool for economic efficiency, sustainable growth...
https://cgov.pt/orgaos-sociais
https://cgov.pt/atividade-institucional/37-orgaos-sociais/822-duarte-maria-de-almeida-e-vasconcelos-calheiros
Reasoning for this this public post...
António Guterres statement about corruption:
https://twitter.com/antonioguterres/status/999301006805659648?s=19
1. Corruption affects developed and developing countries alike, and complicity knows no borders.
2. It cripples economic development, stifles entrepreneurship and deters foreign investment.
3. Those who can least afford corruption suffer the most.
And...
#UnitedAgainstCorruption
.
Corruption affects developed and developing countries alike, and complicity knows no borders. It cripples economic development, stifles entrepreneurship and deters foreign investment. Those who can least afford corruption suffer the most. https://t.co/1iHeXMkThe
— António Guterres (@antonioguterres) May 23, 2018
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