Doctorate – A study of the main frauds in financial institutions in Brazil: Reflections on lessons learned

Tipo de evento: 
Data e hora: 
10/07/2020 - 14:30 to 17:30


Roberta Maia Said

Doctorate –  A study of the main frauds in financial institutions in Brazil: Reflections on lessons learned

Advisor: Prof. Dr. Reinaldo Guerreiro

Comission: Profs. Drs. Lucas Ayres Barreira de Campos Barros, Ivan Ricardo Gartner, José Alonso Borba and Luiz Nelson Guedes de Carvalho

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As a science that studies property, care for the prevention and deterence of accounting fraud is within the scope of accounting. In this sense, when looking at the Brazilian literature regarding studies about information or evidence of how accounting fraud occurs in the Brazilian case, a was verified a gap in this regard in the national financial system. This research was motivated, about the idea of understanding how the dynamics of relationships occurred between the occurrence of fraud and the instruments of corporate governance, in Brazilian financial institutions, therefore, the general objective of this thesis is to investigate the main frauds in financial institutions that occurred in Brazil and its relations of control, deterrence and detection in the context of Corporate Governance. It is worth mentioning that the National Financial System (SFN) has a consolidated and independent control structure that has supervision and inspection systems, preventive and punitive instruments, in addition to moving large and representative values. In addition, SFN is extremely regulated, with a structured governance and compliance system, in addition to having a first and second instance administrative sphere that judges’ cases of accounting fraud, whose access to data’s is public. In order to achieve the proposed objective, needs to conduct a qualitative research, which enabled the capture of behavioral aspects, observable standards of fraudulent practices, interactions between control organs and instruments, this make it possible to discover, understand and describe complexity, as well such as relationships involving accounting fraud and Corporate Governance. Another relevant aspect is to consider what the literature attributes as guiding good governance and its relationships and interactions in cases of accounting fraud. We used content analysis from the judgments issued by the Conselho de Recursos do Sistema Financeiro Nacional (CRSFN), a second administrative instance, which judge’s cases of accounting fraud, among other matters, within the scope of the SFN. In order to provide greater security and validity to the data analysis, the qualitative software Nvivo 12 Mac was used to categorize the information in the search for relationships, interactions and patterns that can be inferred. As main results, it can be mentioned that the profile of fraud committed in SFN, in its majority, involves Fraudulent Statements, whose main objective is to benefit the organization, are committed by the top managers usually by male who are member of the board. On average, it takes 8 years between the moment the fraud is detected and its judgment in the second instance, with 6% of the decisions of the first instance being modified in the second instance. In 40% of the cases, such changes were aimed at reducing the punishment applied, reducing the disqualification time for the exercise of management positions in the administration or management at institutions in the inspection area of the Central Bank of Brazil, for example. Finally, attention is drawn to the responsibility of corporate governance in preventing, deterring and detecting accounting fraud.

 *Abstract provided by the author




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