Empresas La Polar, S.A. (A) Case Solution
This is just an excerpt. This case is about GLOBAL BUSINESS
PUBLICATION DATE: October 17, 2016
On June 9, 2011, Empresas La Polar S.A., a Chilean merchant, notified the Chile’s securities compensation that it had actually found abnormalities in its accounting for charge card receivables. A deceitful charge card plan directed by essential executives and missed out on by auditors and directors was going to lead to an approximated deduction in excess of US$ 300 million. On June 17th, the business recommended the commission that the deduction would, in truth, be double the initial price quote, amounting to US$ 640 million, resulting in unfavorable equity. The filing supported to a decline in the worth of the business’s stock market worth, dropping from US$ 1.2 billion to US$ 281 million and putting the business at threat of insolvency. Matko Koljatic is associated with Pontificia Universidad Católica de Chile.
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