An audit carried out by the federal government’s internal control body revealed a possible accounting provision error in Correios’ balance sheet amounting to one billion reais, linked to labor lawsuits, which could increase the company’s deficit, already at 6 billion reais in September. The public company is experiencing financial difficulties and will receive a Treasury guarantee for a loan of 12 billion reais.
“As planned in the restructuring plan, the company is improving controls and criteria related to legal responsibilities. Correios continues to work to ensure its financial viability, strengthening governance and trust with the company,” the company highlighted in a note.
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