The use of the Beneish Model as a complementary tool in mitigating the risks of accounting fraud by corporate governance in the brazilian capital market

Given the corporate scenario of publicly traded companies, this study has the central objective to conduct an analysis on the use of the Beneish Model as a complementary tool in mitigating the risks of accounting fraud by corporate governance of companies, besides giving the opportunity to the market to detect in advance the manipulation of results in the balance sheets made available by these organizations. The methodology applied for the development of the article was grounded by the documentary nature, quantitative approach and with data collection for exploratory and descriptive purposes, through articles, Stock Exchange (B3 Bolsa, Brasil, Balcao) and documentary research with emphasis on corporate governance and the Beneish Model. The study addresses cases of fraudulent scandals involving large companies over the years and which became public in the period 2012-2021, presenting relevance to the literature, and contributing to identifying possible improvements that can mitigate the fraud of publicly traded companies, as well as exploring Corporate governance in companies as a possible filter of irregularities in accounting statements. In addition, the present methodology is based on the work of Beneish (1999). To do so, a descriptive study was carried out in the data of the accounting statements of three companies listed on the Brazilian stock exchange (B3), which have already presented frauds, as follows: CVC Brasil Operadora e Agencia de Viagens, Petroleo Brasileiro S.A. (Petrobras); Americanas S.A. When examining real cases of financial fraud, we look at how the use of the Beneish method can identify warning signs that indicate possible fraudulent practices.