Gol Linhas Aereas Inteligentes S.A.
|Company Name||Gol Linhas Aereas Inteligentes S.A.|
In the fiscal 2019 annual report, Gol’s auditor, KPMG raised significant concerns about the Company’s accounting, including that Gol lacked “(i) effective policies and procedures related to the identification and disclosure of material uncertainties in the going concern analysis and (ii) effective review of financial statement information, and related presentation and disclosure requirements.”
Then, on July 23, 2020, Gol announced the termination of KPMG as its external auditor.
On this news, the Company’s share price fell $0.55, or 7%, to close at $7.25 per share on July 23, 2020, thereby injuring investors.
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