According to Baker et al. (2020) fraud has five major elements: (1) it involves two parties – a fraudster and a victim, (2) a fraudster knowingly or unknowingly facilitates a false statement, (3) a fraudster accepts the statement being false, (4) a victim relies on the false statement or presentation, and (5) reliance on the presentation results in a damage or risk of damage to a victim. Describe the situation at Americanas, assigning a number (1 to 5) to the reference shareholders, the CFO, the auditor PwC, and the employees according to your perspective.