How to say we cheated without saying we cheated

[bill_schubert]

Economists are famous for being more inscrutable than Charlie Chan.  Whoever came up with this Peloton explanation clearly had grounding in economics theory:

 It [Peloton] also reported a “material weakness” in its accounting processes that spooked investors—shares fell more than 6% after hours.

So just what is a 'material weakness'?  That is one of the most euphemistic phrases for 'we were cheating and got caught and we're hoping nobody really notices' I've ever heard.

I'm reporting a material weakness in my calorie count today.

Comments

[daphnep.livejournal.com]

A material weakness in my accounting practices—ha ha, I’m totally going to steal that for work. I rely too much on the “fuzzy math” joke and this is so much better. And it’s budget season, so much forecasting…2022 may well bring out a material weakness in my financial projections.

[maju01.livejournal.com]

"Material weakness" could be applied in many different ways. Very useful phrase.