The planned hearing later in August into the circumstances surrounding the collapse of Steinhoff by no less than three portfolio committees will be the third in the series of parliamentary hearings into this corporate scandal. The highlight of the event is likely to be the appearance of the group’s former chief financial officer, Ben le Grange, who has apparently indicated he will attend the hearing, having missed the first two. If he changes his mind, and assuming former CEO Markus Jooste continues to turn down invitations to attend, the parliamentarians, journalists and members of the public will have to rely on the various regulatory bodies for entertainment. Ensuring entities such as the Financial Sector Conduct Authority, Independent Regulatory Board for Auditors, the JSE, the Companies and Intellectual Property Commission and the Reserve Bank have to stand up and remind the public of exactly why they have not been able to make much, if any, progress makes it a useful exercise....

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now