COMPANY COMMENT
Journalist’s book more informative than PwC investigation
Fourteen months and 100 auditors later, all we have from the auditing firm is a 10-page sanitised overview of the Steinhoff saga
A redacted version of Rob Rose’s book, was how one leading legal academic described the light-weight “Overview of Forensic Investigation” by PwC, referring to the much weightier account of the Steinhoff implosion written by Financial Mail editor Rob Rose. After 14 months of investigating by 100 PwC auditors and untold numbers of Steinhoff employees the public has been provided with a sanitised 10-page overview of a report that apparently runs to 3,000 pages and has 4,000 documents as annexures and presumably cost tens of millions of rands. It — the 10-pager — was apparently the best they could do in the context of alleged wrong-doers armed to the teeth with extremely well-paid lawyers. PwC and the Steinhoff board were evidently intent on ensuring they scored no own-goals by either giving away information or setting themselves up for a legal challenge ahead of the promised court action. Markus Jooste is the only person named in the overview and even his name is not formally connected...
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