The Independent Regulatory Board for Auditors (Irba) has extended its investigation into the role of Deloitte in the auditing of Steinhoff’s financial statements back by two years to 2012. The investigation will now extend from 2012 to 2016, the period during which Steinhoff had its primary listing in SA. The probe is likely to take about three years and will depend crucially on the outcome of the PricewaterhouseCoopers (PwC) investigation of allegations of accounting irregularities by the global retailer. This investigation is expected to be finalised only by the end of 2018. Irba, PwC, the JSE, the Companies and Intellectual Property Commission and the Hawks appeared on Wednesday before four parliamentary committees — finance, public accounts, trade and industry and public service and administration — for a hearing on the Steinhoff debacle. The decision to extend the probe into Deloitte was based on information received, Irba director of standards Imran Vanker told MPs. Irba will ...

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 Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00.