PwC assembles 60-strong team for Steinhoff probe, involving 14 work streams
Accounting firm PwC has assembled a team of more than 60 people globally to probe the allegations of accounting irregularities involving retailer Steinhoff, which has more 700 individual entities operating in 30 different jurisdictions.Technical accounting, legal and IT specialists have been drawn into the investigation, which also involves seven full-time partners, the head of PwC’s forensics arm in Africa Louis van Strydom reported in Parliament on Wednesday.Van Strydom appeared at a follow-up hearing on Steinhoff involving four parliamentary committees — finance, public accounts, public service, and administration and trade and industry.Members of the Steinhoff executive management did not attend the hearing. Their legal representative Rob Driman of Werksmans told MPs that all senior managers had to attend a managers meeting in the UK this week to deliberate on future strategy and restructuring, and to meet local and global vendors.Driman said the management board members acting ...
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