Dutch Investors’ Association VEB has issued summons against Deloitte for breach of obligations when it audited Steinhoff Holdings. "In issuing the unqualified audit report as part of the group’s annual accounts for financial 2016, Deloitte was in breach of its obligations," Armand Kersten, head of European relations at VEB, said on Tuesday. VEB said it had summoned Deloitte to appear before the district court of Rotterdam in relation to the losses suffered by the Steinhoff shareholders. "By incorrectly providing an unqualified report for Steinhoff’s financial statements for 2016, Deloitte seriously failed its duties as laid down by law for auditors," Kersten said. He said that due to the misleading financial statements Steinhoff investors had incurred billions of euros of losses. On December 6 2017, the supervisory board at Steinhoff revealed concerns about widespread accounting irregularities and said it was unsure about the actual value of more than €8bn of assets disclosed in its...
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