NETHERLANDS
VEB issues Deloitte with writ summons
Deloitte Africa CEO Lwazi Bam confirmed on Wednesday that Deloitte in the Netherlands has received a writ of summons from VEB, the Dutch share-holder association, and is reviewing the document. "Deloitte Netherlands has indicated it will not provide any further comment," said Bam. Deloitte has also refused to respond to questions put to it by VEB, which is now claiming the right available under Dutch law to inspect Deloitte’s audit working papers. VEB hopes to establish whether Deloitte had a reasonable basis for issuing an unqualified auditor’s report on the 2016 financial statements. VEB said the applicable rules and regulations require Deloitte to prepare and retain audit working papers in respect of the audit procedures it performed. "Such audit working papers must be sufficiently complete and detailed, so that a proper picture can be formed of the performance of the audit procedures conducted at Steinhoff by Deloitte," said VEB. It said that when Deloitte (Netherlands) took ove...
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