Ann Crotty Writer-at-large

In the coming years, as various regulators and prosecuting agencies battle to hold someone accountable for the R200bn of destruction wreaked by the Steinhoff International implosion, one thing will become clear — layers of expensive advisers did little to protect shareholder interests.

As regulation and legislation increase, all that seems to happen is the addition of more entities to the blame game. A common feature of every corporate scandal that has hit SA in recent years is the refusal by anyone to accept responsibility for anything.

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