Steinhoff director spills the beans about accounting irregularities and Jooste’s disappearing act
On Wednesday, in Parliament, director and chairman of Steinhoff’s audit committee, former ABSA CEO, Steve Booysen recounted the dramatic discovery on Monday December 5 of the alleged accounting irregularities which have rocked the group and led to the resignation of former CEO Markus Jooste. Booysen told a hearing on the Steinhoff scandal held by the finance, public accounts, and public service and administration committee that he only got confirmation of alleged accounting irregularities at 9.45am on December 5. The auditors had raised issues on September 20 for management to resolve. Management engaged with the external auditors and the result of this work was presented to Booysen on November 14. From then on, Booysen worked full-time with the company until December 14. As soon as the confirmation of the accounting irregularities was received on December 5, Booysen told MPs, then Steinhoff CEO Markus Jooste was called in to explain the transactions, accounting entries and, "more i...
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