Three parliamentary committees will conduct an inquiry into the Steinhoff saga and have lined up most of the key role players to make presentations. The Steinhoff share price went into a tailspin after disclosures that its financial statements could not be relied on because of "accounting irregularities". The nature of these irregularities is still under investigation. The three committees that will combine for the one-day hearing next Wednesday are the finance committee, the public accounts committee and the public service and administration committee. Included in the draft programme are presentations by Steinhoff, the JSE, the Treasury, the Financial Services Board, Reserve Bank, Independent Regulatory Board for Auditors, the Government Employees Pension Fund and the Public Investment Corporation. DA finance spokesman David Maynier has expressed concern that the programme might be "dysfunctional" because a "mere" 30 minutes was allocated to Steinhoff International Holdings to pres...
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