Markus Jooste reveals his ‘big mistakes’ about Steinhoff
After two years of investigation by two German legal firms on behalf of Steinhoff into allegations under investigation by German authorities, he had had enough
Former Steinhoff CEO Markus Jooste said in parliament on Wednesday that he resigned on December 5 2017 because the group’s board did not accept his proposal that it immediately terminate the services of Deloitte as auditor, appoint a new set of auditors, and publish unaudited financial statements on the scheduled date. Instead, the board decided to launch a new, independent investigation at the insistence, in November 2017, of the group’s auditor Deloitte, which Jooste said had done an “about-turn” on its previous view that no new investigation was needed. Deloitte had concerns about the independence of a probe conducted on behalf of Steinhoff. Jooste said in testimony before four parliamentary committees that after two years of investigation by two German legal firms on behalf of Steinhoff into allegations under investigation by German authorities, he had had enough and felt frustrated. He believed that whatever needed to be investigated had already been thoroughly investigated. “I...
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