PwC hound now a Steinhoff watchdog
Ailing retailer snaps up investigator who probed its accounts
Steinhoff International has appointed the man who has spent more than a year combing through its dealings as its new chief compliance and risk officer. Louis Strydom was the PwC partner in charge of the forensic investigation started shortly after the resignation of CEO Markus Jooste in December 2017. Jooste's departure, and Steinhoff's postponement of its annual results release due to "accounting irregularities", sparked the sell-off which wiped more than 90% off the value of what had been the seventh-largest company listed on the JSE. PODCAST: Hear from the Steinhoff whistleblowers Subscribe: iono.fm | Spotify | Apple Podcasts | Pocket Cast | Player.fm The company has spent most of the time since selling assets and persuading creditors to give it enough time to restructure and hopefully trade itself out of trouble. But Steinhoff's route forward is fraught with risk. "It is crucial that we have a central role to ensure independent risk oversight across the entire group," Steinhoff ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.