If you think Tongaat Hulett is having a tough time, spare a thought for its auditor, Deloitte. This is the third major corporate scandal to have dragged Deloitte into its wake in recent years, considering it also happened to be the auditor at Steinhoff (2017) and African Bank (2013).Insiders at Deloitte say that while they’re fairly comfortable that they can answer to what happened at Steinhoff (they didn’t audit Steinhoff’s European entities, where most of the fraud happened, for example), Tongaat has them really worried.Deloitte Africa CEO Lwazi Bam is reluctant to discuss this publicly, saying his company is still gathering the facts."We currently have no reason to believe that any current or previous Deloitte partner or staff member may have acted outside of the required independence and ethical rules and guidelines," he says.Should any wrongdoing be found, he adds, Deloitte will act quickly.Accounting technicalities aside, the question is: did the numbers it signed off even pas...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now