Steinhoff has rejected a bid by this publication and the amaBhungane Centre for Investigative Journalism to obtain a copy of a full forensic report on what went wrong at the company, arguing it smacks of an "ulterior purpose".This issue dates back to last March, when Steinhoff released an abridged 11-page "overview" of the full 7,000-page report, compiled after an investigation by PwC. Even the abbreviated version confirmed that the retailer, which still owns 71% of Pepkor locally, as well as brands overseas like Conforama, Harveys and Mattress Firm, had been the locus of the largest corporate fraud in SA history.In all, PwC found that R106bn in "fictitious or irregular transactions" had been included in Steinhoff’s profits over more than a decade — a scam masterminded by former CEO Markus Jooste and a number of accomplices.But critics argued that publishing a scant summary wasn’t good enough. Craig Butters, a former analyst at Prudential, said at the time: "I am concerned they hide...

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 Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.