ROB ROSE: Beware the c-suite don
There’s a golden thread linking the egregious corporate scandals at Tongaat Hulett, Steinhoff and EOH – the man in the corner office
There has been a lot of sound and fury over the "accounting scandals" which have pockmarked the JSE over the past year. The most recent, adding to a list headed by Steinhoff and EOH, is sugar company Tongaat Hulett.
In yet another dismal admission of investment deceit, Tongaat said on Friday that a forensic investigation had "revealed certain past practices which are of significant concern … [which] have resulted in financial statements that did not reflect Tongaat Hulett’s underlying business performance accurately".