22 December 2017

South Africa: Dutch Authority for the Financial Markets Investigating Deloitte Accountants for Their Role in the Audit of Steinhoff International Holdings

press release

Note to Editors: A copy of a press release from the Dutch Authority for the Financial Markets on their investigation into Deloitte Accountants B.V. into the audit of the financial statements of Steinhoff International Holdings N.V. can be found here.

Today, I was informed by Mr Martijn Duffels, Senior Supervision Officer, Audit & Reporting, that the Dutch Authority for the Financial Markets (AFM) have decided to launch an investigation into the role of Deloitte Accountants B.V. in the audit of the financial statements of Steinhoff International Holdings N.V.

This follows my request on 07 December 2017 for the regulators in three jurisdictions, including the Dutch Authority for the Financial Markets (Netherlands), the Auditor Oversight Body (Germany) and the Independent Regulatory Board of Auditors (South Africa), to investigate the role of Deloitte Accountants B.V. in in the audit of the financial statements of Steinhoff International Holdings N.V.

We need to know whether Deloitte Accountants B.V. turned a blind eye to accounting irregularities at Steinhoff International N.V.

In the end, we need to be tough on crime in the public sector, and tough on crime in the private sector, and that is why we will ensure that the accounting irregularities at Steinhoff International Holdings NV, are fully investigated both abroad and in South Africa.

David Maynier MP

DA Shadow Minister of Finance

South Africa

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