Disgraced South African Firm Steinhoff's Audit Exposes the Rot

Steinhoff International is a retail holding company dealing mainly in furniture and household goods. In 2017 the shock resignation of CEO Markus Jooste prompted an investigation that revealed among others, that the group's profit and asset values had been falsely inflated by the executives for years. The firm will release its restated and audited financial results for 2017, giving investors insight into how a year-long forensic probe by auditing firm PricewaterhouseCoopers has altered the multinational retailer's financial position.

 

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