Saturday Star

Run on Numbers The role of the big four auditing companies

The death of former Steinhoff CEO Markus Jooste has dominated news events over the past couple of weeks, and it brings with it a renewed focus on South Africa’s biggest corporate scandal that has shaken the investment community. We find ourselves questioning how things could go so wrong.

Jooste had surrounded himself with some of the country's most astute and highly rated businesspeople. The former chairperson of Steinhoff was the proven business visionary leader Christo Wiese. His head of the Audit Committee was the ex-Absa CEO, Steve Boysen, other company directors included Stephan Grobler, Dirk Schreiber, former European finances chief, and ex-director Siegmar Schmidt.

According to media reports, Jooste was to be prosecuted for manipulation of the Steinhoff share price and misrepresentations to other businesspeople such as Jayendra Naidoo,

You’re reading a preview, subscribe to read more.

More from Saturday Star

Saturday Star3 min read
Simbine, Jingqi rule, Wayde ‘shakes legs’
THE king is alive, long live Akani Simbine, the 30-year-old speedster proclaimed after clinching his sixth SA 100m title in the SA National Championships in Pietermaritzburg yesterday. Simbine started his season at the Msunduzi Athletics Stadium this
Saturday Star3 min read
MK’s Legacy At Stake As Spat Over Logo’s Ownership Rages
INTERNAL wrangling concerning the rightful ownership of the MK logo is threatening to boil over and throw the matter up in the air and weaken the ANC’s argument in court. In spite of court papers filed confirming that the logo has been handed over to
Saturday Star3 min read
Lots Of Good Luck To Come Out Of This Collaboration
The band GoodLuck emerged from a two-year hiatus with their first Afro-tech-inspired collab with Frigid Armadillo on the track Goodbye My Friend. Described as a “captivating journey through emotive soundscapes”, blending Afrobeats and an incredible

Related Books & Audiobooks