It’s been five years since the Steinhoff scandal broke. Corruption Watch (CW) was one of many who condemned the financial irregularities which resulted in the South African multinational retail holding company overstating its assets and profits by nearly $12-billion. Since that time the calls for justice and consequences have not let up, especially those targeted Read more >
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CORRUPTION NEWS
In late 2017 the Steinhoff scandal broke, sending tremors of anger and outrage around the world, especially in the countries where the South African multinational retail holding company traded or was listed. Accounting irregularities dating back to 2015 were uncovered during an auditing probe triggered by the refusal of Deloitte, Steinhoff’s auditing firm at the Read more >
PRESS RELEASES
The second wave of arrests of individuals involved in the looting of VBS Mutual Bank, this time focused on municipal officials, represents an important step towards holding accountable those responsible for one of the most blatant abuses of resources intended for the provision of basic services. The first arrest in this second phase took place Read more >
CORRUPTION NEWS
Auditors and auditing firms have been in the news in recent months. We read about the likes of VBS Mutual Bank, Steinhoff and others, where auditors seemingly turned a blind eye to irregularities. Firms such as KPMG, which has been implicated in scandals involving the Gupta-owned Linkway Trading as well as the South African Revenue Read more >
PRESS RELEASES
Corruption Watch condemns the conduct of Steinhoff involving financial irregularities, as confirmed by former CEO, Markus Jooste, who resigned in the wake of the allegations. The civil society organisation will continue to monitor the outcome of the investigation, and will shine a light on the impact of these corrupt business dealings. The organisation calls on Read more >
