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Media Statements

the dti and CIPC to Investigate Steinhoff

The Department of Trade and Industry (the dti) and the Companies and Intellectual Property Commission(CIPC) have noted with great concern allegations of governance failures and financial irregularities at South African retailer Steinhoff which led to the resignation of its Chief Executive Officer, Mr Markus Jooste. the dti and CIPC will be launching an investigation into the allegations in so far as they relate to non-compliance with the Companies Act and Regulations.  the dti will further suggest that the Independent Regulatory Board for Auditors (IRBA) also consider the circumstance with regard to the role of Auditors in this instance.

Sidwell Medupe-Departmental Spokesperson
Tel: (012) 394 1650
Mobile: 079 492 1774
Issued by: The Department of Trade and Industry
Follow us on Twitter: @the_dti