neoaccounting

Poundland-owner Steinhoff International has appointed PwC to conduct an independent review into accounting irregularities The company announced that new information had emerged which required investigation into accounting irregularities, and said it was unable to publish its financial results as a result. In the same statement, the South-African retailer also announced that its chief executive Markus Jooste would be leaving the company with immediate effect. Deloitte is Steinhoff’s current auditor. Deloitte declined to comment due to client confidentially obligations and the ongoing investigations. Steinhoff said in a statement that it would publish its audited 2017 consolidated financial statements when it is in a position to do so. The investigation could result in prior years’ financial statements needing to be adjusted. Jooste has been replaced by the chairman Christo Wiese, who will work as executive chairman on an interim basis. Pieter Erasmus, fo...