Follow our live updates from Parliament where Steinhoff executives, the Hawks, the NPA and other regulatory bodies are expected to brief Parliament on the status of investigations into the group.
Executives from Steinhoff, together with the Hawks, the National Prosecuting Authority, the JSE and other regulatory bodies will on Tuesday morning appear before a joint sitting of three Parliamentary committees.
Du Preez said the financial effect of the accounting irregularities, which, according to the PwC report, overstated Steinhoff's income and assets via irregular transactions by €6bn, will only be known when the 2017/18 financial results are released. In response criticisms that Steinhoff did not act quickly enough against wrongdoers, she said it was important for legal processes to take their course.
Rory Voller of the CIPC responded to questions about the legal basis for withholding the names of those implicated for wrongdoing at Steinhoff. He told the committee he believed there are no legal grounds to withhold names anymore. In response to a question around why proactive monitoring processes could not detect wrongdoing, she said if things are deliberately withheld they can be difficult to pick them up.Yunus Carrim, the chair of the oversight committee on finance, has said that former Steinhoff chair Markus Jooste is probably"jogging" or"shopping". DA MP David Ross, during a short discussion period, asked why it took the JSE so long to pick up irregularities at Steinhoff.
Newton-King said the JSE issued a consultative document in September 2018, with the purpose of working on proposals for the JSE to strengthen its regulatory approach to new and existing listings.
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