South African regulator probing Steinhoff auditors to continue investigation

JOHANNESBURG (Reuters) - South Africa's Independent Regulatory Board for Auditors (IRBA) said on Sunday that following its initial review of Steinhoff's auditors Deloitte South Africa it would pursue further lines of investigation.

The IRBA said in December 2017 it would investigate Steinhoff's auditor following the retail group's disclosure of accounting irregularities.

Steinhoff, whose more than 40 brands include Britain's Poundland, revealed accounting irregularities in December.

"The Steinhoff case is a multifaceted one which will require significant investigation. Nevertheless, our initial review of the audit files has identified some lines of further investigation which we are pursuing,” the IRBA said in a statement. It did not give further details.

(Reporting by Tanisha Heiberg. Editing by Jane Merriman)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• US judge blocks Trump administration's plan to scrap FBI headquarters move to Maryland
• Foreign holdings of US Treasuries fall in June, led by Japan, UK, China, data shows
• Cargill workers vote to end dispute that idled US beef plant