The DA is not going to agree to “pussy foot” around Steinhoff International Holdings N.V.

30 January 2018

We are concerned to hear [see press statement] out of the blue that lawyers, acting on behalf of Parliament, are in behind-the-scenes negotiations on the “legal parameters” for the hearings on the scandal surrounding “accounting irregularities” at Steinhoff International Holdings N.V.

We are not going to agree to “pussy foot” around the scandal surrounding “accounting irregularities” at Steinhoff International Holdings N.V.

That is why we have proposed that:

- former, and serving directors, of the Supervisory Board, and Management Board, of Steinhoff International Holdings N.V. appear, or be summonsed to appear, at the hearings;

- that considerably more time be allocated for to the presentation and the cross examination of witnesses from Steinhoff International Holdings N.V.;

- that Deloitte B.V., Deloitte South Africa, the Companies and Intellectual Properties Commission and the South African Revenue Service appear at the hearings; and

- that committee members be allocated time to cross examine witnesses in line with the practice adopted by the Standing Committee on Public Accounts.

We have not been consulted on any “legal parameters”, and we have not agreed to any “legal parameters”, and insist that for any “legal parameters” to be credible, they must be agreed to by the committee’s participating in the hearings, rather than lawyers acting on behalf of Parliament.

We need to be tough on crime in the public sector, and tough on crime in the private sector, and we need to do everything to ensure that the public hearings into the scandal surrounding “accounting irregularities” at Steinhoff International Holdings N.V. does not turn out to be a shambles in Parliament.

Issued by David Maynier, DA Shadow Minister of Finance, 30 January 2018