South African Police to Hire Auditor to Help Steinhoff Probe
- Hawks official says investigation is now being fast-tracked
- Steinhoff almost collapsed in 2017 amid an accounting crisis
The headquarters of Steinhoff International Holdings in Stellenbosch, South Africa.
Photographer: Waldo Swiegers/BloombergThis article is for subscribers only.
South African anti-corruption police are stepping up their investigation into alleged financial wrongdoing that caused the near collapse of Steinhoff International Holdings NV with the appointment of external forensic auditors and analysts.
An elite law-enforcement division, known as the Hawks, assigned more people to a probe of the retailer after starting a fast-track process last month, spokesman Brigadier Hangwani Mulaudzi said by phone on Thursday. The National Treasury will need to approve the appointment of an auditor.