Labour federation Fedusa says it suspects collaboration and conniving in the Steinhoff saga.

Fedusa is one of the labour federations briefing Parliament’s Public and Administration Committee on the impact of the Steinhoff scandal on the Government Employees Pension Fund.

Fedusa general-secretary Dennis George says the Independent Regulatory Board of Auditors should have been the pension fund’s first line of defence against the alleged accounting fraud at Steinhoff.

“Because they audit the books, this is a listed company. So were these people conniving or collaborating with the group of people in Steinhoff.”

“I have also phoned the new chairperson of Steinhoff, Heather Sonn, about the relationships between the different directors of this company and they were telling us all of them were auditors.”

“So instead of looking out to the interests of the shareholders which is the government employees’ pension fund, they did nothing. They never even warned them about that.”

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