Scopa to summon Steinhoff executives next year

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Parliament’s Standing Committee on Public Accounts (Scopa) now says it will only call the executives of retail giant Steinhoff early in the new year.

Parliament is currently on recess.

Scopa chairperson Themba Godi has also called on the South African Revenue Service, the Reserve Bank, and the Independent Regulatory Body for Auditors and the Financial Services Board to urgently investigate Steinhoff.

Shares in Steinhoff fell by as much as 80% after the company reveal accounting irregularities.

The share price started to recover Monday after R200-billion was wiped off the company’s market value.

Steinhoff is the parent company of retailers such as Ackermans, Shoprite, Incredible Connections and PEP.