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Steinhoff Update: Second shoe drops – 2016 financials “cannot be relied upon”
Steinhoff has informed shareholders that accounting irregularities go back further than the 2017 financial statements. Therefore, the 2016 financials should be disregarded.
Thursday 14 December 2017 from Steinhoff International
- The group has informed shareholders that accounting irregularities go back further than the 2017 financial statements. As a result, the audited results for the year to end September 2016 "will need to be restated and can no longer be relied upon."Â
A Steinhoff International Holdings NV logo sits on display outside the company's offices in Stellenbosch. Photographer: Waldo Swiegers/Bloomberg
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