15 March 2019
OVERVIEW OF FORENSIC INVESTIGATION
The Supervisory Board and the Management Board (together, the “Boards”) of Steinhoff International Holdings N.V. (“SIHNV”) have now received a report prepared by PricewaterhouseCoopers Advisory Service Proprietary Limited (“PwC”) setting out their findings following the investigation initiated at the request of the Supervisory Board in December 2017 on the instructions of Werksmans Attorneys (“PwC Report” or “Report”).
2. Scope of the PwC Investigation
PwC was asked to assist with an investigation into the occurrence of potential accounting irregularities, or potential non-compliance with laws and regulations impacting on Steinhoff’s financial statements.
The PwC investigation team’s principal interaction with SIHNV was through a special committee of the Boards being Louis du Preez, Peter Wakkie and Moira Moses assisted by Alexandra Watson and the Supervisory Board nominee director Paul Copley following his nomination in August 2018.
PwC has confirmed that it considers itself to be independent of the Group and that it has not been influenced or restricted by the Group in terms of access to information to undertake its investigation or in the writing of the report. The scope of the PwC Report is consistent with the investigation plans discussed with and approved by the Supervisory Board.