To watch in HD, get ClipCafe PRO
Audit committee members, board members... You can take away their designations
Please log in to add to collections.
Steinheist

Audit committee members, board members...You can take away their designations, but you...

Audit committee members, board members...
You can take away their designations, but you can't stop them from
carrying on and doing the same work, whereas an auditor's
license can be withdrawn

Full Transcript

00:00:01.000 --> 00:00:04.064
Audit committee members, board members... You can take away their designations,
00:00:04.641 --> 00:00:07.056
but you can't stop them from carrying on and doing the same work,
00:00:07.561 --> 00:00:10.064
whereas an auditor's license can be withdrawn.
Duration
11 seconds
Views
26
Timestamp in Movie
00:50:38
Uploaded
Apr 30, 2025
Season
1
Episode
3
Genres
documentary, crime
Production
IdeaCandy

Want This Clip in HD?

Upgrade for HD/4K downloads and unlimited access. Upgrade now →

Movie Summary

The biggest corporate scandal in South African history, the fall of Steinhoff led to a loss of R200 billion. Steinheist untangles the story: the investors who were taken in; the victims and the CEO, Markus Jooste, who's still a fr...
S01 • E01 I think it's important to emphasise that if it were just one big issue, - Steinheist 00:10
I think it's important to emphasise that if it were jus...
S01 • E03 That is because there's an act that regulates auditors. - Steinheist 00:04
That is because there's an act that regulates auditors.
S01 • E02 And over that weekend, I then communicated with PWC - Steinheist 00:13
And over that weekend, I then communicated with PWC
S01 • E03 The other portions of the financial reporting chain, or the ecosystem, - Steinheist 00:06
The other portions of the financial reporting chain, or the ...
S01 • E01 There were a number of issues. Some of them were red flags. - Steinheist 00:11
There were a number of issues. Some of them were red flags.
S01 • E03 All those role players should be subject to regulation. - Steinheist 00:13
All those role players should be subject to regulation.
S01 • E01 But you had to put all of these together in order to come to the view, - Steinheist 00:11
But you had to put all of these together in order to come to...
S01 • E02 He comes back on the Monday. He says to Christo Wiese, - Steinheist 00:06
He comes back on the Monday. He says to Christo Wiese,
S01 • E01 A lot of these analysts sit inside investment banks - Steinheist 00:14
A lot of these analysts sit inside investment banks
S01 • E02 I'm just gonna go home and have a shower." - Steinheist 00:07
I'm just gonna go home and have a shower."
S01 • E01 And in the case of Steinhoff, - Steinheist 00:06
And in the case of Steinhoff,
S01 • E03 I think everyone in the end ended up in a good position, not ideal. - Steinheist 00:07
I think everyone in the end ended up in a good position, not...
S01 • E03 And that's probably the hallmarks of any settlement, ultimately. - Steinheist 00:06
And that's probably the hallmarks of any settlement, ul...
S01 • E02 Steve Booysen gets a message from Markus Jooste, in Afrikaans, saying, - Steinheist 00:10
Steve Booysen gets a message from Markus Jooste, in Afrikaan...
S01 • E01 I highlighted six or seven key issues. - Steinheist 00:15
I highlighted six or seven key issues.
S01 • E03 Everyone is a little bit frustrated, - Steinheist 00:07
Everyone is a little bit frustrated,
S01 • E02 And he thinks, "Oh no, Markus only ever communicated with me in Afrikaans." - Steinheist 00:07
And he thinks, "Oh no, Markus only ever communicated wi...
S01 • E02 And he realizes that there might actually be veracity in the claims that - Steinheist 00:09
And he realizes that there might actually be veracity in the...
S01 • E01 But the debt is still there and you still owe the money - Steinheist 00:07
But the debt is still there and you still owe the money
S01 • E03 The settlement was... Relative to the damage that was done, - Steinheist 00:09
The settlement was... Relative to the damage that was done,