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That is because there's an act that regulates auditors
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Steinheist

That is because there's anact that regulates auditors

That is because there's an
act that regulates auditors

Full Transcript

00:00:01.000 --> 00:00:04.399
That is because there's an act that regulates auditors.
Duration
4 seconds
Views
19
Timestamp in Movie
00:50:48
Uploaded
Apr 30, 2025
Season
1
Episode
3
Genres
documentary, crime
Production
IdeaCandy

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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 • 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,
S01 • E01 We highlighted a significant number of transaction - Steinheist 00:07
We highlighted a significant number of transaction
S01 • E03 But it was in the shareholders' interest to some extent that... - Steinheist 00:05
But it was in the shareholders' interest to some extent...