RecordLens
Menu

Claim review. Accounting

Supported

The cited record supports the material proposition.

Steinhoff said in December 2017 that new information had come to light relating to accounting irregularities requiring further investigation.

new information has come to light today which relates to accounting irregularities
About
Steinhoff International Holdings N.V.
Claim made by
Steinhoff International Holdings N.V., company statement
Published
6 December 2017
Original
Steinhoff accounting irregularities trigger share crash, CEO exit
Evidence score
85 How it was scored
Last reviewed
25 October 2026

Why this label

Reuters quoted the company's own late statement of 5 December 2017 on accounting irregularities and an independent PwC investigationS1. The later record supports the existence of the irregularities. The FSCA found in September 2019 that the group made false, misleading or deceptive statements before the irregularities came to lightS2. In Germany the Oldenburg court convicted two former managing directors of a subsidiary of false balance sheet presentation in August 2023S4. The PwC forensic summary of March 2019 could not be opened for this review, so its figures are not relied on here.

Current procedural position

FSCA administrative penalty imposed 16 September 2019S2. Oldenburg convictions of 21 August 2023 not final at that dateS4. Company liquidated 13 October 2023S5.

Record supporting the assessment

the Steinhoff Group made false, misleading or deceptive statements, promises or forecasts
S2 Tier A Financial Sector Conduct Authority (republished by FAnews), The FSCA fines Steinhoff International Holdings N.V. (Steinhoff/the Company) for contravention of the Financial Markets Act, 16 September 2019
new information has come to light today which relates to accounting irregularities
S1 Tier C Reuters, TJ Strydom (published by Business Standard), Steinhoff accounting irregularities trigger share crash, CEO exit, 6 December 2017

Conflicting or limiting record

No record located that conflicts with this assessment.

Evidence score: 85 of 100

The score grades how well the record establishes this assessment. It is not a score of Steinhoff International Holdings N.V.. Score = source authority + directness + corroboration + procedural accuracy + currency + reproducibility.

ComponentPointsMaxReason
Source authorityIs the source competent to establish the proposition?2730A regulator finding and a criminal verdict are competent on the point.
DirectnessDoes the source state the proposition or only discuss adjacent facts?1720The FSCA states the false statements directly.
CorroborationDo independent records support the same material point?1315South African and German records agree.
Procedural accuracyDoes the record settle the procedural state the claim describes?1115The FSCA penalty is settled but the German verdict was not final when reported.
CurrencyHas the record been checked against later developments?910Checked against an August 2026 review of FSCA cases.
ReproducibilityCan a reader locate the passage and repeat the assessment?810The FSCA text is reproduced on a trade site and the Reuters text is public.
Total85100

Timeline

  1. Steinhoff discloses accounting irregularities and the CEO resignsS1.
  2. FSCA imposes R1.5 billion penalty, remitted to R53 millionS2.
  3. Oldenburg court convicts two former subsidiary managing directorsS4.

Related cases

  • FSCA v. Steinhoff International Holdings N.V.Financial Sector Conduct Authority (South Africa). Regulatory. Not published.Stage: Penalty imposed, remitted and paid
    • R1.5 billion penalty imposed and remitted to R53 millionS2.

Revision history

  • Assessment first published with label Supported.

Have a record that changes this assessment? See corrections and responses.

Sources

  1. S2Tier A The FSCA fines Steinhoff International Holdings N.V. (Steinhoff/the Company) for contravention of the Financial Markets ActFinancial Sector Conduct Authority (republished by FAnews). Regulator press release. 16 September 2019.Regulator finding of false or misleading statements and the R1.5 billion penalty remitted to R53 million. Read as republished by FAnews. Searches of the FSCA site did not surface the original.Link working, checked 25 October 2026
  2. S1Tier C Steinhoff accounting irregularities trigger share crash, CEO exitReuters, TJ Strydom (published by Business Standard). Press report. 6 December 2017.Quotes the company's December 2017 disclosure and reports the share fall. It does not establish what the irregularities were.Link working, checked 25 October 2026
  3. S4Tier C ROUNDUP: Zwei Ex-Manager nach Steinhoff-Bilanzskandal verurteiltdpa-AFX (published by boerse-online). Press report. 21 August 2023.Reports the Oldenburg convictions and that they were not final. It does not report any later appeal.Link working, checked 25 October 2026
  4. S5Tier B EQS-News: Steinhoff International Holdings N.V. in liquidatie: CONFIRMATION OF LIQUIDATIONSteinhoff International Holdings N.V. in liquidatie (EQS release published by boerse.de). Company statement. 13 October 2023.Liquidators confirm the company and its shares ceased to exist. It does not give exact delisting dates.

Other claims about Steinhoff International Holdings N.V.