NEWS & ANALYSIS

Steinhoff: Call for accountability – Scopa

Committee says SA’s reputation is in the gutter because of political and corporate corruption

SCOPA calls for accountability in Steinhoff corruption scandal  

11 December 2017

The Standing Committee on Public Accounts (Scopa) has called for accountability in the Steinhoff corruption scandal and for urgent, firm and decisive action to deal with the wrong-doers.

This crass greediness of senior executives in the private sector is an indicator of the pervasiveness of immoral conduct among South Africa’s elite. Parliament cannot be a spectator in this unfolding drama, as the laws of the country, ethical conduct and workers’ pensions go down the drain because of the recklessness and corruption of the super-rich.

The Chairperson of Scopa, Mr Themba Godi, would like to see the Standing Committee on Finance and Scopa taking up the matter and seeking accountability from Steinhoff and the Public Investment Corporation (PIC). Mr Godi calls on the National Treasury to be more strident in its condemnation of the scandal than it has been thus far. The South African Revenue Service (SARS), the South African Reserve Bank (SARB), the Independent Regulatory Body for Auditors (IRBA, even though this body is ineffective) and the Financial Services Board (FSB) must urgently investigate.

The Directorate of Priority Crime Investigation (the Hawks) has a duty to charge all those involved. Corruption, whether perpetrated by the rich or the poor, must be condemned and the perpetrators sent to jail.

Scopa plans to look into the matter and call the executives of Steinhoff, the PIC, the Hawks, SARS, SARB and IRBA to account to Parliament early in the new year.

South Africa’s reputation is in the gutter because of political and corporate corruption. All progressive and patriotic South Africans must put a stop to these acts.

Issued by Faith Ndenze, Parliamentary Communication Services, 11 December 2017