Another one bites the dust

“Steinhoff’s CEO Resigns Amid Accounting Probe,” The Wall Street Journal December 7, 2017 B3.  Off-balance sheet accounting leads to resignation of CEO of parent company of Sleepy’s (a mattress brand), and a drop of 62% in share value.

Where was the Board?  Where were the auditors?  Trying out the company product?

Who pays the price of management’s failure?

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Filed under Accuracy, Compliance, Compliance, Compliance Verification, Controls, Corporation, Culture, Duty, Employees, Governance, Information, Internal controls, Oversight, Oversight, To report, Value

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