In a terse media statement on 20 June, Deloitte reiterated its stance that it ‘did not agree with the SENS issued by Sygnia’. The company had said it terminated its relationship with Deloitte as auditor citing ‘reputational risk’ earlier this month.

Deloitte says it has, following a request from the Johannesburg Stock Exchange (JSE), submitted its reasons for its disagreement with Sygnia to the JSE and had also confirmed to the exchange ‘that we informed Sygnia on 31 May 2019 of our intentions to resign as auditors. At that stage we had not received any communication from Sygnia on their intention to replace us as auditors’.

Previously Deloitte had raised concerns over what it termed ‘certain factual inaccuracies’ relating to the circumstances of its resignation, adding: “Whilst as Deloitte we main the highest standards of ethical behaviour and client confidentiality, we are of the view that it is prudent in this instance to set the record straight.”