President Nana Addo Dankwa Akufo-Addo, has ordered an audit into the
contract between the Ghana Revenue Authority (GRA) and Strategic
Mobilisation Limited (SML).
Accordingly, KPMG, an Audit, Tax and Advisory Services firm, has been
appointed to conduct an audit into the transaction, which was entered
into to enhance revenue assurance in the downstream petroleum sector,
the upstream petroleum production and minerals and metals resources
value chain.
A press release dated January 2 and signed by the Director of
Communication at the Presidency, Eugene Arhin stated that the Terms of
Reference of the audit are as follows: “i. conduct an audit to ascertain
the rationale or needs assessment performed prior to the contract
approval by GRA, and assess how the arrangement aligns with specific
needs; ii. assess the appropriateness of the contracting methodology,
verifying compliance with legal standards and industry best practices in
the procurement process for the selection of SML;
iii. evaluate the degree of alignment between current activities and
the stipulated contract scope, identifying any deviations; iv. evaluate
the value or benefit that SML has so far offered to the GRA through this
engagement; v. review the financial arrangements, including pricing
structures, payment terms and resolution of any financial compliance
issues; and vi. submit a report on your findings on the above, together
with appropriate recommendations.”
The press release added that, “President Akufo-Addo has tasked KPMG to complete the assignment in two weeks.”
“The President has directed the Ministry of Finance and GRA to
provide KPMG with whatever assistance they will require for conduct of
the audit, and has also directed the Ministry of Finance and the Ghana
Revenue Authority to suspend the performance of the contract, pending
the submission of the audit report, including any payments presently
envisaged under its terms,” the statement concluded.
