Akufo-Addo studying KPMG report on GRA-SML deal – Presidency

The Director of Communications at the Jubilee House, Eugene Arhin has said that President Nana Addo Dankwa Akufo-Addo, on Wednesday, 27th March 2024, received from KPMG its report on the audit conducted on the transactions between the Ghana Revenue Authority (GRA) and Strategic Mobilisation Ghana Ltd (SML).

He said the president is studying the findings of the audit report, and will, in due course, make his decisions known to the Ghanaian people.

In a post on his Facebook page, Mr Arihin said “The President of the Republic, Nana Addo Dankwa Akufo-Addo, on Wednesday, 27th March 2024, received from KPMG its report on the audit conducted, at the behest of the President, on the transactions between the Ghana Revenue Authority (GRA) and Strategic Mobilisation Ghana Ltd (SML). President Akufo-Addo is studying the findings of the audit report, and will, in due course, make his decisions known to the Ghanaian people.

“It will be recalled that on 2nd January 2024, the President appointed KPMG to audit the contracts entered into between GRA and SML, and subsequently directed the Ministry of Finance and GRA to suspend the performance of the contracts, pending the submission of the audit report, including any payments presently envisaged under their terms.”

President Akufo-Addo had ordered the suspension of the SML deal and further appointed accounting and auditing firm, KPMG to audit the contract.

A press statement issued by the Director of Communications at the Presidency Eugene Arhin on Tuesday, January 2 said “The President has also tasked the Ministry of Finance and GRA to provide KPMG  with whatever assistance they will require for the conduct of the audit.”

The Terms of Reference of the audit were: “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 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.