Stream Original TV and Radio Live

President Akufo-Addo Tasks KPMG To Audit SML, GRA Contract

Director of Communications at Jubilee House, Mr. Eugene Arhin, released a press release announcing that President Nana Akufo-Addo had suspended the SML/GRA Contract’s performance and ordered an audit into it.

A statement released on Tuesday, January 2, 2024, stated , “The president has appointed KPMG, the reputable audit, tax and advisory services firm, to conduct an immediate audit into the transaction between the GRA and Strategic Mobilisation Ghana Limited (SML), a contract which was entered into to enhance revenue assurance in the downstream petroleum sector, the upstream petroleum production and minerals and metals resources value chain”.

The audit’s terms of reference are as follows:

1. Conduct an audit to ascertain the rational or needs assessment performed prior to the contract approval by GRA and assess how the arrangement aligns with specific needs;

2. 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;

3. Evaluate the degree of alignment between current activities and the stipulated contract scope identifying any deviations;

4. Evaluate the value or benefit that SML has so far offered to GRA through this engagement;

5. Review the financial agreement, including pricing structures, payment terms, and resolution of any financial compliance issues;

6. And submit a report on your findings on the above, together with appropriate recommendations.