The Management of Strategic Mobilisation Ghana Ltd. (SML) has welcomed the suspension of the contract it has with the Ghana Revenue Authority and the Ministry of Finance.
The company said the directive by President Nana Addo Dankwa Akufo-Addo, to suspend the revenue assurance contract for audit by accounting firm, KPMG will prove how transparent the agreement is.
“We welcome the directive and the decision to appoint KPMG to conduct an immediate audit of the contract. SML awaits the results of the audit, as it will help establish a clear and accurate picture of our operations. We hope that the report’s findings will be made public, allowing for transparency and accountability, “ the Management said in a press release dated January 3.
SML Management expressed confidence that the audit will vindicate them.
“We remain resolute in upholding the highest business standards and welcome the scrutiny that this audit would bring. We are confident that the findings will confirm the integrity of our collaboration with GRA and the Ministry of Finance and provide ample evidence of the value we provide citizens.”
It would be recalled that President Akufo-Addo ordered the suspension and audit of the contract which has generated huge public debate following the expose by The Fourth Estate.
He subsequently appointed accounting and auditing firm, KPMG to audit the contract.
The President tasked KPMG to complete the audit in two weeks.
This was contained in a press statement issued by the Director of Communications at the Presidency Eugene Arhin on Tuesday, January 2.
“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,” portions of the statement said.
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.”
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“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.
