SML paid ¢1bn since 2018 – KPMG audit report reveals
Following an extensive audit conducted by KPMG, it has been revealed that Strategic Mobilisation Ghana Limited (SML) received a total of GH¢1,061,054,778 from 2018 to the present for its services in revenue mobilisation.
The findings were disclosed in a press statement issued by Eugene Arhin, the Communications Director of the Presidency, on Wednesday, April 24.
President Nana Addo Dankwa Akufo-Addo initiated the audit of the contract between the Ghana Revenue Authority (GRA) and SML on January 2, 2024.
Originally scheduled to conclude by January 16, 2024, the audit period was extended to February 23, 2024, due to its complexity.
Upon completion of the report, public demand for its release increased, prompting the president to make the findings public.
According to the April 24 statement from the Presidency, "the total fees paid under the contracts from 2018 to the date of suspension amount to GH¢1,061,054,778. No fee has been paid for the upstream petroleum audit and minerals audit services."
Additionally, it mentioned that "the total fees estimated to be paid to SML under the 2023 Contract for five years is GH¢5,173,091,857, which averages to about GH¢1 billion per year."
Subsequently, President Akufo-Addo endorsed the recommendation to terminate the upstream petroleum and minerals audit services previously provided to the GRA by Strategic Management Limited (SML).
He directed the GRA and the Ministry of Finance to enter renegotiations concerning the contract.
Source: classfmonline.com
Trending News
Chiefs not obliged to rise up and greet during visits: Prof Atubuga
14:13Ejisu by-election: EC withdraws 2 officials captured on video receiving alleged bribe
15:01'Borla' BVDs: 'Why would anyone want to buy 10 used biometric devices 'hard-coded' for electoral purposes?' – IMANI says EC claims 'lies, half-truths, fantasies'
01:29Accra ‘dumsor’ due to flooding of substations – ECG
10:55EC withdraws 2 officials allegedly bribed during Ejisu polls
15:092024 polls: Bawumia dares Mahama to two-man debate as he starts countrywide tour
01:222024 polls: ‘Something good can come out of Walewale’ – Bawumia
10:57NACOC intercepts 20.5KG worth of cannabis
14:26Prof. Dr Grace Ayensu-Danquah, the high-achiever fighting for the welfare of women and children
01:15Study on climate change and health vulnerabilities released
13:16