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 Business
Ghana.gov bags ₵201bn so far – Bawumia says, ‘It would’ve ended up in private pockets’ in the past
11:54Make my one-year stay in office ‘memorable’ – Fin. Min. begs GRA
11:24Gov't bags ¢5bn from T-bills auction
09:21World’s top coffee, soy and sugar supplier Brazil wants to rule cocoa, too
09:18Maxwell Opoku-Afari speaks on Ghana's economic evolution and digital future
06:00Turning trash into treasure: Volta Region welcomes state-of-the-art recycling facility by Zoomlion
06:21I once sold pure water - Sammi Awuku reveals
06:06Société Générale Group initiates 'strategic review' Société Générale Ghana
10:17Collapsed GIHOC was a thriving business under my tenure: Mahama
08:57GRA says e-VAT piloting has boosted revenue by ¢124m
15:02