An examination into the agreement between the Ghana Revenue Authority (GRA) and Strategic Mobilization Limited (SML) has been ordered by President Nana Addo Dankwa Akufo-Addo of Ghana.
To improve revenue assurance in the downstream petroleum sector, upstream petroleum production, and the value chain of minerals and metals resources, KPMG, an audit, tax, and advisory services business, has been assigned to perform an audit of the transaction.
The terms of reference for the audit are as follows, according to a news release dated January 2, 2024, signed by Eugene Arhin, the Director of Communication at the Presidency:
“i. conduct an audit to ascertain the rationale or needs assessment performed before 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 press release added that “President Akufo-Addo has tasked KPMG to complete the assignment in two weeks.”
