Audit of GRA-SML deal: Drop this assignment – Bright Simons tells KPMG

Vice President of think-thank IMANI Centre for Policy and Education, Bright Simons has advised the Audit, Tax, and Advisory Services firm, KPMG to reject President Akufo-Addo’s contract to conduct an immediate audit of the GRA-SML deal.

President Akufo-Addo, on January 2, 2024, ordered the immediate suspension of the revenue assurance contract signed between Ghana Revenue Authority and Strategic Mobilization Limited.

A statement issued and signed by the Director of Communications at the Presidency, Eugene Arhin said, “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 Mobilizations 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”.

However, Bright Simons in a post on X urged the audit firm to stay away from the controversial deal which he describes as a “hot political potato right now.”

“KPMG’s practice oversight bosses should prudently preserve the firms reputation & drop this assignment. This issue is a hot political potato right now. The nature of the allegation requires an In-depth look by state bodies with the right powers & independence. KPMG has neither.”

Meanwhile, President Akufo-Addo wants the audit done within two weeks.