The Executive Director of the Africa Centre for Energy Policy (ACEP) has raised red flags, citing a conflict of interest over President Akufo-Addo’s appointment of KPMG to audit a contract between the Ghana Revenue Authority (GRA) and Strategic Mobilisation Limited (SML).
The Executive Director of ACEP, Benjamin Boakye, believes it would be highly unethical for KPMG to accept the job because the firm is a service provider for the GRA.
“KPMG has its integrity at stake if it accepts this job. It is a client of GRA, and its investigation against the leaders of one of its LARGE portfolios is exceedingly suspicious. Simply unethical,” Benjamin Boakye wrote on his official page on microblogging platform X, formerly known as Twitter.
On January 2, 2024, President Akufo-Addo ordered the immediate suspension of the revenue assurance contract signed between GRA and SML.
President Akufo-Addo appointed the audit, tax, and advisory services firm, KPMG, to conduct an immediate audit of the transaction after calls by the Minority in Parliament to suspend the contract.
Background
The President’s directive comes after an investigation by The Fourth Estate revealed that SML had been awarded contracts that entitle the company to more than $100 million yearly.
The company admitted it was not performing the advertised services that claimed to tackle under-reporting, diversion and dilution when confronted with evidence. It has since deleted those claims from its website.
The Managing Director of SML, Christian Tetteh Sottie, also admitted that the company’s claim that its services had saved Ghana GHS3 billion was false.
The directive reflects a commitment to ensuring transparency and accountability in executing the GRA’s contractual agreement with SML.
