President Akufo-Addo Orders Audit into SML/GRA Contract.

The contract, aimed at bolstering revenue assurance in the petroleum sector, is under scrutiny for its approval process and performance.

The reputable firm, KPMG, known for its expertise in Audit, Tax, and Advisory Services, has been appointed to conduct the comprehensive audit.

The Terms of Reference include assessing the needs assessment performed prior to contract approval, evaluating the contracting methodology’s compliance with legal standards, and examining the alignment between current activities and the stipulated contract scope.

President Akufo-Addo has set a two-week deadline for KPMG to complete the assignment and submit recommendations.

Additionally, the President has directed the Ministry of Finance and GRA to provide full assistance to KPMG in conducting the audit.

To ensure a thorough investigation, the President has instructed the Ministry of Finance and the Ghana Revenue Authority to suspend the performance of the contract until the audit report is submitted. This includes the suspension of any payments envisaged under the contract’s terms.