GRA terminates 2 SML contracts

The Ghana Revenue Authority (GRA) in compliance with the recent directives given by President Akufo-Addo on its deal with Strategic Mobilization Ghana Limited (SML), has terminated the transaction Audit and External Verification Service Contract (AEVS) with SML.

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“This is about the presidential directives dated 18 April 2024 on the recommendations of KPMG concerning the Contract for Consolidation of Revenue Assurance Services between the Government of Ghana acting per the Ministry of Finance, Ghana Revenue Authority (GRA) and Strategic Mobilisation Ghana Limited (SML).

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“Following the directives of the President, GRA has undertaken a thorough review of the Consolidation of Services (Transaction Audit and External Verification Services) contract dated 3 October 2019, the Measurement Audit for Downstream Petroleum Products Contract dated 3 October 2019, and the Contract for Consolidation of Revenue Assurance Services (Upstream and Minerals Audit) contract dated 25 October 2023,” the GRA letter read.

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President Akufo-Addo on 2nd January 2024, appointed and tasked KPMG, a leading audit, tax, and advisory services firm, to conduct an immediate audit of the transaction between the Ghana Revenue Authority (GRA) and Strategic Mobilization Ghana Ltd (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.

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The President also directed the Ministry of Finance and GRA to provide KPMG with whatever assistance they will require for the conduct of the audit and has also directed the Ministry of Finance and the Ghana Revenue Authority to suspend the performance of the contract, pending the submission of the audit report, including any payments presently envisaged under its terms,” the Jubilee House statement further read.

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“Following the directives of the President, GRA has undertaken a thorough review of the Consolidation of Services (Transaction Audit and External Verification Services) contract dated 3 October 2019, the Measurement Audit for Downstream Petroleum Products Contract dated 3 October 2019, and the Contract for Consolidation of Revenue Assurance Services (Upstream and Minerals Audit) contract dated 25 October 2023,” the GRA letter read.

President Akufo-Addo on 2nd January 2024, appointed and tasked KPMG, a leading audit, tax, and advisory services firm, to conduct an immediate audit of the transaction between the Ghana Revenue Authority (GRA) and Strategic Mobilization Ghana Ltd (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.