Strategic Mobilisation Ghana Ltd (SML) has rejected claims by auditing firm, KPMG that it partially delivered on several requirements regarding SML’s Transaction Audit Service Agreement.
The assertions of KPMG was contained in an audit report sent to the president.
In response to KPMG’s findings, SML stressed that it delivered fully on its obligations outlined in the contract.
“SML’s productive performance was the basis for subsequent recommendation and awarding of the downstream petroleum audit contract”.
Providing some proof, SML pointed out that KPMG confirmed that due to the implementation of the downstream petroleum audit agreement, there were qualitative benefits, including “a 24/7 electronic real-time monitoring of the outflow and partial monitoring of inflows of petroleum products at depots where SML had installed flow meters”.
“KPMG also confirmed that other important benefits from the SML technology, including a deterrent for under-declarations and several levels of reconciliation and validation, prevented revenue losses to GRA”, it added.
Providing some details, SML explained that the Transaction Audit contract includes provisions for monitoring and evaluation services as well as value for money assessment, both of which were diligently adhered to by the Ghana Revenue Authority (GRA) and SML.
According to the company, it observed that KPMG said it made some findings regarding the External Price Verification Services which suggested that ICUMS had the abilities to deliver in some areas of the contract adequately delivered by SML.
“SML rejects KPMG’s observation that ICUMS has inbuilt capabilities for External Price Verification”, it said.
SML emphasized that it is an independent assurance audit firm contracted to audit ICUMS, assess the customs at Customs Technical Service Bureau on classification and valuation, and audit the values accordingly.
“ICUMS cannot audit its operations. SML services provide extra oversight when it comes to classification and valuation”, the company clarified.
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