Strategic Mobilization Ghana Ltd (SML) has refuted claims that it received GH¢1,061,054,778 as consideration for a contract with the Ghana Revenue Authority (GRA), as stated in the KPMG audit report.
In response to the findings, SML stressed that the figures presented by KPMG do not take into account investments made by SML and taxes paid during the period under investigation.
“KPMG quotes a figure for remuneration to SML. Interestingly, this figure is quoted without taking into account investments made during the period within the consolidation agreement or taxes paid by SML. That’s true.
“The compensation stated by KPMG of GH¢1,061,054,778.00 is inaccurate,” SML said.
Furthermore, SML highlighted that KPMG’s report did not include 31.5 per cent of total remuneration deducted as GRA tax, creating a distorted perception of the relevant financial position.
“SML claims that the failure to list the 31.5% GRA tax collected by KPMG before payment, the 32% interest and repayment of the investment by SML, and other taxes/duties during the period is the “We find that it gives a very unbalanced impression of the relationship. This omission is highly misleading,” SML said.
SML also revealed that an audit and assurance report by KPMG confirmed that it had not received a payment of $100 million from the government.
Fourth Estate had maintained that SML’s contract was for 10 years. The media house claimed that the company received contracts worth more than $100 million.
However, the company said the KPMG report exonerated its position following the revelations by The Fourth Estate.
In a press statement issued on Thursday, April 25, SML reaffirmed its commitment to contributing to Ghana’s development by adhering to ethically acceptable standards and maintaining the quality of its work.
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