SML counters KPMG: Denies GH¢1bn payment claim, citing inaccuracy

April 25, 2024 5:20 PM

Strategic Mobilisation Ghana Ltd (SML) has vehemently refuted claims made by KPMG in their audit report, which alleged that SML received GH¢1,061,054,778 as compensation from the Ghana Revenue Authority (GRA).

SML touts ethical standards amidst KPMG audit scrutiny.

According to SML, this figure fails to acknowledge the investments made by the company and the taxes paid during the contract period.

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"SML finds the compensation figure cited by KPMG inaccurate as it overlooks our investments and taxes paid," stated an SML representative.

Moreover, SML pointed out that KPMG's report omitted crucial details, including GRA taxes amounting to 31.5% deducted from the compensation. This omission, according to SML, distorts the financial reality of the situation.

Furthermore, SML clarified that KPMG's audit assurance report confirmed that the company had not received a $100 million payment from the government, refuting claims made in The Fourth Estate film.

In response to the allegations raised by The Fourth Estate film, SML clarified that its contract was not for 10 years and denied receiving annual payments of $100 million.

The company also expressed relief that the KPMG report supported their stance.

In a press statement issued on Thursday, April 25, SML reaffirmed its commitment to upholding ethical standards and contributing to Ghana's development.