KPMG, a prestigious auditing firm globally, has been under scrutiny for its decision to conduct a special audit of a controversial contract between SML and the Ghana Revenue Authority (GRA). Critics from IMANI-Ghana, ACEP, and the Fourth Estate have raised concerns about the feasibility of completing the audit within the given two-week timeframe, KPMG’s independence due to multiple public sector engagements, and the narrow scope of the audit’s terms of reference.
Despite these criticisms, KPMG’s expertise and professionalism should not be underestimated. The firm has a pool of experienced professionals capable of executing the assignment on time and to a high standard. Moreover, KPMG can negotiate for an extension if needed to ensure a thorough and comprehensive audit.
Regarding independence concerns, KPMG can maintain its objectivity by implementing safeguards, such as assigning an independent team for the audit. By doing so, they can mitigate any conflicts of interest that may arise from their other government contracts.
In terms of the audit’s scope, collaboration between KPMG and the assignor of the contract is crucial to ensure all relevant aspects, like procurement procedures, are covered. By proposing to expand the scope based on preliminary findings, KPMG can conduct a more thorough and credible audit.
In summary, KPMG’s decision to accept the special audit engagement demonstrates their commitment to professionalism and integrity. Despite the challenges and criticisms, the firm’s track record of public sector audits speaks to their capability to carry out this assignment effectively.
