Strategic Mobilization Ghana Ltd (SML) has strongly contested 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). According to SML, this figure fails to accurately represent the investments made by the company and the taxes paid during the contract period.
An SML representative emphasized, “SML finds the compensation figure cited by KPMG inaccurate as it overlooks our investments and taxes paid.” Additionally, SML pointed out that KPMG’s report omitted crucial details, including GRA taxes amounting to 31.5% deducted from the compensation, thereby distorting 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. Responding to allegations raised by the film, SML clarified that its contract was not for 10 years and denied receiving annual payments of $100 million.
In a press statement issued on Thursday, April 25, SML reaffirmed its commitment to upholding ethical standards and contributing to Ghana’s development. The company expressed relief that the KPMG report supported their stance and highlighted their dedication to transparency and accountability in all business dealings.
As the controversy surrounding the compensation figure and contract terms continues, stakeholders will be closely monitoring developments to ensure that the interests of all parties involved are properly addressed and clarified.
