Our accountant has not blown GHC1.5bn - TOR

The Management of Tema Oil Refinery (TOR) has refuted media reports suggesting that an Accountant at TOR has caused the state to lose GHC1.5bn in 2015.

According to TOR, the publication which appeared on page 16 of the Wednesday 13th December, 2017 edition of the Ghanaian Times under the headline; ‘Lack of monthly bank reconciliation cost TOR GHC1.5bn in 2015 is unfounded.

In the view of TOR, the Accountant whose negligence allegedly caused the state to lose GHC 1.5bn is rather working with the Outfit of the Customs Division of the Ghana Revenue Authority (GRA), which is located within the Tema Oil Refinery.

“The 2016 Auditor General’s Report which happens to be the source of the story in the Ghanaian Times which was also published on Ghanaweb.com and Peacefmonline.com wrongfully refers to an ‘Accountant of TOR’ instead of an ‘Accountant of the Tema Oil Refinery based Customs Outfit/Division’ which happened to be the subject of an Auditor General investigation into the collection of taxes by the Customs Division located on TOR premises,” a statement issued by the Public Affairs Manager for Tema Oil Refinery, Dr. Kingsley Antwi-Boasiako clarified.

Dr. Kingsley Bosiako totally denied any wrongdoing on the part of the Accountant of TOR, stressing that, “The Auditor General’s investigation was about the activities of the Customs Outfit which serves as the only collection point of Petroleum revenues from the BDCs and the OMCs.”

He explained that the erroneous statements made about TOR in the story, and attributed to the 2016 Auditor General’s Report prompted his office to seek clarification from the Auditor General’s Department.

He stated that in an interaction with the Deputy Auditor-General at the Central Government Audit Department, Mr. George S. Winful, he admitted that an error had been made in the 2016 Audit report by referring to an ‘Accountant of TOR’ instead of an ‘Accountant at the Tema Oil Refinery Customs Outfit.’

He referred to the heading on Page 34, paragraph number 96 of the 2016 Auditor General’s Report which reads: “GHANA REVENUE AUTHORITY-CUSTOMS DIVISION-TEMA OIL REFINERY COLLECTION- Unsubstantiated debits to the petroleum account GHc1, 561,434,333.31’ and said this should have served as enough clue for the reporter to have known that the accountant in question is not that of TOR, but of the Customs Outfit located on the premises of TOR.

Dr. Antwi-Boasiako, who expressed disgust at the reporter for failing to abide by the canons of journalism, urged journalists to substantiate the veracity of information they come across, especially if it has to do with the reputation of organizations since such stories could negatively affect investment and other opportunities that companies seek.

“If the journalist had contacted TOR, he would have known that the two entities are completely independent of each other,” he said. “TOR is a State Owned Limited liability company which has KPMG, a private auditing firm as its auditors and not the Auditor … [17:32, 12/15/2017] Michael Afful Oman: Our Accountant hasn’t caused state to lose GHC 1.5bn-TOR

The Management of Tema Oil Refinery (TOR) has refuted media reports suggesting that an Accountant at TOR has caused the state to lose GHC1.5bn in 2015.

According to TOR, the publication which appeared on page 16 of the Wednesday 13th December, 2017 edition of the Ghanaian Times under the headline; ‘Lack of monthly bank reconciliation cost TOR GHC1.5bn in 2015 is unfounded.

In the view of TOR, the Accountant whose negligence allegedly caused the state to lose GHC 1.5bn is rather working with the Outfit of the Customs Division of the Ghana Revenue Authority (GRA), which is located within the Tema Oil Refinery.

“The 2016 Auditor General’s Report which happens to be the source of the story in the Ghanaian Times which was also published on Ghanaweb.com and Peacefmonline.com wrongfully refers to an ‘Accountant of TOR’ instead of an ‘Accountant of the Tema Oil Refinery based Customs Outfit/Division’ which happened to be the subject of an Auditor General investigation into the collection of taxes by the Customs Division located on TOR premises,” a statement issued by the Public Affairs Manager for Tema Oil Refinery, Dr. Kingsley Antwi-Boasiako clarified.

Dr. Kingsley Bosiako totally denied any wrongdoing on the part of the Accountant of TOR, stressing that, “The Auditor General’s investigation was about the activities of the Customs Outfit which serves as the only collection point of Petroleum revenues from the BDCs and the OMCs.”

He explained that the erroneous statements made about TOR in the story, and attributed to the 2016 Auditor General’s Report prompted his office to seek clarification from the Auditor General’s Department.

He stated that in an interaction with the Deputy Auditor-General at the Central Government Audit Department, Mr. George S. Winful, he admitted that an error had been made in the 2016 Audit report by referring to an ‘Accountant of TOR’ instead of an ‘Accountant at the Tema Oil Refinery Customs Outfit.’

He referred to the heading on Page 34, paragraph number 96 of the 2016 Auditor General’s Report which reads: “GHANA REVENUE AUTHORITY-CUSTOMS DIVISION-TEMA OIL REFINERY COLLECTION- Unsubstantiated debits to the petroleum account GHc1, 561,434,333.31’ and said this should have served as enough clue for the reporter to have known that the accountant in question is not that of TOR, but of the Customs Outfit located on the premises of TOR.

Dr. Antwi-Boasiako, who expressed disgust at the reporter for failing to abide by the canons of journalism, urged journalists to substantiate the veracity of information they come across, especially if it has to do with the reputation of organizations since such stories could negatively affect investment and other opportunities that companies seek.

“If the journalist had contacted TOR, he would have known that the two entities are completely independent of each other,” he said.

“TOR is a State Owned Limited liability company which has KPMG, a private auditing firm as its auditors and not the Auditor General as wrongly purported in the story. The Auditor General has never audited our accounts, we have no business with the Petroleum Revenue and we have no such account at the Bank of Ghana. ” Dr. Antwi-Boasiako stated.