RE: KPMG sacks Bank of Ghana’s Reciever

Audit and business advisory firm, KPMG, has denied reports by some media outlets that its former Senior Country Partner, Nii Amanor Dodoo, who was appointed by the central bank as receiver for some five collapsed banks has been fired from his job.

A statement issued by the firm said its attention has been drawn to a publication carried on the front page of the Herald Newspaper on the Friday, 1 November 2019 to Sunday 2 November 2019 edition and subsequently published by Ghanaweb and other news platforms.

The firm strongly refutes the claims made in the publication about KPMG and its relationship with Nii Amanor Dodoo. The firm categorically states its position on the claims as follows:

• The firm is not aware of any unethical matter or irregularity that has been committed in the performance of the receivership assignment.

• The firm, for many years, has maintained a retirement age of 65 years for Partners, with an option for early retirement. Nii Amanor Dodoo was 61 at the time he proceeded on an early retirement. There was no requirement for him to retire at age 60. Besides, there has not been any three (3)-year contract which was executed between the firm and Nii Amanor Dodoo.

Furthermore, the firm at no point in time has withheld the retirement benefit of Nii Amanor Dodoo.

• No internal or external investigation has been conducted on the execution of the receivership engagement which could have led to a cancellation of a purported non-existent contract between the firm and Nii Amanor Dodoo.

• In his capacity as the Receiver of the defunct banks, the firm is providing a team of professionals to support Nii Amanor Dodoo. The engagement has been performed to meet standards expected of the Receiver by law and in line with KPMG’s professional standards.

The firm assures its clients and stakeholders, that it will continue to abide by standards of professionalism in the conduct of its business and execution of engagements.