Business News Tue, 7 Aug 2018

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We've not been involved with Banking Awards since 2012 - KPMG

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KPMG has explained that it has not been involved with the Ghana Banking Awards since 2012.

Suggestions on social media since the collapse of five banks last week are on why a bank such as uniBank, which won an award at the 2017 edition of the Ghana Banking Awards could collapse a year after.

Critics on social media have sought to question the analysis on selecting banks for the awards and have linked KPMG to the said analysis as well as question the audit firm's role in assisting the Bank of Ghana in the related engagements which led to the collapse of uniBank.

In a press statement issued by Amanor Dodoo, a Senior Partner of KPMG and published in the Tuesday, August 7, 2018, edition of the Daily Graphic newspaper, KPMG, which is a global network of audit firms said it did not provide data to the organizers of the Ghana Banking Awards, Corporate Initiative, for the 2017 edition.

KPMG described as, "misleading social media information attempting to link the 2017 Banking Awards to the recent Banking Resolutions made by the Bank of Ghana, through false allegations about KPMG."

"We are by this correspondence seeking to inform you of the facts related to this matter."

"The misinformation seeks to link KPMG as analysers of the 2017 Ghana Banking Awards and evaluators of the performance of some banks recently affected by Bank of Ghana's Resolution actions and, therefore questions the present role of KPMG in assisting the Central Bank in the related engagements," it said.

The statement explained that KPMG supported the organisers of the Ghana Banking Awards from 2001 until 2012 and that KPMG has since 2013, not been involved in the organisation of the Ghana Banking Awards.

"For the record, we also wish to state that KPMG is not the Auditor of any of the affected banks. Please disregard this malicious information," the statement added.


The Ghana Banking Awards is done on qualitative analysis based on customers perceptions and not on quantitative analysis, according to Corporate Initiative Ghana, the organisers of the awards.

Source: Graphic.com.gh

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