KPMG Fails In Its Professional Duty

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princewilly@ymail.com 12 years ago

Three men are sitting on the beach in Miami.
Moishe says; "So, I had a lumber business.
Huge inventory. Then one night a tragic fire swept through my yard, leaving me nothing to sell but ashes. I collected the insurance, an ...
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Three men are sitting on the beach in Miami.
Moishe says; "So, I had a lumber business.
Huge inventory. Then one night a tragic fire swept through my yard, leaving me nothing to sell but ashes. I collected the insurance, and here I am."
Bernie replies; "Really? Similar story for me.
I had a paper supply house. One night
the sprinkler system accidently goes off, soaks all my inventory, and BANG!, here I am in Florida with my settlement!"
They both look over at the younger man.
"So... why are you here?", they ask.
"My name is Joel and I was a tailor making nice shirts in Hawaii. Without much warning a hurricane hit and blew all my inventory out to sea. Like you, I collected my insurance and here I sit."
The older two men look at each other and nod silently.
Then Bernie says;
"How do you make a hurricane?"

KPMG WAS DOING IT FOR FREE SO THEY DONT CARE.IF THEY ARE CHARGING MONEY,THEY WILL TAKE THE INVENTORY AND COPY EVERY THING DOWN.
jon 12 years ago

this writer is an idiot!!!!

this writer is an idiot!!!!
Ghanaman 12 years ago

Are you markerting yourself or what?

Are you markerting yourself or what?
SARPONG KUMAKUMAH 12 years ago

WHAT IS WRONG WITH GHANA AND ITS CITIZENS? THERE IS SOMETHING SERIOUSLY WRONG HERE. THE POINT BEING MADE BY THE WRITER OF THIS ARTICLE IS SIMPLY COMMONSENSIBLE. WHAT WOULD THE KPMG HAVE DONE IF THEY HAD GONE TO THE REGISTRY T ...
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WHAT IS WRONG WITH GHANA AND ITS CITIZENS? THERE IS SOMETHING SERIOUSLY WRONG HERE. THE POINT BEING MADE BY THE WRITER OF THIS ARTICLE IS SIMPLY COMMONSENSIBLE. WHAT WOULD THE KPMG HAVE DONE IF THEY HAD GONE TO THE REGISTRY TO PICK THE PINK SHEETS IN CALABASHES COVERED WITH LEAVES. WOULD THEY START THE COUNTING. BY THE WAY WHO RANKED THIS FIRM AS REPUTABLE IN THE FIRST PLACE. O GOD HELP GHANA. WE ARE FALLING APART.
Kojo T 12 years ago

I could not believe it when I read it. An INTERNATIONAL audit and accounting Firm ? What a shame?

I could not believe it when I read it. An INTERNATIONAL audit and accounting Firm ? What a shame?
Danny 12 years ago

THE NPP JUSTICES ON THE PANEL PUSHED FOR KPMG TO BE CONTRACTED TO DO THE AUDITING KNOWING VERY WELL WHAT THEY WILL DO FOR THE NPP.THE CHIEF JUSTICE, THAT CRIMINAL OF A WOMAN PLAYED A MAJOR ROLE.

THE NPP JUSTICES ON THE PANEL PUSHED FOR KPMG TO BE CONTRACTED TO DO THE AUDITING KNOWING VERY WELL WHAT THEY WILL DO FOR THE NPP.THE CHIEF JUSTICE, THAT CRIMINAL OF A WOMAN PLAYED A MAJOR ROLE.
Kokompe 12 years ago

That Akyem crook has managed to accomplish his task this time. His ockokobila infested arse should be behind bars in Nsawam

That Akyem crook has managed to accomplish his task this time. His ockokobila infested arse should be behind bars in Nsawam
Kokompe 12 years ago

That Akyem crook has managed to accomplish his task this time. His ockokobila infested arse should be behind bars in Nsawam

That Akyem crook has managed to accomplish his task this time. His ockokobila infested arse should be behind bars in Nsawam
Kokompe 12 years ago

That Akyem crook has managed to accomplish his task this time. His ockokobila infested arse should be behind bars in Nsawam

That Akyem crook has managed to accomplish his task this time. His ockokobila infested arse should be behind bars in Nsawam
Kokompe 12 years ago

That Akyem crook has managed to accomplish his task this time. His ockokobila infested arse should be behind bars in Nsawam

That Akyem crook has managed to accomplish his task this time. His ockokobila infested arse should be behind bars in Nsawam

Kokompe 12 years ago

That Akyem crook has managed to accomplish his task this time. His ockokobila infested arse should be behind bars in Nsawam

That Akyem crook has managed to accomplish his task this time. His ockokobila infested arse should be behind bars in Nsawam
JB 12 years ago

Hi David. You are on point on this. Our political system in Ghana is so polarized. And it appears to me that this is eating into all spheres of social life including professionals (i.e. Lawyers, Accountants and others) who ar ...
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Hi David. You are on point on this. Our political system in Ghana is so polarized. And it appears to me that this is eating into all spheres of social life including professionals (i.e. Lawyers, Accountants and others) who are trained to maintain standards at all times in their work. The situation also appears to be affecting academicians as well. Dr Bawumia, the academician kept talking of his analysis without clearly stating in a convincing manner the method used to collect the data that went into his analysis. In basic research methods, we are told that a rigorous and random sampling strategy is necessary when selecting a sample in order to ensure that the sample is representative of the 'population' to which the data is in reference. Another criteria is that in selecting the sample one should not biased. All these feed into the validity and generalization of the analysis and results. In my view, whiles we wait for the SC final verdict, these are issues, the academia can contribute on instead of the silence we are witnessing from them. As a teacher, I see this as a 'teachable moment or opportunity'.
JB 12 years ago

Hi David. Haven read some of the comments emanating from your original contribution, another moral fabric in our society comes up --intolerance-- Please, I think you should ignore such contributions that do not add any subst ...
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Hi David. Haven read some of the comments emanating from your original contribution, another moral fabric in our society comes up --intolerance-- Please, I think you should ignore such contributions that do not add any substance, but only unwarranted insults.
Kojo Emma 12 years ago

Politics and bribery have killed honesty in Ghana. NPP HAS COMPROMISED THE WHOLE EXERCISE WITH BRIBES AND ADDITION OF BOXES TO THE ORIGINAL NUMBER. GOD, SAVE GHANA NOW.

Politics and bribery have killed honesty in Ghana. NPP HAS COMPROMISED THE WHOLE EXERCISE WITH BRIBES AND ADDITION OF BOXES TO THE ORIGINAL NUMBER. GOD, SAVE GHANA NOW.
Tuffour Agyemang 12 years ago

In what way did KPMG fail? The terms of reference was agreed to by all affected parties and do not think that they will compromise their integrity.Tsikata had deposed to the SC. that they received an unknown of pink sheets ...
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In what way did KPMG fail? The terms of reference was agreed to by all affected parties and do not think that they will compromise their integrity.Tsikata had deposed to the SC. that they received an unknown of pink sheets and the terms of reference by KPMG. was to do a head count. They have done their job. Justice Atuguba in his ruling directed Mr Tsikata to make a formal request to the arbiters and they would incorporate it in theit report. In plain English, the SC told the respondents that they do not believe there has been any compromise.The Legal jargon is only undetstood by their practitioners.
David Mensah 12 years ago

The failed in not securing the boxes of pink sheets. David is right, KPMG ought to have had a head count of the number of boxes on first day they met with all the parties. At things stand no one including all the parties in t ...
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The failed in not securing the boxes of pink sheets. David is right, KPMG ought to have had a head count of the number of boxes on first day they met with all the parties. At things stand no one including all the parties in the case knows for certain the no of pink sheets that were presented to SC before the counting started.
GHANA MAN 12 years ago

you are either naïve, dubious, stupid or just ignorant of the truth. whichever way, you know NDC and Tsatsu has failed in their allegations. lies at its highest level. SHAME TO YOU ALL FOR YOUR DIABOLIC PLANS. GOD BLESS GHAN ...
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you are either naïve, dubious, stupid or just ignorant of the truth. whichever way, you know NDC and Tsatsu has failed in their allegations. lies at its highest level. SHAME TO YOU ALL FOR YOUR DIABOLIC PLANS. GOD BLESS GHANA
kwaa akyem 12 years ago

This article is pure speculation! It is bogus and a waste of time and mesia space. KPMG said they did not take inventory meant they had not started the process. If you doubt the integrigy of the court registry then why start ...
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This article is pure speculation! It is bogus and a waste of time and mesia space. KPMG said they did not take inventory meant they had not started the process. If you doubt the integrigy of the court registry then why start any defence of the case and also ask for confirmation of the numbers in the evidence provided? Anyway we all see how bad the respondents case is and so are bent on doing all sorts of things to bend facts. That will not fly. NDC founder used to say justice delayed is justice denied. The NDC needs to remember this saying always.
Atua Kofi 12 years ago

Kwaa, David talking about the standard professional practice that KPMG failed to apply in their work.

Kwaa, David talking about the standard professional practice that KPMG failed to apply in their work.
Jnfak 12 years ago

Got the post through wofa worhor. Pass his audit papers through chew and pour. Has no understanding of audit process

Got the post through wofa worhor. Pass his audit papers through chew and pour. Has no understanding of audit process

kanawu 12 years ago

before the counting it was SHORTAGE just after they started ADDITIONAL boxes and now OVERAGE how did they know all these, don't forget that they have 6 representatives in there and also what these people can do.

before the counting it was SHORTAGE just after they started ADDITIONAL boxes and now OVERAGE how did they know all these, don't forget that they have 6 representatives in there and also what these people can do.
dave 12 years ago

Indeed i never believed my ears when i heard winful stated categorically that they didn't take inventory and that it was not part of their work. It was a shock to hear this from a so called reputable institution. One would ha ...
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Indeed i never believed my ears when i heard winful stated categorically that they didn't take inventory and that it was not part of their work. It was a shock to hear this from a so called reputable institution. One would have thought that the basic thing to do was to take charge from day one so that no body takes anything out or adds anything. Does it mean they were ready to count any number of boxes that is brought to them?
Ka na wu 12 years ago

They were asked to count/audit pink sheets... not boxes.

They were asked to count/audit pink sheets... not boxes.
Ka na wu 12 years ago

They were asked to audit pink sheet not boxes

They were asked to audit pink sheet not boxes
Atiah Akolgoma 12 years ago

The pink sheets were in boxes. So even to start counting KPMG needed to secure the boxes that contained those pink sheet. And you can only do that by counting the boxes in
the presence of all parties.

The pink sheets were in boxes. So even to start counting KPMG needed to secure the boxes that contained those pink sheet. And you can only do that by counting the boxes in
the presence of all parties.
SARPONG KUMAKUMAH 12 years ago

GOD FORGIVE YOU FOR BEING SO STUPID. THE KPMG WAS ASKED TO COUNT PINK SHEETS COOKING IN KNRUMAHNKWAI SOUP AT KEJETIA. SO THEY HAVE TO RETRIEVE THE SHEETS FROM THE KNRUMAHNKWAI SOUP BEFORE THEY CAN COUNT THEM.

GOD FORGIVE YOU FOR BEING SO STUPID. THE KPMG WAS ASKED TO COUNT PINK SHEETS COOKING IN KNRUMAHNKWAI SOUP AT KEJETIA. SO THEY HAVE TO RETRIEVE THE SHEETS FROM THE KNRUMAHNKWAI SOUP BEFORE THEY CAN COUNT THEM.
Eric 12 years ago

Mr David, are u sure u obtained your degrees credibly, cos the substance of your argument could only belong to that of a twelve year old, you run down an organization unfairly, just to justify the lies being perpetrated by yo ...
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Mr David, are u sure u obtained your degrees credibly, cos the substance of your argument could only belong to that of a twelve year old, you run down an organization unfairly, just to justify the lies being perpetrated by your party and like-minded people like you.you are a true disgrace to your professional bodies.
Thomas TJ 12 years ago

Eric, were in the article has David run down KPMG. You are rather childish in your perusal of the article. If a reputable organisation fails to follow standard proceedure in under taking its work are suggesting that it should ...
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Eric, were in the article has David run down KPMG. You are rather childish in your perusal of the article. If a reputable organisation fails to follow standard proceedure in under taking its work are suggesting that it should be criticised. David does not need you to approve of his degrees. What is wrong is wrong and should be subject to scrutiny
venom 12 years ago

I thought you were going to prove to David how you genuinely acquired your auditing certificate, and outline the best practice approach to debunk his argument. Unfortunately, you rather displayed a low level of reasoning, and ...
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I thought you were going to prove to David how you genuinely acquired your auditing certificate, and outline the best practice approach to debunk his argument. Unfortunately, you rather displayed a low level of reasoning, and at best inferior to the writer. You owe him an apology and of course all your mentors for your inability to put up a fight through logical reasoning to counter someone you thought is not charting your course. Stop the insult and simply make sense like the guy. Good luck to that.
Andrew Kyereh 12 years ago

Fellow countrymen, let us be fair to KPMG. If KPMG took custody of the boxes without taking inventory of it, then that would have definitely been unprofessional. But, if all parties went in, to be shown at a glance, what is t ...
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Fellow countrymen, let us be fair to KPMG. If KPMG took custody of the boxes without taking inventory of it, then that would have definitely been unprofessional. But, if all parties went in, to be shown at a glance, what is to be audited, then I don't see anything unprofessional about KPMG not taking inventory at this visit. It is just unfortunate that this element of uncertainty has been introduced into the equation before the auditing began.

Nii Noi 12 years ago

Andrew, KPMG is still blameable. The basic auditing proceedure ought to have been applied irrespective of whether or not the pink sheets were in the custody of the SC

Andrew, KPMG is still blameable. The basic auditing proceedure ought to have been applied irrespective of whether or not the pink sheets were in the custody of the SC
Theo 12 years ago

How can you blame KPMG when they have not started their work yet? Why don't you lay the blame where it should be, Tsatsu and Ndc telling SC that they and KPMG took inventory of the boxes when they knew it was a lie?

How can you blame KPMG when they have not started their work yet? Why don't you lay the blame where it should be, Tsatsu and Ndc telling SC that they and KPMG took inventory of the boxes when they knew it was a lie?
Justman 12 years ago

THIS IS NOT A CONCERT PARTY OR FUNFAIR AT LA BEACH. WE ARE TALKING ABOUT SOMETHING BORDERING ON OUR VERY EXISTENCE AS HUMAN BEINGS.IF WAR BREAK OUT RIGHT NOW OVER THIS WHO CAUSED IT. THIS IS AN UNPARDONABLE MISTAKE.THE FEUDIN ...
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THIS IS NOT A CONCERT PARTY OR FUNFAIR AT LA BEACH. WE ARE TALKING ABOUT SOMETHING BORDERING ON OUR VERY EXISTENCE AS HUMAN BEINGS.IF WAR BREAK OUT RIGHT NOW OVER THIS WHO CAUSED IT. THIS IS AN UNPARDONABLE MISTAKE.THE FEUDING PARTIES MAY FORGET, BUT THE REFREE ALSO TO FORGET MEANS WE ARE ALL DEAD. WHAT IS THE USE.NO NEED.
Jack 12 years ago

I have totally agreed with this comment. Mr Wilful should bow down his head in shame for the loose comment made on the boxes. I wonder if he is actually an auditor. How can he be a senior partner when he does not know primary ...
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I have totally agreed with this comment. Mr Wilful should bow down his head in shame for the loose comment made on the boxes. I wonder if he is actually an auditor. How can he be a senior partner when he does not know primary auditing procedures
Deed 12 years ago

Is KPMG really an international body? I doubt if it has credibility. why didn't they recruit well composed personel? this is a group in Ghana that can't even follow simple auditing rules.shame onto KPMG.fire your entire staf ...
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Is KPMG really an international body? I doubt if it has credibility. why didn't they recruit well composed personel? this is a group in Ghana that can't even follow simple auditing rules.shame onto KPMG.fire your entire staff in Ghana.KPMG's personel are completely immerse in corruption
YEBOAH 12 years ago

IN FACT, EVEN BACK YARD AUDIT FIRMS IN GHANA WOULD HAVE DONE BETTER THAN WHAT THE INTERNATIONAL AUDIT FIRM, KPMG HAS DONE. THESE ARE THE REASONS WHY THE FINANCES OF BIG COS ARE IN SHAMBLES AS A RESILT OF THIS KIND OF USELESS ...
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IN FACT, EVEN BACK YARD AUDIT FIRMS IN GHANA WOULD HAVE DONE BETTER THAN WHAT THE INTERNATIONAL AUDIT FIRM, KPMG HAS DONE. THESE ARE THE REASONS WHY THE FINANCES OF BIG COS ARE IN SHAMBLES AS A RESILT OF THIS KIND OF USELESS CORUPT WORK. STUPID ORGANISTION.
Justman 12 years ago

WE ALL AGREE THIS CANNOT BE ACCETED ANYWHERE.ATUGIYA YOUR POINT IS WELL ARTICULATED.FREE THINGS ARE MORE COSTLY.WE BETTER PAY SOMEBODY 200,000USD TO DO A GOOD JOB FOR US RATHER USELESS MEDIOCRE,LACKDAISICAL, IT IS NOT PART OF ...
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WE ALL AGREE THIS CANNOT BE ACCETED ANYWHERE.ATUGIYA YOUR POINT IS WELL ARTICULATED.FREE THINGS ARE MORE COSTLY.WE BETTER PAY SOMEBODY 200,000USD TO DO A GOOD JOB FOR US RATHER USELESS MEDIOCRE,LACKDAISICAL, IT IS NOT PART OF TERMS OF REFERENCE ATTITUDE WHICH WILL COST US OUR LIVES.IF WAR SHOULD BREAK OUT NOW OVER THIS WHO CAUSED IT.THEY DO NOT CARE.
Kofi Asaase Asa--- Mantukwa 12 years ago

This writer has a logical problem. He has to go to the psychiatrist for examination.

And I quote:

"..For KPMG that prides its self as a reputable international accounting and auditing firm to be quoted by XYZ News (ref ...
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This writer has a logical problem. He has to go to the psychiatrist for examination.

And I quote:

"..For KPMG that prides its self as a reputable international accounting and auditing firm to be quoted by XYZ News (ref to headline “We never took inventory of pink sheets – KPMG” in ghanaweb.com, 22 May 2013), as saying it did not take an initial inventory of the number of boxes containing the pink sheets (primary electoral records) in the custody of the Supreme Court’s Registry before it started auditing the sheets was professionally inexcusable...."

What a sense! What a useless sense!

Common sense is not common else it would not be called a sense!

How can KPMG make a count of what has not been taken over or is in the custody of another party?

How can KPMG count documents when the work has not yet commenced?

Was it not during the commencement of the audit that the need to count all the number of boxes arose and was it not during this time of counting that the NDC members and their respondents began to shout 'wolf' 'wolf' when there was no 'wolf'?.

I think this writer needs to examine his head!

This is a useless and a senseless article.

A mere waste of time!
Kofi Tutu 12 years ago

You are ilogical your self. Once the acceptance was made by KPMG and a meeting was conveyed by them at SC in the strong room work had began. The logic is that what was the purpose of the meeting. It was because of the pink s ...
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You are ilogical your self. Once the acceptance was made by KPMG and a meeting was conveyed by them at SC in the strong room work had began. The logic is that what was the purpose of the meeting. It was because of the pink sheet. KPMG as rightly pointed out by writer was aware of the dispute of the number of pink sheets provided to the respondents. It was also aware of the fear expressed by both the petioner and respondents about the security of pink sheets at the SC.
So any referee of it salt to be seen to be transperent will ensure that a count is made in presence of all parties and well labelled and marked properly in day.
t
HONESTY 12 years ago

The writer is perfectly right. I have indicated this basic failure by KPMG in my comments against Ghana web's reports on Gloria Akuffo's interviews about some boxes being left behind and later traced and Winful's interview in ...
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The writer is perfectly right. I have indicated this basic failure by KPMG in my comments against Ghana web's reports on Gloria Akuffo's interviews about some boxes being left behind and later traced and Winful's interview in which he indicated that they did not take an inventory.
KPMG HAS MESSED AND MISSED THE OPPORTUNITY, BIG TIME!!SHAME!!!!
ASEM 12 years ago

WHAT A SKIN PAIN ARTICLE.
KPMG WILL ONLY COUNT AT THE COMMENCEMENT. THE DATE AND TIME AND PLACE AND MODALITIES OF COMMENCEMENT IS SET BY THE COURT AND THE LITIGANTS. KPMG COMMENCEMENT IS NOT WHEN NDC SAYS BUT WHEN ALL THE P ...
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WHAT A SKIN PAIN ARTICLE.
KPMG WILL ONLY COUNT AT THE COMMENCEMENT. THE DATE AND TIME AND PLACE AND MODALITIES OF COMMENCEMENT IS SET BY THE COURT AND THE LITIGANTS. KPMG COMMENCEMENT IS NOT WHEN NDC SAYS BUT WHEN ALL THE PARTIES AND REFEREE SAY AND ARE PRESENT. FULL STOP.
Ndebugri!, USA 12 years ago

The NDC has all along argued that the Petitioners did not have enough pink sheets as declared and that is why the submitted duplicates, triplicates and quardleplicates. This is why they called for a recount. So why and from w ...
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The NDC has all along argued that the Petitioners did not have enough pink sheets as declared and that is why the submitted duplicates, triplicates and quardleplicates. This is why they called for a recount. So why and from where will they smuggle additional pink sheets to bolster their claim if they didn't have enough to make their case? My point is that if the counting has established they indeed have more than enough pink sheets, what's the fuss?
Klovi 12 years ago

I agree with the one who brought this, its like playing football and you wan't to bring in a player,the refree has to inspect the boots of the player coming in to play.so if you are given this important pink sheet to audi and ...
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I agree with the one who brought this, its like playing football and you wan't to bring in a player,the refree has to inspect the boots of the player coming in to play.so if you are given this important pink sheet to audi and you tell us you did not count, the boxes then what do you mean
Whatever 12 years ago

Those 7 extra boxes were CRIMINALLY added with the assistance of KPMG who shockingly visited the vault unaccompanied by the respondents prior to the outset of the counting. Is it any wonder why they didn't want to charge? Be ...
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Those 7 extra boxes were CRIMINALLY added with the assistance of KPMG who shockingly visited the vault unaccompanied by the respondents prior to the outset of the counting. Is it any wonder why they didn't want to charge? Because if they had, they would have been forced to size up the workload or count the boxes before starting
David kk.uds 12 years ago

KPMG knows best as an independent referee in the discharge of its duties.

KPMG knows best as an independent referee in the discharge of its duties.
Evans 12 years ago

Counting and auditing of the Pink sheets are surely not the bone of contention at the SC. Though KPMG might have proceeded the process with that degree of recklessness. They will surely present a report to the SC, and bet me ...
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Counting and auditing of the Pink sheets are surely not the bone of contention at the SC. Though KPMG might have proceeded the process with that degree of recklessness. They will surely present a report to the SC, and bet me they will have many questions to answer.
TNC 12 years ago

David,
You have said it all !
KPMG has simply been negligent in their duty.

David,
You have said it all !
KPMG has simply been negligent in their duty.
M.TAHIRU 12 years ago

I agree with the writer.Professional duty ought to be carried/handled by competent staff,for this negligence is unprofessional and unethical and calls for their demotion.

I agree with the writer.Professional duty ought to be carried/handled by competent staff,for this negligence is unprofessional and unethical and calls for their demotion.

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KPMG Fails In Its Professional Duty

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