GHANA ELECTION PETITION: Audit Of Pink Sheets Could Cost About $100,000

It could cost about 100 thousand dollars for an audit to be carried out on pink sheet exhibits in the on-going election petition case.This is what Joy Business has gathered could be the estimated fee for the review by accounting firm, KPMG.

The Presiding Judge in the election petition case, Justice Atuguba on Thursday ordered an audit of the exhibits following a challenge of the figures by lawyer for respondents, as submitted by the petitioners.

Joy Business has learnt, KPMG is even yet to be officially written to before they can even give their quotes for the job.

Sources say the cost is expected to cover what could be described as “the high risk nature” of the audit, and the personnel required to carry out the work.

Meanwhile, the Supreme Court has ordered parties in the case to pay a deposit of 15,000 cedis as administrative fee for the auditing.

This should mean that each of the parties would pay 5,000 Ghana cedis. The amount is to be used in settling part of the auditing by accounting firm, KPMG.

Samson Lardy Ayenin, a Lawyer, speaking on the Super Morning Show Friday, believes the parties in the case are likely to bear most of the cost for the audit.

KPMG is a global network of professional firms providing Audit, Tax and Advisory services. The firm has 145, 000 professionals working in 152 countries worldwide.

Source: Joy Online