Bank of Ghana has defended its decision to appoint a new external auditor for its 2025 financial statements, maintaining that the move is routine and consistent with sound corporate governance practices.
Bernard Otabil, the Director of Communications at the Bank of Ghana, denied claims that the move to KPMG is suspicious or meant to sway the audit’s conclusion in an interview with Channel One TV’s Face to Face.
In response to worries expressed regarding the choice, Otabil stated that assertions that the action is “fishy” are problematic.
He contended that using the same auditor for five or more years could raise concerns about their efficacy and independence.
He claims that long-term familiarity between auditors and an organisation might occasionally result in repetitive techniques that may hinder the capacity to recognise important issues that enhance the organisation’s financial oversight.
He further emphasised that it is false to believe that auditors are chosen to help any institution achieve its goals.
He stated, “The work that auditors do must be properly and thoroughly done to the point where they give an opinion.”
According to Otabil, auditing is governed by stringent professional norms that are intended to guarantee impartiality and independence in the examination of financial statements.
He denied that auditors may be hired to work on behalf of an organisation, stating that such assertions do not align with the Bank of Ghana’s policies or the norms of the profession.
