The Bank of Ghana has defended its decision to appoint a new external auditor for its 2025 financial statements, insisting that the move is routine and in line with good corporate governance practices.
Speaking on Channel One TV’s Face to Face on Tuesday, May 5, the Director of Communications at the Bank of Ghana, Bernard Otabil, dismissed suggestions that the switch to KPMG is suspicious or intended to influence the outcome of the audit.
Responding to concerns raised about the decision, Otabil said claims that the move is “fishy” are problematic.
He argued that retaining the same auditor for five or more years could itself raise questions about independence and effectiveness.
According to him, prolonged familiarity between auditors and an institution can sometimes lead to routine approaches that may limit the ability to identify key issues that add value to the organisation’s financial oversight.
He further stressed that it is incorrect to assume that auditors are selected to produce favourable outcomes for any institution.
“The work that auditors do must be properly and thoroughly done to the point where they give an opinion,” he said.
Otabil added that auditing is guided by strict professional ethics, which are designed to ensure independence and objectivity in the review of financial statements.
He rejected any suggestion that auditors could be engaged to act on behalf of an institution, insisting that such claims do not reflect the standards of the profession or the practices of the Bank of Ghana.
The clarification comes amid public scrutiny of the central bank’s 2025 financial reporting process and the recent change in its audit arrangements.
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