President Akufo-Addo has ordered an audit into the contract between the Ghana Revenue Authority (GRA) and Strategic Mobilisation Limited (SML).

The audit will be conducted by KPMG and is slated to last for two weeks.

A press statement from the Presidency, issued by Communications Director Eugene Arhin, outlines the President's specific terms of reference for the KPMG audit.

Read more: The GH¢3bn Lie: Government pays hundreds of millions to company despite false claims about its work

The President’s action comes after an investigation by The Fourth Estate revealed that SML had been awarded contracts that entitles the company to more than $100 million every year.

The company admitted it was not performing the advertised services that claimed to tackle under-reporting, diversion and dilution when the investigative journalists confronted it with evidence. It has since deleted those claims from its website.

The Managing Director of SML, Christian Tetteh Sottie, also admitted that the company’s claim that its services had saved Ghana GHS3 billion was false.

The directive reflects a commitment to ensuring transparency and accountability in the execution of the GRA's contractual agreement with SML.

"The President of the Republic, Nana Addo Dankwa Akufo-Addo, has appointed KPMG, the reputable Audit, Tax and Advisory Services firm, to conduct an immediate audit into the transaction between the Ghana Revenue Authority (GRA) and Strategic Mobilisation Ghana Ltd (SML), a contract which was entered into to enhance revenue assurance in the downstream petroleum sector, the upstream petroleum production and minerals and metals resources value chain," an excerpt of the release said.

President Akufo-Addo further instructed the Ghana Revenue Authority (GRA) and the Ministry of Finance to adhere to his directive and furnish KPMG with all necessary documentation for the upcoming audit.

"The President has directed the Ministry of Finance and GRA to provide KPMG with whatever assistance they will require for conduct of the audit, and has also directed the Ministry of Finance and the Ghana Revenue Authority to suspend the performance of the contract, pending the submission of the audit report, including any payments presently envisaged under its terms," the release concluded.