KPMG sign MoU with GIPS to promote sound procurement practice

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Kpmg
Kpmg

The Ghana Institute of Procurement and Supply (GIPS) has signed a memorandum of understanding with leading multinational audit firm KPMG to build the right synergies and capacities that will promote the practice of sound and value-based procurement in the country.

Areas of the engagement will include KPMG’s assessment, recommendation, and support for the passage of the proposed Procurement Practicing Bill, which is tipped to be the game-changer for the procurement practice, and the offering of its sophisticated digital learning platforms to help build the right skills and capabilities of local procurement professionals.

According to the president of GIPS, Mr. Simon Annan, the strategic partnership aligns with the

institute’s vision of building the right alliances and support systems that will help to tackle procurement related infractions and wastages in both the public and private spaces.

“As procurement professionals, our service is critical in the management of public finances and we need the right support systems and collaborations. KPMG is a good match and through this partnership we will be able to build the right capacities that will help to sanitize the procurement landscape,” he said at a meeting between the leadership of the two institutions.

Mr. Annan added: “As critical stakeholders, the two institutions could collaborate in several areas including the reviewing and making significant inputs into the draft Procurement Practicing Bill, which will be the game-changer for the practice of procurement in the country.”

KPMG’s Head of Advisory and Markets, Andy Akoto, in his remarks, assured that his outfit was ready to work with GIPS and also highlighted the need for private sector and civil society organisations to step

up their efforts in helping to reduce procurement-related wastages, especially in the public sector.

“KPMG is at the forefront when it comes to helping to strengthen the ethical and other control systems of organisations; and we have the expertise to push the procurement agenda,” he assured.

According to Mr. Akoto, the partnership will greatly improve public finance management practices because fallouts from organizational weaknesses such as fraud and other financial malfeasances more often than not start with procurement.

“For us, there are definitely some synergies and areas to collaborate and cooperate to help bring procurement conversation to the fore to help address the wastage in public finances,” he further noted.

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