PMMC audit delays not management’s fault – Former MD

Former Managing Director of the Precious Minerals Marketing Company (PMMC), Nana Akwasi Awuah, has rejected suggestions that the company’s books were left unaudited between 2020 and 2024 due to inaction by management.

In a statement issued on Tuesday, October 13, 2026, Mr Awuah said he had written to the Auditor-General on September 2, 2024, requesting a multi-year audit of the company’s books and accounts covering the five-year period.

He explained that the delay in conducting the audits was attributable to bureaucratic challenges associated with the appointment of a new external auditor by the Ghana Audit Service, rather than any failure on the part of management.

“The delay over the years was through no fault of Management,” he stated.

According to him, the Auditor-General assembled a team that commenced work in September 2024, following his request and support from Parliament’s Select Committee on State Enterprises.

He said the final audit reports covering 2020 to 2024 were completed, signed and submitted in April and June 2025, respectively.

Mr Awuah’s clarification follows reports from GoldBod’s engagement with Parliament’s Public Accounts Committee on Tuesday, which indicated that PMMC’s books had not been audited for the period until the new management requested an audit in 2025.

He also disclosed that PMMC underwent a performance audit in 2023, the first of its kind at the company in about two decades.

He maintained that the audit reports showed a struggling PMMC that had been turned around by the end of 2024, laying a firm foundation for the establishment of the Ghana Gold Board (GoldBod), the company’s successor.