PMMC audits were initiated in 2024, not 2025 – Former MD replies Sammy Gyamfi

Former Managing Director of the Precious Minerals Marketing Company (PMMC), Nana Akwasi Awuah, has disputed claims that the company’s financial audits for 2020 to 2024 were initiated in 2025, insisting that he requested the exercise in September 2024.

His response follows an appearance by Ghana Gold Board (GoldBod) Chief Executive Officer, Sammy Gyamfi, before Parliament’s Public Accounts Committee (PAC) on Tuesday, October 13.

Sammy Gyamfi reportedly said the company’s accounts had not been audited during those years and that the new management requested a financial audit in 2025.

In a statement dated Tuesday, October 13, Akwasi Awuah said he wrote to the Auditor-General on September 2, 2024, requesting a multi-year audit of PMMC’s books and accounts, adding that the delay in completing the exercise was due to bureaucratic challenges rather than any failure by management.

“The Auditor General accordingly put together a team that immediately commenced work in the same month of September 2024,” he said.

Akwasi Awuah explained that the Parliamentary Select Committee on State Enterprises also wrote to the Auditor-General in support of his request, after which the audit process began.

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

The former MD also cited a performance audit conducted by the Auditor-General in 2023, which he described as the first of its kind at PMMC in about two decades.

He further maintained that the audit reports showed that PMMC, despite struggling in previous years, had been turned around by the end of 2024, providing a foundation for the establishment of GoldBod.

“It is instructive to note that the final audit reports over the years in question demonstrate a struggling PMMC which was eventually turned around by year end of 2024 setting a firm foundation for the establishment of its successor GOLDBOD,” he added.