The Bank of Ghana has issued an inventory report detailing the assets and liabilities of defunct UT Bank Ghana Limited as at August 14, 2017 when the bank’s license was revoked.
According to the central bank, the report has not been prepared using procedures that constitute an audit or assurance engagement in accordance with International Standards on Auditing (“ISAs”).
It adds that no audit or assurance opinion has been expressed on the information contained in the report.
“This document has been prepared for Bank of Ghana in accordance with the Receiver’s reporting responsibility to Bank of Ghana under Sections 130(1), 130(4) and 126(3) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930), requiring the Receiver to prepare and deliver a report on the inventory of assets and liabilities of the resolved institution,” the Bank of Ghana noted.
“We do not accept or assume any liability or duty of care for any other purpose or to any other person to whom this document is shown or into whose hands it may come save where expressly agreed by our prior consent in writing,” it added.
“This document contains information obtained or derived from a variety of sources, as indicated within the document.
“PricewaterhouseCoopers (Ghana) Limited (‘PwC’) has not sought to establish the reliability of those sources or verified the information so provided. Accordingly, no representation or warranty of any kind (whether express or implied) is given by PwC to any person (except to our client under the relevant terms of the Contract) as to the accuracy or completeness of the document,” the Bank of Ghana stated.
