Bank of Ghana gives GCB two months leeway to file 2011 financial statement

The Bank of Ghana (BoG) has given Ghana Commercial Bank (GCB) a two month leeway to file its financial statements, a release to the Ghana News Agency on Wednesday, said.

The statement by GCB Management explained that the approval from BoG and the Securities and Exchange Commission waived the March 31 deadline.

GCB is now expected to file its 2011 Financial Statements by May 31, 2012, instead of March 31, 2012 to enable the bank finalise the audit process commenced by its new external auditors.

The GCB Shareholders at its 17th Annual General Meeting on March 28, appointed new external auditors, KPMG.

The AGM abrogated the appointment of Pannell Kerr Forster as Auditors of the bank and appointed KPMG as the new external auditor which was in compliance with the BoG’s directives that for the financial year ending December 2011, all banks whose external auditors have been at post for more than five years should initiate steps to replace them.

Source: GNA