Revenues of Iraqi Mobile Phone Companies To Be Audited by KPMG

Dr. Ali Moayyed, head of the Communications and Media Commission (CMC), revealed that KPMG, a renowned global auditing firm, has been enlisted to conduct a comprehensive audit of mobile phone companies’ revenues in Iraq over the past six years, spanning the period from 2017 to 2022.

This strategic move, highlighted by Dr. Ali Moayyed, is a proactive measure within the authority’s mandate to boost transparency and curb tax evasion within the telecommunications and information technology sector. Ensuring dilligent supervision aims to safeguard the state’s entitlement to its full financial dues.

Photo: CMC

KPMG’s reputation as one of the foremost global entities in financial and accounting auditing lends credence to this initiative. As one of the world’s leading auditing and accounting service providers to corporations, KPMG brings unparalleled expertise in assessing the financial records of mobile phone companies operating in Iraq.

This initiative is poised to fortify the accuracy and integrity of revenue reporting among mobile phone companies, thereby reinforcing compliance with Iraqi laws and financial regulations. Dr. Ali Moayyed underscored the significance of this endeavour during a meeting at the authority’s headquarters, marking the commencement of collaborative efforts with KPMG.

Photo: CMC

In outlining their approach, KPMG presented a comprehensive plan encompassing heavy analysis of financial data, precise validation of accounting procedures, and engagement with company personnel through interviews. By undertaking this initiative, the CMC reiterates its commitment to upholding the state’s fiscal interests in the telecommunications sector while enhancing transparency in this vital sector.

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