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The audit findings prompted the need for a review of the revenue assurance contract, highlighting areas where improvements are necessary to enhance its effectiveness.
However, it is important to review the contract for downstream petroleum audit services, particularly the fee structure.
KPMG also observed that there were qualitative benefits, including a 24/7 electronic real-time monitoring of outflow and partial monitoring of inflows of petroleum products at depots where SML had installed flowmeters and six levels of reconciliation done by SML." Other provisions of the contract worth reviewing include clauses on intellectual property rights, termination, and service delivery expectations.".
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