Malik Haroon Ahmad
Malik Haroon Ahmad
He is a Fellow Member of Institute of Chartered Accountants of Pakistan with over 23 years of experience as a trusted adviser and proven leader assisting Companies, Partnership Concerns, Sole Establishment Businesses and Government entities with Audit, Assurance, Taxation Compliance including VAT, Advisory Services, Accounting & Book Keeping Services, Management Consultancies, Feasibility Studies, Corporate Compliances, Computerized Implementation & Training of Accounting Software, HR Consultancies, Internal Control Policies & Procedures, and Strategic Planning.
Presently, Practicing as Senior Partner of two firms in Pakistan while leading a team of more than 215 staff members spread over 4 offices in four different big cities of Pakistan [Lahore, Karachi, Islamabad and Sahiwal]. An overview of two firms is as below:
|Name & Legal Form||Affiliations||Country|
|Tariq Abdul Ghani Maqbool & Co. (TAGM) Chartered Accountants||Switzerland|
|(Civil Company- 9 Partners)||UK|
|Providing services of Business Assurance & Risk Management including auditing services, Financial Advisory and Management Consultancy, BPO & HR Outsourcing, Tax Consulting and Management, Foreign Investment Advisory and Legal and Secretarial Services.|
|Maqbool Haroon Shahid Safdar & Co. (MHSS) Chartered Accountants|
(Civil Company- 4 Partners)
Providing Business Incorporation Services, Auditing Services, Business Advisory Services, Accounting & Bookkeeping Services, Human Resource Management Services, and Management Consultancies.
He is a certified internal controls auditor in 2014 from the Institute of Internal Controls USA. Before that he became member of Institute of Chartered Accountants of Pakistan in 2001. In the same year, he also became Registered Income Tax Practitioner with Lahore Tax Bar Association. He did Bachelor of Commerce in 1992 from the University of the Punjab.
|Designation||Organization Name||Duration Period||Total Experience|
|Partner||Senior Partner at TAGM & Co, Chartered Accountants and MHSS & Co., Chartered Accountants- Pakistan||2004 to date||12 Years|
|Senior Manager Taxation||EY Ford Rhodes Sidat Hyder & Co., Chartered Accountants, Lahore, Pakistan (Formally – Big Four worldwide)||1997-2004||7 Years|
|Registered Article-ship||Sidat Hyder Qamar Maqbool & Co., Chartered Accountants, Lahore, Pakistan (Formally member of Arthur Andersen Worldwide)||1994 – 1997||4 Years|
TAGM & Co. AND MHSS & Co.
Presently, I am Practicing as Senior Partner of two firms, I am providing services of Audit, System Implementation, Accounting and Book Keeping Services, Risk & Assurance Services, Feasibility Studies, Corporate Compliance, Management Consultancies, HR Management and Advisory Services, Accounting Software Implementation Services and Tax Compliance & Advisory Services as mentioned below:
Audit & Assurance:
- As an engagement partner, I conduct Statutory Audits of several Public and Private Corporate clients, Not for Profit Organizations and Government entities which are required to be conducted under the provision of The Companies Ordinance and various other statutes, and accordingly give Audit Opinion on Audit Reports.
- Undertook Internal Audits for various corporates, with the object of bringing in efficiency in the functioning of an enterprise as-well-as in reducing costs. The processes are reviewed and the internal control systems are strengthened.
Concurrent Audits, Stock Audits:
- Extensively involved in conducting of Concurrent Audits, Stock Audits, Third Party Audits etc. for many Nationalized and Private Sector entities.
Income Tax Audits:
- Conducts Tax Audits as prescribed under the provisions of The Income Tax Ordinance, 2001.
VAT (Sales Tax) Audits:
- Conducted Audits as prescribed under the provisions of The VAT (Sales Tax) rules.
- Conducted audits on behalf of the different regulatory bodies in respect of different types of investigations.
- Undertook preparation and filing of Income Tax Returns with the Tax Authorities. I further assisted the clients in making correct and timely tax payments of dues such as Advance Tax, Self-Assessment Tax, etc.
Appeals, Revisions & Representations:
- Prepared appeals and written submissions and appearing before the tax and appellate authorities including the Income Tax Appellate Tribunal (ITAT).
Tax Deduction at Source (TDS) Compliance Services:
- Advising the clients on the correct deduction and payment of taxes at source for various transactions and filing of Returns of the Clients. Also provided services such as Due diligence of TDS compliances.
Tax Consultancy / Planning:
- Advising the clients for planning their income tax matters.
- Advising the clients on International taxation in the area of remittances, Foreign Investments, incorporation of foreign companies, opening of Offices of Foreign entities.
Value Added Tax (Sales Tax):
- Undertake the professional work for obtaining registration under the different laws of Sales Tax.
Filing of Returns:
- Provide requisite guidance for the preparation, payment and filing of Sales Tax Returns.
- Preparation of written submissions and appearing before the tax and appellate authorities.
- Provide advisory and consultancy services to clients on a regular basis or on a case to case basis as per the needs of the client.
- Undertook the professional task of verifying the compliances with the provisions of the Sales Tax Act and allied laws.
Setting up of Accounting System and Training:
- Guide and undertake the job of setting up the accounting system as best suited to the clients and also provides customized training to the clients enabling them to make proper compliances with the Sales Tax Laws.
- Takes up the Tax Planning under Sales Tax Act and allied laws as best suited to the organization.
Render following advisory and compliance related services for corporates:
- Incorporation of Companies.
- Conversion of Companies from Private Limited to Public Limited and vice-versa.
- Change of Name and object clause.
- Preparation, renewing and Filing of Statutory Returns and documents as at year end and on periodic basis.
- Maintenance of Statutory Books including Minutes Books and Registers.
- Filing of Petitions and Appearance before Company Law Board (Securities and Exchange Commission of Pakistan).
- Liquidation and Winding up of companies.
Corporate & Financial Advisory:
Raising of Resources:
- Advising the clients in raising of resources through Financial Institutions, Banks, etc. I assisted in preparation of Information Memorandum and making presentations to the lenders and handholding of the client until the completion of the transaction.
Restructuring, Merger and Amalgamation:
- In the current scenario of Privatization and Globalization, it is only the fittest who will survive. I render advisory services for Restructuring, Merger and Amalgamation. It assists the client from the stage of identifying the weak areas to the final stage of restructuring.
- I offer comprehensive equity and business valuation services using sophisticated financial models to assist clients in carrying out acquisition Activities, di-vestments, Spin-offs, Financial Restructuring etc. for regulatory and other financial purposes. The valuation process is carried out after understanding the business of the client and exercising sound judgment, after taking into consideration various qualitative factors like Market Position of the client, Competition in the Industry, Technology being used by the Client, Brand value of the Client etc. The valuations arrived upon, are backed by strong assumptions.
Due Diligence Services:
- Analyzing businesses – on a legal, financial and secretarial basis to ensure that all the policies and procedures followed by the target concern are in accordance with the Rules and Regulations. After that generate a Due Diligence report for clients. The due diligence process is carried out in relation to Private Placements, Issuance of Securities, Drafting of Prospectus, Offer Letter and other documents. These reports give the client a realistic analysis of the market that the client intends to enter / acquire and helps them in decision-making.
- Guiding clients to look at the various aspects involved in the projects – marketing, real estate, cultural, economic, etc. When undertaking a new business venture.
- Carried out in consultation with industry experts and specialists, wherever required. Technical study may be all-encompassing or selective and may include options for technical design of the plant, its best location, the vendor(s) most suitable for the projects and such other factors.
- Guiding clients on factors which may include current market trend indicated by demand and supply, future growth potential, price sensitivity and a whole range of related issues. Assignments culminate in a comprehensive report accompanied by detailed financial projections and analysis and recommendations.
- Highlighting the legal implications of the projects and sorting out the ethical considerations to make sure that any project undertaken will meet all legal and ethical requirements before the project is on the table.
I advise foreign entities on the entire process of setting up a business – from the pre-investment stage to the Business Initiation stage. After analyzing the business needs of the client from the market, I advise on what the best entry strategy would be: Liaison Office (also known as: Representative Office) or Branch Office or Project Office or Wholly Owned Subsidiary or through a Joint Venture Partner. Furthermore, guide the clients about the legal and tax implications for taking a strategic decision.
Besides the above, I also provide specialized services in the following areas to foreign entities:
- Preparation of Business Plan.
- Assistance in Entity formation process, including Applications, Registrations, Incorporation etc.
- Obtaining approvals of Governmental bodies,
- Procurement of Human Resources and compliance with Labour Laws.
- Real Estate procurement assistance – Locational Assistance to finalization of Agreements.
Accounting & Book Keeping Services:
Offering comprehensive accounting services to corporate clients who wish to outsource their accounting function to various industries. The services include Journal entries preparation, Posting of Revenue / Sales, Posting of Payments, Petty Cash Accounting, Posting of material received, Payroll accounting, Fixed assets, depreciation, Accounts Receivable, Credit and debit adjustments, Balance Sheet, Cash Flow Statement, Posting of journal entries, Posting of Receipts, Posting of Purchase Invoices, Posting of material issued, Projects Accounting, Administration and general expenses, Banks reconciliation, Accounts Payable reporting, Trial Balance reporting, Profit & Loss Account etc.
- Hiring candidates & placing them on relevant status.
Places your own / chosen candidates or employees on a local legal work permit.
- Developing and implementing remuneration plans and perquisites structures
- Helps clients in expanding existing team or recruiting a new workforce.
- Helping clients to recruit experienced individuals on a temporary or full-time basis.
- Drafts labor contract and other legal documentations.
- Opens Local Bank Account for employees and transfer their wages too.
- Labour laws compliances and dealing its related legal issues
EY Ford Rhods Sidat Hyder & Co.
(A big four audit firm Worldwide) Feb-1994 to Oct-2004 (11 Years)
He has worked for 7 years as Senior Manger Tax after completion of my 4 years registered CA Article-ship [Total 11 years’ experience] at Ford Rhodes Sidat Hyder & Co. Chartered Accountants.
He had performed following tasks as mentioned below;
- Carried out External & Internal audits.
- Financial system analysis.
- Internal control system analysis.
- Inventory management analysis report.
- Flow charting of Financial and Operating cycles.
- Supervision and monitoring of tax cases.
- Assessment and Appellate proceedings.
- Tax compliance-annual and periodical tax returns, withholding tax management.
- Corporate tax planning, counselling and benefit optimization.
- Managing post-return correspondence and representation before tax authorities.
- GAP analysis.
Performed the above-mentioned services on different industries.
Teaching & Literary Experience:
- Writer of many books published by the Professional Business Publications (PBP), a world-renowned name of business publications.
- Also Published some books for Pak Law Publications and then Emile Wolf International, United Kingdom, Annually Up-dating aforesaid books to give effect the changes introduced by the annual budget, SROs, circulars etc. issued from time to time from the legal and regulatory departments of Pakistan.
- Taught students of CA final, CA Foundation, MBA Executive, ICMA students for almost 10 years
- Writer of different Articles on the Daily Dawn, Monthly “Tax”.