BACKGROUND BRIEF - hfc-bd.com · BACKGROUND BRIEF - C0ntd… ... M.com. (Accounting) ICAB # 1090 ... Manual A fastest growing Partnership firm in Accounting profession in the Country

BACKGROUND BRIEF

AKM Fazlul Haque FCA

M Farhad Hussain FCA

Ashraful Ameen FCA

Md. Sayeedur Rahman FCA

Oishee Labina Hussain ACA

Esha Nbila Hussain ACA

A fastest growing Partnership firm in Accounting profession in the CountryA fastest growing Partnership firm in Accounting profession in the Country

BACKGROUND BRIEF - C0ntd…In

tern

atio

nal A

ffili

atio

n &

Aut

hori

sed

Trai

ning

Empl

oyer

2009 to date 2014 to date

Licensed to practice under ICAB, Bye law 1973 Membership:DCCI

Moved our office 3 times, each time requiring more than double the

previous office spaceA fastest growing Partnership firm in Accounting profession in the CountryA fastest growing Partnership firm in Accounting profession in the Country

Our vision is to serve our clients and be the most trustedservice provider in our field, go on improving ourselves byretaining our growth and drive, and develop the skill offoreseeing issues before they arise.

Our mission is to provide high quality service by upholdingour professional standards and without compromising eventhe slightest in our ethical ground.

OUR VISION & MISSION

Our vision is to serve our clients and be the most trustedservice provider in our field, go on improving ourselves byretaining our growth and drive, and develop the skill offoreseeing issues before they arise.

Our mission is to provide high quality service by upholdingour professional standards and without compromising eventhe slightest in our ethical ground.


• Recognise the changes in Economy/Business Environment such as focus onvalue, dynamic business and organization structures, developments inInformation Technology, new Government policies, globalization of businessand competitive pressures.

• Recognise the path to success by adapting to the changes, knowledgemanagement and acquiring skills to work with future environment influencedby technological and other changes.

• Recongnise the opportunities in the emerging areas such as new audit andassurance needs, performance measurement services, strategy management,general practice specialization and servicing global organizations.

• Recognize the need to be known as world class advisor.

STRATEGIC AIM

• Recognise the changes in Economy/Business Environment such as focus onvalue, dynamic business and organization structures, developments inInformation Technology, new Government policies, globalization of businessand competitive pressures.

• Recognise the path to success by adapting to the changes, knowledgemanagement and acquiring skills to work with future environment influencedby technological and other changes.

• Recongnise the opportunities in the emerging areas such as new audit andassurance needs, performance measurement services, strategy management,general practice specialization and servicing global organizations.

• Recognize the need to be known as world class advisor.


Devising plans and actions to do more in the faster changing technology market

Helping our clientele to be more IFRS and regulatory compliant

Presenting global standard in the service with the assistance of global leader in the profession

WE WISH TO ACHIEVE OUR DREAM THROUGH

Strengthening technical collaboration with the global partners

Diversifying competency development programs for the in-house human resources

Ensuring proper succession planning with reference to our mission, vision and strategic aim

Remaining aligned with regional and global philosophy of business growth

Maintaining regular communications with international firms pursuing regional and globalopportunities


Creating greater access to RMG, Multinational Companies, Tourism & Hospitality,Pharmaceuticals, SMEs and Heavy Industries sector

ORGANISATIONAL STRENGTHS

PARTNERS – Partnership wiseone of the largest firms in

BANGLADESH66Ranked number fifteen by The

Central Bank of Bangladesh. TheBangladesh Securities & Exchange

Commission (BSEC) also officially usesthis ranking.

1515

PERSONNEL – one of thefastest growing firms in

BANGLADESH120120

We have fast periodicranking growth by the

Bangladesh Bank

RankingGrowthRankingGrowth

PERSONNEL – one of thefastest growing firms in

BANGLADESH120120

We have fast periodicranking growth by the

Bangladesh Bank

RankingGrowthRankingGrowth

PARTNERS of HFC have worked on various international assignments inSingapore and India


Bangladesh Bank Ranking


ORGANISATIONAL STRENGTHS

PARTNER – Council Memberof ICAB11 PARTNER – Ex President of

ICAB11

11

PARTNER – Ex BoardMember of Confederation of

Asian and PacificAccountants (CAPA)

11 55 PARTNERS have workingexperience in the seniorpositions in corporates

11 DIRECTOR – Ex-Member(Policy) of NBR11

Believe in Women Empowerment

HFC Partners represent in Executive Committee, Investigation and Disciplinary Committee,Articled Students Committee, Quality Assurance Board, Board of Studies, Editorial Board,

Professional Development Committee and SMP Committee of ICAB

Representation in ICAB Council since 2000

Barrister - In LegalDepartment11


ARTICLED Students (80)Part Qualified (35)

Other (45)8080

HUMAN RESOURCE STRENGTHS

CA FEMALE Students13%13%

Managerial and SupervisoryStaff

PART QUALIFIED CharteredAccountants and Chartered Certified

Accountants

1414

Trainee-CA (70)Trainee-ACCA (9)Trainee- ICAEW(1)

8080 Supporting Staff2626

ARTICLED Students (80)Part Qualified (35)

Other (45)8080 13%13%


SUCCESSION PLANNING & RETENTION

1NUMBER OF PARTNERS

1997

32011

62014

22000

42012

Retention of Intelligent Brains with Leadership Quality and providing goodCareer Path within the Firm.

3 of the above partners joined in the partnership who had progressed within thefirm to become PARTNER


PARTNERS IN 2015

M Farhad Hussain, FCAFOU

NDI

NG

PART

NER

Ashraful Ameen,FCA

AKM Fazlul Haque,FCA

Md. Sayeedur Rahman,FCA

Oishee Labina Hussain,ACA

Esha Nabila HussainACA

NEW

PAR

TNER

S

Average Age of Partners: 45 YearsA fastest growing Partnership firm in Accounting profession in the CountryA fastest growing Partnership firm in Accounting profession in the Country

• 40+ years of working experience• Active in Audit & Assurance services• Former President of the ICAB and Council Member for

many years• Former board member of CAPA• Chairman- SMP committee of ICAB• Dealing with other developments of the ICAB representing

as member in many council committees• Dealing with various development work of Dhaka Club

limited representing as its Chairman-Finance subcommittee

• Worked abroad in UK, Singapore, India and Malaysia.






M Farhad Hussain, FCAICAB # 452

PARTNERS-OUR LEADERS











BackA fastest growing Partnership firm in Accounting profession in the CountryA fastest growing Partnership firm in Accounting profession in the Country

Ashraful Ameen, FCAM. Com.(Economics)ICAB # 513

Mr. Ashraful Ameen FCA, who had his educationin Bangladesh and England and qualified asChartered Accountant from ICAB. Mr. AshrafulAmeen has 37 years of experience in the fieldof accounting and auditing along with fourand half years experience in U.K (London)covering Accountancy, Auditing and Taxationarea.





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Mr. A. K. M. Fazlul Haque FCA, has 18 years of experiencein auditing , accounting, evaluation of managementperformances, financial analysis, company secretarialaffairs’ and taxation.

AKM Fazlul Haque, FCAM.com. (Accounting)ICAB # 1090


Mr. A. K. M. Fazlul Haque FCA, has 18 years of experiencein auditing , accounting, evaluation of managementperformances, financial analysis, company secretarialaffairs’ and taxation.

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Md. Sayeedur Rahman, FCAB.Com.ICAB # 149

Mr. Md. Sayeedur Rahman FCA is a fellow member of theInstitute of Chartered Accountants of Bangladesh(ICAB) andhe has enormous exposure in carrying out audit andconsultancy assignments. Prior to joining HFC he worked forthe subsidiary companies of internationally reputedmultinational companies such as Philips Bangladesh Ltd,Tootal Thread Bangladesh Ltd. (At Present – CoatsBangladesh Ltd), Van Happen Fashion Manufacturing Ltd.He has gained experience in multi ethnic and multiculturalenvironments. He is specialized in financial accounting,audit, tax and in the provisioning of services.


Mr. Md. Sayeedur Rahman FCA is a fellow member of theInstitute of Chartered Accountants of Bangladesh(ICAB) andhe has enormous exposure in carrying out audit andconsultancy assignments. Prior to joining HFC he worked forthe subsidiary companies of internationally reputedmultinational companies such as Philips Bangladesh Ltd,Tootal Thread Bangladesh Ltd. (At Present – CoatsBangladesh Ltd), Van Happen Fashion Manufacturing Ltd.He has gained experience in multi ethnic and multiculturalenvironments. He is specialized in financial accounting,audit, tax and in the provisioning of services.


Ms Oishee Labina Hussain ACA, has 5 years of experiencein Banking, auditing , accounting, evaluation ofmanagement performances and financial analysis.

Oishee Labina Hussain, ACAA LevelICAB # 1341



Esha Nabila Hussain, ACAA LevelICAB # 1397

Ms Esha Nabila Hussain ACA, has 4 years ofexperience in auditing , accounting, evaluation ofmanagement performances and financial analysis.


Ms Esha Nabila Hussain ACA, has 4 years ofexperience in auditing , accounting, evaluation ofmanagement performances and financial analysis.


QUALITY ASSURANCE

ICABHFC is subject to periodic Quality Assurance Review by theQuality Assurance Department of ICAB.

ASNAFHFC participates in the ASNAF Program which requires HFCt0 be subjected, periodically, to a quality control review.

EXTE

RNAL

QualityAssurance Team

ConcurringPartner Review

Every Audit Assignment is subject to ConcurringPartner Review

MultiLevel Review

Review at each level (Audit staff/ Audit in-charge/Supervisor/ Manager/ Partner)

Cold and HotReview of Audit

Files

ContinuousCompliance

Testing

Development ofvarious process

SOPs

INTE

RNAL


QUALITY ASSURANCE

Introduction ofcomputerized

Audit

INTE

RNAL

Introduced computerized audit system, Continuous on-the-joband classroom training for continuous development of ableworkforce.

Implementationof Audit Practice

Manual

INTE

RNAL


Implementing the Audit Practice Manual (APM) mandated bythe Institute of Chartered Accountants of Bangladesh which isin line with ICAEW Practice Manual

TRAINING AND PROFESSIONAL DEVELOPMENT INITIATIVES

Training on Computerized Auditing System

Training of the Managers by Subject Matter Specialists and Industry Experts

Program of sending staff members to attend in Various Training/Workshopsarranged by expert group.

Regular participation in CPD Seminars, Workshops and Conferences organized byICAB & SAFA

APM, Bangladesh Financial Reporting Standards(BFRSs), Bangladesh Standards on Auditing (BSAs) andVarious other Professional Matters

Regular In-HouseTraining

Regulatory Compliance Issues, Laws and Regulations

Taxation and VAT Matters

Regular participation in CPD Seminars, Workshops and Conferences organized byICAB & SAFA


Partners attended different WORKSHOPS, SEMINARS, CONFERENCESAND TRAINING held in

Australia

India Malaysia Nepal

Canada Italy ThailandChina

Indonesia Maldives

TRAINING AND PROFESSIONAL DEVELOPMENT INITIATIVES

South Korea

Pakistan

United KingdomThailand

SingaporePhilippines Sri Lanka


Japan New Zealand Switzerland

ATTRACTING GOOD STUDENTS

• Providing extra allowance for attracting brilliant students to HFC

• Selection of students through proper screening process

• Ensuring good work environment

• Providing adequate study leave facilities to the students• Providing adequate study leave facilities to the students


PHYSICAL FACILITIES

• Fully air-conditioned office (Floor Space) 5,200 sq. ft.

• 30 seated large training space

• Corporate conference meeting room

• 21 Desktop Computers and 50 Laptops

• 5 High resolution printers, 3 Scanners & 1 Multifunction Photocopier• 5 High resolution printers, 3 Scanners & 1 Multifunction Photocopier

• Full Wi-Fi Coverage & Own data server

• 6 motor cars for transport facility

• Dedicated specialist IT team


• 20 seated students study room during office and off hours

Audit & Assurance

Business Advisory

Inventory Management

Business Process Outsourcing

Details

Details

Details

Details

OUR SERVICE LINESA

dvis

ory

Taxation

Business Process Outsourcing

Other Business Services

Details

Details

Details

Go Next

Adv

isor

y


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OUR SERVICE LINE - AUDIT & ASSURANCE

Statutory audit Management audit Internal audit Compliance audit Performance audit Financial review Special audit


Statutory audit Management audit Internal audit Compliance audit Performance audit Financial review Special audit

Practice management training. Designing computerized accounting information systems and implementation Feasibility study of projects Helping clients in implementing international and local accounting standards Accounting service Human Resource development Management consultation Preparation of policy guidelines and Standard Operating Procedures (SOPs) in

respect of finance, accounts, internal control, inventory, procurement,operation, administration, human resources, etc.

Services regarding share issue, right issue, initial public offering, prospectus,etc.

System development

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OUR SERVICE LINE - BUSINESS ADVISORY

Practice management training. Designing computerized accounting information systems and implementation Feasibility study of projects Helping clients in implementing international and local accounting standards Accounting service Human Resource development Management consultation Preparation of policy guidelines and Standard Operating Procedures (SOPs) in

respect of finance, accounts, internal control, inventory, procurement,operation, administration, human resources, etc.

Services regarding share issue, right issue, initial public offering, prospectus,etc.

System development


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Fixed Assets Inventory counting & reconciliation Material quantity reconciliation Designing effective and efficient inventory recording

system Implementing inventory control system

OUR SERVICE LINE – INVENTORY MANAGEMENT


Accounting, payroll, provident fund, employeeclaim settlement

Filling, Documentation Back fill support in large corporate in

accounting/finance/internal audit

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OUR SERVICE LINE - BUSINESS PROCESS OUTSOURCING

Accounting, payroll, provident fund, employeeclaim settlement

Filling, Documentation Back fill support in large corporate in

accounting/finance/internal audit


Procurement Audit Business Valuation Property Valuation Company acquisition, merger, spin off, amalgamation etc. Liquidation and winding-up of companies Companies’ registration with Board of Investment, Ministry of Industries, etc. Bank accounts opening for foreign clients Obtaining permission from the central bank regarding inward and outward

remittance Obtaining trade license, factory license, Import Registration Certificate, Export

Registration Certificate, Bonded warehouse facility, VAT registration, Membershipof Trade

Providing services regarding setting up of office, drafting rent/lease agreement,recruitments of staff, etc.

Company formation and secretarial work Setting up branch office and setting up Liaison office

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OUR SERVICE LINE - OTHER SERVICES

Procurement Audit Business Valuation Property Valuation Company acquisition, merger, spin off, amalgamation etc. Liquidation and winding-up of companies Companies’ registration with Board of Investment, Ministry of Industries, etc. Bank accounts opening for foreign clients Obtaining permission from the central bank regarding inward and outward

remittance Obtaining trade license, factory license, Import Registration Certificate, Export

Registration Certificate, Bonded warehouse facility, VAT registration, Membershipof Trade

Providing services regarding setting up of office, drafting rent/lease agreement,recruitments of staff, etc.

Company formation and secretarial work Setting up branch office and setting up Liaison office


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OUR SERVICE LINE - TAXATION

Taxation-individuals, companies, banks,branch offices, Liaison offices

Tax planning and tax management of local andmultinational companies

Tax and VAT compliance audit Tax & VAT Consulting Training on Tax & VAT


Taxation-individuals, companies, banks,branch offices, Liaison offices

Tax planning and tax management of local andmultinational companies

Tax and VAT compliance audit Tax & VAT Consulting Training on Tax & VAT

HFC IN NEXT 5 YEARS

We hope to

Be part of global leaders in accounting profession

Continue to improve the quality of our services

Continue improvement on our current market position


Continue improvement on our current market position

Open branch (s) in major cities, if required

Win a leading position by students qualified as CA

Steady Growth in terms of revenue

THE ICABThe Institute of Chartered Accountants of Bangladesh (ICAB) is the National Professional

Accounting Body of Bangladesh established under the Bangladesh Chartered AccountantsOrder 1973 (Presidential Order No. 2 of 1973).

The Ministry of Commerce, Government of the People's Republic of Bangladesh is theadministrative Ministry of ICAB.

Members in Practice368368Total ICAB Members14991499 368

Proprietorship Firms7676 Partnership Firms9696

Member entitled to trainarticled student271271 Member resident in

Bangladesh13471347

1499


Official Name : People’s Republic of Bangladesh Political System : Parliamentary Democracy Population : 158,570,535 (October 2014 est.) Area : 147,570 km2 Time Zone : GMT+6 Hours Dialing Code : +880 GDP Total : Nominal-$173.82 Billion (2014 est.) GDP Per Capita : Nominal-$1,180 (2014 est.) GDP Growth : 6.12% (2014 est.) Total Exports : $30.17 billion (2014 est.) Total Imports : $29.01 billion (2014 est.) Budget : revenues: $23.64 bil.(2014 est.)

expenditures: $32.36 bil.(2014 est.) Forex Reserve : $25 billion (2015 est.) Major Maritime Ports: Chittagong, Mongla Currency : BDT 77.70 per USD (approx.) Major Cities : Dhaka, Chittagong, Khulna, Sylhet,

Rajshahi, Barisal, Rangpur

INDIA

CHINA

INDIA

BANGLADESH IN BRIEF

Official Name : People’s Republic of Bangladesh Political System : Parliamentary Democracy Population : 158,570,535 (October 2014 est.) Area : 147,570 km2 Time Zone : GMT+6 Hours Dialing Code : +880 GDP Total : Nominal-$173.82 Billion (2014 est.) GDP Per Capita : Nominal-$1,180 (2014 est.) GDP Growth : 6.12% (2014 est.) Total Exports : $30.17 billion (2014 est.) Total Imports : $29.01 billion (2014 est.) Budget : revenues: $23.64 bil.(2014 est.)

expenditures: $32.36 bil.(2014 est.) Forex Reserve : $25 billion (2015 est.) Major Maritime Ports: Chittagong, Mongla Currency : BDT 77.70 per USD (approx.) Major Cities : Dhaka, Chittagong, Khulna, Sylhet,

Rajshahi, Barisal, Rangpur

DHAKA

KHULNA

RAJSHAHI

SYLHET

CHITTAGONG

BARISAL

INDIA

INDIA

200 miles500 km


House # 15, Road # 12, Block # FNiketon, Gulshan-1

Dhaka-1212, BangladeshTel # +88 02 8836015 to 7

www.hfc-bd.comEmail: [email protected]





Member Of

Authorised Training Employer








Member Of

Authorised Training Employer

Documents

BACKGROUND BRIEF - hfc-bd.com · BACKGROUND BRIEF - C0ntd… ... M.com. (Accounting) ICAB # 1090 ... Manual A fastest growing Partnership firm in Accounting profession in the Country