Fakharuddin Yousafali & Co. Chartered Accountants

Pakistan

About Fakharuddin Yousafali & Co. Chartered Accountants

Fakharuddin Yousafali & Company, an ACCA Approved Employer, providing Tax, Audit & Assurance and Accounting services to  clients of all sizes and belonging to all sectors of the economy.

These include audit and accounting services, certifications and related services.

Tax:
Multinational companies, Pakistani Public and Private Limited companies, Family businesses, individuals— we have the resources and skills to help them all address the complex issues of taxation.

Company Secretarial:
This involves providing assistance to the company secretary and advising the company in all aspects of the Companies Act, 2017.

Business Consulting:
We have been actively involved in Application Software Selection and Implementation as well as Systems Design and Implementation.

Outsourcing:
We have successfully provided outsourcing services to our clients in finance and accounting, internal auditing, tax, information technology and other business processes

 

Brief outline of the various services being provided by us is as follows.

Audit, Investigations and Accounting Services

Audit:

  • Our firm audits financial statements of limited companies incorporated under the Companies Act, 2017.
  • As a company's auditors we have a statutory responsibility, inter alia, to report to the members whether in our opinion the financial statements give a true and fair view of the state of the company’s affairs and of the profit or loss for the year and whether they comply with the Companies Act, 2017.
  • All our audits are conducted in accordance with the International Auditing Standards and have regard to relevant Auditing Guidelines. Furthermore, the audits are conducted in such a manner, as we consider necessary to fulfill our responsibilities and include such tests of transactions and of the existence, ownership and valuation of assets and liabilities as we consider necessary.
  • The audits result in our expressing an independent opinion on the financial statements. These help companies identify manage and minimize integrity risks such as suspected or alleged employee fraud and other illegal acts that threaten a company’s financial performance and reputation.

Investigations and Special audits:

  • Our firm has carried out Investigations and Special Audits of Public Limited Companies and on behalf of Government organizations - such as special audits of Insurance Companies (Controlled by the Department of Insurance), Cooperative Societies (registered with the Registrar of Cooperative Societies), Educational Institutions, and other non-profit organizations.
  • Accounting and regulatory advice - We regularly advise our clients on corporate structures, technical accounting matters and carry out review of treasury operations, finance function and outsourcing proposals. Also services are provided to ensure compliance with current and new regulations and for obtaining new authorizations.

Taxation Services.

Tax Consulting Services:

  • Our expertise is in formulation of tax strategy and tax planning in respect of taxes on income, Sales Tax & Sales Tax on Services.

Tax Controversies

  • We provides advice and assistance to clients at all stages of a tax dispute, including representations before the Federal Board of Revenue and assisting legal counsel in preparing appeals to the higher courts.

Compliance Services

  • Preparation of Income Tax Computations in accordance with the provisions of the Income Tax Ordinance, for the purpose of assessment to Income tax, and submission of the same to the Federal Board of Revenue.
  • Representations before the assessing officers and higher Tax Authorities for finalizing the audit and assessment.
  • Preparing and filing appeals against assessments and making representations before the appellate authorities.
  • Preparation and filing of monthly, quarterly, annual and other periodical statements / returns required to be filed with the Income Tax Authorities.
  • Compliance with all other notices received from the Income Tax Authorities.

Sales Tax:

  • We assist clients on Sales Tax and other indirect tax issues affecting production and sales of goods and services and preparation and submission of Sales Tax Returns.
  • Individual Services - Personal financial planning /Family Wealth Consulting
  • We provide services to an array of clients- High net worth individuals, corporate executives, professional service partners and broad based employee groups—We help individuals maximize their wealth through compensation and investment advisory planning, tax planning, and compliance and cash flow management.

International Tax Services:

  • We advise clients to help them minimize the worldwide tax burden on their business transactions, understand international tax developments and make effective foreign investments.

Company Secretarial:

  • Providing assistance to the company secretary by preparing and lodging annual and other returns with the Registrar of Companies under the Companies Act, 2017.
  • Maintenance of all records required to be maintained under the Companies Act, 2017.
  • Advising the company in all aspects of the Companies Act, 2017.
  • Making representations before the Securities and Exchange Commission of Pakistan and its subordinate offices.

Business Consulting:
Business consulting comprises a wide range of professional services and the areas in which we have developed expertise are as follows:

Application Software Selection and Implementation:

  • Development of computer based accounting and Management Information Systems; this includes the selection of specialists for the designing and development of software, the development and designing of the software.

Systems Design and Implementation:

  • This involves design and / or implement system solutions to solve specific business problems.

Outsourcing:

  • This is defined as the movement of in-house work to an external supplier and helps companies to focus on their core business processes, while converting cost centers into service operations.
  • We provide world class outsourcing services in finance and accounting, internal auditing, tax, information technology and other business processes.

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