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CHARTEREDACCOUNTANTS
Table of Content
Corporate Profile
ZAHID JAMIL & CO
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1. HISTORY OF ZAHID JAMIL & CO ____________________________________________ 1
2. OUR INTERNATIONAL ASSOCIATION ________________________________________ 2
3. ACCREDITATIONS _______________________________________________________ 4
4. SERVICES WE OFFER _____________________________________________________ 5
4.1. Assurance and Audit Services _________________________________________________ 6
4.2. Taxation Laws Services _______________________________________________________ 8
4.3. Corporate Laws and Secretarial services _________________________________________ 8
4.4. Accounting & Book Keeping Services ___________________________________________ 8
4.5. Business Advisory Services____________________________________________________ 9
4.6. Financial Management & Business Consulting Services _____________________________ 9
4.7. Outsourcing Services _______________________________________________________ 10
5. OUR CLIENT BASE ______________________________________________________ 11
6. BOARD OF DIRECTORS __________________________________________________ 12
7. OUR OFFICE LOCATIONS & CONTACT C.E.Os _________________________________ 13
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1.HISTORY OF ZAHID JAMIL & CO
Since the establishment of Zahid Jamil & Co. Chartered Accountants in 1971 by Mr. Suleman
Zahid Jamil (as sole proprietor), the firm has been committed to building wealth and security for
our client by providing traditional accounting, auditing, taxation and consulting services to
closely held businesses. As one of the leading national accounting, audit, tax and consulting firm
in Pakistan, Zahid Jamil & Co has a history of steady growth.
As Zahid Jamil and Co began to grow in numbers and experiences, its service also we offer also
began to expand throughout the 1970s and 1980s. In 1992 a new service line of Information
Technology was established and also during that time, the firm saw continued growth in
financial services area. Human resource consulting services were also provided under the
platform of Zahid Jamil & Co.
In 1997, the firm became member ofBKR International, which is an International Organization of
accounting and audit firms. In 2000 the firm (after resigning from BKR International) joined
Prime Global (Currently Prime Global).
Since 2005, the Firm started to provide Business Risk and ERP (Enterprise Resource Planning)
Consulting Services which include Information System Audit, Business Process Re-engineering,
and Development of customised and industry specific ERP Solutions and Implementation of off
the shelf ERP Solutions.
Now, we continue look towards the future and follow our vision plan. We also remain focused to
our clients needs and continue to develop quality, timely and innovative solutions.
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2.OUR INTERNATIONAL ASSOCIATION
We are a Member Prime Global - one of the biggest association of professional services Firms in
the World. The substantial increase in size for the merged association will enhance Prime Global
member firms' ability to provide resources to meet growing international client demands, as well as
dramatically increase member firms' ability to benchmark and share ideas to improve operations
and profitability.
Founded in 1977 and 1978, IGAF Worldwide and Polaris International moved on a parallel track for
decades, with Polaris growing strong in Europe, and IGAF expanding rapidly in North America. In the
early 1990s, because of the European Common Market, the firms of Fidunion International also saw
the benefits of grouping together. All three associations grew side-by-side, a system sustained by
strong geographic exclusivity. One city, one member, and sometimes one country, one member!
Prime Global numbers over 350 firms in 90 countries, with more than 800 offices, 2,200 partners,
and 17,000 staff offering their thought leadership to help other member firms and their clients
succeed
Prime Global members are typically regional, full-service public accounting and management
consulting firms. These highly successful independent firms, with multiple offices in major
metropolitan areas, provide technical assistance in traditional accounting and auditing, tax services,
and specialized services such as privatization support, fiscal management support, streamlining
accounting systems, litigation, strategic planning, business valuations, information technology
consulting, system planning, and law firm services.
Because Prime Global is one of the largest associations of its kind in the world, it provides member
firms with the strength and capabilities of a large, worldwide organization with diverse technical
skills and geographic representation not possible for a local firm alone. Members exchange technical
advice and assistance in every service performed by the profession. Prime Global members are
selected based on exacting requirements for size, reputation, areas of practice, diverse technical
capabilities, and geographic location. These requirements must be met not only to gain admission
but also to retain membership. Periodic inspections ensure that member firms continue to meet
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these membership requirements.
Disclaimer
"Zahid Jamil & Co is a member of Prime Global, a worldwide association of independent accounting
firms and business advisors. Prime Global does not and cannot offer any professional services to
clients. Each Independent member of Prime Global is a separate firm and an independent legal
entity. Prime Global is not a partnership and independent firms are not acting as agents of Prime
Globalor other independent member firms
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3.ACCREDITATIONS
The firm is on the approved panel of
Securities and Exchange Commission of
Pakistan (SECP)
Institute of Chartered Accountants in
England & Wales (ICAEW)
Institute of Chartered Accountants of
Pakistan
Institute of Cost & Management Accountants
of Pakistan (ICMAP)
Pakistan Institute of Public Finance
Accountants (PIPFA)
State Bank of Pakistan (SBP)
International Air Transport Association (IATA)
Federal Board of Revenue (FBR)
Karachi Stock Exchange (KSE)
Islamabad Stock Exchange (ISE)
Lahore Stock Exchange (LSE)
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4.SERVICES WE OFFER
Zahid Jamil & Co (ZJ) maintains the highest standards of professional independence and quality and
risk management (QRM). It provides a comprehensive range of seamless, consistent, high quality
client services worldwide. These include Assurance & Advisory Business Services (AABS),Tax
Compliance and Advisory Services, Business Risk Services including Internal Audit, Technology &
Security Risk Services (TSRS), Transaction Advisory Services (TAS) including Corporate Advisory
Services and Business Advisory Services (BAS). ZJ recognizes that to deliver real value to its clients, it
must anticipate and address the challenges arising in their industries. One of the key benefits the
Firm offers its clients is its ability to provide integrated services along industry lines.
ZJ in its commitment to observe worldwide professional standards of excellence firmly believes in its
culture, values and conviction. The culture being to be creative, resourceful and decisive, driven
by belief in the dictates of professional independence, integrity, respect and our passion for
excellence. To inculcate strong sense of leadership in our people to lead their teams, it provides
enabling environment to manage their own careers, assume personal responsibilities to serve clients
and exceed their expectations. The leadership culture is all-pervasive throughout the Firm and
provides ample opportunities to our people to be decisive in action, pragmatic in approach, and
aggressive in execution of service.
1.Assurance & Audit Services
2. Taxation Laws Services
3. Corporate Laws & Secretarial services
4. Accounting & Book Keeping Services
5. Business Advisory Services
6. Financial Management & Business Consulting Services
7. Outsourcing services
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4.1. ASSURANCE AND AUDIT SERVICES In a world shrinking in distance and economically becoming increasingly border-less,
the success of the business is pre-dominantly heavily reliant on reliable financial
information which promotes confidence and mitigates an array of uncertainties.
Credible information needs to be corroborated by the desired level and kind of
professional assurance ranging from statutory audit of financial statements to a variety
of other forms of assurances and attestations consistent with the varying needs of theusers of such information. Traditional audit has thus undergone a quantum and
substantive change from auditing the financials to auditing the business.
We provide a wide range of assurance services, with the primary focus on the objective
of assurance on the reliability and relevance of financial information and a host of non-
financial aspects, data, processes, operations and procedures and on the effectiveness and
efficiency of controls.
Our Audit Methodology
Our Audit Methodology enables us to provide effective and efficient delivery of quality assurance
services. The significant features of GAM are a sharp focus on business risks specific to a client, a
higher degree of emphasis on reliability and tests of controls, analytical review, building and
sharing knowledge, skeptical approach, teamwork and Partner - Manager Involvement
through all the significant phases of an audit.
Our principal audit and assurance services include:
Statutory Audit
Tax Audit
Cost Audit
Portfolio Audit
Insurance claims-compilation and validation
Compilation, review and validation of prospective financial statements
Review and compilation assignments
Fraud Investigation and Dispute Services
Statutory Audit
Commonly referred to as financial audit, this is carried out, both for domestic and multinational
enterprises, which may be public or private limited companies, branches of foreign entities,
representative and liaison offices of offshore companies, construction and for other projects,
provident, pension, gratuity and other employee-benefit funds, trusts, charities and non-
governmental organizations. The scope of audit is generally governed by the company law
framework or other statute as applicable. Assurance expressed and communicated through a
professional opinion on the truth and fairness of the financial statements audited constitutes thecore objective of a statutory audit. The audit has to conform to the International Standards on
Auditing (ISAs), issued by the International Federation of Accountants (IFAC), as applicable in
Pakistan.
In addition to the short form opinion on the financial statements, a separate issue-focused
Management Letter or a Memorandum on significant internal control weaknesses and business
risks and issues is provided to the management helping them to take necessary remedial measures
well in time.
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Tax Audit
Both for direct and indirect taxes, tax authorities occasionally engage external
professional assistance to provide assurance on compliance with various aspects of the
Income Tax, Sales Tax and other tax statutes. From a comprehensive assurance on the
declared operating results of a tax payer to any specific aspect of tax compliance, the
scope of engagement varies from case to case depending upon the degree of assurancesought by the tax authority on the reliability of such declarations, taxes withheld and
deposited, input-output adjustment for sales tax purposes and such other aspects of
compliance.
Cost Audit
Assessing cost effectiveness and cost control is becoming an increasing concern of responsible
managements aiming for a growing market share at competitive costs and optimum realisable
prices. Cost audit and studies thus play an important role in optimising use of enterprises
resources and in reaping the benefits of customer-satisfaction. These audits are carried out on a
set of historical costs or based on standard or projected data for achieving specific business
objectives.
In Pakistan, costs audit is mandatory in terms of Company Law requirement for certain classes
of companies engaged in production, processing, manufacturing or mining activities, such as
cement and edible oil industry.
Portfolio Audit
In the context of banks, financial institutions and other enterprises in the financial services
sector, the quality of the loan portfolio has singular significance. Portfolio audit, therefore, is
carried out to determine, by review of records, documents and evaluation of collaterals, the
extent of non-performing accounts and in consequence, assess the adequacy or otherwise of thecorresponding provision for doubtful debts.
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4.2. TAXATION LAWS SERVICES
A. Corporate Taxation Services
B. Tax Due Diligence Review
C. Personal Taxation services
D. General Sales Tax (GST) Planning, consultation, compliance and reporting service
4.3. CORPORATE LAWS AND SECRETARIAL SERVICES
4.1.Strategic Corporate Consultation
4.2.Secretarial and Corporate Compliance Reporting Services
4.3.Public Floatation Services for share and other securities
4.4.Share registrar services
4.5.Privatization
4.6.Foreign Investment Facilitation and Consultation.
4.7.Corporate Governance Enablement
4.8.Liquidation Proceedings
4.9.Advisory Services and Support to Not for Profit Organizations
4.4.ACCOUNTING & BOOK KEEPING SERVICES
1. Use of our staff at the clients premises or Zahid Jamil & Co premises to carry out book
keeping accounting under our supervision.
2. Preparation and analysis of accounts on a periodical basis, for management review.
3. Making out all statements and returns required for submission to the various associations
and government authorities.
4. Providing assistance on preparation of various management and financial reports required
for decision-making.
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5. Offshore online Accounting and Book keeping services are also provided with the help of
offshore book keeping software and high speed DSL Internet Connection.
4.5. BUSINESS ADVISORY SERVICES
1. Foreign Investment Facilitation and Consultation
2. Financial Litigation and Dispute Resolution Support
3. Contract Consulting Services
4.6. FINANCIAL MANAGEMENT & BUSINESS CONSULTING SERVICES
Services are directed towards:
1. Helping clients evolve their mission statements.
2. Strategy development to reap rewards of change which is accelerating exponentially and
manage risks implicit in the venture.
3. Appraise business proposals and develop a range of options for enhancing enterprise value.
4. Identify value drivers of business.
5. Undertaking performance management appraisal.
6. Helping change-management and change-enablement.
7. Assisting in strategic financial planning process.
More specifically, these services include:
4.1.Feasibility studies
4.2.Strategic financial planning and management
4.3.Valuation and appraisal of assets and businesses
4.4.Profit and performance management strategies
4.5.Business strategic planning
4.6.Corporate recovery and turnaround services
4.7.Business Risk Consulting
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4.8.Computer Risk Management (CRM)
4.9.Business Process Re-engineering
4.7.OUTSOURCING SERVICES
Outsourcing of non-core activities and function, on a complete or partial basis, customized to
the specific needs of various clients, have assumed a wide dimension embracing multifarious
task and services which include:
1. Managing finance and accounting department.
2. Undertaking book keeping and accounting task, both manual and technology-based system
including preparation and processing of underlying documents.
3. Payroll preparation and related services4. Internal audit on a comprehensive, continuing or need-specific basis restricted to specific
department, division, function and activities prompted by risk orientation and risk
assessment.
5. Staff secondment on short or long term basis for carrying out various designated functions
under managements own control and supervision.
6. Processing of high-volume transactions involving repetitive function and processes, such as
data input for stand-alone or network solution.
7. Preparation and handling of monthly and periodical returns / statements prescribed under
Income Tax Law, withholding tax statement, challans and related tasks, monthly and
quarterly sales tax returns and reconciliation with related records and Handling of
expatriates executive remuneration matters.
8. Support services to international lending and donor agencies
9. Assistance and coordination in determining and handling payment and tax aspects of dues
payable to employees under severance and retirement benefit schemes, Golden
handshake Schemes or any other
10.Voluntary retirement or severance scheme.
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5.OUR CLIENT BASE
The clients serviced by us are small to large, both in public and private sectors and
are engaged in the following diversified range of business:
Automobile Insurance
Aviation Leasing
Banking and investment Leather and tanning
Broadcasting and electronic media Modarabas and Mutual Funds
Cement and Tiles Oil and gas
Charities, Foundations and NGOs
Paper and allied
Communication Pharmaceuticals and chemicals
Construction Poultry and dairy farm
Distribution Power and utilities
Engineering Publishing and media
Financial Institutions Security and brokerage houses
Food, beverages and allied Share depository
Foreign donor organisations Stock exchanges
Glass and ceramic Sugar
Government agencies Telecommunication
Health care and hospitals Textile and garments
Hospitality Tobacco
Institutions, Clubs and Transport - Airlines and Shipping
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6.BOARD OF DIRECTORS
NAME STATUSAREAS OF
SERVICECONTACT INFORMATION
Suleman Zahid Jamil
FCA,FPA
Chairman/ Founder /
C.E.O Lahore Office
All Services [email protected]
Cell # : 0321-8546565
Muhammad Zakaria Loya
FCA
Director / C.E.O
Karachi Office
Audit & Taxation
Services
Cell #: 0321-2367447
Muhammad Mazhar Arshad
ACA
Direcor / C.E.O
Islamabad Office
Audit & Taxation
Services
Cell #:345- 5544164
Muhammad Amin Sheikh
FCA
Director / C.E.O
Faisalabad Office
Audit & Assurance
Services
Cell #: 0321-8664404
Rasheed Ahmad Sheikh,M.Com, L.L.B , Advocate
Supreme Court of PakistanDirector
Taxation & Other
Laws [email protected]
Cell #: 0300-4746458
Ehtisham Suleman Zahid,
FCCA
Director Taxation &
Accounting
Services
Cell #: 0321-8667565
Arslan Haroon Khawja ACA Director Consulting and
Business Risk
Management
Services
[email protected]# 0300-9722080
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7.OUR OFFICE LOCATIONS & CONTACT C.E.OS
LOCATION CONTACT C.E.O
KARACHI
Abid Chamber (Formerly : Al- Yousuf Chambers)
Sharah e Liaqat, New Challi
Karachi 74200.
Tel : 92 21 2639066, 2639511
Fax : 92- 21- 2621234
E-mail :[email protected]
MUHAMMAD ZAKARIA LOYA
Cell # +92-0321 - 2367447
0321 - 2367447
LAHORE
Office No. 234-235, 2nd Floor
Land Mark Plaza, Jail Road, Lahore
Tel :92-42-35877817-18
Fax : 92-42-35877820
E-mail :[email protected]
SULEAMN ZAHID JAMIL
Cell # +92-321-8546565
FAISALABAD
Al-Jamil Heights, 7-Medina Town
Ext. Kohinoor Chowk Off, Jarnawala Road,
Faisalabad
Tel : 92-41-87205065-68
Fax : 92-41-8725070
E-mail :[email protected]
MUHAMMAD AMIN SHEIKH
Cell # +92-321-8664404
ISLAMABAD
Office # 443, Street # 40,
I 8/2, Islamabad
Tel: 92-51-8317545
Fax: 92-51-4435640
E-mail:[email protected]
Muhammad Mazhar Arshad (ACA)
Cell# +92-345-5544164
mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]