International affiliation
SFACO has been working as an Independent Member Firm with HLB International Ltd, UK since 2016.
SFACO has had, over the years 1975 to 1993, been the Technical Assistance Firm with the globally renowned firms, Arthur Young & Co, and then from 1993 to 2014 with Ernst & Young International, Inc, with headquarters in New York, USA, one of the top four (4) accounting and management consultancy firms of the world. Ernst & Young was formed with the merger of two former global accounting firms, Arthur Young & Company and Ernst & Whinney, both headquartered in USA.
SFACO experience
SFACO’s experience covers rendering the entire range of services from the incorporation of a company up to its liquidation including its regular compliances, management consultancy, auditing, accounting, corporate and individuals’ taxation, VAT compliance and advisory, company secretarial services, due diligence services, valuation of companies including their lands and buildings, obtaining various licenses from relevant authorities, registration with Bangladesh Investment Development Authority, immigration advisory services (global mobility), etc. SFACO has undertaken many assignments financed by World Bank, Asian Development Bank, IFC and EC either on its own or in association with foreign consultants, for international agencies, namely, DFID (former ODA), USAID, Ford Foundation, CIDA, GTZ, NORAD, SIDA, DGIS, DANIDA, UNDP, UNICEF, UNESCO, UNFPA, WFP and FAO as well as the leading NGOs functioning in the country with foreign donations.
SFACO has advised multinational firms engaged in oil and gas exploration, generation of power and other forms of energy, like, Shell Bangladesh Exploration & Development BV of the Netherlands, Cairn Energy Group of UK, Santos Sangu Field Ltd of Australia, Halliburton International Inc of USA, Okland (Tullow) of USA, KrisEnergy Bangladesh Ltd of The Netherlands, Niko Resources of Canada, AES Haripur (Pvt) Limited, AES Meghnaghat Limited (the last 2 acquired in Bangladesh by Globeleq/CDC of UK), Mobil of Singapore, Forasol (Pride Foramer ) of France, Schlumberger of France, Siemens AG of Germany, Mitsui Engineering & Shipbuilding Co., Ltd of Japan, Pan Asian Corporation Ltd of Australia, Asia Energy Corporation (Bangladesh) Pty Ltd of Australia, etc. For the oil and gas exploration companies, SFACO successfully developed models for filing corporate income tax returns and for their assessment in agreement with the tax authorities, while for investors for setting up hospitals SFACO was instrumental in securing the Government agreement and release of a notification allowing tax-free imports of all equipment, accessories, etc for hospitals in the country.
SFACO conducted, collaborated and reported on due diligence and subsequent acquisition of ownership of, among others, Rupali Bank Limited (Bangladesh) for the sellers, Government of Bangladesh (1985); Bangladesh operations of Nova Scotia Bank (Canada) for the purchasers, Bank Asia Limited (2001); Muslim Commercial Bank Limited (Pakistan) for the purchasers, Bank Asia Limited (2001); Credit Agricole Indosuez (France) for the sellers, CAI (2003); and 2 power projects of AES, Haripur Power Ltd and Meghnaghat Power Ltd, purchased in Bangladesh by Globeleq/CDC of UK for Globeleq/CDC (2003), as well as twice conducted the evaluation of net worth of Sonali Bank Limited (1997-98 and 2003), largest nationalized commercial bank in Bangladesh keeping liaison with Bangladesh Bank, the central bank of the country, World Bank, and International Monetary Fund (IMF) and participated with the foreign firm in evaluating Rupali Bank Limited (2004) for sale. In 2005, SFACO organized, collaborated and participated in the handling of the listing by the London Office of Ernst & Young for GDR floatation of one of the leading pharmaceutical companies of Bangladesh on the AIM market in London which event took place in Bangladesh for the first time.
SFACO has developed Financial Management Manual and Risk-based Auditing Manual for Bangladesh Bank (2008-2009).
SFACO has developed Financial Management Software for Bangladesh Telecommunication Company Limited (Government-owned public company) (2010-2015).
SFACO has developed Risk Based Internal Audit Manual, Training Manual along with Capacity Building for Internal Audit Unit and Internal Audit Management Software for Local Government Engineering Department (LGED) 2021-2023.
SFACO has conducted number of Risk based Internal Audit of Projects on the different Ministries and departments of Govt. of Bangladesh namely LGED, RHD, Ministry of Health, Ministry of Commerce, Agricultural Ministry, Higher and Secondary Education Department under the Ministry of Education, Ministry of Environment Forest and Climate Change and Department of Livestock.
Hewlett-Packard, Novartis, Schlumberger, Western Union, JP Morgan, and also a large number of international corporate firms engaged in manufacturing, banking, leasing, etc. on various issues of taxation, foreign exchange regulations, compliance, assurance and other related matters.
SFACO has undertaken numerous assignments for the rationalization and critical review, analysis and evaluation of performance of various levels of management of Bangladesh Government organs and agencies as well as of a wide range of non-Government clients in specified areas.
SFACO serves as a regular contributor to the Corporate and Individual Chapters on Bangladesh of tax-related reports to International Bureau of Fiscal Documentation, Amsterdam, the Netherlands.
General information of S. F. Ahmed & Co.
| Type of Organization | Partnership Firm registered under Bangladesh Partnership Act, 1932 |
| Firm Registration No. | 10898 E.P of 1958 dated 12 July 1958 |
| Income Tax Identification No. | 764300303487, Taxes Circle-172, Taxes Zone-08, Dhaka |
| VAT/BIN Registration No. | 000474788-0101 |
| Trade License No. | TRAD/DNCC/075665/2022 dated 10 October 2022 |
