Hoda Vasi Chowdhury & Co

What Hoda Vasi Chowdhury & Co does

Hoda Vasi Chowdhury & Co (HVC) is one of the oldest chartered accountancy and professional services firms in Bangladesh, tracing its lineage to A F Ferguson & Co, a Scottish firm that began practice in Chittagong in 1962 and opened a Dhaka office in 1963. Following Bangladesh's independence in 1972, the practice was renamed HVC and subsequently restructured with multiple partner inductions in 1998, 2001, and 2014. The firm operates a partnership model with 200+ professionals averaging 20 years of experience, supported by 28 admin and support staff across two offices in Dhaka (national office at Kawran Bazar) and Chittagong. HVC holds USAID project-audit approval (1993) and ICAEW Authorised ACA Training Employer status (2014).

The firm delivers eight core service lines: Audit and Assurance (statutory, internal, Basel II implementation), Fiscal and Taxation (corporate tax, VAT, transfer pricing, expatriate tax), Business Advisory and Transaction Services (due diligence, valuation, IPO assistance, restructuring), Management Consulting (development project management, donor-funded assistance, IT systems design, executive search), Business Process Outsourcing (payroll, bookkeeping, secretarial), a Health and Nutrition Wing, International Assignments, and a Foreign Direct Investment advisory. HVC is governed by a partnership of six named partners, with several holding international credentials (ICAEW, ICAB, CBV, IVS) and prior Big 4 tenure, notably a Partner with nearly 10 years at KPMG Australia and a MESA secondment. Senior Partner M Munjurul Hassan leads development-partner and health-sector consulting; Senior Partner A F Nesaruddin leads statutory audit and transaction services for MNC and listed clients; Sabbir Ahmed leads financial reporting (IFRS, US GAAP), Basel II, and SOX 404 advisory.

HVC serves over 1,000 clients across banking, telecom, power and petroleum, pharmaceuticals and chemicals, manufacturing, hospitality, international NGOs, and development partners (World Bank, ADB, IDB, USAID, DFID, UNICEF), with revenue generated on a value-based professional services fee structure. International engagements have been executed in Tajikistan, Afghanistan, Tanzania, Uganda, and Thailand via partnerships with multilateral agencies. The go-to-market is enterprise field sales driven by partner-led client relationships and professional-network referrals rather than active digital marketing. The firm does not disclose revenue, has no external investors or parent, and operates exclusively as an independent partnership.

Name

Hoda Vasi Chowdhury & Co

Legal name

Hoda Vasi Chowdhury & Co

Website

https://hodavasi.com

Company type

Private

Founded year

1962

Operating status

Operating

Headcount range

251–500 employees

Short description

Hoda Vasi Chowdhury & Co is a Bangladeshi chartered accountancy and professional services firm offering audit, tax, advisory, BPO, and management consulting services to over 1,000 clients across banking, telecom, energy, pharmaceuticals, and international development sectors, operating from Dhaka and Chittagong.

Ownership category

akta.pro rank

Headquarters

HQ city

Patiya

HQ country

Bangladesh

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Audit and Assurance Services: Statutory/annual audit, special purpose audit/review, agreed upon procedures, internal audit, operational audit, performance and compliance audit, Basel II implementation
2. Fiscal and Taxation: Corporate tax, VAT, indirect tax, individual tax including expatriate tax, tax advisory, planning, compliance, due diligence, transfer pricing
3. Business Advisory and Transaction Services: Due diligence, business valuation, corporate restructuring, IPO assistance, capital market advisory, joint venture, feasibility study, company formation
4. Management Consulting: Development project management, donor funded project assistance, IT systems design, executive search, forensic investigation, training and capacity building
5. Business Process Outsourcing: Payroll management, bookkeeping, accounting, secretarial services, airlines remittance, quarterly return preparation, document management, immigration and visa services
6. Health and Nutrition Services: Training and capacity building for government and non-government organizations, project evaluation, monitoring and impact assessment

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Hoda Vasi Chowdhury & Co (HVC) is a chartered-accountancy professional services firm providing audit and assurance, fiscal and taxation, business advisory and transaction, management consulting, and business process outsourcing services to enterprises, financial institutions, government bodies, and international development organizations in Bangladesh. The firm combines statutory audit, tax compliance and planning, due diligence and valuation, IFRS/US GAAP reporting, Basel II implementation, payroll and bookkeeping outsourcing, and donor-funded project consulting under a partner-supervised engagement model.

Product overview

Hoda Vasi Chowdhury & Co (HVC) is a professional services firm offering a comprehensive portfolio of interconnected advisory and assurance services. The firm operates as a unified service practice rather than a platform-plus-modules architecture, providing eight core service lines: Audit and Assurance Services, Fiscal and Taxation Services, Business Advisory and Transaction Services, Management Consulting Services, Business Process Outsourcing (BPO), Health and Nutrition Wing, International Assignments, and a specialized Basel II Implementation Service. These services are designed to work both independently and in combination to address the full spectrum of financial, regulatory, and operational needs of clients across Bangladesh's banking, corporate, and development sectors.

Differentiator

Problem solved

Functional benefit

Products and services

• Audit and Assurance Services Comprehensive audit and assurance offerings including statutory/annual audit, special purpose audit/review, agreed upon procedures, negative assurance, interim review, internal audit, operational audit, performance and compliance audit, corporate governance, US GAAP/US GAAS reporting, and Basel II implementation support. Intended for enterprises, financial institutions, and donor-funded project owners in Bangladesh.
• Fiscal and Taxation Services Tax and fiscal advisory services covering corporate tax, value added tax (VAT), other indirect tax, individual tax including expatriate tax, tax advisory, tax planning and compliance, tax due diligence, and transfer pricing. Intended for corporate and individual taxpayers operating in Bangladesh.
• Business Advisory and Transaction Services Transaction and advisory services including due diligence, business valuation, corporate restructuring, IPO assistance, capital market advisory, joint venture and business collaboration, feasibility study, technical collaboration, company formation and corporate services, setting up liaison/branch office, enterprise risk management, information security and risk management, setting up provident/gratuity/pension funds, and market research. Intended for corporate clients, M&A sponsors, and foreign companies entering Bangladesh.
• Management Consulting Services Management consulting offerings including development project management, donor funded project assistance, IT systems design and implementation, executive search and selection, immigration verification services, foreign remittance, forensic investigation, salary survey, training and capacity building, financial system design, accounting manual and chart of accounts preparation, health and nutrition surveys, and work permit and visa processing for expatriates. Intended for NGOs, development partners, government entities, and corporate clients.
• Business Process Outsourcing (BPO) Outsourcing services covering payroll management, book-keeping and accounting, secretarial services, airlines remittance services, quarterly return preparation and filing, document management and record keeping, and immigration and visa services. Intended for corporate clients and individuals needing operational support services.
• Health and Nutrition Wing Specialized division providing health, nutrition and population consulting services, training and capacity building for government and non-government organizations, business due diligences, organizational restructuring, review of systems and business processes, and managing, evaluating, appraising and development projects. Intended for development partners, government, and non-government health-sector organizations.
• International Assignments Cross-border professional services including audit of microcredit operations, special purpose audits for development projects, training workshops on financial management, capacity building for tax officials, and development of financial and HR manuals for international operations across Tajikistan, Tanzania, Uganda, Thailand, and Afghanistan.
• Basel II Implementation Service Specialized risk management advisory service helping financial institutions implement the Basel II framework, including defining implementation strategy, formulating implementation plans, risk assessment and management procedures, credit assessment mapping, IT systems design for Basel II compliance, and preparation for Pillar Two and Three requirements. Intended for Bangladesh banks and financial institutions.

Quantifiable outcome

• Trained 1,269 participants from 14 Implementing Partners on HACT framework
• +2 more outcomes

Named customers24 records

Segments8 records

Ideal customer profiles7 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Ten partnerships are on record, tiered core and minor.

• Asian Development Bank (ADB)coreStrategic or Co-development Partner · 1 January 2011Conducted special purpose audit for loans and grants from ADB for financing long term development projects in Tajikistan, following ISA guidelines and ADB financial governance standards.
• Islamic Development Bank (IDB)coreStrategic or Co-development Partner · 1 January 2011Conducted audit of microcredit operation of National Bank of Tajikistan funded by Islamic Development Bank, covering all receipts and application of funds.
• USAIDcoreStrategic or Co-development Partner · 1 January 2010HVC team arranged and conducted training workshop on Financial Management for NGOs in collaboration with East West University, Thailand, funded by USAID.
• World BankcoreStrategic or Co-development Partner · 1 January 2009HVC served as Capacity Building Consultant in Tax Service Capacity Strengthening Project of Republic of Tajikistan funded by World Bank, providing training to high Tax Officials of Tajikistan.
• BRAC InternationalcoreStrategic or Co-development Partner · 1 January 2008Developed financial procedural and Human Resources manuals for BRAC Africa operations in Tanzania and Uganda, evaluating existing Chart of Accounts and preparing accounting manuals in line with IAS requirements.
• UNICEF BangladeshcoreStrategic or Co-development Partner · 1 January 2008UNICEF assigned HVC to facilitate and conduct four-month training workshop on Harmonized Approach to Cash Transfers (HACT) to 1,269 participants from 14 Implementing Partners during January to May 2008.
• BRAC AfghanistancoreStrategic or Co-development Partner · 1 January 2005Developed financial procedural manuals for BRAC Afghanistan, evaluating existing Chart of Accounts and preparing accounting manual for Accounts and Finance in line with IAS requirements.
• Bangladesh BankcoreOthersBangladesh Bank (Central Bank) has taken initiatives to implement Risk Based Capital Adequacy for Banks under Basel II framework. HVC established dedicated Basel II Service Team to assist financial institutions with implementation.
• GIBB, UKminorImplementation/ SI/ Consulting PartnerCarried out financial assessment of Bangladesh Inland Water Transport Corporation (BIWTC) in association with GIBB, UK, analyzing feasibility of future funding by Danish Government.
• New Zealand Immigration Services, Hong KongcoreChannel Partner/ Reseller/ DistributorAppointed as sole Verification Agent in Bangladesh to provide New Zealand Immigration Services with verification of facts through independent professional investigation of visa applicants.

Scale indicators5 records

Recent moves10 records

Expansion highlights5 records

Broad incumbents

• Deloitte Bangladesh: Big Four firm with Bangladesh presence, offering full audit, tax, and advisory services. Direct competitor for the largest Bangladesh accounts and donor-funded assignments.
• EY Bangladesh: Big Four firm with Bangladesh operations covering audit, tax, transaction advisory, and consulting. Direct competitor to HVC for top-tier Bangladesh enterprise and international development work.
• PwC Bangladesh: Big Four firm with Bangladesh presence serving multinationals and large local corporates with assurance, tax, and advisory services. Competes directly with HVC for premium enterprise and development-sector engagements.
• KPMG Bangladesh (KPMG Rahman Rahman Huq): Big Four audit and advisory firm operating in Bangladesh through Rahman Rahman Huq. Competes with HVC for the largest multinationals and listed enterprises, with global methodology and cross-border capabilities HVC lacks.

Direct peers

• MABS & J Partners: Bangladesh chartered accountancy and consulting firm providing audit, tax, and corporate advisory services. Comparable direct peer in the domestic mid-to-large CA firm segment.
• Rahman Mostafa Alam & Co: Established Bangladeshi chartered accountancy firm providing audit, tax, and consulting services. Comparable local peer serving similar Bangladesh enterprise and NGO clients.
• Syful Shamsul Alam & Co: Bangladesh chartered accountancy firm offering audit, tax, and business advisory services. Direct local peer competing in the same Bangladesh market with overlapping service lines.
• BDO Bangladesh: International accounting network with Bangladesh affiliate providing audit, tax, and advisory services. Comparable mid-tier competitor combining local expertise with international network reach.
• Howladar Yunus & Co: One of the leading chartered accountancy firms in Bangladesh, formed from the former Ernst & Young Bangladesh practice. Direct competitor to HVC for audit, tax, and advisory work with top-tier Bangladeshi corporates and multinational subsidiaries.
• ACNABIN: Bangladesh-based chartered accountancy firm (member of BKR International) providing audit, tax, and advisory services. Comparable mid-to-large local CA firm competing for the same enterprise and institutional clients as HVC.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks4 records

Key highlights6 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hoda Vasi Chowdhury & Co