Mahfel Huq & Co

What Mahfel Huq & Co does

Mahfel Huq & Co is a chartered accounting firm headquartered in Dhaka, Bangladesh, founded in 1974 by Howlader Mahfel Huq as the first accounting firm registered in independent Bangladesh. The firm operates through six partners and approximately 1-10 total staff, with offices in Dhaka (corporate headquarters on Topkhana Road and an extension office on Shahid Nazrul Islam Road) and a regional branch in Chattogram (Agrabad Commercial Area). It is a privately-held partnership converted from a sole practice in 2002 via merger with Abu Mohammad Kaiser & Co, and is independently associated with AGN International for cross-border referral reach.

The firm offers an integrated suite of six professional service modules: Audit and Assurance (statutory, internal, compliance, and performance audits under Bangladesh and International Standards on Auditing), Tax Consultancy (corporate and individual tax, VAT, customs, transfer pricing, and tax appeals), Corporate Finance (transaction review, valuation, due diligence, and restructuring advisory), Corporate and Legal Affairs (in-house legal capability covering incorporation, share transfers, secretarial services, and arbitration), Risk Consulting (forensic investigations, feasibility studies, internal control reviews), and Outsourcing (payroll, bookkeeping, MIS, and technology support). The firm has developed proprietary cloud-based accounting software compliant with IAS and IFRS as an internal productivity backbone, though no standalone SaaS product is commercialized. Service delivery is partner-led and direct to clients, with no intermediaries or distribution partners.

Mahfel Huq & Co serves both corporate clients across insurance, banking, manufacturing, textiles, healthcare, power, real estate, garments, telecom, and NGO sectors, and individual/SME taxpayers. Revenue is generated through project-based professional services fees with quote-based, engagement-specific pricing; no public pricing tiers or recurring subscription model is disclosed. Customer acquisition relies on partner-led business development, professional referrals, content marketing via the firm blog, and organic social presence on Facebook and LinkedIn, supplemented by AGN International membership for international credibility.

Name

Mahfel Huq & Co

Legal name

Mahfel Huq & Co.

Website

https://mahfelhuq.com

Company type

Private

Founded year

1974

Operating status

Operating

Headcount range

1–10 employees

Short description

Mahfel Huq & Co is a Bangladesh-based chartered accounting firm founded in 1974, offering audit, tax, corporate finance, legal, risk consulting, and outsourcing services to corporate and individual clients across multiple industries through six partners and offices in Dhaka and Chattogram.

Ownership category

akta.pro rank

Product category

Chartered Accountancy and Professional Services

NAICS

Offices of Certified Public Accountants (541211), Legal Services (5411), Other Accounting Services (541219)

SIC

Services-Legal Services (8111)

akta.pro primary industry

Business Valuation & Litigation Support (BPAHABAK)

akta.pro secondary industries

Fraud Risk Management & Anti-Bribery/Anti-Corruption (ABAC) (BPAHAFAL), Litigation & Dispute Valuation (damages, shareholder disputes) (FSAEAHAI)

Keywords

• Chartered accountancy services
• Audit and assurance
• Tax consultancy
• Corporate finance advisory
• Risk consulting

Headquarters

HQ city

Badda

HQ country

Bangladesh

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Professional Services Fees: The firm generates revenue through professional service fees for audit and assurance, tax consultancy, corporate finance, corporate and legal affairs, risk consulting, and outsourcing services. Services are provided to both corporate and individual clients on a project or retainer basis.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Mahfel Huq & Co. is a chartered accountancy firm offering Audit and Assurance, Tax Consultancy, Corporate Finance, Corporate and Legal Affairs, Risk Consulting, and Outsourcing services to corporate and individual clients across Bangladesh. Engagements are delivered by qualified chartered accountants and in-house lawyers on a project- or retainer-basis, conforming to Bangladesh Standards on Auditing and International Standards on Auditing.

Product overview

Mahfel Huq & Co offers a unified suite of six professional service modules delivered as an integrated accounting and consulting practice. The core offerings include Audit and Assurance (compliant with Bangladesh and International Standards on Auditing), Tax Consultancy (covering corporate and individual taxation, VAT, and customs), Corporate Finance (advisory from funding through exit), Corporate and Legal Affairs (combining in-house legal and accounting expertise), Risk Consulting (risk identification and mitigation), and Outsourcing (back-office functions including payroll, bookkeeping, and HR). These services are designed to work together to provide comprehensive financial and operational support for clients.

Differentiator

Problem solved

Functional benefit

Products and services

• Audit and Assurance Provides statutory audit, special audits and reviews, internal audit, compliance audit, internal control reviews, due diligence, performance audit, and regular review of financial and non-financial data in compliance with Bangladesh Standards on Auditing (BSAs) and International Standards on Auditing; for corporate clients across Bangladesh.
• Tax Consultancy Provides comprehensive taxation solutions for individual and corporate clients, including corporate tax assessment and planning, income tax returns preparation, deferred tax computation, capital gains tax, partnership tax, tax appeals, tax effective remuneration planning, VAT management systems, customs cases, inheritance tax planning, transfer pricing, and tax investigations.
• Corporate Finance Provides financial advisory services from funding through floating and selling, including transaction review, valuation services, financial due-diligence, corporate restructuring advisory, and business planning; for corporate clients seeking transaction support and advisory.
• Corporate and Legal Affairs Provides in-house legal services alongside accounting expertise for day-to-day business operations, including company incorporation, registration, liquidation, statutory records maintenance, share capital changes, statutory returns filing, share transfers, legal disputes and arbitration, agreement drafting, and company secretarial services.
• Risk Consulting Offers risk identification, management, and mitigation services including cost reduction planning, standards operating procedures development, financial and operation governance review, treasury and liquidity risk management, forensic investigations, receivables and payables management, project feasibility studies, process improvement, internal control reviews, and credit monitoring.
• Outsourcing Provides business process outsourcing services including payroll management and tax processing, bookkeeping, human resource support, management information systems preparation, capital budgeting, fixed asset verification, transaction services, systems design, and technology support.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• AGN InternationalcoreStrategic or Co-development PartnerMahfel Huq & Co. is an independent accounting and consulting firm associated with AGN International, a leading global association of separate and independent accounting and advisory firms. The association is united by a commitment to delivering high-quality professional services to clients worldwide. Each member firm is independently owned and operated.

Scale indicators3 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Rahman Rahman Huq (KPMG Bangladesh affiliate): Rahman Rahman Huq is the Bangladesh member firm of KPMG and the most direct competitor for large listed-company audits, MNC clients, and cross-border advisory in Bangladesh. MHC's Corporate Finance partner was articleship-trained at this firm, reflecting close competitive and talent overlap.
• MABS & Partners (Deloitte Bangladesh affiliate): MABS & Partners is the Deloitte affiliate in Bangladesh and a direct competitor for corporate finance, risk consulting, and statutory audit mandates. The firm's presence creates heightened competition for high-end advisory work and MNC engagements that MHC also targets.
• SF Ahmed & Co (Grant Thornton Bangladesh affiliate): SF Ahmed & Co is the Grant Thornton Bangladesh affiliate and competes with MHC for mid-market corporate finance, due diligence, and advisory mandates. Both firms position themselves as alternatives to the Big 4 for growing Bangladeshi corporates.
• ACNABIN: ACNABIN is one of the largest indigenous chartered accountancy firms in Bangladesh, providing audit, tax, and advisory services across similar corporate client segments. It competes head-to-head with Mahfel Huq & Co. for statutory audits and corporate finance mandates in the mid-market and large-cap domestic space.
• Hoda Vasi Chowdhury & Co: Hoda Vasi Chowdhury & Co is a leading indigenous Bangladeshi CA firm offering audit, tax, advisory, and corporate services across virtually the same client industries (banking, insurance, manufacturing, textiles) as MHC. Both firms train Chartered Accountants through ICAB and compete for the same large corporate and listed-entity mandates.
• Howladar Yunus & Co (EY Bangladesh affiliate): Howladar Yunus & Co is the EY member firm in Bangladesh and competes with MHC for multinational client engagements and large statutory audits. Both firms offer integrated assurance, tax, and advisory services with comparable service taxonomies, though EY has substantially broader international resources.
• Pinaki & Co (PwC Bangladesh affiliate): Pinaki & Co is the PwC-affiliated firm in Bangladesh, competing for the same upper-tier audit, tax, and corporate finance engagements that MHC targets among large Bangladeshi corporates and MNC subsidiaries.
• Mahfuza & Co (BDO Bangladesh affiliate): BDO's Bangladesh member firm is a mid-tier competitor offering audit, tax, and advisory services to SMEs and growing corporates - the same SME and mid-market client segments MHC serves through its Outsourcing and Tax Consultancy practices.

Regional players

• KPMG India: KPMG India is the South Asian regional peer providing the same assurance, tax, corporate finance, and risk consulting suite as MHC, serving Indian corporates and South Asian multinationals. Useful as a regional scale benchmark for where an aspirational AGN-affiliated network member firm might evolve.

Others

• ICAB (Institute of Chartered Accountants of Bangladesh): ICAB is the regulatory and standard-setting body that all Bangladeshi CA firms (including MHC) must operate within; it sets auditing standards (BSAs), issues practicing certificates, and disciplines members. MHC's founder served as ICAB President, making the body an enabling ecosystem player rather than a direct competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/mahfelhuqandco
• LinkedInlinkedin.com/company/mahfelhuqandcompany

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 Mahfel Huq & Co