S. F. Ahmed & Co. Chartered Accountants (HLB Bangladesh)

What S. F. Ahmed & Co. Chartered Accountants (HLB Bangladesh) does

S. F. Ahmed & Co. Chartered Accountants (SFACO) is a Bangladesh-registered partnership firm (Partnership Act, 1932) established in 1958, providing a full spectrum of audit, tax, management consulting, corporate secretarial, regulatory compliance, immigration, and M&A due-diligence services. The firm operates from two offices — Dhaka (headquarters, Banani) and Chattogram (Agrabad branch) — and is staffed by approximately 291 professionals, including 4 partners, 5 Chartered Accountants, Certified Internal Auditors, Certified Fraud Examiners, and Certified Information Systems Auditors, supported by 31 specialists covering tax, engineering, economics, banking, and IT. SFACO serves enterprise and institutional clients across oil and gas (Shell Bangladesh, Cairn Energy, Santos, Halliburton, Schlumberger), power generation (AES Haripur, AES Meghnaghat), banking (Bangladesh Bank, Standard Chartered, JP Morgan), technology (Microsoft, Hewlett-Packard), pharmaceuticals (Novartis), and the public sector (BTCL, LGED, BJMC, BTMC, BRTC, BCIC), with selective work for donor-funded projects (World Bank, ADB, USAID, EU, UNDP).

Revenue is generated through fee-based professional engagements on a quote-driven basis with no publicly disclosed pricing. The firm earns across six core service lines — audit and assurance, management consulting, international and national tax advisory, corporate secretarial, regulatory compliance assistance, and immigration services — supplemented by specialised modules including internal audit, financial management system design, due diligence and forensic audit, IT services, company formation/restructuring, training, feasibility studies, project monitoring, and IPO/GDR advisory. Its core technology stack consists of CaseWare auditing software (used in 130 countries, 16 languages) with CaseWare-cloud for audit working papers, Microsoft Teams for virtual collaboration, and Microsoft Cloud for document storage, supported by fiber-optic internet infrastructure through ADN Telecom and Aamra Networks. SFACO holds multiple regulatory enlistments (BSEC audit Serial No. 30 and valuation Serial No. 12, FRC CAF-001-044, NGO Affairs Bureau Serial No. 101, Dhaka Stock Exchange Serial No. 52, Microcredit Regulatory Authority Serial No. 332-335) and operates as an Independent Member Firm of HLB International Ltd, UK since November 2016, following prior Technical Assistance Firm relationships with Ernst & Young International (1993-2014) and Arthur Young & Co (1975-1993).

Name

S. F. Ahmed & Co. Chartered Accountants (HLB Bangladesh)

Legal name

S. F. Ahmed & Co. Chartered Accountants

Website

https://sfahmedco.com

Company type

Private

Founded year

1958

Operating status

Operating

Headcount range

51–100 employees

Short description

S. F. Ahmed & Co. (SFACO), founded in 1958, is a Bangladesh chartered-accounting partnership providing audit, tax, consulting, regulatory, and immigration services to multinational corporations, banks, government agencies, and donor-funded organizations, operating as HLB Bangladesh since 2016.

Ownership category

akta.pro rank

Product category

Accounting and Advisory Services

NAICS

Offices of Certified Public Accountants (541211), Management Consulting Services (54161)

SIC

Services-Engineering, Accounting, Research, Management (8700), Services-Management Consulting Services (8742)

akta.pro primary industry

Intercompany & Consolidation Support (Eliminations, Group Reporting Support) (BPAAAGAG)

akta.pro secondary industries

Immigration Outsourcing & Managed Services (BPO/RPO for Immigration) (THACAKAM), Fraud Risk Management & Anti-Bribery/Anti-Corruption (ABAC) (BPAHAFAL)

Keywords

• Audit and assurance services
• Management consulting services
• International tax advisory
• Corporate secretarial services
• Regulatory compliance advisory

Headquarters

HQ city

Dhaka

HQ country

Bangladesh

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Audit and Assurance Services: Independent examination of financial statements for expressing professional opinions on fairness of presentation and disclosure. Core revenue stream since establishment in 1958.
2. Management Consulting Services: Advisory services including business advisory, project implementation, corporate governance, mergers and acquisitions, feasibility studies, and due diligence reviews.
3. Tax Advisory and Compliance Services: International and national taxation including corporate income tax, VAT compliance, tax planning, transfer pricing, and representation before tax authorities.
4. Corporate Secretarial Services: Company secretarial practices including handling matters related to floatation of companies, statutory compliance, and regulatory submissions.
5. Regulatory Compliance Assistance: Guiding clients in obtaining permissions, registrations, and licenses from various Bangladeshi government authorities including BIDA, RJSC, NBR.
6. Immigration Services: Work permits, visa assistance, and security clearances for expatriates working in Bangladesh.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

S. F. Ahmed & Co. is a chartered accountancy and advisory firm providing management consulting, auditing and assurance, international and domestic tax planning, corporate secretarial advisory, immigration services for expatriates, and regulatory compliance assistance for foreign companies establishing operations in Bangladesh. Services are delivered through two offices (Dhaka headquarters and Chattogram branch) supported by CaseWare auditing software, Microsoft Teams collaboration, and CaseWare-cloud storage, with cross-border reach provided via HLB International affiliation.

Product overview

S.F. Ahmed & Co. (SFACO) is a chartered accounting and advisory firm offering a comprehensive portfolio of professional services. The core service offerings include Management Consulting Services, Auditing and Assurance Services, International Tax Planning and Advice, Corporate Secretarial Advice, Immigration-Related Services, and Assistance in Regulatory Compliance. These core services are supplemented by specialized service modules including Internal Audit Services, Financial Management System Design, Due Diligence and Forensic Audit Services, IT Services (software development, maintenance, and implementation), Company Formation/Acquisition/Merger/Restructuring/Liquidation, Training Services, Feasibility Study and Financial Viability Study, Project Monitoring Services, Client Support/Outsourcing Services, Advisory Services, and IPO Services. The firm operates as a unified professional practice established in 1958, affiliated with HLB International Ltd since 2016, serving clients across diverse sectors including banking, oil and gas, power generation, telecommunications, and government agencies.

Differentiator

Problem solved

Functional benefit

Products and services

• Management Consulting Services
• Auditing and Assurance Services
• International Tax Planning and Advice
• Corporate Secretarial Advice
• Immigration-Related Services
• Assistance in Regulatory Compliance
• Due Diligence and Forensic Audit Services
• Company Formation, Acquisition, Merger, Restructuring and Liquidation Services
• Feasibility Study and Financial Viability Study Services
• Project Monitoring Services
• Initial Public Offering (IPO) Services

Quantifiable outcome

• Developed Financial Management Manual and Risk-based Auditing Manual for Bangladesh Bank (2008-2009)
• +4 more outcomes

Named customers19 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• HLB International Ltd, UKcoreStrategic or Co-development Partner · 1 November 2016Independent Member Firm with HLB International Ltd, UK since November 2016. Enables cross-border professional services referrals and access to global network of accounting and advisory firms.
• Ernst & Young International, InccoreStrategic or Co-development PartnerTechnical Assistance Firm with Ernst & Young International Inc from 1993 to 2014. Headquartered in New York, USA, EY is one of the top four accounting and management consultancy firms globally.
• Arthur Young & CominorStrategic or Co-development PartnerTechnical Assistance Firm with Arthur Young & Co from 1975 to 1993. One of the predecessor firms to Ernst & Young.
• American Chamber of Commerce in BangladeshcoreGTM or Marketing PartnerAffiliate Member of American Chamber of Commerce in Bangladesh, providing networking and referral opportunities with American businesses in Bangladesh.
• Metropolitan Chamber of Commerce & IndustrycoreGTM or Marketing PartnerMember of Metropolitan Chamber of Commerce & Industry, Bangladesh's premier business chamber for networking and business development.
• Booz, Allen & HamiltonminorStrategic or Co-development PartnerPrevious working relationship with international management consulting firm based in Singapore (10 Collyer Quay, Ocean Building).
• Nathan Associates, IncminorStrategic or Co-development PartnerPrevious working relationship with international consultancy based in Arlington, Virginia, USA (Two Colonial Place, 2101 Wilson Boulevard).
• TMF Corporate Secretarial Services LimitedminorStrategic or Co-development PartnerPrevious working relationship with UK-based corporate secretarial services firm (400 Capability Green, Luton, LU1 3AE, UK).
• WPI, Inc & International Trade Service GroupminorStrategic or Co-development PartnerPrevious working relationship with international trade services group based in Cambridge, USA.
• MicrosoftcoreTechnology or IntegrationMicrosoft Teams platform used for virtual meetings and document sharing, enabling remote client collaboration and real-time data storage on cloud platform.
• CaseWare International InccoreTechnology or IntegrationCaseWare auditing software used in 130 countries and 16 languages. Canadian company providing automated audit working paper solutions with cloud-based CaseWare-cloud facility.

Scale indicators3 records

Recent moves10 records

Expansion highlights5 records

Broad incumbents

• Howladar Yunus & Co. Bangladesh correspondent firm of PwC; full-service audit, tax and advisory practice. Directly comparable Big Four affiliate competing for the same multinational clients and government mandates in Bangladesh.
• A. Qasem & Co. Bangladesh correspondent firm of Ernst & Young (EY); SFACO's former technical-assistance partner (1993-2014). Offers identical range of audit, tax and corporate-secretarial services under a Big Four brand.
• Rahman Rahman Huq: Bangladesh member firm of KPMG International; provides audit, tax and advisory services to local and multinational clients. Directly comparable to SFACO in scale and service mix, but offers Big Four brand premium on cross-border mandates.
• Mostafa Kamal & Co. Bangladesh member firm of Deloitte Touche Tohmatsu; provides audit, tax, consulting and risk services. Competes head-to-head for statutory audit, due diligence and government advisory mandates.

Direct peers

• MABS & J Partners: Bangladesh member of BDO International; mid-tier full-service chartered accountancy firm. Closest direct peer to SFACO's positioning — HLB vs BDO is a near-analogous tier in Bangladesh's mid-market.
• ACNABIN Chartered Accountants: Established mid-tier Bangladeshi chartered accountancy firm offering audit, tax, corporate advisory and regulatory services. Direct competitor for the same SME, NGO, and donor-funded-project mandates SFACO targets.

Others

• HLB International Ltd: UK-headquartered global accounting network of which SFACO is an Independent Member Firm. Comparable as the network peer-set and indirect competitor for cross-border referral-driven engagements.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/accessdirect
• Facebookfacebook.com/SFACOCA
• LinkedInlinkedin.com/company/sfahmedco

Compliance16 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 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 S. F. Ahmed & Co. Chartered Accountants (HLB Bangladesh)