About Us
M. Ashfaq Mughal & Associates, Chartered Accountants, “The Firm” was founded by Mr. Mohammad Ashfaq Mughal in October 2018 with an aspiration to provide high quality professional services to the business community in the region with a touch of difference. The difference of having a blend of practicing experience as well as industry experience of both local and multinational organizations at senior level and having exposure of working with people of different back grounds and cultures.
Mr. Mohammad Ashfaq Mughal is a dynamic Senior Level Professional with over 20+ years of insightful experience in the Assurance, Controllership, Taxation, Business Planning, P&L Management, Business & Financial operations of Multinational organizations. He is a fellow member of the Institute of Chartered Accountants of Pakistan. He built his early career of over five years with EY Ford Rhodes, Chartered Accountants and progressed from an article student to Senior Manager level. During this period, he undertook various assignments of assurance and advisory for the companies operating in telecommunication, sugar, food, education, pesticides, chemical, pharmaceutical, & Healthcare sectors.
He also worked in ABN Amro Equities Pakistan Ltd as an Associate Financial Controller and carried out the responsibilities of compliance and controls study in 2000. He re-joined EY Ford Rhodes in 2000 as Senior Manager for managing the finance function of world’s leading healthcare company in Pakistan.
In 2001, he joined BD, the world’s leading medical device technology company as Country CFO/Controller for Pakistan and represented on the Country Management Team. His key responsibilities were comprised of Controllership including plant and business support in achieving budgets and strategy implementation. During his Seventeen years with BD, he closely worked with regional seasoned professionals in Finance, Business and HR and practiced finance and business techniques prevailing in the international arena. He also worked on cross border assignments and got experience of interacting with people of different cultures. He played an active role in the country management team and was instrumental in achieving the double digit growth in top line and shared the P&L responsibility. He successfully attended a series of BD executive trainings including Leadership Development Program, Strategic Thinking, Selecting the Best, Train the Trainer. He also successfully implemented ERP System along with HFM System in Pakistan as part of BD global initiative. He has sound experience in achieving excellence in working capital management.
He has in-depth hands on experience of designing and implementing the divestiture strategy in Pakistan including due diligence audits. His key responsibilities included, fulfilling all obligations of the Company towards Customers, including fulfilling existing orders, realisation of all assets and settlement of all liabilities including banks. He managed to transition business to Distributors and assisted regional businesses in understanding Pakistan Market. He successfully managed to recover refundable income taxes and managed to close pending tax audits with minimum tax exposure. He also carried out advisory role to BD on Distribution management, Tender business, ASRs, budgets, forecasts and assisting regional business leaders in implementing business strategy in Pakistan
