Muhammad & Co. provides external audit, internal audit, and finance BPO services to mid-size corporates and groups operating in Pakistan — with the rigour of Big 4 training and the responsiveness of a focused practice.
We operate three distinct but interconnected practice areas — each staffed by qualified professionals and overseen by Fellows of ICAP. No work is delegated to trainees without direct supervision.
Independent financial statement audits conducted in accordance with ISAs and applicable Pakistani GAAP — providing shareholders, boards, and lenders with credible assurance on financial information.
End-to-end outsourced financial operations for businesses that require institutional-grade accounting without building and managing an in-house finance function.
Risk-based internal audit mandates and governance frameworks — providing management and boards with independent assurance on controls, processes, and regulatory compliance.
Valuation, due diligence support, and financial modelling for transactions, restructurings, and investment decisions.
For clients with UAE or international operations — seamlessly supported through our sister firm OmniCore Consulting, Dubai.
Muhammad & Co. was established by Fellow Chartered Accountants who trained at Big 4 firms and observed a consistent gap in the Pakistan market: mid-size corporates and groups could not access audit and advisory quality commensurate with their complexity, at a price point that made sense for their scale.
We were built to close that gap. Our practice is structured around three non-negotiables: qualified oversight on every engagement, transparent communication with clients, and work that is technically defensible under scrutiny.
Every audit and advisory engagement is overseen by a Fellow Chartered Accountant. Junior staff are supervised and reviewed — not autonomous.
Our documentation, methodologies, and conclusions are prepared to withstand scrutiny — from regulators, lenders, investors, or successors.
Deep familiarity with SECP, FBR, and SBP frameworks — complemented by international exposure through our group's work across UAE, UK, and Singapore.
The highest professional designation issued by the Institute of Chartered Accountants of Pakistan
Our partners trained across Big 4 firms — bringing audit methodology and professional standards formed at the highest level of the profession
All external audit engagements conducted in accordance with ISAs as adopted in Pakistan
Continuously active since June 2015 — through multiple regulatory, economic, and market cycles in Pakistan
Our audit approach is risk-based and substantive — designed to identify issues management should know about, not only to satisfy a filing requirement. We conduct each engagement in four structured phases.
Understanding the entity, its environment, and its significant risk areas. Setting materiality. Designing the audit response.
Testing the design and operating effectiveness of internal controls relevant to the financial statements.
Direct testing of account balances, transactions, and disclosures. Independent confirmations, analytical procedures, and physical verification where required.
Management letter with findings. Auditor's report in accordance with ISAs. Presentation to audit committee or board as required.
A standard financial statement audit with Muhammad & Co. covers the following as a minimum.
Muhammad & Co.'s Finance BPO practice provides the operational backbone for the finance function of businesses that prefer to outsource rather than build in-house. The same team that conducts your audit can also run your books — creating a seamless, single-firm relationship.
The OmniCore connection. For clients with international operations — particularly those operating in or expanding to the UAE — our Finance BPO capability extends seamlessly through OmniCore Consulting in Dubai. One relationship. Cross-border delivery.
Day-to-day transaction recording, chart of accounts maintenance, and ledger reconciliations.
Monthly or quarterly P&L, balance sheet, and cash flow — formatted for management decision-making.
Accurate monthly payroll computation, deductions, and disbursement — with full statutory compliance.
Annual financial statements prepared in accordance with IFRS or applicable Pakistan GAAP.
Invoice processing, ageing analysis, collections follow-up, and supplier payment management.
Accounting software setup, chart of accounts design, and transition from manual or legacy systems.
From first-time audits to long-standing BPO relationships — professional feedback from organisations that have worked with the firm.
"The audit team at Muhammad & Co. approached our engagement with a level of rigour we had not experienced from smaller firms previously. The management letter findings alone identified process gaps that saved us significantly in the following year."
"We outsourced our entire finance back office to Muhammad & Co. three years ago. The quality of our monthly reporting improved immediately and we haven't had a compliance issue since. Genuinely the right decision for a business at our scale."
"Their internal audit mandate surfaced control weaknesses in our procurement process that our own team had not identified in two years of operations. The remediation plan they provided was practical and has been fully implemented."
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Whether you need a statutory audit, want to outsource your finance function, or require an independent internal audit — the conversation starts with a single call. No commitment, no obligation.
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