Muhammad Shoaib Afzal - FCCA,LL.B

Co-Chief Executive Officer at Vaival Solutions
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Contact Information
Location
Lahore, Punjab, Pakistan, PK
Languages
  • English -
  • Urdu -

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Experience

    • Pakistan
    • Information Technology & Services
    • 1 - 100 Employee
    • Co-Chief Executive Officer
      • Jul 2021 - Present

      As the co-CEO of Vaival Solutions, I oversee the operations of our company which specializes in providing ERP solutions to a range of diverse sectors including manufacturing, trading, services, restaurants and NGOs. One of my key responsibilities is to supervise our back office team, who provide virtual Bookkeeping services to our clients. This involves recording our clients' financial transactions and assisting them with annual audits.We also offer Virtual CFO services to our clients where our team plays a crucial role in finance decision making, tax management, budgeting, variance analysis and managing the audit process. We provide financial advice to our clients, and offer support in various other financial matters.Marketing is another department that I supervise, ensuring that our company accurately and comprehensively reaches out to and attracts our target audience. Additionally, I oversee the ERP development process, where we strive to understand the needs of our clients and provide them with tailor-made solutions to their problems. We ensure the timely delivery of these developments, which leads to successful ERP implementation.Finally, I also supervise our support department, which primarily focuses on providing software support to our clients. Our team is responsible for assisting clients with data entry, resolving queries, and providing guidance on key management reporting. As the co-CEO of Vaival Solutions, I am committed to ensuring that our clients receive the highest quality of service and that their business needs are met through our innovative and customized ERP solutions. Show less

    • Head of ERP Department
      • Jan 2020 - Jun 2021

      As the Head of ERP Department at Vaival solutions, I oversee the provision of ERP solutions to various sectors, including manufacturing, trading, services, restaurant, and NGOs. Additionally, I am responsible for managing our backend team, which provides virtual bookkeeping services to our clients. Our team records financial transactions, supports clients through annual audits, and provides monthly reports. We also work closely with clients regarding monthly and annual tax return filings. In addition to my responsibilities with our backend team, I also assist our marketing department with ERP demos and helping clients better understand their needs. As a business analyst, my role involves understanding clients' businesses and development needs, working with developers, and ensuring that the end result meets our clients' expectations. I also offer client training on newly developed modules to help them maximize the benefits of our ERP solutions. Overall, I am dedicated to providing client-centered ERP solutions and supporting our team in delivering high-quality services. Show less

    • Manager Back office operations
      • Mar 2019 - Dec 2019

      As a Back Office Manager at Vaival Solutions, I oversee a team dedicated to providing virtual bookkeeping services to clients across various sectors, including manufacturing, trading, services, restaurants, and NGOs. Our team records clients' financial transactions and assists them with their annual audits by providing comprehensive monthly reports. Additionally, we provide expert guidance and support to clients during monthly and annual tax return filings. At Vaival Solutions, we're committed to providing high-quality ERP solutions to our clients, and my team plays a crucial role in delivering world-class service. Show less

    • 1 - 100 Employee
    • Tax Consultant
      • Mar 2018 - Present
    • 200 - 300 Employee
    • Advocate
      • Aug 2018 - Present
    • Bangladesh
    • Accounting
    • 1 - 100 Employee
    • Assistant Manager
      • Jul 2018 - Apr 2019

      My role involved supervising, planning, and executing audit plans, preparing audit reports, and overseeing the audit team for external audits. In addition, I worked closely with top management of clients for both internal and external audits, assisting them in the preparation of financial statements and reviewing corporate and individual income tax returns. I also performed analytical reviews of financial statements and prepared various audit deliverables including Management Letters, Covering Letters, and Management Representation Letters. During my tenure, I also worked as an Official Liquidator of a listed company, which provided me with invaluable experience in this field. I have had the privilege to work with a variety of clients, including Shalamar Hospital, Shalamar Medical and Dental College, Shalamar School of Allied Health Sciences, and Shalamar Nursing School. I have also conducted internal audits for insurance sector companies and textile industry Show less

    • Senior Audit Associate
      • Mar 2014 - Jun 2018

      In audit department, I have conducted external audit and other assurance engagements and related assignments in diversified sectors ranging from manufacturing to service.Key tasks performed are summarized as under: Overall planning and execution of audit assignment as per requisites of International Auditing Standards and pronouncement of local authorities; Tailoring the audit programs according to the requirements of each assignment; Performing test of control and substantive procedures subsequently on area assigned; Assisting clients in preparation of financial statements in accordance with the applicable financial reporting framework including compliance with International Financial Reporting Standards (IFRS), local corporate laws and directives of regulatory authorities; Discussion with clients on various accounting/auditing matters identified during the audit and have significant impact on Financial statements; Review of work done by audit team members and discussing conclusions with the engagement manager & partner; Drafting financial statement disclosures as per requirements of International Financial Reporting Standards (IFRS) & Companies Ordinance, 1984; Performing overall analytical reviews on financial statements to ensure that financial statement are consistent with the overall understanding of audit;  Discussion of identified significant audit issues with the engagement partner, manager and relevant client personnel, documenting the conclusion reached of discussion and assessing its impact on the audit report;  Preparation of other audit deliverables including Management Letter, Covering Letter & Management Representation Letter. Show less

    • Tax Consultant
      • Mar 2014 - Jun 2018

      I prepared tax notice replies for various clients u/s 161-205, u/s 177 and rule 44(4) etc. Key Tasks includes the following; Preparation of wealth statements of various clients Preparing and Filing of online (E-filing) Income Tax Returns at FBR Portal Preparing and filing of sales tax return at FBR and PRA portals.

    • Credit Analyst
      • Mar 2014 - Jun 2018

      I worked as an income estimator and then supervisor in bank department of my firm. Our department’s job is to make business financial appraisal reports for term finance and running finance and consumer financial appraisal report for auto loan and home loan to various banks

Education

  • ACCA
    ACCA, Chartered Accountancy, Audit Assurance, Business Management, Corporate law, Reporting, Taxation, IT
    2010 - 2013
  • INSTITUTE OF CHARTERED ACCOUNTANT OF PAKISATN
    2014 - 2017
  • Institute of Cost and Management Accountants of Pakistan (ICMA Pakistan)
    CMA
    2016 - 2017
  • University of the Punjab, Lahore
    Bachelor of Laws (LL.B.), Banking, Corporate, Finance, and Securities Law
    2012 - 2014
  • ACCA
    ACCA, Accounting and Finance
    2010 - 2013
  • The professional's academy of commerce
    ACCA, Financial Accounting, Law, Taxation, Costing, Financial Management, Auditing, business analysis
    2010 - 2013
  • University of the Punjab, Lahore
    Bachelor's Degree, Statistics
    2010 - 2011
  • ACCA
    Certified Accounting Technician(CAT)
    2009 - 2010

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