IMRAN ZAFAR
CFO I Deputy CFO I Board Member I Financial Controller
Lahore, Punjab,PB
Summary
- Dynamic and results-driven finance and accountancy professional with a proven track record of delivering value across diverse sectors including manufacturing, logistics, professional services, and non-profit institutions. A Chartered Accountant with over 15 years of progressive experience in:
- Financial Management & Reporting - including budgeting, forecasting, strategic planning, financial analysis, and investment of surplus funds;
- Taxation & Regulatory Compliance - with strong command over corporate taxation, group taxation regimes, refund processing, and handling tax audits and litigation;
- Audit & Assurance - leading internal audits, risk assessments, ERP implementation, and business process evaluations to strengthen internal controls.
- Leadership & Strategic Advisory - with board-level reporting experience, involvement in high-impact projects, automation initiatives, and cross-functional collaboration; &
- ERP and Digital Transformation - successful implementation and optimization of SAP, Oracle, and development of Power BI dashboards for performance tracking. Recognized for high ethical standards, attention to detail, and ability to drive change through strategic insight and operational excellence.
Overview
21
21
years of professional experience
1998
1998
years of post-secondary education
Work History
Acting CFO/ Deputy CFO
Institute of Chartered Accountants of Pakistan
09.2023 - Current
- Presenting quarterly, half-yearly and annual financial performance reports to the Audit Committee, Executive Committee, and the Council;
- Leading the preparation of financial statements in accordance with the IFRS;
- Ensuring adherence to internal policies, regulatory requirements, and statutory laws;
- Managing relationships with external auditors, tax advisors, and banking partners;
- Overseeing annual budgeting, financial planning, and forecasting processes;
- Investing surplus funds amounting to Rs. 2.5 - 3 billion, with a focus on maximizing returns;
- Driving the timely implementation and optimization of SAP for improved process automation;
- Supporting digital transformation initiatives, including the development of interactive dashboards powered by Power BI.
Head of Finance & Taxation/ Board Member/ CFO Designate
Leeds Logistics
10.2022 - 09.2023
- Company Overview: (A US Group Company)
- Presented monthly financial performance reports to Group Directors in Board meetings;
- Led the preparation of financial statements in alignment with the IFRS;
- Ensured that all business operations complied with internal policies, procedures, and applicable legal and regulatory frameworks;
- Managed corporate and tax matters in collaboration with tax advisors and banking partners;
- Directed the annual budgeting, financial planning, and forecasting processes with monthly reviews to address variances and updates;
- Maintained a robust internal control system to safeguard company assets;
- Spearheaded ERP planning and implementation in partnership with ERP team (Oracle EBS, FMS, CRM);
- Coordinated and facilitated both external and internal audit engagements;
- Ensured effective working capital management and timely collections from debtors;
- Analyzed ageing of CWIP and supplier advance balances to enhance financial oversight.
- (A US Group Company)
Senior Manager Group Taxation Affairs
US Apparel and Textiles (Private) Limited
01.2020 - 09.2022
- Ensured timely and accurate filing of income tax returns for the Holding Company (AJ Holdings) and all group entities under the group taxation regime.
- Filed annual Group Tax Declarations for all companies eligible under group taxation.
- Pursued group income tax refunds for Tax Years 2012 to 2021, including preparation and submission of refund files and follow-up with the Federal Board of Revenue (FBR);
- Responded to FBR-issued tax notices to group companies and the Board ensuring compliance;
- Represented the Group at appellate forums to contest adverse tax orders issued by the FBR;
- Led the digitization of withholding tax data to support efficient tax refund processing;
- Kept senior management informed of changes in tax laws and regulatory developments, providing timely insights and strategic advice;
- Developed and delivered Board presentations on the impact of tax law amendments (including the Finance Act) and their implications for the US Group;
- Oversaw the accurate and timely filing of income tax returns for the Board of Directors of the US Group;
- Managed withholding tax audits conducted by the FBR and secured exemption certificates for efficiency;
- Executed strategic tax planning initiatives to optimize the Group's tax position.
Manager Taxation
US Apparel and Textiles (Private) Limited
06.2017 - 12.2019
- Perusing Income Tax Refunds of the company for Tax Years 2012 through 2014 through compilation of refund files for submission with FBR and processing of refund claims/ applications;
- Handled income tax notices issued by the FBR to group entities and the Board, ensuring compliance and minimizing financial exposure or adverse departmental actions;
- Prepared and presented updates for Board meetings on recent amendments in tax legislation (including the Finance Act), along with their financial and operational implications for the Group;
- Ensured timely and accurate filing of Income Tax Returns of Board of Directors of US Group;
- Oversaw withholding tax audits initiated by FBR;
- Secured Exemption Certificates from FBR to support Company's tax planning and compliance efforts.
Manager Assurance and Advisory
BKR International Lahore Office
10.2015 - 05.2017
- Led statutory audit and assurance engagements for clients across various industries, ensuring compliance with International Standards on Auditing (ISA) and applicable financial reporting frameworks;
- Provided tax advisory services including income tax compliance, filing of returns, and strategic tax planning for corporate and individual clients.
Assistant Manager Internal Audit
Pakarab Fertilizers Limited
02.2011 - 09.2014
- Company Overview: (Fatima Group-US $ 1.5 Billion Project)
- Conducted comprehensive reviews of business processes to assess and strengthen internal control procedures;
- Verified accuracy and completeness of revenue recognition, customer balances, sales incentives, and freight and transportation charges;
- Audited recruitment practices by reviewing personnel files for compliance with the Recruitment Policy;
- Performed surprise stock and cash counts, along with monthly audits of bank reconciliation statements to ensure accuracy and detect anomalies;
- Reviewed the quarterly ageing of Capital Work in Progress (CWIP) and half-yearly analysis of supplier advances to monitor outstanding balances;
- Evaluated the correctness of markup calculations on financing and ensured compliance with loan agreements and financing terms;
- Conducted monthly audits of payroll for management staff and quarterly audits for outsourced manpower to verify accuracy and policy adherence;
- Reviewed monthly Sales Tax Returns for accuracy and compliance prior to submission with FBR.
- (Fatima Group-US $ 1.5 Billion Project)
Tax Supervisor
PWC Pakistan
02.2008 - 07.2009
- Company Overview: (A. F. Ferguson & Co Chartered Accountants, Lahore)
- Rendering tax and legal services to corporate and non-corporate clients.
- (A. F. Ferguson & Co Chartered Accountants, Lahore)
Trainee Student
PWC Pakistan
02.2004 - 01.2008
- Company Overview: (A. F. Ferguson & Co Chartered Accountants, Lahore)
- Gathered extensive experience in special assignments and Audit, Assurance and Business Advisory Services rendered to different multinational, public and private companies.
- Special Assignments: 23-member team engaged in Financial Restructuring of Punjab Government sponsored by ADB; 5-member team engaged in an Antidumping Assignment of Shakarganj Sugar Mills Ltd; 5-member team engaged to Monitor the daily sales of Dada Bhoy Cement Company and report the same to All Pakistan Cement Manufacturing Association (APCMA).
- Audit, Assurance and Business Advisory Services: Manufacturing Sector: Emco Ltd, Tetra Pak Pakistan Limited, Fayzan Manufacturing Modaraba, Mitchells Fruit Farms Ltd, Shakarganj Mills Ltd, Medipharm (Private) Limited, Schering Asia GmBH, Coca Cola Beverages Pakistan Limited, Crescent Bahuman Limited and Reliance Weaving Mills Ltd; Power Generation: Kohinoor Energy Limited and Crescent Bahuman Energy Limited; Service Sector: IGI Insurance Company Limited and Fatima Memorial Hospital; Others: Also performed audit of pension, gratuity, and provident funds of Packages Ltd, International General Insurance Company Ltd and Mitchells Fruit Farms Ltd.
- (A. F. Ferguson & Co Chartered Accountants, Lahore)
Education
Intermediate - General Sciences
Secondary School Exam - undefined
ACA - undefined
Institute of Chartered Accountants of Pakistan
Skills
Automation
Accomplishments
- Proactively mitigated a potential tax liability of Rs 60 million through strategic and meticulous tax planning at ICAP.
- Effectively resolved critical HR crisis & established a finance team from the ground up.
- Spearheaded the recovery of income tax refunds amounting to Rs. 31 million at US Group - the first ever in the company's 45+ year history.
- Contributed to business expansion by acquiring new clients, optimizing operational costs, and recovering long-outstanding dues exceeding Rs. 50 million.
- Led a large-scale physical tagging project for all movable fixed assets across 72 locations at Fatima Group.
- Developed an Excel-based automated template for the quarterly ageing of inventory, CWIP, and supplier advances.
- Conducted a thorough audit of personnel files, identifying critical gaps in the recruitment process.
- Implemented ongoing compliance monitoring of company policies and SOPs.
Personal Information
- Date of Birth: 06/17/83
- Nationality: Pakistani
Timeline
Acting CFO/ Deputy CFO
Institute of Chartered Accountants of Pakistan
09.2023 - Current
Head of Finance & Taxation/ Board Member/ CFO Designate
Leeds Logistics
10.2022 - 09.2023
Senior Manager Group Taxation Affairs
US Apparel and Textiles (Private) Limited
01.2020 - 09.2022
Manager Taxation
US Apparel and Textiles (Private) Limited
06.2017 - 12.2019
Manager Assurance and Advisory
BKR International Lahore Office
10.2015 - 05.2017
Assistant Manager Internal Audit
Pakarab Fertilizers Limited
02.2011 - 09.2014
Tax Supervisor
PWC Pakistan
02.2008 - 07.2009
Trainee Student
PWC Pakistan
02.2004 - 01.2008
Secondary School Exam - undefined
ACA - undefined
Institute of Chartered Accountants of Pakistan
Intermediate - General Sciences
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