Independent Director
Mr. Shah Naveed Saeed is a seasoned professional with over 30 years of experience in the fields of accounting, auditing, and financial management. His extensive educational background includes a range of prestigious qualifications: Chartered Global Management Accountant from the American Institute of Certified Public Accountants (2012), Certified Public Accountant from the University of Illinois (1985), and Chartered Accountancy from the Institute of Chartered Accountants of Pakistan (1980). He also holds a certificate in Advanced Accounting & Auditing from DePaul University, Chicago (1984)
Currently, Mr. Saeed serves as the Managing Partner at Naveed Zafar Ashfaq Jaffery & Co., Chartered Accountants, located in Islamabad. This firm is a member of Prime Global, an international association of independent accounting firms.
Mr. Saeed’s career includes a notable tenure with the World Bank, where he worked as a Senior Financial Management Consultant in the Pakistan Country Office for over 20 years. This role allowed him to gain substantial experience in Public Financial Management (PFM), contributing to various significant projects and reforms.
He has also served as a director on the board of Shifa International Hospitals Limited from 29.03.2010 to 27.04.2018 and from 28.05.2018 to 14.05.2019.
He holds memberships in several prestigious professional bodies. He is a Fellow Member of the Institute of Chartered Accountants of Pakistan (ICAP) and a Chartered Global Management Accountant affiliated with CIMA/AICPA. He has previously served on the Public Sector and Technical Advisory Committees of ICAP and is a past member of the American Institute of Certified Public Accountants and ISACA, USA.
His core competencies are vast and varied. He possesses in-depth knowledge of International Standards on Auditing (ISAs), International Financial Reporting Standards (IFRSs), IPSASs, INTOSAI Auditing Standards, and US Governmental Auditing Standards. Mr. Saeed has developed Financial Management Systems and Reporting Manuals for both public and private sector entities. His expertise extends to designing and reviewing accounting and costing systems, policy development, and implementation, including risk management and standard operating procedures.
In his role, he has provided guidance to the heads of internal audit for various clients, focusing on internal audit along with information technology-related controls for the COSO framework and application security. He has managed IT internal audits, the IT controls environment, and IT facilities and equipment procurement processes, providing recommendations for improvement.
Mr. Saeed is responsible for delivering comprehensive audit and assurance services, including independent audits of international non-profit entities, UNDP projects, and other multi-donor agency-funded initiatives both in Pakistan and abroad. He has conducted corporate fraud investigations for regulators and performed pre-award assessments for prospective grant recipients under the USAID Pakistan program.
Additionally, he has developed computerized models for decommissioning cost provisioning and conducted related studies for petroleum clients. As an engagement partner, he has overseen independent audits of funds and grants provided by multi-donor agencies.
His extensive experience in PFM includes working as an accredited Financial Management Consultant with the World Bank since 1998. He has been a part of the core team for the ‘Tax Base Expansion’ study of Sindh Sales Tax on Services, including the preparation of audit and HR manuals and IT assessments. Mr. Saeed has evaluated PFM reforms and conducted PEFA assessments for various government entities.
He has also served on the Pakistan CFAA committee, responsible for reviewing and finalizing assessment reports. His expertise in public sector accounting and auditing standards includes updating gap analysis reports in compliance with IPSAS and INTOSAI.
Moreover, Mr. Saeed has provided financial advisory services, including financial modeling and company formation. He has conducted training programs on IFRS, IAS, and ISAs within his firm and for various multinational clients, with a strong emphasis on quality control. He has also served as an independent director and chairman of the internal audit committee of a public listed company in the healthcare sector.
Shah Naveed Saeed’s rich professional journey, marked by significant achievements and contributions, highlights his profound expertise and dedication to the fields of accounting and financial management.