Corporate Profile

Corporate Profile
Outsource your back-office operations
while you focus on core activities and
business growth

Outsource your back-office operations while

you focus on core activities and business
growth

www.aceadvisory.biz www.aceadvisory.biz
Table of Contents
Who We Are 1

Partners Profile 1

Manpower Strength 1

What Do We Do 1

Why Choose Us 1

Our Office 1
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Who We Are
ACE Advisory is a leading provider of professional services in Bangladesh split into five core
competencies:

Corporate Finance & Taxation HR & Payroll Advisory

Secretarial Accounting

ACE Advisory grew from a vision to create a world-class outsourcing and professional services firm that could
service clients across the world and in Bangladesh. Started by two dynamic individuals, the firm has in almost a
decade of operations, established a branch which is associated with high quality professional services and
in-depth insight into regulatory matters. Led by some of best minds in accounting, payroll, tax and consulting, ACE
Advisory employs people with a diverse range of skills working collaboratively to put the client first. Our people
are encouraged to think beyond the obvious and combines strategic thinking, innovative technology and rigorous
research methods to provide advice that doesn’t just solve problems but takes developments to the next level.

We focus on providing an integrated set of multidisciplinary services with our deep local and global knowledge.
Whether a client wants to setup in Bangladesh or outsource its payroll function, we provide the support by
combining deep sector expertise, local insight and technology. We provide a single point of contact to coordinate
continuous management of outsourced operations across our five business services.

Our Team

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At ACE Advisory, we believe in encouraging people within the firm to be their best and
work in a culture that empowers them. Our employees are our greatest assets and are
vital to the growth and success of our clients as well as our own firm. We provide the
highest quality training alongside practical work experience that will equip employees
with the latest technical knowledge and interpersonal skills. We focus heavily on
developing the knowledge within the firm as this is an integral part of our suite of
services to our valued clients. As a recognition of the quality of our training program,
ACE Advisory was awarded ACCA Gold Status Approved Employer – Trainee
Development. This symbolizes the support ACE offers to the trainees that enables them
to be the best version of themselves and in turn ensuring the quality of their output.

Global knowledge
–
Local Expertise

Our Vision
To be the most preferred business process outsourcing (BPO) and advisory firm for global
and local clients in Bangladesh.

Our Mission
To enable our clients to maximize value by focusing on core business activities while we
take care of the rest.

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Partners Profile

“
At ACE Advisory we not only
endeavour to simplify complex
regulations and processes for clients,
but also assist them in managing
their operations to remain compliant
in a cost effective manner.
Montakim Ahmed
Founder Partner

Montakim is one of the Founder Partners of ACE Advisory and brings with him over a decade of finance, corporate
secretarial, treasury, tax and financial management systems knowledge. Montakim is a qualified chartered
accountant and well known in Bangladesh’s professional services arena. He was previously the CFO & Company
Secretary of BRAC EPL Investments Limited, one of the top 5 investment banks locally for over 6 years. He started
his career with KPMG where he obtained extensive experience in audit, BPO, accounting, tax and advisory and was
key to establishing the Finance & Accounting BPO unit during his time there.

Montakim is one of the leading experts in complete company management affairs and specializes in the areas of
corporate secretarial, regulatory compliance, corporate tax and licensing. He has advised global clients in the
Renewable Energy, Oil & Gas, Manufacturing and Service sectors with regards to their operations in Bangladesh.
He leads the technology wing of ACE Advisory and has been instrumental in automating various compliance
related processes and development of customized software for the Bangladesh market.

Montakim is a Fellow member of the ACCA, a leading UK body for professional accountants and a member of the
Institute of Chartered Accountants in England and Wales (ICAEW).

Follow him on Linkedin

www.linkedin.com/in/montakimahmed/
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Partners Profile

Seezan Mumith Choudhury

Founder Partner
“ We strive to exceed our client’s
expectations and are committed to
building long term relationships
with all our stakeholders.

Seezan is a founder Partner of ACE Advisory and has been a professionally qualified accountant since 2008 with
extensive experience in audit, accounting, tax and advisory services. His experience in advisory services includes
set up advisory in Bangladesh with in-depth understanding of the local and international tax, foreign exchange
controls, and regulatory affairs. He has assisted clients with business and strategic planning, due diligence, cross
border transactions, management consultancy, designing & implementation of accounting system and internal
controls restructuring work.

Seezan has also been involved in the growing start up eco-system in Bangladesh contributing as speakers in
various platforms, advisor and mentor to founders to help navigate the complex tax and regulatory issues as well
as assisting with corporate structuring. He has held outsourced CFO positions in some of the most successful
start-ups in Bangladesh.

He is also responsible for the firm’s people strategy, including recruiting, performance management and creating a
learning environment. Prior to setting up ACE Advisory, he worked in senior management capacity at KPMG
Bangladesh where his portfolio included some of the largest multinationals and corporate houses in Bangladesh
and had over 60 clients under management at the time of his departure.

Seezan completed his B.Sc (Hons) in Economics from University College London (UCL) and is a Fellow member of
the ACCA.

Follow him on Linkedin

www.linkedin.com/in/seezanchoudhury/
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Manpower Strength
All employees (except administrative staff) are registered with (as a member or trainee
accountant) either:
Association of Chartered Certified Accountants (ACCA)
Institute of Chartered Accountants in England and Wales (ICAEW)
Institute of Chartered Accountants of Bangladesh (ICAB)
All staff are fluent (spoken and written) in English and Bengali.
All staff are trained extensively in local taxation and all other regulations.
All employees (except administrative employees) are trained in the use of various
accounting and payroll software used in providing outsourced back office services.

Managers Partners

Supervisors

Total
strength

Associates
Administrative Staff

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What D o We D o
Finance & Accounting Outsourcing
We assist clients move their general everyday accounting to a cost-efficient solution while ensuring accuracy and
adherence to relevant standards. This includes outsourcing entire Accounting & Reporting functions using our
standardized process management to drive higher impact. Our experts utilize popular Bookkeeping and
Accounting Software platforms and for clients who do not have accounting software, we engage a SaaS (software
as a service) model where we provide licensed QuickBooks deployment as part of accounting services. Our
accounting software is hosted in secure cloud servers with daily backups and enhanced security designed to
provide the highest level of security for client data.

Software We Use

Our services:

Billing and invoicing

Customer Master Data Management/Contract Administration.

Credit Management Services and Contract Management Services

Transaction processing, including accounts payable and travel and expense processing.

Financial integrity, including vendor statement reconciliations, interface management and payment
accuracy controls.

Document management.

Asset and transactional processing, including fixed assets, intercompany accounting, cash management
and banking.

Period close and data integrity, including master data maintenance, account reconciliation and analysis.

Financial and government reporting, financial, tax, management and regulatory reporting.

Accruals, journals and reconciliation services.

Financial statement preparation as per International Financial Reporting Standards (IFRS).

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Tax Services
Tax is the single biggest compliance burden and concern for businesses globally. Regulators are constantly
increasing tax rates, scrutiny and legislation to ensure higher state earnings. Consequently, businesses must
ensure complete/absolute compliance to local regulations to avoid such reprimand. Our tax experts have extensive
local work experience in managing both direct and indirect taxation in Bangladesh. We help both global and local
companies manage their tax compliance obligations locally transparent. Our services include:

Tax Deduction Withholding Tax Corporate Income Returns Preparation

Compliance Payment Tax Return & Filing

1 TAX DEDUCTION COMPLIANCE

We provide real time support to clients to ensure each transaction (customer invoices, vendor invoices,
payments, and receipts) is compliant for tax and VAT in Bangladesh.

2 WITHHOLDING TAX PAYMENT

We prepare necessary forms (challans) for payment of withholding tax to Government Exchequer.

3 CORPORATE INCOME TAX RETURN

We assist clients in preparing their annual 4 RETURNS PREPARATION & FILING
We assist clients by preparing and submitting
corporate income tax returns and filing of the the following returns to the NBR:
same to the NBR. This includes:
Monthly VAT Return
Preparation of tax computation based on Monthly Withholding Tax Return
audited financial Half yearly Return under Section 75A
statements and computing total tax Annual Salary Return under Section 108
liability. Annual Employee Tax Filing Return
Collection of all information and under Section 108A
documents required for tax filing. Annual Interest Return under Section 109
Preparation of the tax return and Annual Dividend Return under Section 110
submission to tax authorities along with all Any other return which may be relevant
documents.
Assistance with change in accounting year.
Assistance with obtaining ITES (IT Enabled
Services) exemption in Bangladesh.

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Corporate Secretarial
We help companies become and remain compliant with all local corporate secretarial requirements. Our
experienced partners and team have unrivalled local knowledge to help your business adhere to local regulations.
From set-up to liquidation, our professionals take care of recurring filings, routine corporate changes and catch-up
compliance services. ACE can standardize processes and reporting for your entities’ compliance activities, while
providing you with local expertise and support.

Our Services:

1 5
Company and
Pre-setup advisory partnership winding up
at RJSC.

2 6
Company or Branch/liaison/represe
partnership formation ntative office
at the RJSC dissolution at BIDA

3 7
Branch/liaison/repre Trade License
sentative office Holder/Representative
formation at BIDA Services

4 8
Trade Regular secretarial
license/e-TIN/BIN/IRC/E compliance services
RC registration services

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Holding Board and General Change of Registered Address
Meetings, drafting of notices, at RJSC, City Corporation
Regular agendas, resolutions and NBR
secretarial
compliance Amendment of Renewal of
services Memorandum registration and
or Articles of Association licenses

Share Transfers Change of Directors

New share issuance Filing annual returns to RJSC

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HR & Payroll
The administration of payroll services is becoming more complex and challenging with increased scrutiny and
reporting requirements in Bangladesh. Our HR and Payroll Management Services ensure clients can focus on
business strategy while we take care of all payroll management, taxability and other country specific issues.
Outsourcing to us will save costs by reducing manpower and infrastructure requirements. We specialize in taking
care of the HR and Payroll functions in Bangladesh and minimize risk of fines, reputational damage or even
criminal prosecution that may arise out of a non-compliant local HR function. We support this unique payroll
capability with leading technology to maximize efficiency and delivery. We have our own solution, consisting of an
employee portal, data exchange and a report function. Our solution allows both HR managers and employees to
login to view pay slips, record attendance and leave and generate year end reports on their own. Our payroll
software is hosted in secure cloud servers with daily backups and enhanced security designed to provide the
highest level of security for client data and we provide our own secure cloud-based File Sharing portal to ensure
sensitive data is not transmitted over email. Our services include:

1. Local Payroll Solutions 2. Expatriate Payroll

Solutions
Assistance with employment contracting and ensuring
compliance with Labor regulations. Work permits & visas
Salary structuring and optimization for maximum tax Local bank account services
benefits in Bangladesh. Expatriate tax management
services
Monthly payroll processing including updating
changes to employee contracts, variable pay, bonuses Hypothetical tax calculation
etc.

Generating pay slips as per specific client requirement

Disburse password protected pay slips via secure

channels to employees or bulk pay slips to HR
managers.

Prepare tax deposit forms and 3. HR Support

submission/transmission of tax payments to
Government Exchequer.
HR function outsourcing
Provide detailed customized payroll reports to HR
Executive recruitment
managers.
services
Generate leaver documentation. Local provident fund/gratuity
fund setup and management

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PEO & EOR Services

We are one of the few firms providing Professional Employer Organization (PEO) and Employer of Record (EOR)
services in Bangladesh for temporary or permanent staff.

If you are looking to grow your business in Bangladesh and hire local employees, ACE Advisory streamlines this
process with its PEO and payroll solutions

Why choose our PEO & Employer of Record?

ACE Advisory’s PEO & Employer of Record means hiring new employees, or trading in Bangladesh, in as little as
48 hours. We take care of recruitment, payroll and compliance, leaving you to focus on growing core business in
a new market.

PEO & Employer of Record – how it works?

Hire and onboard local

1 2
Begin operating in Bangladesh employees in as little as 48
without establishing a foreign hours compared to the
entity saving time and money. 4–6-week market average.

We manage salary, social You maintain day-to-day

3
contributions and expenses,
leaving all risk mitigation and
HR duties to a team of local
4 control of your employees
while we provide on-going
support to ensure
experts.

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Advisory Services
We help clients formulate their corporate strategy enabling them to build more effective organizations, reduce
costs and increase scope for technological intervention. We assist clients in evolving to meet changing industry
trends and management focus. In the long run, we remain closely associated with guiding our clients to achieving
their business strategy by innovating, cutting costs, managing risk, leveraging talent and changing the way they do
business.

Our experience combined with the understanding of local business practices and personal relationships with wide
range of industry specialists enables us to support your business goals.

In a rapidly growing economy like Bangladesh, there is constant change and improvement in the way business is
carried out. Global best practices are becoming more relevant along with requirements for compliance. From our
extensive experience in working with multinational clients over the years, we provide our clients with the right mix
of global best practices tailored specifically for the unique challenges of operating in Bangladesh.

Financial and Tax Mergers & Acquisition

Due Diligence Services (both buy and
Services sell side)

Internal Audit
Advisory Catchup Compliance

Services
(Tax & Secretarial)
Services

Feasibility Studies
Corporate Advisory
& Business Plans

The wide range of advisory services at ACE Advisory offers the clients to tap into the extensive
experience of firm in working with foreign and local companies. It gives the client a perfect mix of
global benchmarks tailored to practically serve the client to overcome the unique challenges posed
when operating in Bangladesh.

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Why Choose Us

INTEGRATED SOLUTIONS TECHNOLOGY AS PART OF ADAPTIVE SOLUTIONS

SERVICE Our services are designed so
Our teams are trained to advise
clients on multi-dimensional Each part ofour service delivery that they can be tailored for
areas to ensure compliance to model incorporates the use of clients of any size.
all areas of regulations such as cutting-edge technology to
tax, accounting, audit and ensure effciency, accuracy and
secretarial. data security.

LOCATED CENTRALLY COST EFFECTIVE IN-DEPTH RESEARCH

Modern Office with an emphasis Our services are more cost Clients get access to in-depth
on openness and effective than maintaining an research, regular updates on
communication located in the in-house team. changes in regulations and
heart of Dhaka – Banani. high-quality publications.

Our firm is a Member of AGN International, a global association of separate and

independent accounting and advisory businesses. The mission of AGN is to enable its
members to support businesses and individuals with high standards, straight forward and
practical business advice and local commercial know-how, wherever the need arises
worldwide. Our AGN membership gives us direct access to practical business advice
globally, within a structure of trusted relationships that is designed to deliver high
standards at an affordable cost; an antidote to the complexity and cost of some global
providers. Visit the AGN website to learn more www.agn.org.

AGN International Ltd is a company limited by guarantee registered in England & Wales, number 3132548, registered office 24 Greville Street, London EC1N 8SS, United Kingdom. AGN International
Ltd (and its regional affiliates; together "AGN") is a not-for-profit worldwide membership association of separate and independent accounting and advisory businesses. AGN does not provide
services to the clients of its members, which are provided by Members alone. AGN and its Members are not in partnership together, they are neither agents of nor obligate one another, and they are
not responsible or liable for each other's services, actions or inactions.

Timeline
Launched offshore
Established a BPO department Launched
full-fledged and started Processes over internally
Setup In 2012 corporate secretarial processing 200+ 600+ tax deposits developed payroll
department monthly UK pay slips per month software

2012 2013 2015 2017 2018

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ACE has a global client base and worked with clients

from over 20 countries.

Sweden

Russia

Netherlands
USA Germany
United Kingdom
Switzerland
China
Belgium Turkey
Spain
Bangladesh
France
Hongkong
India
Malaysia

Singapore

Sri Lanka Indonesia

South Africa

Australia

Technology

Accounting Shared Drive

remote.aceadvisory.biz drive.aceadvisory.biz
TECH
HIGHLIGHT
Tax Compliance Payroll software
tax.aceadvisory.biz payroll.aceadvisory.biz

Generates over
2500 local Moved to own Became Incorporated over
pay-slips 3500 sqft. office member firm of Served over 150 120 entities over
per month in Banani, Dhaka AGN International satisfied clients past 5 years

2019 2019 2019 2020 2020

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Our Office

Find Us

House - 67 (Level -7), Road - 4, Block - C, Banani, Dhaka -1213, Bangladesh

+880 1955 508 855 info@aceadvisory.biz /company/ace-advisory

+880 9638 555 111 www.aceadvisory.biz /facebook/aceadvisory

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We are the perfect fit for any organization