Legal Issues for CFOs and Senior Finance Professionals

Legal Issues for CFOs and Senior Finance Professionals

Litigation arises due to lack of legal knowledge and due documentation. Timely opinion, advices, documentation and actions help in minimizing litigation, as is also said that ‘Prevention is better than cure’. Litigation is a Corrective Control, which is the last Control after Preventive and Detective. Litigation is also not good for anyone as well as for society. Only that society grows where there are smooth transactions and activities.

Since March 2020 due to the pandemic of COVID-19, the world experienced unprecedented lockdowns, social cut-off etc. While human being has great resilience and hence adopted various virtual modes of interaction, distant working/learning etc. however there is no substitute of face-to-face interactive learning sessions.

As, now the conditions of social-distancing are easing out, hence taking opportunity of this TerraBiz is pleased to relaunch the famous workshop of ‘Legal issues for CFOs and Senior Finance Professionals’ which has been held for 12 times in Karachi, Lahore and Islamabad and attended by around 366 participants to date.

Litigation Risk arises when a matter is not prima-facie fit or don’t have due legal legs hence when a matter reaches to the courts it causes delay or a party fails to obtain the desired reliefs. In order to mitigate Litigation Risk, knowledge of the court’s procedures and the timing to take various legal actions is of utmost importance. The objective of this workshop is to help in alignment of a company’s activities focusing the Litigation Risk, to mitigate the same.

Management of litigation, especially in fiscal matters starts from the issue of show-cause-notice by the respective authority, then passing of order, demand notices, thereafter appeals are preferred before different forums up to Supreme Court.
At the initial level besides advocates, other professionals are also involved like Chartered Accountants, Income Tax Practitioners etc. however after Tribunal level, only advocates can represent a person before the High Courts and Supreme Court.

Besides Tax References against the Tribunal’s orders before High Court, various Constitutional Petitions are also filed challenging the vires of various enactments or illegal action of the public officers threatening fundamental rights as guaranteed under the Constitution.

CFOs and Senior Finance Professionals are the key officers of a company to deal with lawyers especially in respect of Fiscal Litigtation i.e. litigation regarding Income Tax, Sales Tax, Custom Duty, Provincial Sales Tax on Services etc.

Therefore, it is important for the CFOs and Senior Finance Professionals as well as other officials involved in litigation matters, to know at what point of time, a lawyer is to be consulted or engaged as lawyers also require due time to properly prepare a matter in order to obtain the desired reliefs. It is therefore very necessary that the CFOs and Senior Finance Professionals are also familiar with the court process and what reliefs may be obtained from the court to develop an effective strategy along with the lawyer. The preparation is not only required for a possible Civil Litigation but also for a misconceived Criminal Litigation especially in lieu of recently active Anti-Money Laundering, Benami and Other Laws.

This one-day workshop will help the participants in understanding the court procedures, various terms used in the courts, various documents filed, understanding court’s notices, orders and judgments etc. which will help the participants to identify the litigation risk to take appropriate as well as timely actions to mitigate the same.

The knowledge of court process, orders, terms etc. will also help the participants in effectively discussing the matters with lawyers to design an appropriate litigation strategy.

The facilitator of the workshop having both litigation and the practical experience of working in the Corporate Sector at key positions, especially heading Internal Audit, is duly poised for the workshop to smoothly take the participants through the workshop in order to mitigate litigation or in case it arises, then to take appropriate timely actions by imparting critical litigation knowledge to make it worth more than the investment in the workshop.

This workshop has been specially designed for CFOs and Senior Finance Professionals however anyone who is interested in understanding Court Procedure can attend the workshop.

1. Overview of Court’s process in Civil matters, documents, terms, notices/orders/judgments/decree etc.
2. What are Suits, Petitions, References, Appeals, Interlocutory Applications, etc.
3. Overview of Court’s process in Criminal matters with elaboration of White Collar Crimes and matters before Accountability Courts (NAB), Special Court for Offences in Banks, Anti-Corruption, Special Customs Court etc.
4. Litigation Risks and controls
5. Overview of issues decided by the Courts in respect of Fiscal Litigation as reported in the law journals, during the last six months, mainly relating to Income Tax, Sales Tax, Sales Tax on Services, Excise Duty, Custom duties etc.
6. Study of selected reported cases.

Course Director

Emad-ul-Hasan (FCA & LL.B)

– Advocate, Supreme Court
– Partner, M/s. Abrar Hasan & Co., Advocates & Legal Consultants

Emad-ul-Hasan is a lawyer by profession and a practicing Advocate of High Courts and Supreme Court, dealing in all types of Civil matters especially Corporate, Commercial, Financial and Fiscal matters as well as Criminal matters relating to white collar crimes. So far Emad has appeared before various Courts, in number of cases and has many reported cases to his credit. Emad is the first and the only Fellow of Chartered Accountants from the Institute of Chartered Accountants of Pakistan, who got enrolled as Advocate Supreme Court of Pakistan.

Before starting legal practice full-time in 2006, Emad worked for around 21 years in External Audit, Tax Consultancy, Finance/Accounts and Internal Audit. He spent nine years with M/s. A.F.Ferguson & Co., Chartered Accountants in audit and tax departments, worked with United Bank Limited as one of the Financial Controllers and also worked as Chief Accountant at Banque Indosuez, Karachi. He has an extensive internal audit experience at ABV Rock Group, a large Swedish construction company in Kingdom of Saudi Arabia, as Head of Audit and Compliance at Meezan Bank Limited and lastly served as Head of Internal Audit at Pakistan Industrial Credit & Investment Corporation (PICIC).

Emad is an acclaimed trainer. So far he has carried out 49 workshops/learning sessions/paper-reading. His workshop Legal Issues for CFOs, Company Secretaries, Compliance Officers and Senior Finance Professionals’ has been held for ten (12) times at Karachi, Lahore and Islamabad and attended by around 366 participants. He is teaching ‘Taxation’ and ‘Banking’ at S.M.Law College as Honorary Lecturer and is also author of ‘Lawyers’ Manual-Volume 1 (How to institutionalize legal practice).

Date: Tuesday, 14 December 2021
Venue: Karachi Marriott Hotel
Time: 09:00 am – 05:00 pm

Training Investment

For further information please contact
Bushra Shakil: 0340 8321895 / 0300 2133849

Terrabiz Cancellation Policy

Terrabiz Cancellation Policy: For cancellations made in the 7 working days to the workshop, no refunds will be given. Cancellations must be confirmed by email. Substitutions may be made at any time.

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Glimpses from the Past


Course Facilitator

Emad-ul-Hasan (FCA & LL.B)

– Advocate, Supreme Court
– Partner, M/s. Abrar Hasan & Co., Advocates & Legal Consultants

Date : 14 December, 2021
Time : 9:00 am to 5:00 pm
Venue : Karachi Marriott Hotel

Fee : Rs. 27,500 + SST per participant