A. F. Ferguson & Co.
| Company type | Private |
|---|---|
| Industry | Accounting |
| Founded | 1893 in British India |
| Founder | Alexander Fletcher Ferguson |
| Headquarters | Karachi , Pakistan |
Area served | Pakistan, Afghanistan |
| Products | Accounting services |
| Parent | PricewaterhouseCoopers Pakistan (PwC Pakistan) |
A.F. Ferguson & Co. is a renowned accounting firm based in Pakistan, originally founded in 1893 during the era of British India.
History
Alexander Fletcher Ferguson, a chartered accountant from Scotland, arrived in Bombay in 1889 to serve as the chief accountant for Ritchie Stewart & Co. He established the region's first British chartered accountancy practice in 1893. In 1898, P. G. Irvine joined as a partner, prompting the firm to be renamed Ferguson & Irvine. Following Irvine’s exit in 1902, the firm adopted the name A. F. Ferguson & Co., with Ferguson and W. Turner Green as partners. The company grew by opening branches in Karachi in 1908 and Lahore in 1926.
After the partition of India, the Pakistani segment of the firm became independent in 1952, maintaining offices in Karachi and Lahore, while the Indian branch continued operating under the original name.
In 2012, Omar Zakhilwal, then Afghanistan’s finance minister, accused A.F. Ferguson & Co. of being implicated in a $900 million banking fraud scandal connected to Afghanistan.
Pakistan
The present-day Pakistani entity is the main continuation of A. F. Ferguson & Co.’s British Indian legacy. It stands as one of Pakistan’s oldest and largest accounting firms and functions under the PricewaterhouseCoopers brand as PricewaterhouseCoopers Pakistan (PwC Pakistan). Additionally, it operates an office located in Kabul, Afghanistan.
United Kingdom
A London branch was launched by Alexander Fletcher Ferguson in 1912. This office was renamed Ferguson, Gilchrist & Co in 1925 and subsequently became Ferguson, Rowland & Davis in 1954. A merger with Maidment & Co occurred in 1981, resulting in the formation of Ferguson Maidment & Co.
India
Recognized as India’s oldest accounting firm, A.F. Ferguson & Co. merged with Deloitte in 2004. Mukund Dharmadhikari, who was senior partner at A.F. Ferguson & Co., assumed the role of joint managing partner at Deloitte Haskins & Sells India following the merger.
Bangladesh
An office was inaugurated in Dhaka (then part of East Pakistan) in 1963. After Bangladesh gained independence, this branch became an autonomous firm known as Hoda Vasi Chowdhury & Co.
External links
- Financial services companies of India
- Accounting firms of the United Kingdom
- Financial services companies of Pakistan
- Financial services companies of Bangladesh
- Accounting firms
- Financial services companies of Afghanistan
- Pakistani subsidiaries of foreign companies
- Indian companies established in 1893
- 1893 establishments in British India
- Financial services companies established in 1893