Akhlaq Ahmed, Senior Managing Director, Global Investigations Practice, J.S. Held

Global consulting firm J.S. Held, has announced the addition of Akhlaq Ahmed, Senior Managing Director in the firm's Global Investigations Practice. Akhlaq is a Fellow of the Institute of Chartered Accountants of England & Wales (ICAEW) and a seasoned expert helping clients with accounting dispute and investigation matters. With over 25 years of global, cross-sector experience, he advises corporations, government agencies, regulators, investors and law firms on dispute, investigations, compliance and regulatory matters.

Akhlaq's addition to the J.S. Held team is timely as the full implications of the Economic Crime and Corporate Transparency Act 2023, now law, should be front and center in corporate board rooms. These include:

  • Expanded pre-investigation powers of the Serious Fraud Office (SFO) and the National Crime Agency (NCA) – in line with the induction of a new corporate offense for companies failing to prevent fraud
  • Widened range of culpability and penalties for fraud (beyond the direct perpetrator), in particular, making senior management culpable to fines and criminal penalties should they fail to protect the public against fraud risk
  • Extraterritorial implications of Schedule 13 Offences, including false accounting, fraud by false representation, fraud by abuse of position, and fraud by failing to disclose information

Earlier this year, Nasdaq released the 2024 Global Financial Crime report indicating that the total cost of financial crime, likely well understated, is estimated to be USD 3.1 trillion.

Akhlaq Ahmed specializes in undertaking focused proactive risk reviews, helping businesses identify potential fraud risks before they escalate. "It is apparent that many organizations are unaware of existing fraud or corruption risk," Akhlaq explains. "Our proactive reviews of financial accounting controls, policies, procedures, and practices help identify red flags and support adherence to regulations like the U.K.'s Criminal Finances Act."

In reactive scenarios, Akhlaq conducts thorough financial and accounting reviews to help establish the facts in disputes and investigations. His work spans multiple sectors, including pharmaceuticals, defense, technology, media, telecoms, retail and the public sector.

Greg Esslinger, Executive Vice President and Global Investigations Practice Lead, shares, "Akhlaq brings extensive experience in specialist accounting investigations, including identifying accounting gaps and financial 'black holes.' He complements our expertise in Digital Investigations & Discovery by applying his knowledge of forensic technology and data analytics to make sense of financial and accounting flows."

"Akhlaq's ability to synthesize complex financial data and his experience with contract compliance investigations significantly enhances our services," said Simon Placks, Senior Managing Director and EMEA Lead for the Digital Investigations & Discovery service line within J.S. Held's Global Investigations practice. "His expertise in supply chain contract investigations and business intelligence adds depth to our cross-functional teams."

"Akhlaq's diverse experience, particularly in supply chain financial and accounting investigations, fills a gap in the EMEA region," added Philip Worman, Senior Managing Director of Global Investigations at J.S. Held.

SOURCE: J.S. Held

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