Professional Overview

Mr. Shahid Hussain is a highly respected Chartered Accountant and Partner at Junaidy Shoaib Asad, having joined the firm in 2023. He brings more than two decades of distinguished experience spanning audit, accounting, professional regulation, and technical standard‑setting. His career reflects a rare blend of hands‑on professional practice and senior‑level regulatory leadership, positioning him as a trusted authority on audit quality, governance, and compliance.

Early Career and Professional Foundation

Mr. Hussain began his professional career with EY Ford Rhodes (formerly Ford, Rhodes, Robson, Morrow Chartered Accountants), a member firm of Ernst & Young. During this formative period, he acquired extensive audit and accounting experience across manufacturing, trading, and financial institutions. This exposure provided him with a strong grounding in International Accounting Standards (IAS), International Standards on Auditing (ISAs), and complex financial reporting environments, shaping his disciplined and standards‑driven professional approach.

Leadership at the Institute of Chartered Accountants of Pakistan

A defining chapter of Mr. Hussain’s career was his long association with the Institute of Chartered Accountants of Pakistan (ICAP), where he served from October 2000 to November 2020. ICAP is the statutory body responsible for regulating the chartered accountancy profession in Pakistan, and his roles placed him at the heart of the profession’s regulatory, technical, and quality assurance framework.

ICAP’s Senior Director – Quality Assurance

From February 2009 to November 2020, Mr. Hussain served as Senior Director Quality Assurance, leading ICAP’s Quality Assurance Department. In this role, he was responsible for overseeing the Quality Control Review (QCR) program, a cornerstone of the Institute’s regulatory framework. The QCR program is designed to ensure that audit firms comply with professional standards, particularly those engaged in audits of listed and economically significant entities, where a satisfactory QCR rating is mandatory under the Code of Corporate Governance.

Mr. Hussain led the planning, execution, and oversight of firm‑wide quality reviews, reporting functionally to the Quality Assurance Board. His work involved evaluating audit methodologies, engagement performance, compliance with ethical and independence requirements, and adherence to international auditing standards. Through this role, he played a pivotal part in strengthening audit quality, enhancing professional discipline, and reinforcing public and regulatory confidence in the audit profession across Pakistan.

ICAP’s Director – Technical Services

Earlier, from October 2000 to February 2009, Mr. Hussain served as Director Technical Services at ICAP. In this capacity, he was deeply involved in the review, adoption, and implementation of international accounting and auditing standards, as well as the development of local standards and technical guidance. His responsibilities included contributing to accounting standards for Islamic financing and investment, preparing technical input for finance bills and corporate laws, and responding to complex technical queries from members and regulatory bodies.

He also maintained close liaison with key regulators, including the Securities and Exchange Commission of Pakistan (SECP), Central Board of Revenue (CBR), and State Bank of Pakistan (SBP), and led research on emerging accounting and auditing issues. This role required a thorough and practical understanding of IAS, ISAs, corporate laws, and tax regulations.

Partner at Junaidy Shoaib Asad

As a Partner at Junaidy Shoaib Asad, Mr. Hussain brings unparalleled regulatory insight, technical depth, and quality assurance expertise to the firm. He plays a key role in strengthening audit quality, governance frameworks, and technical advisory services, ensuring that the firm’s engagements consistently meet the highest professional and regulatory standards.