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Shashank Karnad

Shashank Karnad

Mahajan & Aibara Chartered Accountants LLPMafatlal Chambers, ‘B’ Wing, 2nd FloorN M Joshi Marg, Lower Parel (East)MumbaiIndia400 013

Global Leader

WWL Ranking: Recommended

WWL says

Shashank Karnad is applauded for his “vast experience in managing investigations for various kinds of fraud and for different industries” and ranks highly for his “strong understanding of the client’s operations”.


Shashank has over 24 years of experience post-qualifying as a chartered accountant in 1996. He has worked extensively in the areas of fraud investigations, litigation support, dispute advisory services, ethics and integrity, anti-money laundering and fraud risk assessment.

Shashank previously worked with KPMG for 18 years, in different roles, in the forensic and risk advisory practices, rising from assistant manager in 2001 to equity partner in 2011. Shashank left KPMG in mid-2019, when he was partner and COO of the forensic business and leader of the dispute advisory services practice, to eventually join FTI as a senior managing director.

Shashank chose a secondment for one and a half years to KPMG’s national quality and risk management team in 2005, during its set-up stage. He also led the launch of KPMG’s Audit Committee Institute (ACI) in India during this period.

In 2009, he was seconded to the KPMG Lower Gulf practice in Dubai, where he set up the forensic practice. During this time, he extensively travelled across the Middle East and North Africa regions for execution of large investigation and dispute advisory projects. He was made partner in 2011 upon his return to KPMG in India.

Shashank has led many investigations in the areas of anti-bribery and corruption, international sanctions, class-action suits, financial misconduct, accounting misstatement, intellectual property theft, procurement, sales and distribution, human resources, fixed assets and softer issues such as victimisation and sexual harassment.

He has also been appointed as an expert accountant and has been cross-examined in over 20 arbitration matters involving several million USD, both in India and overseas jurisdictions, such as London and Singapore. He has had a near-100% success-rate in awards. He has also worked as a tribunal/court appointed expert in arbitrations. He has also worked as a mediator in proceedings, on cross-border transactions in post-acquisition disputes requiring a purchase price adjustment.

He has led many fraud risk assessment engagements across industry sectors. He has also conducted several fraud risk assessment/ethics and integrity workshops for senior management teams and boards of his clients, both in India and UAE.

At KPMG, Shashank was also an EMEA L&D leader and conducted several forensic training sessions for experienced forensic team members across EMEA.

While over time, Shashank has worked across sectors, his sector specialisation has developed in financial services and manufacturing sectors, where he has worked with large Indian and global companies on high-profile, sensitive matters.

Shashank has worked in over 30 jurisdictions across the Americas, Europe, UK, India, Middle East, Africa and Asia during his professional career spanning 24 years.

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