Clarity | Integrity | Results
Expert forensic, due diligence and corporate advisory services for businesses operating in Papua New Guinea.
Mahadevan Shankar, MD of MASHAL, presents at the CPA PNG November 2025 conference in Port Moresby
Papua New Guinea is at a critical crossroads
PNG’s placement on the FATF Grey List signals a new era of scrutiny for businesses, financial institutions and regulators operating in the country.
The landscape is already being reshaped by:
- Enhanced due diligence requirements
- Tighter correspondent banking relationships
- Increased pressure on cross-border transactions
Navigating this environment demands more than general advisory experience. It requires specialised knowledge of PNG’s banking and financial services legislation, hands-on forensic expertise, and trusted local relationships that come from years on the ground.
That is what MASHAL delivers.
Originating from the millennia-old Sanskrit and Persian civilisation languages, MASHAL means a flame torch — a bright flame on top of a stave or torch stick held forward to illuminate the path ahead.
This name was chosen because in a complex and rapidly changing regulatory environment, PNG businesses don’t need another generalist advisor. They need expert support that can illuminate the path with precision, integrity, clarity, and experience.
How MASHAL Provides Support
Specialist services delivered at the highest professional standard, with the independence and local knowledge only MASHAL can offer.
Forensic Services
Targeted forensic investigations and accounting to detect, document, and address financial irregularities, including:
- Suspicious transactions
- Structured remittances
- Cross-border financial crime
Due Diligence
Thorough appraisal of counterparties, transactions, and business relationships before you commit.
We help regulators, financial institutions, and businesses verify what they need to know, and identify what others may have missed.
Corporate Advisory
Strategic guidance across M&A, valuations, business structuring, and cross-border transactions.
Practical, independent advice that draws on Big Four expertise and deep knowledge of PNG’s commercial and regulatory environment.
Why PNG Businesses Choose MASHAL
Local Knowledge, Global Standards
Decades of on-the-ground experience in PNG’s banking, financial services, and regulatory environment, combined with Big Four professional rigour and international best practice.
Independence You Can Trust
MASHAL operates with complete independence and impartiality. Our findings are not shaped by competing interests or institutional pressures.
Legislative Depth
From the PNG Companies Act to the Proceeds of Crime Act to the Anti-Money Laundering and Counter-Terrorism Financing Act, MASHAL brings detailed knowledge of the legislation that matters most to your business.
Cross-Border Connections
With established networks across PNG, Australia, and India — including regulators, business councils, academic institutions, and industry bodies — MASHAL connects you to the right people, in the right jurisdictions.
A specialist firm built for this moment
MASH Advisory Limited is a PNG-registered corporate advisory firm, founded by Mahadevan Shankar, a Chartered Accountant qualified in both India and Australia and Certified Public Accountant from CPA PNG, with a 30+ year career spanning Big Four practice, forensic investigations and cross-border transaction advisory services across the Indo-Pacific region.
MASHAL works with regulators, financial institutions and PNG-based businesses to deliver forensic, due diligence and advisory services of the highest professional standard.
Where others see complexity, MASHAL brings clarity.Learn More About MASHAL
MASHAL combines international professional standards with deep on-the-ground PNG knowledge — a combination that generalist advisors simply cannot replicate.
Every engagement is led personally by our founder, ensuring the quality, independence and commitment our clients expect.
MASHAL’s Networks and Affiliations
MASHAL maintains active relationships with leading professional bodies, regulatory organisations, and industry groups.
