U.S. accounting firms tap India to alleviate talent crunch

Sai Ishwarbharath B

Mon, Apr 28, 2025, 10:25 PM 4 min read

By Sai Ishwarbharath B

BENGALURU (Reuters) -U.S. accounting firms including RSM US, Moss Adams, Bain Capital-backed Sikich and Apax Partners-backed CohnReznick are expanding their operations successful India to tackle an acute shortage of accountants astatine home.

The surge successful recruitment has started boosting enrolment successful specialised commerce courses successful India, and could found Asia's No. 3 system arsenic a hub for accounting talent, reminiscent of the 90s outsourcing roar that revolutionised the tech industry.

"This could beryllium the breakthrough infinitesimal for nationalist accounting firms successful India," Balaji Iyer, managing spouse astatine Moss Adams India, told Reuters. "Right now, the U.S. is facing a important and increasing shortage of certified nationalist accountants, a inclination that volition lone intensify successful the coming years."

About 1.78 cardinal radical were moving arsenic accountants successful the United States successful 2024, astir 10 percent less than successful 2019, according to U.S. Bureau of Labor Statistics data, arsenic galore seasoned accountants retired without a reliable pipeline of qualified replacements.

The American Institute of CPAs (AICPA), the nationalist assemblage that conducts and grades qualifying exams and sets auditing standards for the profession, admitted a “talent pipeline issue” arsenic it commissioned an autarkic survey past year.

About fractional its members are implicit the property of 50.

“The accountant shortage is being acutely felt passim the market," the National Talent Advisory Group survey found, adding that respective businesses specified arsenic toymaker Mattel reported a hold to yearly reports and different cardinal filings owed to the shortage.

Accountancy - known for agelong hours, little wage than galore different concern jobs, and a regularisation efficaciously requiring a 5th twelvemonth successful assemblage for CPA licensing - has besides go unpopular with younger people.

"Fewer students are majoring successful accounting, partially due to the fact that the tract is seen arsenic little breathtaking than tech oregon finance, and automation has added uncertainty," said Rebecca Hann, subordinate dean of probe astatine University of Maryland’s Robert H. Smith School of Business.

Hann published a probe insubstantial connected the country's accountant shortage past year.

RSM US aims to much than treble its India workforce to 5,000 by 2027, the steadfast told Reuters.

Sikich besides said it was progressively hiring successful India to capable vacancies for accountants and auditors, arsenic good arsenic tech endowment to enactment its automation and AI-related efforts.

"Ultimately, it's little astir filling roles 1 for 1 and much astir transforming however we present services, utilizing some highly skilled endowment and precocious exertion to conscionable evolving lawsuit demands," said Bobby Achettu, main astatine Sikich and India operations lead.