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2 clusters · 7 sources · 15 days · First seen · Last updated
Accounting industry workforce and outsourcing trends
Overview
The accounting sector is increasingly utilizing offshoring and outsourcing to address significant workforce shortages and rising financial complexity. Research from Chartered Accountants Australia and New Zealand indicates a projected shortfall of approximately 17,900 professionals by 2035, with current fill rates for roles such as auditors and taxation accountants remaining low.
While many large firms are adopting offshoring as a temporary capacity boost, small businesses face unique hurdles, including budget constraints and difficulty competing with larger firms for talent. To manage regulatory demands, smaller operations are considering hybrid models—retaining in-house controllers for oversight while delegating routine tasks like bookkeeping and payroll to external providers. For businesses expanding internationally, utilizing local specialists is noted as a method to meet specific jurisdictional obligations.
Entities
Jobs and Skills Australia · Inside Public Accounting · Marquee Staffing · Oxford Economics Australia · Chartered Accountants Australia and New Zealand
Timeline
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[BUSINESS] 5 sourcesAccounting staffing and outsourcing trends for small businesses
Small businesses face accounting staffing challenges like budget constraints and high turnover, leading many to consider outsourcing or hybrid models to manage complexity and international compliance.
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[BUSINESS] 2 sourcesAccounting firms adopt offshoring to combat workforce shortages
Accounting firms are utilizing offshoring and technology to combat projected professional shortages, though experts warn that true workflow redesign is needed to manage risks and efficiency.
Sources
boz.com.au · businessnewsthisweek.com · dev.to · finance-monthly.com · insidepublicaccounting.com · marqueestaffing.com · webledger.in