Why Accounting Firms Should Hire Offshore Talent and Build Offshore Team?

There is a significant shortage of accountants in North America. The AICPA Trends Report reveals a decline in candidates taking the CPA exam. The number of first-time candidates has decreased from 48,004 in 2016 to 32,188 in 2021, marking a 33% drop attributed directly to declines in enrollment in accounting programs. Additionally, the retirement of baby boomers, who make up approximately 25% of the workforce, is occurring rapidly, with 10,000 boomers retiring each day. This has far-reaching consequences for the accounting profession, affecting various areas of practice such as bookkeeping, accounting, audit, tax, and advisory services. Here are the top reasons why Accounting firms should consider offshore talent.

  • Expand the talent base to other geographics and markets to bridge the talent shortage.
  • Cut upto 75% in costs for bookkeeping and other similar individual contributor roles.
  • Save time sourcing and screening profiles but instead focus on the practice growth.
  • Take advantage of the time zone difference to reduce the cycle time of the deliverables.
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Accounting

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  • Management Accountant
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Finance and Backoffice

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  • Accounts Payable Assistant
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  • Accounts Payable Supervisor
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  • General Accountant
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Tax

  • Tax Preparor - Individual
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  • Senior Tax Preparor
  • Tax Accountant
  • Tax Supervisor
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Audit

  • Audit Associate/Senior
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  • Audit Supervisor
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Why Choose SkillBench?

Expand your talent pool
with young experienced professionals.

Focus on your business growth
Save time on sourcing and screening candidates.

Never pay for recruiting fees
(Save about 20-25% in Year 1).

Save 30 - 50%
on FTE cost - year over year.

Scale your talent needs
as your business grows.

Flexible work models
FTE work model and/or Time and Expense model

Confidentiality & Security
To protect your and/or client's information.

Dedicated Account Manager
To answer your questions and give you timely updates.

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Five Stage Perfection Plan - How does it work?

1
Discovery and Signup

Discovery call to discuss your business needs and signup.

2
Source and Screen

Review and shortlist candidates

3
Interviews and Selections

Interviews and Online Assessments

4
Onboarding

Access, IT Set up and Onboarding

5
Growth

Managing and scaling offshore teams

Communication

How do we vet Offshore Talent?

Technical Skills

Our assessment procedure thoroughly evaluates candidates' hands-on proficiency and understanding in Excel, logical reasoning, accounting, tax and audit tools. This evaluation is conducted through practical assignments and multiple-choice questions (MCQs).

Communication Skills

We evaluate candidates' communication skills in alignment with the specific requirements of the role. For positions that involve interacting with clients, we prioritize strong English communication skills. Additionally, for roles that entail written communication, we assess language proficiency and written abilities.

Soft Skills

During our screening process, we assess soft skills to ensure the candidates have good interpersonal skills, problem solving, work ethic, time management, and teamwork.

Background Check

Our foremost concern is the safety and integrity of our clients, their business and their data. To ensure this, we incorporate reference checks, employment checks and, criminal background checks into our hiring process.

Technology Skills

We also assess proficiency in Microsoft Office, Quickbooks, Accounting Software, General computer skills, Cyber Security awareness to align with technological advancements.

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