Indian accounting talent is currently a magnet for US business. This is generating growth not only in the hiring of Indian accountants to work in the US but also in the outsourcing of US accounting work to India-based service providers.
According to the US Bureau of Labor Statistics, US employment of accountants and auditors is projected to grow by 6% between 2023 and 2033, above the all-occupation average. Around 130,800 US openings for accountants and auditors are projected each year over the decade and US employers are struggling to find staff; the accounting sector had around 1.78 million employees in 2024, 10% fewer than in 2019.
‘There has been a tectonic shift in how global firms perceive Indian talent’
Outsourcing
In India, the Big Four accountancy firms together employ between 140,000 and 160,000 professionals in global capability centres (GCCs), especially for US work, according to Hyderabad accounting trainer Simandhar Education.
‘There has been a tectonic shift in how global firms perceive Indian talent especially in accounting and finance,’ says Sripal Jain, co-founder of Simandhar Education. ‘For Indian professionals, particularly those with global credentials, this surge in hiring is opening doors to high-paying roles, global exposure and international career pathways right here in India.’
Beyond compliance
Remote outsourced compliance roles are typically what is on offer from many US firms looking for Indian professionals, according to Keyur Sanghavi, a partner at KA Sanghavi in Surat, Gujarat. But he adds that candidates with business management skills can land more challenging and higher-level roles.
The breakout from compliance work may be accelerated by draft regulation from the Institute of Chartered Accountants of India (ICAI) to enable Indian firms to enter formal partnerships with global accounting networks. The aim is to help Indian firms to attract international clients, leverage foreign expertise for global assignments and expand internationally.
Sanghavi says by opening up of avenues for cross-border tax, advisory and consultancy jobs, the regulation could also enable mergers of Indian firms with the major international accounting networks further encouraging US recruitment of Indian talent. He believes the reform will enhance the international competitiveness of Indian firms and help them train more globally recognised accounting professionals.
There is an influx of mid-sized US firms tapping India’s talent pool
As for the outsourcing route, Subashini Kalyanasundaram, an Internal Revenue Service enrolled agent and Indian CPA, based in Atlanta, Georgia, says many Indian accountancy firms are targeting US tax preparation and accounting work. ‘Most firms in India receive more outsourced US individual income tax returns than corporate returns from larger firms, primarily because of the large volume. These firms typically conduct a self-review, while the final review is managed by a supervisor in the US.
‘Some large firms sponsor employees to gain more knowledge and experience in handling complex tax work, including corporations and partnerships. This enables the firms to offshore corporate returns and accounting as well.’
Influx
India has also become a hub for global firms looking to hire accounting and finance talent, according to Jain. He says that while the Big Four have been hiring in India for years, there is now an influx of mid-sized US firms such as RSM and CBIZ CLA, and even boutique tax firms tapping India’s financially literate, tech-savvy and English-speaking talent pool. The result, he adds, is high demand for Indian accountants with knowledge of US GAAP and IFRS Standards, audit and assurance, taxation (especially US), transfer pricing, data and financial analytics and ESG (environmental, social and governance) reporting.
Campus interviews for roles with US firms are thriving. ‘Firms like RSM, Deloitte, PwC, Grant Thornton and BDO regularly recruit directly from Simandhar,’ Jain says. ‘RSM US conducted a special hiring drive exclusively for Simandhar students and offered 50-plus roles in audit and tax within a quarter.’
‘Indian accounting professionals are highly qualified and quick learners’
Meanwhile online job portals such as Upwork are popular with freelance accounting professionals. Others such as Basis 365 Accounting, QX Accounting Services, Indinero and Team Up also work for specialised outsourcing. More established Indian accountancy firms often deal directly with their foreign clients.
Hot skills
It has all prompted a rethink about equipping the workforce with digital and artificial intelligence skills, says Sanjay Bhayani, general secretary of the Indian Accounting Association, which promotes knowledge and research in accounting. He adds that accounting education extends to related disciplines such as AI and IFRS Standards at university and college levels too.
‘The nuts and bolts of accounting differ only slightly from country to country,’ Pendala says. ‘Indian accounting professionals are highly qualified, quick learners, adaptable and deliver much more for the pay packet than their counterparts elsewhere.’ He adds that a professional accountant with a globally recognised accounting qualification and in-demand skills will be sought after.
