India Emerges as a Hub for Accounting Talent Amid U.S. Shortage

U.S. accounting firms are expanding in India to combat the domestic accountant shortage. This trend is boosting commerce course enrolments in India, potentially establishing it as a key hub for accounting talent. The shift echoes the 90s outsourcing boom in tech, with firms hiring directly from Indian campuses.

U.S. accounting firms, including RSM US, Moss Adams, Sikich, and CohnReznick, are looking to India to address a severe shortage of accountants in the United States. This movement is reminiscent of the tech outsourcing boom of the 1990s and is positioning India as a burgeoning hub for accounting talent.

The uptick in recruitment by these firms is boosting enrolment in specialized commerce courses in India, potentially revolutionizing accounting as the tech sector experienced decades ago. Balaji Iyer of Moss Adams India indicated that the U.S. faces a significant shortage of certified public accountants, a trend set to worsen over the coming years.

About 1.78 million people worked as accountants in the U.S. in 2024—10% fewer than in 2019—as seasoned accountants exit without a robust replacement pipeline. Measures such as directly hiring from Indian campuses and supporting CPA courses are being taken to mitigate the impact of the shortage.

(With inputs from agencies.)