Offshoring Grows

Here's a somewhat sobering item from Canada's Financial Post: Some accounting firms in Canada are learning the value of offshoring - from their colleagues in the U.S. Gary Marcus, a partner at the Toronto chartered accounting firm Horwath Orenstein, told the Post, ""We found the U.S. was getting into it very deep, primarily from the processing of U.S. tax returns."

Welcome to the growing world of finance and accounting outsourcing. What started out with billing, invoicing, general bookkeeping, accounts payable and receivables is now including tax preparation, even audit services.

According to NASSCOM, an Indian trade body representing the outsourcing business, high-end accounting work now accounts for 30% to 40% of the market.

Accounting ripe for outsourcing [Financial Post]