Accounting Is the New IT As U.S. Firms Expand Hiring In India

India-West News Desk

NEW YORK, NY – Several American accounting firms, including RSM US, Moss Adams, Bain Capital-backed Sikich, and CohnReznick, are ramping up their operations in India to combat a significant shortage of qualified accountants in the US

This talent shift is fueling increased enrollment in specialized commerce programs across India and may position the country as a growing center for global accounting expertise. The trend draws parallels to the tech outsourcing boom of the 1990s, which transformed India into a key player in the global IT industry.

According to the U.S. Bureau of Labor Statistics, approximately 1.78 million people were employed as accountants in the U.S. in 2024—down around 10% from 2019. The decline is largely attributed to retirements among senior professionals, without a sufficient influx of new talent to replace them. The American Institute of Certified Public Accountants (AICPA) has acknowledged a persistent “talent pipeline issue,” noting that nearly half of its members are over the age of 50.

Reuters reports that firms are increasingly feeling the pressure, with several businesses delaying annual reports and other key filings due to the scarcity of accounting professionals. The profession has also seen declining interest from younger generations, who are deterred by long hours, relatively lower salaries compared to other financial careers, and a CPA licensing rule that typically requires five years of higher education.

In response, RSM US told Reuters it plans to more than double its Indian workforce to 5,000 by 2027. Sikich is also expanding its hiring efforts in India, not only to fill accountant and auditor roles but also to support automation and AI-driven initiatives with local tech talent.

This pivot toward Indian recruitment mirrors the path taken by global tech giants like Microsoft, JPMorgan Chase, and Walmart, which have long relied on India’s deep pool of engineering professionals, Reuters pointed out.

Looking ahead, the U.S. Bureau of Labor projects that demand for accountants and auditors will rise by 6% between 2023 and 2033—faster than the average growth rate for all occupations. To keep pace, some mid-tier firms are now actively recruiting from Indian universities and even offering to fund CPA training for young hires, underscoring the urgency to bridge the talent gap.

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