The Real CPA Shortage: Is Offshoring Undermining America’s Financial Backbone?
By TED ROSE, ROSE FINANCIAL SOLUTIONS
It’s no secret the accounting profession is having a bit of a “numbers problem.” Headlines warn of a dire CPA shortage, with more than 340,000 accountants exiting the field over the past five years and fewer students taking the CPA exam than we've seen in decades. But amid the finger-pointing — whether it's aimed at long hours, uninspiring pay, or the dreaded fifth year of education — there’s a glaring trend many seem to overlook:
For the past two decades,
America’s top accounting firms have quietly been offshoring their way out of the problem.
The Offshoring Era Goes Mainstream
What began as a cost-saving strategy among the Big Four has trickled down. Now, even mid-sized and smaller accounting firms are leaning into offshore labor, sending critical accounting support roles to countries like India and the Philippines.
And what happens when the entry-level accounting roles — the same ones that build the pipeline of future CPAs and business leaders — are shipped overseas? Salaries stagnate. Opportunities shrink. The profession's value proposition weakens.
In other words, if you’re wondering why starting salaries for accountants haven’t kept up with inflation (or even basic expectations), look no further than the offshore spreadsheet. Why pay more domestically when you can send the work elsewhere?
But this goes beyond paychecks and job postings. There’s something deeper at stake.
America's Financial Infrastructure is Critical Infrastructure
The strength of the U.S. economy has always been tied to trust. Trust in our businesses. Trust in our markets. Trust in our financial reports.
And who is tasked with safeguarding that trust? Accountants. Warren Buffett famously said, “Accounting is the language of business.” However, with the decreasing number of qualified accountants in the marketplace, we are at risk of losing our fluency in this critical language.
That’s why U.S. financial infrastructure is critical infrastructure. We wouldn't offshore national security. Why are we so comfortable offshoring the very people ensuring the accuracy, compliance, and financial health of U.S. businesses?
Government contractors already understand this. Many are already prohibited from exporting confidential financial information overseas, creating a firewall between sensitive financial data and offshore risks. But the broader U.S. business ecosystem has been slower to connect the dots.
Automation is the Future — But Trusted Advisors Are the Future-Proofing
At Rose Financial Solutions, we’ve taken a different path. Instead of sending work offshore in search of cheap labor, we’re investing in our U.S based employees in combination with automation to keep accounting support cost-effective right here at home.
Because let’s face it: by 2030, most accounting processing will be automated. Bank reconciliations, AP entries, and month-end close tasks? Bots are coming for them.
But while automation handles the routine, business leaders still need trusted human advisors who understand U.S. regulations, the nuances of American business, and how to guide companies toward sustainable success.
Advisors who don’t just “do the books” but know what those books mean for long-term growth. Advisors who ensure that the financial reporting underpinning the U.S. market remains the gold standard worldwide.
It's Time to Rethink the CPA "Shortage"
Is there really a shortage of accountants? Or are we creating one by hollowing out the entry-level roles and offshoring our future talent pipeline?
If we want to protect what makes the U.S. economy the envy of the world, it’s time to reinvest in domestic accounting talent — not just through better pay, but by showing that accounting is... Read more in the ROSE Community.
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Ted Rose
In 1994 Ted Rose founded Rose Financial Solutions (ROSE), the Premier U.S. Based Finance and Accounting Outsourcing Firm. In 2010, the Blackbook of Outsourcing named ROSE the #1 FAO firm in the world based on client satisfaction. As the president and CEO of ROSE, he provides executives with financial clarity. Ted has also acted as the CFO for a number of growth companies and assisted with various rounds of financing and M&A transactions.
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