- There is a surge in the US outsourcing sector, specifically in the offshore model of the Accounting, Tax, and Auditing market.
- Increasingly Indian Chartered Accountants are starting to provide outsourced Accounting, Tax, and Auditing services.
- But discovering the names of US CPA firms can be tricky. Here’s how to do it.
Tapping into the USA’s Outsourced Auditing Market
CA Ankur Sharma was working at EY Global Delivery Services (GDS) when he learned more about the US Accounting, Tax, and Auditing market.
In October 2020, he became aware of a significant surge in the outsourcing sector, specifically in the offshore model. It was noted that every US firm was seeking to manage its costs. They were looking for skilled resources that could deliver quality service.
Looking back, it was Ankur’s dream to start his own.
“I started learning about the market a little more. Eventually, I reached out to 15 random US CPA firms. Out of them, 5 CPA firms responded, and after a few back and forths, one firm went ahead with the idea.
At that time the CPA firm’s name was Benjamin & Ko. They were basically a startup and wanted me to exclusively handle their back-office operations. There has been no turning back ever since,” said Ankur
Ankur’s firm Benjamin Accountants and Advisors is now a part of Kreit & Chiu’s global network.
In March 2021, Kreit & Chiu had a revenue of USD 700,000, and now they are close to becoming a USD 5 Mn firm.
But how can one discover the names of US CPA firms?
1. Online Business Directory or Database
- Utilize online business directories or databases like Manta, Yellow Pages, or Dun & Bradstreet.
- These platforms enable you to search for firms based on their location, industry, name, and other relevant criteria.
- Explore the websites of state CPA societies or accounting organizations like the American Institute of Certified Public Accountants (AICPA) to obtain lists of CPA firms in particular regions or industries.
2. Search Engines
- An alternative method to locate US CPA firms is by using search engines like Google.
- Enter relevant keywords such as “CPA firms in [city/state/region],” “accounting firms in [industry],” or “CPA firms specializing in [service],” you can pinpoint firms that match your criteria.
- This approach can assist you in identifying potential partners for your outsourced accounting and tax business.
3. PCOAB’s Website
- One can refer to the Public Company Accounting Oversight Board (PCAOB). The PCAOB is a regulatory organization that supervises the audits of public companies in the US.
- To access the list of registered CPA firms with the PCAOB, visit their website and use the AuditorSearch tool. This tool helps to search for registered CPA firms by name, location, or registration number.
- The PCAOB’s annual reports can also be downloaded from their website, which provides a list of all registered CPA firms along with their audit clients, locations, and other pertinent information.
- However, it’s crucial to note that not all CPA firms are registered with the PCAOB, as registration is only mandatory for firms that audit public companies.
- Therefore, if you’re searching for CPA firms that focus on providing services to private companies or individuals, you may have to utilize other resources to locate potential clients.
According to a report by Statista, the global outsourcing market size in 2020 was estimated to be around $92.5 billion, and it is projected to reach $110 billion by 2024.
The US is one of the leading outsourcing markets globally, and in 2020, it accounted for about 40% of the total outsourcing market revenue.
With the right approach and resources, entrepreneurs can tap into this thriving market and provide quality services to US clients.
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