#Top Accounting Outsourcing Companies

[legaljini23]

Outsourcing Your Accounting Needs: A Comprehensive Guide

Introduction

Outsourcing has become a common practice for businesses looking to streamline their operations and reduce costs. One area where outsourcing can be particularly beneficial is in accounting. In this guide, we'll delve into the world of accounting outsourcing, exploring what it entails and how it works.

Understanding Accounting Outsourcing

Outsourcing is the practice of contracting out certain tasks or processes to external parties rather than handling them in-house. When it comes to accounting outsourcing, businesses hire external accounting firms or professionals to handle their financial tasks, such as bookkeeping, payroll processing, tax preparation, and financial reporting.

Benefits of Accounting Outsourcing

Outsourcing accounting tasks offers several benefits to businesses, including cost savings, access to expertise, improved accuracy, enhanced efficiency, and the ability to focus on core business activities.

Cost Savings

By outsourcing accounting functions, businesses can avoid the costs associated with hiring and training in-house accounting staff. Additionally, outsourcing firms often operate in countries with lower labor costs, further reducing expenses.

Access to Expertise

Accounting outsourcing firms employ highly skilled professionals with expertise in various aspects of accounting and finance. This ensures that businesses have access to specialized knowledge and experience that may not be available in-house.

Improved Accuracy

Outsourcing firms specialize in accounting tasks, meaning they are well-equipped to ensure accuracy and compliance with regulatory requirements. This can help businesses avoid costly errors and penalties.

Enhanced Efficiency

By delegating accounting responsibilities to external experts, businesses can streamline their operations and free up internal resources. This allows staff to focus on core business activities, leading to increased productivity and efficiency.

How Accounting Outsourcing Works

The process of accounting outsourcing typically involves several key steps:

Assessment: The business identifies its accounting needs and evaluates potential outsourcing partners based on factors such as expertise, reputation, and cost.

Onboarding: Once a suitable outsourcing partner is selected, the business establishes contractual agreements and provides access to relevant financial information and systems.

Task Allocation: The outsourcing partner assumes responsibility for specific accounting tasks, which may include bookkeeping, accounts payable and receivable, payroll processing, tax preparation, and financial reporting.

Ongoing Communication: Regular communication between the business and the outsourcing partner is essential to ensure that accounting activities are carried out accurately and in accordance with the business's needs and objectives.

Monitoring and Evaluation: The business monitors the performance of the outsourcing partner and evaluates the quality of accounting services provided. Adjustments may be made as necessary to optimize efficiency and effectiveness.

Continuous Improvement: Both the business and the outsourcing partner work together to identify areas for improvement and implement measures to enhance the overall accounting process continually.

FAQs (Frequently Asked Questions)

What are the typical services offered through accounting outsourcing? Accounting outsourcing can encompass a wide range of services, including bookkeeping, accounts payable and receivable management, payroll processing, tax preparation, financial reporting, budgeting, and forecasting.

Is accounting outsourcing suitable for businesses of all sizes? Yes, accounting outsourcing can benefit businesses of all sizes, from small startups to large corporations. Outsourcing allows businesses to access professional accounting services without the need to maintain an in-house accounting department.

How can businesses ensure the security of their financial data when outsourcing accounting tasks? It's essential to choose a reputable outsourcing partner with robust security measures in place to protect sensitive financial information. This may include encryption protocols, access controls, and compliance with data protection regulations.

What factors should businesses consider when selecting an accounting outsourcing partner? When choosing an outsourcing partner, businesses should consider factors such as the partner's expertise and experience, reputation, track record, pricing structure, communication capabilities, and compatibility with the business's values and objectives.

What are some common challenges associated with accounting outsourcing? Challenges associated with accounting outsourcing may include communication barriers, cultural differences, data security concerns, regulatory compliance issues, and the need for ongoing monitoring and oversight.

How can businesses measure the ROI (Return on Investment) of accounting outsourcing? Businesses can measure the ROI of accounting outsourcing by comparing the cost of outsourcing services to the value gained in terms of improved efficiency, accuracy, compliance, and overall financial performance.

Conclusion

In conclusion, accounting outsourcing can be a strategic decision for businesses looking to optimize their financial operations and focus on core business activities. By partnering with external accounting experts, businesses can benefit from cost savings, access to expertise, improved accuracy, and enhanced efficiency. However, it's essential to carefully evaluate potential outsourcing partners and establish clear communication and monitoring processes to ensure successful outcomes.

[anamca123]

How Accounting Outsourcing Companies Help Small Businesses Scale

Introduction

Scaling a small business is an exciting, yet challenging journey. One of the most crucial aspects of running a successful business is managing finances. For small businesses, this responsibility can quickly become overwhelming. Enter accounting outsourcing companies — a solution that can provide the financial expertise small businesses need to grow while freeing up valuable time and resources.

In this blog, we’ll explore how accounting outsourcing companies play a significant role in helping small businesses scale, offering them the freedom to focus on their core operations and strategies. From streamlining bookkeeping to ensuring compliance, accounting outsourcing companies offer much more than just basic accounting services. So, if you’re looking for ways to optimize your financial management as you scale, read on.

Why Accounting Outsourcing Companies Are Essential for Small Businesses

As small businesses strive for growth, they often face a common dilemma: how to manage complex accounting tasks efficiently without compromising their limited resources. The answer lies in partnering with accounting outsourcing companies. These companies provide specialized services that are both cost-effective and scalable, which is a win-win for small business owners.

Cost-Effectiveness of Outsourcing

Hiring a full-time in-house accountant can be expensive for small businesses. From salaries to benefits and other operational expenses, managing an accounting department can take up a significant portion of the budget. Accounting outsourcing companies, on the other hand, offer flexible pricing models tailored to the specific needs of the business. By outsourcing, small businesses can access high-quality accounting services without bearing the full financial burden.

Access to Expertise and Technology

Small business owners may not always have the expertise to handle complex financial tasks like tax preparation, compliance, or financial reporting. Accounting outsourcing companies employ experts who stay up-to-date on tax laws, accounting standards, and industry best practices. This access to specialized knowledge can save businesses from costly errors and ensure their financial practices align with the latest regulations.

Streamlining Core Business Functions

As small businesses scale, they often face the challenge of balancing the workload across multiple departments. By outsourcing accounting functions, business owners can focus on their core activities, such as product development, customer service, and marketing.

Time Savings and Improved Efficiency

One of the primary reasons small businesses opt for accounting outsourcing companies is the time savings. Managing accounting tasks internally often means dedicating hours every week to bookkeeping, payroll, and tax filings — time that could be better spent on activities that directly contribute to business growth. With an outsourced partner handling the finances, business owners gain the time to focus on strategic decision-making, customer acquisition, and scaling operations.

Reducing Administrative Burden

Handling day-to-day financial tasks like invoicing, managing accounts payable and receivable, and preparing financial statements can be time-consuming. Outsourcing these functions not only reduces the administrative burden but also ensures accuracy. Mistakes in financial records can lead to compliance issues or missed opportunities. Accounting outsourcing companies have the tools and knowledge to ensure that all financial processes are handled smoothly and accurately.

Improved Financial Insights and Decision-Making

Accurate and timely financial information is vital for making informed business decisions. Accounting outsourcing companies provide detailed financial reports that offer deeper insights into the financial health of a business. With clear and accurate data, business owners can make better decisions related to cash flow, profitability, and investments.

Customized Financial Reporting

Unlike generic reports, outsourced accounting services provide customized financial reports that are tailored to the unique needs of your business. Whether you’re looking for a cash flow statement, profit and loss statement, or balance sheet, outsourcing companies will ensure you have access to the data that helps you make key business decisions.

Strategic Planning and Forecasting

Small businesses often operate with limited resources, making it essential to plan ahead. Accounting outsourcing companies not only manage your books but also assist with financial forecasting and long-term strategic planning. These companies can help small businesses identify trends, predict future cash flows, and plan for upcoming financial challenges — all critical components of scaling successfully.

Maintaining Compliance and Managing Risks

As small businesses grow, they must navigate complex regulatory environments, including tax laws and industry-specific regulations. Failing to comply with these regulations can result in fines, penalties, and even legal trouble. Accounting outsourcing companies help small businesses stay compliant by ensuring all taxes are filed accurately and on time.

Tax Compliance and Filing

Tax compliance is one of the most challenging aspects of running a business, especially with constantly changing regulations. Accounting outsourcing companies are equipped to manage tax filings, deductions, credits, and deadlines, reducing the risk of costly mistakes. Whether you need help with sales tax, payroll taxes, or income tax filings, outsourcing firms ensure compliance with all relevant laws.

Managing Financial Risks

Financial risks are an inherent part of doing business. However, with the expertise of accounting outsourcing companies, small businesses can effectively manage these risks. These companies employ risk management strategies such as cash flow monitoring, expense tracking, and debt management to minimize financial uncertainties. This proactive approach helps business owners scale without worrying about unexpected financial pitfalls.

Scalability: Adapting to Growing Needs

As your business grows, so do its financial needs. What works for a small startup may not be sufficient as the business expands. Accounting outsourcing companies offer scalability, allowing businesses to adjust the level of service they need as they grow.

Flexible Services for Different Stages of Growth

Whether your business is in its early stages or has already reached a mid-sized operation, accounting outsourcing companies offer a range of services that can be scaled up or down. This flexibility means that you’re not locked into a one-size-fits-all solution. You can add more services as needed, such as payroll management, budgeting assistance, or tax advisory services, to match the changing needs of your business.

Seamless Integration with Business Growth

One of the most significant advantages of working with accounting outsourcing companies is their ability to scale alongside your business. As your business expands into new markets, hires more employees, or diversifies its offerings, an outsourcing partner can adjust its services accordingly. Whether it’s managing increased transaction volumes or handling complex multi-state tax filings, outsourcing firms provide seamless integration that grows with your business.

Frequently Asked Questions (FAQs)

What is accounting outsourcing, and how does it benefit small businesses?

Accounting outsourcing refers to the practice of hiring external professionals or companies to manage a business's accounting functions, including bookkeeping, tax preparation, payroll management, and financial reporting. For small businesses, this is a cost-effective way to ensure accuracy and compliance while focusing on core business operations.

Why should small businesses outsource their accounting services?

Small businesses typically lack the resources to maintain a full-time accounting team. By outsourcing, they gain access to specialized expertise without the overhead costs of hiring an in-house accountant. Additionally, outsourcing allows for greater efficiency and time savings, which are critical as businesses scale.

How can outsourcing improve my small business's financial decision-making?

Outsourcing accounting services provides small business owners with accurate and timely financial data, which can guide critical business decisions. Custom financial reports, forecasting, and trend analysis offered by outsourcing companies help business owners make informed decisions that promote growth.

What risks do small businesses face by not outsourcing their accounting?

Without professional accounting support, small businesses risk falling behind on tax filings, compliance issues, and financial reporting. This can result in costly fines, legal trouble, or missed opportunities for growth. Outsourcing helps mitigate these risks by ensuring accuracy and timeliness in financial matters.

Is it expensive to outsource accounting services?

While the cost of outsourcing accounting services depends on the specific needs of the business, it is generally more affordable than hiring a full-time in-house accountant. Outsourcing offers flexible pricing, allowing small businesses to only pay for the services they need, making it a cost-effective solution.

How do accounting outsourcing companies help with tax compliance?

Accounting outsourcing companies stay up-to-date on changing tax laws and regulations, ensuring that small businesses remain compliant. They handle tax filings, deductions, credits, and deadlines, helping businesses avoid fines and penalties for late or incorrect filings.

Can accounting outsourcing companies scale with my business?

Yes, accounting outsourcing companies are highly scalable. As your business grows, you can adjust the level of service provided by your outsourced accounting partner, adding more services or increasing support as needed. This ensures your accounting needs are met at every stage of growth.

What should I look for when choosing an accounting outsourcing company?

When selecting an accounting outsourcing company, it’s essential to look for expertise in your industry, a strong track record of accuracy, and the ability to provide personalized services. Consider factors like pricing, flexibility, and the range of services offered to ensure they align with your business's needs.

Conclusion

Scaling a small business requires careful planning and efficient management of resources. By partnering with accounting outsourcing companies, small businesses can leverage specialized expertise, technology, and scalable services to streamline financial processes, ensure compliance, and make data-driven decisions. As businesses continue to grow, the flexibility and cost-effectiveness of outsourcing accounting services can become a critical component of their success. Investing in this strategic partnership allows small business owners to focus on what matters most: growing their business.

[myndsolution1]

Payroll Processing Software IVAP: Get a Free Demo with MYND

IVAP, an AI-enabled payroll processing software from MYND Solution, automates payroll processes to boost efficiency, accuracy, and compliance. Streamline your payroll operations with this cutting-edge solution, designed to enhance agility and minimize manual errors. Request your free demo today and transform your payroll department with MYND Solution's innovative software.

[milescpareview]

Is Accounting Important for Small Businesses?

Small businesses often face unique challenges in managing their finances, but Certified Public Accountants (CPAs) play a crucial role in helping them grow and succeed. Through their specialized accounting services for small businesses, CPAs provide invaluable support in various areas, ensuring financial stability, compliance, and strategic decision-making. This holds not only in the United States but also in countries like India, where accounting firms cater specifically to the needs of small businesses.

A primary way CPAs support small businesses is by delivering accurate and timely financial reporting. By maintaining meticulous records and preparing financial statements, CPAs empower small business owners to assess their financial well-being and make strategic decisions. This service is particularly crucial for startups and burgeoning businesses in India, where accounting firms specializing in small business services offer personalized solutions.

Additionally, CPAs aid small businesses in navigating intricate tax laws and regulations, optimizing tax savings, and minimizing liabilities. By staying abreast of tax code revisions and identifying eligible deductions and credits, CPAs ensure compliance while devising tax strategies that benefit small businesses. This expertise is invaluable for Indian entrepreneurs seeking accounting firms proficient in managing their tax obligations.

Moreover, CPAs contribute significantly to financial planning and budgeting for small businesses. Through cash flow analysis, financial projections, and budgeting strategies, CPAs help small business owners allocate resources efficiently and achieve growth objectives. This proactive approach to financial management is essential for small businesses aiming to expand and thrive in competitive markets, whether in the US or India.

Furthermore, CPAs provide advisory services that go beyond traditional accounting functions. 

They offer strategic guidance on business operations, risk management, and investment decisions, helping small businesses identify growth opportunities and mitigate potential challenges. This holistic approach to financial management is particularly beneficial for startups and emerging businesses seeking the expertise of the best CPAs for small business success.

In conclusion, CPAs play a critical role in helping small businesses grow and succeed by providing essential accounting services tailored to their needs. Whether it's managing finances, ensuring tax compliance, or offering strategic advice, CPAs are indispensable partners for small business owners seeking to achieve their goals, both in India and around the world.

[hire-accountants-in-the-usa]

Should Firms Recruit Accountants Onshore or Offshore?

The debate between onshore and offshore recruiting for accountants is a significant one for US firms, given the growing demand for skilled professionals in the field. While offshore recruiting, particularly from countries like India, has its benefits, onshoring presents a more advantageous approach. This is especially true when leveraging resources like the Miles Talent Hub, which bridges the talent gap by providing a pool of highly qualified Indian accountants ready to work in the US without the typical visa formalities. This essay will argue why onshoring, with a focus on tapping into the talent from India, is a superior strategy for US firms.

Benefits of Onshore Recruiting

Proximity and Time Zone Alignment

One of the most significant advantages of onshore recruiting is the alignment of time zones. Having accountants who work in the same or similar time zones ensures real-time communication and collaboration. This proximity reduces delays in decision-making and enhances productivity. According to a study by Deloitte, firms that operate within the same time zone can respond more swiftly to business needs, which is critical in the fast-paced world of finance and accounting.

Cultural and Language Familiarity

Onshore recruiting minimizes cultural and language barriers, which can significantly impact the efficiency and effectiveness of communication within a team. Accountants who are familiar with the cultural context of their firm can better understand and meet the specific needs of their clients and colleagues. This familiarity also fosters a cohesive workplace culture, which is essential for employee satisfaction and retention.

Regulatory Compliance

Hiring locally simplifies the process of adhering to regulatory requirements. The US has stringent labor laws and financial regulations that must be meticulously followed. Onshore accountants, especially those trained in the US, are more likely to be well-versed in these regulations, reducing the risk of non-compliance. This is supported by the American Institute of CPAs (AICPA), which emphasizes the importance of understanding local regulatory environments to avoid legal pitfalls.

The Role of Indian Accountants in Onshoring

The growing talent void in the US accounting industry can be effectively addressed by looking at Indian accountants. India's education system, particularly in accounting and finance, is robust, producing highly skilled professionals. However, the challenge has always been the visa formalities and the associated complexities. This is where the Miles Talent Hub comes into play.

Miles Talent Hub: Bridging the Gap

The Miles Talent Hub provides US firms with access to over 1,200 Indian accountants who are ready to work in the US on direct payroll, bypassing the traditional visa hurdles. These professionals have graduated in MS Accounting (STEM) from top US universities and are pursuing their CPA certifications. This initiative offers several advantages:

High-Quality Talent Pool Indian accountants trained in the US bring a blend of international perspective and local expertise. They are well-versed in US GAAP and other regulatory frameworks, ensuring compliance and high standards of financial reporting. Their education from top US universities adds an extra layer of credibility and competence.

Cost EfficiencyWhile onshore recruiting typically involves higher salaries compared to offshore, the elimination of visa sponsorship costs and the assurance of having highly qualified candidates ready to work immediately makes this approach cost-effective in the long run. The Miles Talent Hub's model mitigates the financial and administrative burdens associated with traditional hiring processes for accountants.

Seamless Integration Accountants from the Miles Talent Hub are culturally acclimated to the US working environment, having spent significant time studying and often interning in the country. This reduces the learning curve and allows them to integrate seamlessly into US firms, enhancing productivity from the get-go.

Risk Mitigation By hiring accountants who are already familiar with the US regulatory environment, firms reduce the risk of non-compliance. The Miles Talent Hub ensures that their candidates are not only technically proficient but also up-to-date with the latest regulatory changes, thereby safeguarding the firm’s interests.

Conclusion

While offshore recruiting has its merits, the benefits of onshoring, particularly through innovative solutions like the Miles Talent Hub, are compelling. Onshoring provides alignment in time zones, cultural and language familiarity, and a deep understanding of local regulations. By tapping into the talent pool provided by the Miles Talent Hub, US firms can fill the talent void by recruiting highly skilled Indian accountants who bring both global and local expertise. This approach not only enhances operational efficiency but also ensures compliance and fosters a cohesive workplace culture.

For US firms looking to secure top accounting talent, the choice is clear: leverage the resources provided by the Miles Talent Hub to recruit highly qualified accountants who are ready to contribute immediately, ensuring both compliance and excellence in financial reporting.

[mnscredit]

Account Receivable Services: The amount that a client owes the company for goods or services purchased is known as account receivable It's usually the amount that hasn't been paid or that has been charged to your credit card A company's line of credit is referred to as accounts receivable (AR).

[namfintech]

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NamFintech offers cutting-edge accounting software and ERP solutions for businesses in the UK. Trust NamFintech for tailored software solutions that meet your specific financial solutions.

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Future accounting software: Developing trends

Accounting software has come a long way since the days of manual bookkeeping. As technology continues to advance, so too does the software that companies use to manage their finances. In 2023, several emerging trends are shaping the future of accounting software. Read More:  Future accounting software: Developing trends

[rachanasharma1028]

Top Accounting & Auditing Companies in Dubai:- Akai Group is one of the leading accounting and bookkeeping firms in the UAE. Our team of highly qualified and experienced professionals is dedicated to providing the Top Accounting and Bookkeeping service to our clients in the UAE. https://www.akaigroup.com/

[masllp]

Accounting outsourcing services in India

We provide the best Accounting outsourcing services in India and MAS is the top outsourcing and Bookkeeping service Companies in India Accounting Outsourcing Services in India | Accounting Services in India | Bookkeeping | Outsourcing Company

[mavenhuch]

Business Process Outsourcing (BPO) Services in India: A Smart Choice for Your Business

Business process outsourcing (BPO) services in India offer a valuable solution for companies looking to streamline their operations and reduce costs. By leveraging the expertise and efficiency of BPO providers, businesses can focus on their core functions while leaving various operational tasks to specialized partners.

In recent years, India has become a leading destination for BPO services due to its skilled workforce, cost-effective solutions, and advanced technology infrastructure. Companies around the world are turning to Indian BPO firms to handle a range of functions, from customer service and technical support to finance and accounting.

One of the key advantages of choosing BPO services in India is the significant cost savings. Indian BPO providers offer competitive pricing compared to their counterparts in other countries, which helps businesses reduce operational expenses without compromising on quality.

Additionally, the Indian BPO industry boasts a large pool of highly skilled professionals who are well-versed in various domains. This expertise allows businesses to benefit from high-quality service and innovative solutions that can enhance their overall efficiency and productivity.

Moreover, Indian BPO services are known for their flexibility and scalability. Whether you need support for a small project or a large-scale operation, BPO providers in India can tailor their services to meet your specific needs. This adaptability makes it easier for businesses to manage fluctuating workloads and respond to changing market demands.

In summary, business process outsourcing (BPO) services in India present a strategic opportunity for companies seeking to optimize their operations and achieve cost savings. With its skilled workforce, cost-effectiveness, and scalable solutions, India remains a top choice for businesses looking to outsource their processes and focus on what they do best.

[nordholm]

Discovering the Top Finance & Accounting Outsourcing Company in Dubai

Dubai’s dynamic business landscape demands a trustworthy guide to navigate its financial intricacies. Nordholm stands out as the Leading Finance & Accounting Outsourcing Company in Dubai, operating under the esteemed Nordholm Investments. We're not just another firm; we're your strategic partners in achieving business success. From simplifying company formation to hassle-free bank account setups, we cover it all.

What Sets Nordholm Apart?

When choosing an Accounting Outsourcing Company, it's more than just numbers; trust and results are vital factors for success. Our commitment to promptness and quality isn't just a claim – it's our dedication to your success story. Your financial data is beyond safe with us – fortified with unparalleled stability and security that exceeds what part-time accountants offer.

Whether you're a start-up or an established enterprise, our services cater specifically to your needs. Small and medium-sized businesses benefit greatly from our expertise, bidding farewell to in-house accountants and embracing significant cost reductions. Say goodbye to overhead expenses like labor cards and health insurance – Nordholm has you covered!

Our expertise lies in discreetly offering unparalleled Finance & Accounting Outsourcing Services, allowing you to prioritize your core business operations. We're not just behind the scenes; we're the unsung heroes ensuring your business thrives. Our services form the foundation of successful enterprises, providing precise reporting and streamlined operations for enhanced efficiency.

As the foremost Accounting Outsourcing Company in Dubai, we transcend borders. Our specialization lies in supporting your business ventures across various countries, especially within the dynamic UAE landscape. From initial setup to ongoing management, our comprehensive range of services ensures a seamless journey for investors seeking growth opportunities.

Unlock the potential for success and growth with us, your key to seamless financial operations and thriving business endeavors in Dubai. We don’t just handle numbers; we pave the way for your triumphs in the ever-evolving business world.

With Nordholm as your premier Finance & Accounting Outsourcing Services provider, rest assured, your financial journey in Dubai isn't just simplified but also positioned for success. Let’s elevate your business together!

[mostlysignssomeportents]

KPMG audits the nursing homes it advises on how to beat audits

Tomorrow (May 10), I’m in VANCOUVER for a keynote at the Open Source Summit and a book event for Red Team Blues at Heritage Hall and on Thurs (May 11), I’m in CALGARY for Wordfest.

Auditors are capitalism’s lubricants, who keep the gears of finance capital smoothly a-whirl, allowing investors to move their money in and out of companies without having to go pore over their books and walk through their facilities. Without auditors, the gears of capitalism would grind themselves to dust:

https://pluralistic.net/2021/02/18/ink-stained-wretches/#countless

If you’d like an essay-formatted version of this thread to read or share, here’s a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

https://pluralistic.net/2023/05/09/dingo-babysitter/#maybe-the-dingos-ate-your-nan

Unfortunately for capitalism, auditing is irredeemably broken. The Big Four auditors (PWC, EY, Deloitte and KPMG) have merged to monopoly, becoming “too big to fail” and “too big to jail.” These four gigantic firms have spun up fantastically lucrative “consulting” divisions that advise companies on how to cheat on their audits and attain incredible (paper) gains. The work of these “consultants” is worth far more than the accounting and auditing jobs the companies do, and the weaker the audits are, the more profitable the consulting is:

https://pluralistic.net/2021/06/04/aaronsw/#crooked-ref

This crisis has been a long time brewing. Back in 2001, the accounting/consulting giant Arthur Andersen was at the center of Enron’s fraud, which lit $11B in shareholder capital on fire. Enron had been making everyday people angry for years, engineering rolling blackouts and incredible energy-price gouging, but no one cares about working peoples’ complaints. By contrast, stealing $11B from rich people was something the authorities couldn’t ignore. They gave Andersen the death penalty, trying to teach the surviving accounting firms a lesson about what happens when you fuck with plutes.

But those other firms learned the wrong lesson: the collapse of Andersen was so disruptive that it soon became clear that the authorities would never take another giant consulting firm down, no matter how egregious its conduct was. They doubled down on crime, and then doubled down again.

It’s hard to pick a winner in the Big Four Accounting Firm Corruption Olympics, but KPMG is a strong contender, with a long history of just being monumentally inept and wrong. Back when Enron was unspooling, KPMG devoted itself to threatening people who linked to its website “without a license to do so”:

https://web.archive.org/web/20020207141547/http://chris.raettig.org/email/jnl00040.html

A couple years later, they declared war on wifi, trying to convince normies that wireless networks were an existential risk to human civilization:

http://news.bbc.co.uk/2/hi/technology/2885339.stm

But there’s not much money in wifi scare stories or licenses to link. KPMG are good dialectical materialists, devoted to money over ideology, and boy did they figure out some wild ways to make money. For one thing, they figured out that they could get more accountants certified by cheating…on ethics exams:

https://www.marketwatch.com/story/the-kpmg-cheating-scandal-was-much-more-widespread-than-originally-thought-2019-06-18

KPMG’s top managers bribed regulators to give them the answer-sheets for ethics exams. What did they bribe those public employees with? Jobs at KPMG:

https://www.pogo.org/investigation/2020/01/how-accountants-took-washingtons-revolving-door-to-a-criminal-extreme

There’s hardly a month that goes by without another KPMG scandal somewhere in the world, with enormous monetary and social fallout. During the lockdowns, Justin Trudeau’s Liberal government outsourced the creation and maintenance of ArriveCAN (a contact tracing app for people who entered Canada) to a grifter called GC Strategies, who billed millions for their services. GC Strategies didn’t do any work — instead, they paid KPMG $1,000-$1,500 day to hire freelancers to build the app. The app itself was a catastrophic failure, and that failure didn’t just embarrass the government — it also failed to protect Canadians during a once-in-a-century global pandemic. KPMG raked off a 30% commission:

https://pluralistic.net/2023/01/31/mckinsey-and-canada/#comment-dit-beltway-bandits-en-canadien

In the USA, KPMG helped Microsoft work up a radioactively illegal tax-evasion scheme. Microsoft poured the millions it saved by cheating on its taxes into dark-money operations that lobbied to defund the IRS so that KPMG and Microsoft could cook up even more illegal tax-evasion schemes:

https://www.propublica.org/article/the-irs-decided-to-get-tough-against-microsoft-microsoft-got-tougher

But KPMG doesn’t content itself with screwing over everyday people and rotting our democratic institutions — it also engages in the dangerous business of helping billionaires steal from millionaires. KPMG was the auditor that signed off on the scam “oil company” Miller Energy Partners, a fraud that operated for years thanks to KPMG’s rubber-stamp on its crooked books:

https://www.desmog.com/2021/06/03/miller-energy-kpmg-auditors-oil-fraud/

The company was run by serial fraudsters with long rapsheets for stealing millions. They staffed their C-suite with executives from disgraced companies that had been busted for running Ponzi schemes, issuing press releases praising those execs’ “proven track records in raising capital.” KPMG ignored every red flag, ignored the hundreds of millions in fraud on the books — and when the whole thing came crashing down, the responsible KPMG partner kept his job for years, until retiring with a full and fat pension.

More recently, KPMG made millions by confidently certifying the stability of a large regional bank, assuring investors and depositors that it was managing its risk and could be trusted. The name of the client that KPMG was so bullish on will be familiar to you: Silicon Valley Bank:

https://www.wsj.com/articles/kpmg-faces-scrutiny-for-audits-of-svb-and-signature-bank-42dc49dd

KPMG epitomizes the idea of Too Big To Fail and Too Big to Jail. Despite being at the center of virtually every major finance scandal, it continues to thrive and grow. Remember the Carillion bust, in which billions went up in smoke and swathes of privatized government services vanished overnight? Not only did KPMG sign off on fraudulent Carillion books, but it escaped fines for doing so — and got paid to help administer Carillion’s bankruptcy:

https://www.reuters.com/business/finance/uk-watchdog-fines-kpmg-24-mln-over-carillion-regenersis-audits-2022-07-25/

Despite this, KPMG continues to find willing buyers for its services. After all, when the sector is dominated by four giant, lavishly corrupt firms, there’s not much choice in the matter:

https://pluralistic.net/2022/11/29/great-andersens-ghost/#mene-mene-bezzle

This is bad news for the investor class, of course, but it’s even worse news for the people who rely on the services that KPMG certifies, even as it helps grifters destroy them. Every kind of business relies on audits, from transit to aviation to day-care to eldercare.

Here’s a scary one for you: in Australia, the job of auditing residential eldercare homes’ compliance with safety and anti-abuse rules has been outsourced to KPMG. While KPMG earns a mid-sized fortune from these audits, it earns far more advising the owners of residential aged care homes on how to beat those audits:

https://www.theguardian.com/australia-news/2023/may/04/firm-performing-australian-aged-care-audit-also-charging-providers-for-expertise

KPMG says that the division that ensures the safety and dignity of elderly people is firewalled off from the division that advises companies on how to spend as little as possible on that safety and dignity — but KPMG also went to great lengths to keep the fact that it was selling services to both sides a secret.

Once the secret got out, an anonymous KPMG spokesmonster said, “When considering a request to perform an audit, we undertake a detailed process to ensure the engagement is free of conflicts.”

It’s hypothetically possible that this is true, but anyone who believes anything KPMG says is a sucker. The company’s rap-sheet goes back decades. This is, after all, a company that cheated on its ethics exams.

Catch me on tour with Red Team Blues in Vancouver, Calgary, Toronto, DC, Gaithersburg, Oxford, Hay, Manchester, Nottingham, London, and Berlin!

[Image ID: Two business-suited male figures seen side on; each has a bomb for a head, and each is holding a lit lighter that has ignited the other's fuse. Each bomb is wearing a green accountant's eyeshade. In the background is a fiery mushroom cloud. They wear KPMG logos on their lapels.]

Image:

Vectorportal.com (modified) https://vectorportal.com/vector/business-deal-illustration/23215

CC BY 4.0 https://creativecommons.org/licenses/by/4.0/

Inspired by an illustration by Matt Kenyon for the Financial Times: https://www.ft.com/content/07184d86-81cf-11e2-b050-00144feabdc0

[milescpareview]

Advantages of Hiring Accountants in the US

Indian accountants enrich team dynamics with diverse perspectives, global market knowledge, multilingual skills, and advanced technical expertise. Their cultural sensitivity enhances interactions, and their presence broadens the talent pool, filling specialized roles and addressing shortages. Enquire now to explore the diverse abilities of Indian accountants. Visit: https://bit.ly/4bnSYNu

[spookysaladchaos]

EMS and ODM, Global Market Size Forecast, Top 8 Players Rank and Market Share

EMS and ODM Market Summary

Electronics manufacturing services (EMS) is a term used for companies that test, manufacture, distribute, and provide return/repair services for electronic components and assemblies for original equipment manufacturers (OEMs).

The concept is also referred to as electronics contract manufacturing (ECM).

An original design manufacturer (ODM) is a company that designs and manufactures a product as specified and eventually rebranded by another firm for sale. Such companies allow the firm that owns or licenses the Company to produce products (either as a supplement or solely) without having to engage in the organization or running of a factory.

According to the new market research report “Global EMS and ODM Market Report 2023-2029”, published by QYResearch, the global EMS and ODM market size is projected to reach USD 855210 million by 2029, at a CAGR of 4.1% during the forecast period.

Figure.   Global EMS and ODM Market Size (US$ Million), 2018-2029

Based on or includes research from QYResearch: Global EMS and ODM Market Report 2023-2029.

Market Trends：

In a short period of time, markets and consumers’ behaviours have undergone drastic changes due to the outbreak of the coronavirus (COVID-19). From people raiding grocery store aisles to the cancelation of the world’s most significant events and mandates for “non-essential” businesses to temporarily close, this pandemic is having a substantial impact on the economy and society as we knew it.

1. Despite all of the negatives that have come from the COVID-19 pandemic, it has led to several positive outcomes. For example if your product or service can be marketed to coronavirus patients, it is most likely doing well. With the development of the epidemic, there will still be considerable development in the medical industry in 2021.

2. Most of the traditional EMS centres in Southeast Asia will see above trend growth from 2021 – 2025 in response to both trade tensions, and real and perceived excess concentration of manufacturing in China by some leading western OEMs.

3. Over the next 5 years, a number of low-cost Asian countries will see new investments in their nascent tech manufacturing industries.   This likely includes Laos, Cambodia, Myanmar, and Bangladesh.   Much of this investment will be based on the size of existing labor force, as well as growth rates of the labor force and the burgeoning local consumer markets.  EMS and ODM companies from Foxconn to Flex realize that these large investments in new manufacturing centers often take 15 years or more before they really become a competitive force at meaningful scale.

4. A new breed of mid-sized, China based/China only EMS providers will find their wings and expand outside of China to compete with larger multi-national EMS providers from Taiwan and the US.

Market Drivers：

The key driver for the electronics contract manufacturing industry (EMS and ODM) is costs.

High-volume manufacturing in the form of EMS / ODM can be attracted to countries by offering low-cost labor and availability of components

The critical success factors for an EMS / ODM model able to offer real outsourcing cost reductions and benefits that actually help OEMs reduce costs and save money, include:

Low cost geographic destinations

Component costs

Intellectual property (IP) protection

Government tax incentives

Figure.   EMS and ODM, Global Market Size, Ranking of Major Manufacturers 2022

Based on or includes research from QYResearch: Global EMS and ODM Market Report 2023-2029.

The global key manufacturers of EMS and ODM include HONHAI, Compal, Pegatron, Quanta, Jabil, Flextronics, Luxshare, Wistron, Inventec, BYD Electronics, etc. In 2022, the share of top 5 players exceeds 52.68%.

Figure.   EMS and ODM, Global Market Size, Split by Product Segment

Based on or includes research from QYResearch: Global EMS and ODM Market Report 2023-2029.

In 2022, EMS accounted US$ 493771 million in the global EMS and ODM market. And this type segment is poised to reach US$ 646661 million by 2029.

Figure.   EMS and ODM, Global Market Size, Split by Application Segment

Based on or includes research from QYResearch: Global EMS and ODM Market Report 2023-2029.

In 2022, Consumer Devices accounted US$ 231053 million in the global EMS and ODM market, share the largest. And this type segment is poised to reach US$ 306990 million by 2029.

Figure.   EMS and ODM, Global Market Size, Split by Region

Based on or includes research from QYResearch: Global EMS and ODM Market Report 2023-2029.

In EMS and ODM market, North America occupies an important share, with a market share of 36% in 2022, and the market size is expected to reach US$ 191775 million by 2029.

About The Authors

ShiYuanyuan - Lead Author

Email: shiyuanyuan@qyresearch.com

Shi Yuanyuan is a senior technology and market analyst, specializing in chemical industry, agriculture, consumer goods, etc. Analyst Shi Yuanyuan has 3 years of experience in the chemical industry and consumer goods industry, focusing on APIs, chemical intermediates, household appliances, wearable devices, 3C products, etc. She can provide the development of technical and market reports and also participate in custom projects.

About QYResearch

QYResearch founded in California, USA in 2007.It is a leading global market research and consulting company. With over 16 years’ experience and professional research team in various cities over the world QY Research focuses on management consulting, database and seminar services, IPO consulting, industry chain research and customized research to help our clients in providing non-linear revenue model and make them successful. We are globally recognized for our expansive portfolio of services, good corporate citizenship, and our strong commitment to sustainability. Up to now, we have cooperated with more than 60,000 clients across five continents. Let’s work closely with you and build a bold and better future.

QYResearch is a world-renowned large-scale consulting company. The industry covers various high-tech industry chain market segments, spanning the semiconductor industry chain (semiconductor equipment and parts, semiconductor materials, ICs, Foundry, packaging and testing, discrete devices, sensors, optoelectronic devices), photovoltaic industry chain (equipment, cells, modules, auxiliary material brackets, inverters, power station terminals), new energy automobile industry chain (batteries and materials, auto parts, batteries, motors, electronic control, automotive semiconductors, etc.), communication industry chain (communication system equipment, terminal equipment, electronic components, RF front-end, optical modules, 4G/5G/6G, broadband, IoT, digital economy, AI), advanced materials industry Chain (metal materials, polymer materials, ceramic materials, nano materials, etc.), machinery manufacturing industry chain (CNC machine tools, construction machinery, electrical machinery, 3C automation, industrial robots, lasers, industrial control, drones), food, beverages and pharmaceuticals, medical equipment, agriculture, etc.

[2k4bts]

Granted, Taehyung's situation is different from Jungkook's, but not totally. If you are talking about writing your own music and working with morally good, politically aware people, he also failed that. He chose (like sought out) Min Hee-jin to work with for Layover. She's come under fire for allegedly enabling p3dophilic attitudes and actions all the while perpetuating the same behavior by debuting a 14-year old in NewJeans. On top of that, Taehyung outsourced all of his songs, 99% in English. Just like Jungkook did.

I may have missed Tae's explanation behind his work, but I didn't hear anything. Jungkook was clear that his priorities currently are focused on his performance and vocals. On top of that, we've heard JK say he wants to reach both a 'popstar' and a 'kpop idol' status, which would then prompt the company to make different decisions for him. Not every member wants that same fate.

Fam, the backlash tae got for that was something serious. While his songs did well enough on the first day or two, the fandom sort of filtered it out after that. I dont even think the bts accounts post about him or his achievements as often. You'll find that you have to rely on his accounts if anything which is choas cause they're fighting about that too.

If you're only comarison is them outsourcing their songs then my dear, no. Cause at least taehyung retained his sound and signature.

The treatment both releases got is so different and very apparent. And Taehyung while did better than some, did not do as well as people had hoped he would.

You dont have to remind me of what he said, he made it known that he doesn't feel or want to write songs. That scooter gave him his songs and he said thank you. That he was home doing nothing until they called him to sing the songs. How absolutely ridiculous his schedules are cause hybe and scooter are pushing him heavily. I know, I watch his videos.

Yeah the company is making different decisions for each of them but how much different? Jimin wanted a video for all his songs and he was told a blatant no. That it was too much. Why? Geffen has not re stocked most of the bts' members CD for the longest while, especially Taehyung, while restockick others. Why? I'm still wondering that to this day. And if you think hybe aint involved, wake up.

Not every member wants the same fate, I agree. But you can't do a full 180 especially when youve made certain talks against said stuff that you are doing and not expect people to start looking at you different.

It would have been a whole different talk in the streets if things with him were done different. Not everyone likes listening to songs about fking everyday. Why do you think people gravitated towards bts so much. You have to have had some idea that there were going to be disappointments and disgust from people.

Making people feel like shit for feeling some type of way is gross.