Accounting Outsourcing in the Philippines

Summary:

• Significant savings: Cut up to 70% in costs without sacrificing quality.
• Skilled workforce: Access certified accountants with global standards and strong English skills.
• Flexible scalability: Grow or downsize your team based on real-time business needs.
• End-to-end solutions: Connext handles recruitment, training, tools, and facilities.
• Secure, compliant operations: Ensure financial data security and international regulatory compliance.

The article discusses Accounting Outsourcing in the Philippines.

What is Accounting Outsourcing?

Business owners seek to hire outsourced teams to manage all financial transactions, from fixed payments and variable expenses to bank deposits and budgets, while reducing costs and improving operations.

Accounting Outsourcing is designed to provide the business with accounting service support. Accounting Outsourcing lets you transfer Accounting functions to a third-party provider that hires a team of outsourced accountants to provide accurate quantitative information on the financial position, liquidity, and cash flows of our business, and ensures compliance with tax regulations.

The Philippines finance and accounting BPO market generated USD 1.76 billion in revenue in 2024 and is expected to reach USD 3.63 billion by 2030, growing at a CAGR of 12.8% from 2025 to 2030, nearly double the global average growth rate for the sector.

The global Accounting business process outsourcing (BPO) market is composed of external or third-party business process outsourcing providers located either onshore, nearshore or offshore.

Finance and Accounting Onshore Outsourcing is a type of strategy where businesses decide to outsource accounting services to a provider located in the same country. Nearshore Accounting Outsourcing is when a business decides to outsource to a provider located in a neighboring country. Lastly, Accounting Offshoring is a type of outsourcing which is the process of businesses hiring, building, managing a dedicated team or staff through an outsourcing partner located outside a company’s geographical location to support business processes.

Business Process Outsourcing in Finance and Accounting industries enables delegation of data entry services such as the providing calculations to businesses, preparing of budget forecasts, processing invoices, maintaining accounting records, auditing financial documents and procedures, reconciling bank statements, and calculating tax payments and returns, publishing financial statements on time, organizing, managing and processing billing and invoice reports, maintaining accounting records, and making sure procedures are fully compliant.

Outsourced Accountants have the technical expertise in accounting principles, can work comfortably with numbers, can adapt to a fast-paced work environment, have excellent accuracy, attention to detail, planning and organizational and communication skills.  

Is Accounting among the Top Outsourced Functions?

Accounting is a highly technical function which makes this function related tasks the top outsourced function, next to IT tasks.

According to Global Team’s 2026 Outsourcing Statistics, 60 percent of U.S. companies are expected to outsource their finance and accounting functions by 2027. A 2024 Deloitte survey also found that 54 percent of SMBs had already outsourced at least one core accounting activity, and the motivation goes beyond cost.

While,Insignia Resources reports that 65 percent of companies outsource primarily to free up their internal teams.

Accounting Outsourcing in the Philippines

The Philippines is a top Accounting outsourcing destination for investors who want to expand operations offshore.

The Philippines is regarded as a highly literate and proficient English-speaking country. Offshore businesses with English as the primary language can easily assign tasks to outsourced accountants in the Philippines who have high literacy and comprehension of the language.

Filipinos are also used to the business process outsourcing setup and the time zone differences when working with a client offshore. Filipinos can easily adjust to your company’s operations and adjust to time zone differences. Outsourced Accountants can be assigned schedules, alternate working schedules or even provide 24/7 support depending on the client. 

How Qualified are Accountants in the Philippines?

The Philippines remains one of the world’s most active labor markets for business process outsourcing, with accounting and finance roles consistently among the most in-demand functions in the sector.

According to IBPAP via Business Inquirer, the Philippine IT-BPM industry closed 2025 with USD 40 billion in export revenues and 1.9 million workers, growing at 5 percent and outpacing the global average of 3 percent. Employment is expected to rise further to 1.97 million jobs by 2026.

Within accounting specifically, the Philippines is home to over 200,000 CPAs trained in U.S. and international standards, making it one of the deepest offshore finance talent pools in the world, according to AbroadWorks’ 2026 Accounting Outsourcing Report.

Accountants are among the list of Cross-cutting In-Demand and Hard-to-Fill Occupations in the Information Technology – Business Process Management (IT-BPM) Key Employment Generator (KEG).

The Philippines is a great way to start when outsourcing Accounting services. Let’s take a look at required qualifications to be Certified Public Accountants in the Philippines.

Professional recognition or accreditations are Achieved by becoming a member of the Philippines Institute of Certified Public Accountants (PICPA).

For domestic public companies, the Philippines has adopted IFRS Standards as Philippine Financial Reporting Standards (PFRSs), except on the aspect of revenue recognition under IFRS 15 for real estate companies that avail of the relief granted by the SEC. For listings by foreign companies and SMEs, IFRS Standards adopted as Philippines Financial Reporting Standards (PFRS) are required.

To qualify as a Certified Public Accountant (CPA), Accounting graduates are required to complete a Bachelor of Science degree in Accountancy (BSA) degree, higher or equivalent or a Bachelor’s Degree In Accounting, higher or equivalent. This course takes approximately 5 years full time to complete. Aside from these, to qualify, graduates must pass the Certified Public Accountant Licensure Exam (CPALE).

The Certified Public Accountant Licensure Exam (CPALE) is one of the most difficult board exams. The CPALE is a culmination of knowledge and mastery of Accounting concepts such as Auditing, Management Advisory Services, Financial Accounting and Reporting, Advanced Financial Accounting and Reporting, Taxation, and even Regulatory Framework for Business Transactions.

According to the Professional Regulation Commission (PRC), 3,460 out of 10,171 examinees passed the October 2025 Certified Public Accountant Licensure Examination (CPALE), held across 18 testing centers nationwide, yielding a 34.02 percent passing rate.

This follows the May 2025 exam, where 3,156 out of 9,533 examinees passed at a 33.11 percent passing rate. Both results reflect a positive upward trend compared to previous years, confirming that the CPALE remains one of the most rigorous licensure examinations in the country, and that Filipino CPAs who pass it meet exceptionally high professional standards.

Once qualifiers have passed the CPALE, continuous training, whether achieved from formal, informal or non-formal learning including professional work experience, is mandatory.

Republic Act No. 10912, otherwise known as the “Continuing Professional Development (CPD) Act of 2016”, was created as the mandatory compliance in the advancement of knowledge of all registered and licensed professionals under the regulation of the Professional Regulation Commission (PRC), such as Certified Public Accountants (CPAs). PRC Professionals are required to take CPD Credit Units, or the value of an amount of learning can be accumulated to predetermined levels, to receive the renewal of their Professional Identification Card.

Aside from these outsourced accountants are well-versed in accounting software. The “Continuing Professional Development (CPD) Act of 2016” encourages CPAs to also have up-to-date knowledge and training of functionalities of software and systems. Sample software that are commonly used in the Accounting industry which outsourced accountants are knowledgeable in are:

• Intuit QuickBooks Online
• Oracle Netsuite
• Freshbooks
• Zoho Books
• GoDaddy
• Wave Financial
• Sage Business Cloud Accounting
• Xero

When outsourcing accounting to the Philippines, look for a provider who can conduct cloud connectivity training sessions and support existing cloud-based helpdesk software, cloud-based collaboration and connectivity tools. Connext Global Solutions can support your active customer service software or preferred customer service software.

Connext Global Solutions is a global business process offshore outsourcing provider based in the Philippines that builds, hires, trains, and manages outsourced Accounting teams for your business.
Businesses looking to outsource Accounting functions can hire the following:

• Bookkeepers
• Accounting Associates
• Junior CPAs
• Senior CPAs
• Controllers
• Data Entry Specialists

Clients can build a customized, 100% dedicated offshore Accounting team.

FAQ: Accounting Outsourcing in the Philippines