Why Pakistan is the Next Big Thing in Outsourcing for Accounting and Taxation Services

Pakistan is rapidly emerging as a hub for outsourcing of accounting and taxation services. With a highly skilled pool of professionals, including the Institute of Chartered Accountants of Pakistan (ICAP) and Association of Chartered Certified Accountants (ACCA) members, Pakistan offers a unique opportunity for firms looking to outsource their back-office functions. 

But what makes Pakistan such an attractive option for outsourcing? First and foremost, the availability of highly trained accounting and taxation professionals is a major factor. ICAP, as an IFAC member body, has established a rigorous training and certification process that ensures the highest level of expertise among its members. Similarly, Pakistan has one of the largest bodies of ACCA professional members across the globe, which speaks to the quality of accounting and taxation professionals in the country.

In addition to the high quality of professionals available in Pakistan, recent events have created an even more compelling case for outsourcing to the country. Over the past year, the Pakistani rupee has devalued by over 50%, which has made the cost of hiring skilled professionals from Pakistan significantly more affordable. This devaluation has created an incredible opportunity for firms to access top-tier talent at unbeatable rates. 

Moreover, the time zone difference between Pakistan and other major outsourcing hubs like the United States and Europe allows for seamless 24/7 service delivery, making it even more attractive for accounting and taxation firms that require timely and accurate financial reporting.

In summary, Pakistan is quickly becoming a destination of choice for outsourcing accounting and taxation services, with its highly trained professionals, affordable rates, and convenient time zone difference. By leveraging the talent pool and cost savings in Pakistan, firms can focus on their core competencies and achieve strategic growth objectives. So, if you are looking to outsource your back-office functions, Pakistan should be at the top of your list of options to consider.