As the worldwide accounting sector is very much the same with the lack of talents, Tony Sacre, President & CEO of Allinial Global, argues that India is the solution to the problem. Talking about the country’s huge talent pool, well-established accounting culture, as well as the rapid growth of global capability centers, Sacre asserted that India is turned out to be one of the leading sources of accounting professionals in the world.
“It is noticed that the industry is facing a huge challenge regarding the shortage of staff, thus, with partners retiring and a shortage of young professionals, the future does sound dim. As a result, India could be the way out—if not the only way,” Sacre pointed out.
Counting 12 Indian member firms such as KNAV, JP Chawla & Co, and Neeraj Bhagat & Co, Allinial Global, the world’s second-largest independent accounting association with a revenue of $6.76 billion in FY25 and an operating presence in 112 countries, is on its way towards expanding its network.
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Unlike the Big Four networks Deloitte, PwC, KPMG, and EY which operate under unified branding, shared methodologies, and common systems while facing challenges such as vicarious liability, associations like Allinial unite independent accounting firms that collaborate globally, exchange expertise and resources, and yet maintain complete autonomy.
Moreover, Sacre reasoned out that soon, when the Big Four have to deal with increasing regulatory scrutiny and structural pressures, India can witness the emergence of homegrown firms similar to the Big Four in nature and size.
“Young, technologically advanced workforce in India is what makes the country stand out from the crowd and is it why the global accounting profession is getting to be India-driven more and more,” Sacre mentioned.
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