The Future of Auditing: Leveraging Onshore Outsourced Staff for Success

In the world of auditing, many still cling to the notion that everything has to happen in the office. Face-to-face meetings, paper shuffling, and desk-to-desk collaboration have long been the gold standard.

But, as we’ve all learned over the past few years, the times are changing. The pandemic shook up the business world, and even the most traditional firms began rethinking their operations.

Outsourcing, once viewed as an off-limits topic for audit teams, started gaining ground. Yet, there remains a lingering attachment to having staff physically present.

Enter onshore audit work outsourcing — or onshoring — a solution that combines the best of both worlds. With this model, audit firms can outsource their staffing needs to offshore providers, but the talent comes onshore, physically working in the UK.

It’s a flexible, innovative approach that can boost efficiency, reduce costs, and address the growing talent shortage — all while keeping that comforting feeling of having your team close by.

Let’s dive deeper into what this means for your firm and why it could be the perfect solution for your auditing needs.

The Current Scenario

Although the incline toward remote working has increased since 2020, a majority of the accounting and audit professionals returned to the in-office setup in 2023. With in-person conferences, meetings, and networking events on the rise, this trend is only expected to increase.

What Are the Benefits of Onshore Audit Outsourcing?

The idea of outsourcing has typically been associated with sending work overseas, but onshoring flips that concept. Onshore audit outsourcing is about bringing offshore talent, often from countries like India, to work directly from your offices in the UK.

This hybrid approach offers a host of benefits, especially in today’s fast-paced, resource-constrained world of auditing.

1. Access to a Larger Talent Pool (Without Going Global)

With an ever-growing talent shortage in the UK, finding qualified audit professionals is becoming more challenging and expensive. Onshoring taps into a global talent pool, bringing experienced professionals from countries like India into your UK offices.

This approach gives you access to specialised talent that may not be readily available locally but with the added bonus of physical proximity.

2. Reduced Recruitment Costs

Hiring audit professionals in the UK can be costly — salaries, recruitment fees, training, benefits, etc. Onshore outsourcing significantly lowers these costs.

Offshore talent is generally more affordable, and by leveraging the experience and skills of professionals from abroad, firms can reduce recruitment and operational expenses while maintaining high audit quality.

Plus, there’s no need to worry about additional office space since many providers offer flexible, temporary staffing solutions.

Must read: How Much Does It Cost to Outsource Audit Support Services

3. Maintaining Control and Culture

One key concern with outsourcing is often a loss of control. But with onshoring, you can keep that control while enjoying the benefits of outsourcing.

You can bring outsourced staff into your office, allowing them to work alongside your team, follow your processes, and immerse themselves in your firm’s culture. This way, you maintain that all-important oversight while still benefiting from outsourcing’s cost and efficiency advantages.

4. Scaling Up Without the Hassle

Audit firms often have seasonal peaks where workloads skyrocket — year-end audits, for example. Scaling up your team during these periods can be a headache.

With onshoring, you can scale your team on-demand without the stress of long-term commitments or complex onboarding processes. When the busy season ends, you simply scale back, allowing your firm to remain agile and cost-effective.

How Can I Find a Reliable Onshore Audit Outsourcing Provider?

The idea of bringing offshore staff to work onshore sounds great, but finding the right provider is crucial. Not all outsourcing firms are equal and ensuring that the one you choose understands your needs is key.

1. Look for Industry Experience

The first step in finding a reliable onshore outsourcing partner is to ensure they have industry experience. Your provider should have a track record of working with auditing and accounting firms. Ask for references, case studies, or testimonials to get a sense of how they’ve helped other firms succeed.

2. Strong Compliance and Security Standards

Auditing is a sensitive field, and security and compliance are paramount when dealing with client data. Make sure the outsourcing provider has robust security protocols in place, especially around data sharing and storage. You’ll also want to ensure that they comply with UK laws and regulations, including GDPR.

3. Comprehensive Support and Integration

A reliable outsourcing provider won’t just dump staff into your office and disappear. They should offer ongoing support and integration to ensure the outsourced team fits seamlessly into your operations. This includes training, cultural integration, and clear communication channels.

4. Transparent Pricing and Terms

Avoid surprises by working with a provider that offers transparent pricing and flexible terms. Make sure you understand what’s included in their fees, whether it’s related to visas, relocation costs, or equipment. Ask about their contracts to ensure they align with your firm’s budget and workload.

What Skills Should I Look for in Onshore Audit Staff?

Once you’ve selected a provider, it’s time to think about the skills your onshore audit staff should bring to the table. While technical skills are essential, they aren’t the whole picture. Here are the key traits to look for in onshore audit professionals:

1. Strong Technical Knowledge

Your onshore staff should have robust technical audit skills, with experience in areas such as financial reporting, risk assessment, and internal control evaluation. They should also be familiar with UK accounting standards and regulatory requirements.

Consider conducting technical assessments during the hiring process to ensure they meet your firm’s standards.

2. Adaptability and Problem-Solving

Auditing is often unpredictable, and problems can crop up at any time. Whether it’s uncovering discrepancies or managing last-minute client demands, you need staff who are adaptable, quick on their feet, and skilled problem solvers.

This trait is particularly important in an onshore outsourcing setup, where cross-cultural communication and unexpected challenges may arise.

3. Excellent Communication Skills

Onshore staff will be working closely with your UK-based team and clients, so communication is vital. Look for professionals fluent in English who can clearly explain complex audit issues and are comfortable working in a collaborative environment.

4. Cultural Compatibility

Since your onshore audit staff will be integrated into your firm, they must fit your team’s culture. Assess whether they share your firm’s values and work ethic during interviews. A good cultural fit can make all the difference in ensuring smooth collaboration and high-quality audit outcomes.

LEARN MORE ABOUT ONSHORING

Wrapping Up: The Future is Onshore

Onshore audit work outsourcing is fast becoming a game-changer for UK audit firms, providing a cost-effective way to tackle staffing shortages without losing control over processes. It combines the advantages of offshore talent with the comfort of on-site presence, allowing firms to stay competitive in a tightening market.

So, if you’re an audit firm looking to future-proof your operations, it might be time to consider onshoring. QX Accounting Services, a market leader in the outsourcing space, can be your go-to partner for onshore support and tailored solutions.

Want to know how it would work for your firm? Our experts will be happy to help! Call us at +44 208 146 0808 or email us at [email protected] to get a callback from our team.

After all, as the saying goes, you can have your cake and eat it too — and in this case, that cake is made of talent, efficiency, and cost savings. Delicious!