Driving Global Subsidiary Success Through Outsourced CPA Expertise

International companies that establish subsidiary locations in the U.S. often hire local individuals to staff their accounting and financial offices. While these hires may come with the right qualifications for U.S. companies, this does not guarantee that the team has the specialized experience necessary to provide finance and accounting services to a subsidiary of an international company.

International companies have specialized tax needs and complex financial reporting requirements. Many companies also need finance and accounting staff with an advanced understanding of currency translation. Moreover, in the current marketplace, it is difficult to hire qualified finance and accounting professionals, and high turnover can be a significant disadvantage.

For U.S. subsidiaries of international companies, working with a CPA firm that has expertise with global companies ensures consistent and high-quality Business Outsourced Solutions (BOS).

Following is a description of the benefits of hiring a CPA firm to provide BOS, including:

Expertise and Compliance Assurance

• CPA firms specialize in local and international regulations, reducing compliance risk. The right CPA firm will ensure that your company is in compliance with all tax and regulatory requirements for global companies as part of its assurance services.
• Working with a CPA firm gives you access to professionals experienced in cross-border tax, IFRS/GAAP alignment, and audit readiness.
• A CPA firm will provide updates on financial reporting standards and ensure that your financial statements are compliant. Additionally, a CPA firm will support you by maintaining all accounting records, which is invaluable if your company is subject to an IRS audit.
• CPAs can provide access to allied professionals, such as attorneys and bankers, that your international company may need.

Cost Efficiency

• By working with a CPA firm, there is no need for full-time salaries, benefits and training for an internal team. A CPA firm providing BOS will offer flexible pricing models, including monthly fees or project-based pricing.

Scalability

• As your company grows, you will need more complex and sophisticated services. You can easily scale up services as needed with a BOS team from a CPA firm.
• You can immediately access additional resources without a lengthy hiring process.

Technology and Tools

• Working with a CPA firm eliminates the need for your company to invest in a separate accounting software platform, as well as regular upgrades and IT maintenance.
• CPA firms often provide advanced accounting platforms, automation tools, and secure cloud systems.

Above all, a CPA firm’s Business Outsourced Solutions can provide a holistic approach to your company’s finance and accounting needs. Instead of working with just a bookkeeper or controller, you have an entire back office team. Additionally, your team coordinates with the CPA firm’s audit team and tax team to ensure your company is in compliance with laws and regulations every step of the way.

We’re Here to Help

Working with a CPA firm that has extensive experience with foreign-based businesses and offers outsourced financial and accounting services can help your U.S.-based subsidiary get started quickly and with confidence.

JLK Rosenberger offers Business Outsourced Solutions and has many years of experience helping U.S. subsidiaries of international companies navigate the daily financial and accounting requirements of doing business in the U.S. If you would like to discuss your company’s needs, contact your JLK Rosenberger team member, or click here to contact us. We look forward to speaking with you.