Dutch accounting firms expand hiring in Asia, Africa, and Eastern and Southern Europe
Dutch accounting firms are increasingly recruiting employees from countries in Asia, Africa, and Eastern and Southern Europe to address staffing shortages and lower operational costs. While large firms have long relied on foreign staff, smaller firms are now following suit, a development highlighted in a recent sector report from ABN Amro, according to the Financieele Dagblad (FD).
Foreign specialists are being brought in to fill vacant positions, sometimes relocating to the Netherlands, but often continuing to work from their home countries. Although the influx of international workers helps firms control costs and manage workforce shortages, experts warn it may also come with risks related to work quality and cultural differences.
FD cites DHV Accountancy as an example of a smaller firm participating in this trend. DHV currently employs one staff member from Sri Lanka as part of an experimental initiative. If the arrangement proves successful, the firm intends to expand its hiring efforts abroad.
Share Impact Accountants, a firm with 35 employees, has recently hired one Namibian and two South Africans. Founder Hugo Hollander plans to travel to South Africa next month for a second round of eight job interviews, signaling the firm's intention to continue its international recruitment strategy.
The trend is reportedly particularly notable at major firms. In 2022, PwC employed 130 staff members who worked from various countries on Dutch client files. That number has since more than doubled to 300 accountants, working in India, Pakistan, Cyprus, South Africa, and Central and Eastern Europe, according to Jesse IJspeert, the responsible executive at PwC's accounting division.
At Deloitte, a similar strategy is underway. Gera Hamer, a board member at Deloitte, said to FD, "Alongside our professionals in the Netherlands, we have a specialized team in India that carries out both complex and standard audit and assurance activities." Deloitte also brings in specialists from South Africa for temporary assignments. The FD notes that EY and KPMG are applying comparable methods.
Despite the growing reliance on international staff, no accounting firms have formally reported quality issues, according to the FD. Nevertheless, concerns exist. Marcel Pheijffer, a professor of Accountancy, previously warned in the FD that hiring foreign workers does not automatically guarantee high-quality results. "The underlying goal is to achieve efficiency, scale, and cost benefits and to manage the labor market problem," Pheijffer wrote.
One advantage cited is that foreign accountants are often willing to perform routine tasks that young Dutch accountants increasingly avoid, preferring more challenging assignments instead.
Cultural differences also pose a potential risk. According to the FD, in the Netherlands, tasks are typically taken up immediately after being assigned, but in other parts of the world, the approach may differ. Foreign accountants sometimes require a clear, explicit deadline to meet expectations.
