Top Accounting And Tax Companies in Philippines

The accounting industry in the Philippines plays a vital role in the country's economic growth, as it ensures financial transparency and regulatory compliance. In this article, we examine the key factors contributing to the industry's success, along with the challenges and trends that will shape its future. We will explore key statistics from 2022, including GDP and employment figures, the factors driving the growth of various sectors, and the impact of technological disruptions on the industry.

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CompanyHeadcountContactDescriptionDecision Maker
PITCHER PARTNERS1,481 +61 3 8610 5477

Accounting and business advisory experts sharing insights about issues impacting family-controlled and privately owned businesses, high net-worth individuals, the public sector and NFP organisations.Pitcher Partners is an association of independent full service accounting, audit and advisory firms with a long standing reputation for providing superior expertise and advice to clients with a particular focus on the middle market. In fact, when we formed in 1991, we did so with the specific goal of providing services to these middle market businesses who we believed then and still believe today deserve the best possible accounting and advisory services.Now, with more than 140 partners and 1300 staff across the association, we have resources and depth of technical expertise few can match. We are large enough to meet the challenges presented by our clients, regardless of their size or location, but have retained the ability to maintain close and personal involvement with them and with each other.Several Pitcher Partners partners and directors are represented on high profile committees where we particularly represent and advocate for the interests of the middle market.

ARETEX115 +61 2 9188 4495

Aretex exists to help businesses grow and scale, while their processes scale with them. We re-engineer and optimise the entire accounting and bookkeeping process for multi-site businesses and franchises. Creating the freedom to focus on what they do best – their core business – and giving them back time that was once lost. Specialising in tailor-made accounting and data management solutions, we integrate highly experienced senior finance expertise with technology, process and offshore talent. Delivering you all the benefits of an offshore bookkeeping and operational accounting team without sacrificing on high-quality service.When you engage Aretex, you’re hiring a partner who shares your business goals. Since 2014, Aretex has focused on the big picture by identifying productivity gains and documenting best practices, so you are empowered to improve the financial management of your business.

KLP LLP34 +65 6227 4180

At KLP, we perceive ourselves as a catalyst of success. The road to business success has many pitfalls and traps that many may not be aware of. We position ourselves as the professionals in assisting our clients to operate their businesses efficiently and effectively through good disciplines in accounting, financial control and compliance. This will afford our clients to concentrate fully on the business they know best.We perceive ourselves as modern accountants where understanding our clients businesses and providing innovative solutions to their problems are part and parcel of our duties. Through our association with JHI International, we are able to keep our clients abreast of trends, opportunities and regulations in the global marketplace.Established in early 1999, KLP is a certified public accounting firm, serving over 300 clients from range of industries locally, and across the region. Our clients include SMEs and listed companies.

BDO LLP SINGAPORE411 +65 6990 2838

BDO in Singapore is a full-service professional services firm providing audit, tax and advisory services. We have a long history of serving small and medium-sized enterprises (SMEs), large privately-held businesses and multinational companies across a broad spectrum of industries in Singapore. With a strength of over 550 employees, we offer a comprehensive range of services, including Audit and Assurance, Business Restructuring and Forensic Accounting, Cybersecurity, Tax Advisory, Risk Advisory, Business Advisory, Financial Risk and Governance, Management Consulting and Business Outsourcing Services. BDO LLP is an independent member firm of BDO International - the world’s fifth-largest accountancy network. We are part of a global brand and accounting network with over 1,713 offices across 164 countries.

BDO60,637 +65 6828 9118

BDO is the leading provider of professional services within the mid-tier of our profession. We are proud to deliver seamless client service, from 1658 offices in 167 countries, across the world. Our 91K+ professionals continuously transform our approach by embracing future-oriented technology and focusing on quality. Strategic decisions and investments made in recent years have further equipped the organisation with the global infrastructure and innovative solutions needed to deliver long-term value for our clients.As a purpose-driven organisation, we do better.

COMPLETE CORPORATE SERVICES - CCS53 +65 6221 9265

Complete Corporate Services is one of Singapore’s leading integrated business solution providers. We help companies manage their back-end functions while they concentrate on achieving the sustainable success they desire.Our company firmly believes in using innovative technology to offer uniquely tailored and pragmatic solutions to our clients.With our team of qualified professionals who are also dedicated in their work, we ensure effective and efficient service delivery.

CROWE8,881 +65 800 778 7879

Crowe LLP is a public accounting, consulting, and technology firm with offices around the world. Crowe uses its deep industry expertise to provide audit services to public and private entities. The firm and its subsidiaries also help clients make smart decisions that lead to lasting value with its tax, advisory, and consulting services, helping businesses uncover hidden opportunities in the market – no matter what challenges the markets present. Crowe is recognized by many organizations as one of the best places to work in the U.S. As an independent member of Crowe Global, one of the largest global accounting networks in the world, Crowe serves clients worldwide. The network consists of more than 200 independent accounting and advisory services firms in more than 130 countries around the world.

HALL CHADWICK206 +61 7 2111 7000

Hall Chadwick is one of the largest and most experienced accounting groups in Australia servicing clients in every major capital city and many regional centres in Australia. Our business advisors and tax experts add value to your business through the use of leading edge techniques and immediate access to the resources of our international network.Hall Chadwick Chartered Accountants and Business Advisors has an enviable reputation for its service to clients and for the competence of its partners and staff who offer expertise services in:- Auditing- Business Services - Financial Planning- Insolvency & Business Recovery- Personal Insolvency - Taxation - Corporate Services - Property Industry

MEDIQ FINANCIAL32 +61 1300 063 347

If you have become frustrated having to explain the meaning of Salary Packaging, Medicare fees, Out-of-Pocket Gaps to your accountant and financial advisors, then MEDIQ is the company for you. With a specialist focus on doctors, their medical practices and their families, we understand the complexities and finer points involved with tax-minimisation for doctors and medical finance.We are MEDIQ.

MOORE AUSTRALIA473 +61 1300 137 322

Moore Australia is a network of five independent accounting, audit and advisory firms with 14 offices and 500+ staff across Australia. At Moore, our purpose is to help people thrive – our clients, our people and the communities they live and work in. Moore Australia is also an independent member of the Moore Global network. A global accounting and advisory family of over 30,000 people across more than 260 independent firms and 110 countries, connecting and collaborating to take care of your needs – local, national and international. We have grown considerably in partnership with Moore Global’s network of independent companies so we can help small businesses and multi-national enterprises. When it comes to risk management, strategic planning for growth, business structuring and accountancy, Moore Australia is a leader in providing consultancy services and offers a cost-effective investment for your peace of mind. We aim to improve operational efficiency and compliance with regulatory and legislative requirements; therefore, you can rest assured that when it comes to business needs and financial solutions, helping you thrive in a changing world.

MOORE SINGAPORE104 +65 6329 2703

Moore Stephens LLP, Singapore provides specialist advice in tax, audit, assurance and advisory. At Moore Stephens, we strive to reflect our core qualities in all that we do – Relationships, Quality and Teamwork. We provide services to a diverse range of clients, from large corporations, listed companies to private businesses, entrepreneurs and individuals across a broad array of industry sectors.Established in Singapore for more than 30 years, Moore Stephens LLP, Singapore is part of the Moore Global accounting and consulting network comprising of over 30,218 partners and professionals, with 502 offices across 114 countries worldwide.Follow our company page for the latest updates, events, news and views from us, or visit our website for more information at www.mooresingapore.com

CPA AUSTRALIA1,344 +61 1300 737 373

Our core services to members include education, training, technical support and advocacy.Employees and members work together with local and international bodies to represent the views and concerns of the profession to governments, regulators, industries, academia and the general public.Our VisionOur goal is to partner with members, so they are prepared for today and tomorrow in a globally connected worldOur PurposeWe are partners for progress. Through trusted relationships we develop business professionals with tomorrow’s capabilities.WHAT IS A CPA?A Certified Practising Accountant (CPA) is a finance, accounting and business professional with a specific qualification. Being a CPA is a mark of high professional competence. It indicates a soundness in depth, breadth and quality of accountancy knowledge.CPAs are highly respected by employers and members. It provides members with an internationally recognised qualification as well as the opportunity to complete specialist training and continuing professional development (CPD).Find out more at cpaaustralia.com.au View our social media house rules www.cpaaustralia.com.au/terms/social-media-house-rules

PUNONGBAYAN & ARAULLO0 +63 917 592 1049

P&A Grant Thornton is a leading professional services firm with a proven track record of high-quality work. We provide value-added services to clients through our client-caring team of outstanding audit, tax, and business professionals who utilize leading-edge systems and technology and are guided by the highest standards of quality, integrity, and competence.P&A Grant Thornton is a member firm within Grant Thornton International Ltd.

REYES TACANDONG & CO.937 +63 2 8982 9100

Professional Services Firm

GRANT THORNTON INTERNATIONAL LTD614 +65 9732 8936

We are Grant Thornton.Going beyond business as usual, so you can too.We invest in listening, building relationships and understanding your concerns to deliver an experience that’s more personal, agile and proactive. With 58,000 people in over 130 countries, our member firms provide the assurance, tax and advisory services, industry expertise and capability you need, wherever you need it. So, whether you’re growing in one market or many, looking to operate more effectively, managing risk and regulation, or realising stakeholder value, we can help you chart the path ahead.For further information, please visit www.grantthornton.global

GRANT THORNTON LLP (US)13,968 +65 6805 4110

Forget what you think you know about professional services. We go beyond what’s expected and help others do the same.Grant Thornton is the U.S. member firm of Grant Thornton International Ltd, one of the world’s leading independent audit, tax and advisory firms. That means our network has more than 60,000 professionals in more than 135 countries who are ready to help public and private organizations of all sizes take on today’s challenges. But what sets us apart isn’t just what we do – it’s how we do it. Here, we believe in making business more personal and building trust into every result. We’re collaborators – obsessed with quality and ready for anything – who understand the value of strong relationships. It’s how we challenge the expectations of business and empower our people and clients to do it, too. One thing we won’t do? Grant Thornton LLP will never request money or any form of payment for services via social media. Please report any concerns at 1-800-810-3503.Grant Thornton” refers to Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd (GTIL). GTIL and the member firms are not a worldwide partnership. Services are delivered by the member firms. GTIL and its member firms are not agents of, and do not obligate, one another and are not liable for one another’s acts or omissions. Please see grantthornton.com for further details.

KPMG227,087 +65 6213 3388

KPMG is a global network of professional firms providing Audit, Tax and Advisory services. We have 227,000 outstanding professionals working together to deliver value in 146 countries and territories. With a worldwide presence, KPMG continues to build on our successes thanks to clear vision, defined values and, above all, our people. Our industry focus helps KPMG firms’ professionals develop a rich understanding of clients businesses and the insight, skills and resources required to address industry-specific issues and opportunities.The independent member firms of the KPMG network are affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.

ASHFORDS81 +61 3 9551 2822

Ashfords is a vibrant, and fast-growing firm located in Melbournes growth corridor - the South East. We pride ourselves on being at the forefront of technological advancements, that is pushed by, not only our strong culture, but also by our young staff group, who are eager to advance the firm in a direction they would like to see it go, just as much as the partner group.A rich history of knowledge and expertise, with a young, modern work environment - is all centered around helping our clients through each stage of their financial life cycle.Accounting, Bookkeeping, Superannuation, Wealth Management, Financial Planning, and Auditing.

CHAN & NAYLOR - PROPERTY, TAX-ACCOUNTING & WEALTH ADVISORY GROUP113 +61 2 9391 5000

Chan & Naylor is a Top 40 Accounting Firm and recognised by BRW on three occasions as - “Fastest Growing Accountancy Firm in Australia” in 2007,.2008 and 2013. We are in the business of caring for you, your family and business from generation to generation with honesty and integrity. We achieve this through a reliable team of approachable, well educated, caring professionals dedicated to providing the highest level of customer service. Key services in Business Tax-Accounting, Wealth Advisory and Property Investment. At Chan & Naylor a dedicated team of specialised Property Accountants, Wealth Planners and Finance Strategists/ Mortgage Brokers, have the experience and expertise to help you achieve financial freedom. Whether you’re buying an investment property, doing a renovation, operating a small-medium-enterprise (SME), looking to develop a sound retirement and estate planning strategy - or you just need a good accountant - were here to help.While we are property tax experts and specialise in property tax accounting, wealth creation and asset protection strategies, we still love to do regular accounting, providing traditional tax and regulatory compliance for all types of entities including: Individuals, SMEs, Companies, Trusts, Partnerships and Self Managed Superannuation Funds etc.,).

CLOUDCFO INC.71 +63 2 7746 1995

CloudCfo is an established, professional and trusted outsourced accounting and finance service provider for businesses in the Philippines. Based in Metro Manila, we help companies achieve real growth through the highest level of professionalism, transparency and innovation in accounting and finance services. With a portfolio of 80+ client companies in the Philippines, particularly in Metro Manila, we have extensive knowledge and expertise across a wide range of markets, sectors and industries. We are experts on the local regulatory and tax compliance regime. We don’t require any lock-in periods from our clients. We have full confidence in our services. CloudCfo is revolutionizing the world of outsourced accounting and finance services through the use of secure online accounting platforms, cloud technology and smart solutions. This enables us to operate remotely while our clients hold on to the financial controls. We use an ecosystem of proven SAAS tools to help our clients grow and eliminate the need to invest in an expensive ERP. Some of the solutions that we work with include Quickbooks, Xero, Unleashed, Hilsoft and Storehub. While our outsourced bookkeeping services are performed online, real humans still take care of your books of accounts. Our teams, led by experienced and professional CPAs, are experts in the full range of outsourced accounting and finance services. They are always just one click away. Our services are flexible and can be tailored to any business model, sector or industry. They include:- Online Bookkeeping- Tax & Compliance- Payroll Services- Regular Financial Reporting- Payables & Disbursements- Invoicing & Collections- Budgets & Financial Planning- Catch up accounting- Financial controllership- Virtual Chief Financial OfficerSend us a message for a FREE Consultation at enquire@cloudcfo.ph. Visit www.cloudcfo.ph to learn more about our services.

Top Accounting And Tax Companies in Philippines

Key Statistics from 2022: A Snapshot of Growth and Employment

In 2022, the Philippine economy achieved a growth rate of 6.5%, rebounding from the pandemic and outpacing many of its regional counterparts. The accounting industry played a crucial role in this robust economic performance by ensuring financial integrity and supporting business growth.

The employment rate in the accounting industry reached 93.6% in 2022, up from 92.1% in 2021. This increase underscores the industry's adaptability in the face of pandemic-related challenges and its commitment to creating job opportunities for skilled professionals. The industry employed over 175,000 professionals, or approximately 0.9% of the country's total workforce.

Factors Contributing to the Growth and Success of the Accounting Industry

Government Initiatives

The Philippine government has implemented various initiatives aimed at fostering the growth and success of the accounting industry. For instance, the Ease of Doing Business Act has streamlined business registration and regulatory compliance processes, which in turn, increased the demand for accounting services.

Growing Economy and Business Environment

The Philippine economy's robust growth has led to an increased demand for accounting services, as businesses seek to ensure financial transparency and regulatory compliance. Additionally, the expanding SME sector has contributed to the industry's growth by requiring professional accounting services to manage their finances.

Digital Transformation and Technological Adoption

The rapid digital transformation in the Philippines has created new opportunities for the accounting industry. The adoption of cloud-based accounting software, automation tools, and data analytics has enabled accounting firms to improve their efficiency and offer better services to clients.

Industry Growth and Year-on-Year Comparison

Public Accounting Services

Public accounting services, such as audit and assurance, tax consulting, and advisory services, witnessed steady growth in 2022. This growth can be attributed to the increasing need for businesses to maintain financial transparency and regulatory compliance in a rapidly evolving economic landscape.

Corporate Accounting Services

Corporate accounting services, such as financial planning and analysis, management accounting, and internal audit, experienced growth in 2022. This growth can be attributed to the expanding business sector and the need for companies to optimize their financial management strategies.

Outsourced Accounting Services

Outsourced accounting services experienced significant growth in 2022, driven by the increasing demand for cost-effective and specialized accounting solutions. The trend toward outsourcing has enabled small and medium-sized businesses to access high-quality accounting services at an affordable cost.

Key Trends: Technological Disruptions and Their Impact on the Accounting Industry

Automation and Artificial Intelligence

The adoption of automation and artificial intelligence technologies has transformed the accounting industry. These technologies have enhanced efficiency, reduced human error, and enabled accountants to focus on more strategic tasks, such as financial planning and analysis.

Cloud-Based Accounting Solutions

Cloud-based accounting solutions have emerged as a game-changer for the accounting industry. These solutions allow accounting firms to access real-time financial data, collaborate with clients, and improve their overall efficiency.

Data Analytics and Business Intelligence

The growing importance of data-driven decision-making has prompted accounting firms to leverage data analytics and business intelligence tools. These tools enable accountants to gain insights into their clients' financial performance, identify trends, and offer strategic advice to support business growth.

Challenges

Despite the impressive growth of the accounting industry in the Philippines, it faces several challenges, including:

Adapting to Regulatory Changes

The accounting industry must stay up-to-date with the constantly evolving regulatory landscape. Accountants need to ensure they are well-versed in the latest regulations and accounting standards to maintain compliance and provide accurate advice to their clients.

Talent Development and Retention

Attracting and retaining skilled professionals is a significant challenge for the accounting industry. As the demand for specialized accounting services grows, the industry must invest in talent development and offer competitive compensation packages to attract and retain top talent.

Cybersecurity and Data Privacy

With the increasing adoption of digital technologies, the accounting industry must address cybersecurity and data privacy concerns. Accounting firms need to invest in robust security measures and adopt best practices to protect sensitive client information and maintain trust.

Future Outlook

The accounting industry in the Philippines is poised for continued growth, driven by supportive government initiatives, a growing economy, and the adoption of digital technologies. To maintain this momentum and overcome challenges, the industry must embrace innovation, invest in talent development, and adapt to the evolving regulatory landscape.

Conclusion

In conclusion, the Philippine accounting industry has demonstrated remarkable adaptability and resilience in the face of unprecedented challenges. Its continued success will depend on its ability to harness emerging technologies, develop innovative service offerings, and maintain a deep understanding of the evolving needs and preferences of its clients. By doing so, the industry will not only contribute to the country's economic growth but also play a critical role in shaping the future of financial management and compliance in the Philippines.

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By Melissa Goh
Published on 26 May 2023