In this globalized world where every nook and corner of the world is attached to each other with a string of internet, opportunities have increased tremendously. People in one part of the world can get their work done from another part of the world within stipulated time period. Northern hemisphere of the world which is considered richer than southern hemisphere has adopted the technique of off shoring. Whereby they get their work done through cheap labor and workforce readily available in third world countries. Hence the cost incurred is less than if the same work is done with local workforce. Also the quality of the work done through off shoring is higher than the same work locally. Major reason being that such workforce is more pressurized to perform efficiently because otherwise all their efforts can go to waste and they will remain penniless. So they are more responsible towards their work and give their best to get more projects and assignments in future.
As off shoring is becoming common day by day, fraudulent activities are also surging. So to counter such fraud clients must have the agreement in written form. This not only provides legal protection but also a peace of mind. But prior to thinking of hiring an employee offshore, most important thing to consider are the credentials of the person being hired. Necessary experience and work record should be checked to make sure that the person under consideration has the potential to do the work. Same precaution goes for an accountant. If an accountant is being looking for offshore then, his qualification must be the first priority. Because such sensitive information about the client is going to be disclosed to a person sitting across the sea. This puts pressure on the client to carefully cross check the qualification of the person claiming to be an accountant. But this hassle can be reduced if client in northern part is hiring an accounting firm in the other part. Because firms are registered and have their bank statements which gives necessary evidence to client for approval of the candidate.
Here is preview of a Free Sample Offshore Accountant Agreement Template created using MS Word,
Outsourcing of accounting work offshore should be performed with immense care. Because not all works are of same nature. Accounting information of any company cannot be easily disclosed to any firm or candidate without proper approval of its credentials. While the offshore accountant agreement is actually taking place, terms and conditions included in it must be cross checked according to your requirements. If both parties have good mutual understanding they can settle some terms verbally. Like the training of offshore accountant can also be included in the written agreement or settled verbally. Because training is an important step if the offshore accountant is fresher to this field and has not worked with any international firm prior to this contract. One of the most important points to consider while drafting an agreement with offshore accountant is the safety and security of the data being disclosed to him. This term can also be added in the agreement. The penalty that can be imposed in case of breach of agreed term must also be stated clearly. Moreover offshore accountant must have good communication sources with the client. Through which both parties are able to resolve the issues effectively and efficiently. Such measures can be very effective while drafting and finalizing the offshore accountant agreement.