Singapore is known for its strong regulatory environment, transparency, and financial discipline. For companies expanding regionally, accurate accounting and compliance support is critical to ensure smooth operations and sustained growth. solution…
Accounting outsourcing providers offer scalable support for bookkeeping, reporting, and finance operations efficiently, whether through local expertise or offshore partnerships, such as outsourcing to Malaysia.
In this guide, we have highlighted the top 15 accounting BPOs in Singapore, their services, and tips for selecting the right partner and an alternative solution like hiring Malaysian accountants via FastLaneRecruit’s EOR service.
Content Outline
Key Summary
Why Outsource Accounting
Outsourcing helps businesses reduce total finance operating costs, depending on scope, systems, and team structure, scale teams flexibly, ensure regulatory compliance, and focus on core operations.
Types of Accounting Firms
Global firms, mid-tier/boutique firms, and local firms serve different needs, from multinational corporations to SMEs and startups.
Top 15 Accounting BPOs in Singapore
Includes Big 4, mid-tier, and boutique firms like PwC, EY, KPMG, Deloitte, RSM, BDO, and specialized local providers for tailored support.
Choosing the Right BPO
Evaluate expertise, compliance credentials (ACRA/ISCA), technology adoption, pricing transparency, and advisory capabilities.
Benefits of Cloud & Digital Solutions
Modern accounting BPOs use platforms like Xero and QuickBooks to provide real-time tracking, automation, and error reduction.
Outsourcing to Malaysia via FastLaneRecruit
More operationally efficient offshore accounting support, payroll, tax compliance, and EOR support for SMEs and startups, while maintaining cross-border compliance.
Strategic Advantages of EOR Services
Streamlined hiring, operational efficiency, multilingual talent access, and scalable accounting teams without establishing a local entity.
Why Businesses Outsource Accounting Services
Outsourcing accounting functions has become a popular strategy for companies in Singapore and across the region. By partnering with professional accounting BPOs, businesses can benefit in several key ways:
1. Cost Efficiency
Hiring an in-house accounting team can be expensive, especially for startups or small businesses. Outsourcing allows companies to access highly skilled accounting professionals at a fraction of the cost. For example, engaging offshore teams, often based in Malaysia, can reduce operational costs by 40–60% compared to hiring locally in Singapore. This savings can be reinvested to other critical areas, such as marketing, product development, or business expansion.
2. Scalability and Flexibility
Business needs change over time. During periods of growth or seasonal spikes, your accounting workload can increase dramatically. Outsourcing gives you the flexibility to scale your accounting resources up or down as needed, without the long-term commitment of hiring full-time staff. This means you can handle high volumes of transactions during peak seasons and scale down during quieter periods, maintaining efficiency without overstaffing.
Also Read: Building a High-Performing Offshore Accounting Team in Malaysia (Singapore Edition)
3. Compliance and Professional Expertise
Singapore has strict accounting and tax regulations under ACRA (Accounting and Corporate Regulatory Authority) and IRAS (Inland Revenue Authority of Singapore). Professional BPOs have the expertise to ensure all your accounting processes comply with these standards. By outsourcing, you reduce the risk of errors, avoid potential penalties, and gain access to professionals who stay updated with regulatory changes. This is especially helpful for companies with cross-border operations, as many BPOs manage compliance for multiple jurisdictions.
4. Focus on Core Business Activities
Accounting and bookkeeping require time and attention to detail, which can distract management from strategic priorities. By outsourcing these functions, business leaders can focus on growing the company, improving operations, and making key business decisions, while leaving the day-to-day financial tasks in the hands of experts.
Tip: Consider outsourcing to Malaysia if you want to reduce costs without sacrificing quality. Many Singapore-based BPOs effectively manage cross-border compliance, maintaining clear workflows and oversight for Singapore reporting requirements while leveraging Malaysia-based talent for execution support
Types of Accounting Firms in Singapore
Singapore’s accounting industry is diverse, catering to the needs of large multinational corporations as well as small and medium-sized enterprises (SMEs) and startups. Understanding the different types of accounting firms can help businesses choose the right partner for their financial needs.
| Firm Type | Key Features | Ideal For |
| Global Firms | These include the Big 4 accounting networks, PwC, EY, Deloitte, and KPMG, as well as other international networks like BDO and Baker Tilly. They offer a comprehensive range of services including auditing, tax, advisory, risk management, and corporate finance. Global firms are equipped with advanced technology platforms, standardized processes, and expertise in cross-border transactions, making them capable of handling complex international operations. | Large multinational corporations, publicly listed companies, and businesses with international operations that require consistent service across multiple countries. |
| Mid-Tier & Boutique Firms | These are smaller, specialized firms that focus on providing compliance, advisory, and accounting services with more personalized attention. They often have flexible service packages tailored to a client’s specific needs. Mid-tier and boutique firms combine technical expertise with client-focused support, making them agile and adaptable to changing business requirements. | SMEs, startups, e-commerce businesses, and companies looking for hands-on, cost-effective accounting services without the premium fees of global networks. They are ideal for businesses that need both technical knowledge and flexibility. |
| Local Firms | Local firms specialize in Singapore’s accounting regulations and statutory requirements. They emphasize personalized service, competitive pricing, and strong relationships with clients. These firms are well-versed in compliance with ACRA and IRAS requirements and are highly responsive to the needs of local businesses. | SMEs and regional companies that require practical, reliable, and hands-on accounting support within Singapore. These firms are particularly suited for businesses that value close collaboration and local expertise. |
Tip: If your business operates across borders, global firms can provide consistency and regulatory insight for multiple jurisdictions. For startups or smaller companies, mid-tier or local firms often provide more agile, cost-effective solutions with faster response times.
Top 15 Accounting BPOs in Singapore
Singapore is home to a mix of global, mid-tier, and boutique accounting firms. The following list highlights the top 15 accounting BPOs based on market presence and service breadth commonly sought by Singapore companies, helping businesses select the right partner for their financial needs.
1. PwC Singapore
Key Services: Audit, tax, advisory, M&A, regulatory compliance
PwC Singapore is part of the global Big 4 network and is widely recognized for its comprehensive range of services. It serves multinational corporations, publicly listed companies, and businesses with complex corporate structures. PwC offers end-to-end solutions including audit, regulatory compliance, tax advisory, and strategic M&A consulting.
Ideal Clients: Large multinational corporations, listed companies
Tip: Choose PwC if you need cross-border consistency and high-level strategic advisory for international operations.
2. EY Singapore
Key Services: Audit, tax, advisory, digital-first solutions
EY Singapore combines traditional audit expertise with technology-driven solutions. It specializes in digital transformation, data analytics, and regulatory compliance, helping businesses achieve efficiency and transparency in reporting.
Ideal Clients: Enterprises undergoing regional expansion or digital transformation
Tip: Ideal for companies that want technology-enabled accounting services with international tax and advisory expertise.
Also Read: The Ultimate Playbook for Building and Integrating Offshore Teams (Singapore Edition)
3. KPMG Singapore
Key Services: Audit, ESG reporting, IPO readiness, advisory
KPMG Singapore is known for its expertise in sustainability reporting, IPO preparation, and corporate governance. Its services include audit, tax advisory, financial due diligence, and ESG compliance.
Ideal Clients: Large enterprises, IPO-ready companies, regional headquarters
Tip: Best for businesses focusing on ESG reporting or preparing for public listings.
4. Deloitte Singapore
Key Services: Audit, risk, tax, consulting, digital solutions
Deloitte Singapore offers a full suite of services for large organizations, combining audit, tax, consulting, and advanced technology solutions. Its expertise spans risk management, corporate governance, and operational efficiency.
Ideal Clients: Multinational corporations, government-linked companies
Tip: Consider Deloitte for firms needing integrated audit, advisory, and tech-driven accounting solutions.
5. RSM Singapore
Key Services: Audit, tax, consulting, regional advisory
RSM Singapore provides mid-tier firms’ flexibility with international standards. The firm specializes in regional compliance, advisory, and audit for growing companies.
Ideal Clients: Mid-tier corporates, foreign subsidiaries
Tip: Use RSM for hands-on, cost-effective cross-border compliance.
6. BDO Singapore
Key Services: Audit, tax, advisory, mid-market focus
BDO Singapore bridges international expertise with mid-market services. Its partner-led approach offers personalized attention while maintaining global audit and advisory standards.
Ideal Clients: Growing SMEs, family-owned businesses
Tip: Ideal for companies seeking direct partner involvement and mid-market solutions.
7. Baker Tilly TFW
Key Services: Audit, IPO advisory, assurance, cross-border support
Baker Tilly TFW combines local insight with global network capabilities. It is strong in IPO preparation, audit assurance, and regulatory compliance for both local and regional clients.
Ideal Clients: Mid-sized companies preparing for listing, family-owned businesses
Tip: Choose Baker Tilly TFW for IPO advisory and cross-border financial support.
8. Foo Kon Tan
Key Services: Audit, tax, corporate advisory
Foo Kon Tan is a well-established mid-tier firm focusing on compliance and advisory services for SMEs. It is known for delivering practical solutions tailored to Singapore regulations.
Ideal Clients: SMEs, local companies
Tip: Best for businesses needing reliable statutory compliance and corporate advisory.
9. Nexia TS
Key Services: Audit, accounting, compliance
Nexia TS offers efficient bookkeeping, statutory audit, and advisory services. Its focus on mid-sized businesses allows for personalized attention and flexible service arrangements.
Ideal Clients: Small to mid-sized enterprises, startups
Tip: Ideal for cost-effective outsourced accounting with attentive support.
10. Mazars
Key Services: Audit, advisory, tax, corporate services
Mazars delivers tailored accounting solutions combining industry knowledge with audit expertise. It provides both compliance and advisory support for local and international clients.
Ideal Clients: SMEs, regional businesses, international clients
Tip: Use Mazars for flexible services and industry-specific expertise.
11. Crowe Horwath
Key Services: Audit, risk advisory, taxation
Crowe Horwath provides mid-tier firms’ services with international reach. Its offerings include audit, risk management, and tax advisory tailored to client needs.
Ideal Clients: SMEs, mid-tier corporates
Tip: Suitable for businesses looking for a combination of local insight and global standards.
12. Moore Stephens
Key Services: Audit, accounting, tax planning
Moore Stephens emphasizes fast, reliable services for SMEs and startups. It offers bookkeeping, statutory audit, and tax compliance with personalized attention.
Ideal Clients: SMEs, startups, e-commerce businesses
Tip: Ideal for companies needing agile and responsive accounting support.
13. Kreston Ardent CAtrust
Key Services: Audit, tax, accounting services
Kreston Ardent CAtrust delivers mid-tier audit and tax services with a client-focused approach. It is known for flexibility and tailored service packages.
Ideal Clients: SMEs, family businesses
Tip: Best for smaller companies looking for customized accounting support.
14. RT LLP
Key Services: Statutory audits, bookkeeping, tax compliance
RT LLP provides cost-effective accounting and compliance services to local SMEs. Its services cover bookkeeping, tax filings, and statutory audits.
Ideal Clients: Local SMEs
Tip: A practical option for small businesses needing affordable compliance support.
15. PKF-CAP
Key Services: Audit, assurance, tax, corporate advisory
PKF-CAP offers personalized audit and advisory services, focusing on SMEs and small corporations. It provides tailored solutions for statutory reporting, tax compliance, and financial advisory.
Ideal Clients: Small to mid-sized enterprises
Tip: Suitable for companies wanting senior-level guidance without the overhead of large firms.
Also Read: Build Your Offshore Marketing Team in Malaysia (Singapore Edition)
FastLaneRecruit – Hire Malaysia-Based Accounting Talent (EOR)
Key Services: Talent hiring support in Malaysia, Employer of Record (EOR), payroll administration, statutory contributions
For businesses looking to reduce costs while maintaining quality, FastLaneRecruit provides Malaysian-based accounting and hiring solution (EOR employment model). Their services include bookkeeping, payroll, tax compliance, and Employer of Record (EOR) support, allowing companies to hire Malaysian employees efficiently while supporting compliance processes and documentation in line with applicable requirements
Ideal Clients: SMEs, startups, and global companies seeking cost-effective offshore accounting solutions
Tip: Consider FastLaneRecruit if you want significant cost savings without compromising on compliance or expertise. Their cross-border services make them a practical alternative to Singapore-based BPOs.
Pro Tip: Smaller firms often provide faster turnaround times, personalized service, and flexible pricing, making them ideal for startups and SMEs. Global firms offer reliability and international reach, while outsourcing accounting to Malaysia via FastLaneRecruit can combine affordability with skilled accounting support.
How to Choose the Right Accounting BPO
Selecting the right accounting BPO is a strategic decision that can directly impact your company’s financial health, compliance, and growth. Here’s a step-by-step guide to help you make the best choice:
1. Assess Expertise
Not all accounting BPOs have experience across every industry. Look for firms that understand the specific financial and regulatory requirements of your sector.
- Why it matters: An accounting firm familiar with your industry can provide accurate reporting, anticipate compliance issues, and offer tailored advice.
- Tip: For example, e-commerce companies may require multi-currency handling and integration with online sales platforms, while manufacturing firms may need inventory accounting and cost analysis.
2. Check Compliance Credentials
Ensure the provider is appropriately licensed/registered for the services offered, and that engagements are handled by qualified professionals.
- ACRA (Accounting and Corporate Regulatory Authority): Confirms the firm’s status for statutory filings/audit engagements where applicable
- ISCA (Institute of Singapore Chartered Accountants): Ensures adherence to professional and ethical standards.
- Why it matters: Working with a licensed and registered firm protects your business from regulatory penalties and ensures reliable reporting.
- Tip: You can verify registrations through ACRA’s public directory and ISCA Firm Directory.
3. Consider Technology Capabilities
Modern accounting relies on cloud-based platforms like Xero, QuickBooks, or SAP for bookkeeping, payroll, and tax filing.
- Benefits:
- Real-time financial tracking
- Automated reconciliations and reporting
- Reduced human error and faster decision-making
- Tip: Ask the firm about the software they use and whether it integrates with your current systems for seamless data flow.
4. Evaluate Pricing Structure
Understanding a BPO’s pricing model is essential for budget planning.
- What to look for:
- Transparent and upfront pricing with no hidden fees
- Scalable packages that adjust as your business grows or during seasonal fluctuations
- Tip: Compare pricing against services provided, rather than choosing solely based on the lowest cost.
Also Read: Building a High-Performing Offshore IT Team in Malaysia (Singapore Edition)
5. Look for Advisory Capabilities
Top accounting BPOs do more than bookkeeping, they act as strategic partners.
- Services to consider:
- Tax planning and optimization
- Cash flow forecasting and financial projections
- Business growth strategies and risk management
- Why it matters: Firms with advisory capabilities can help you make informed decisions, identify cost-saving opportunities, and improve overall financial performance.
6. Additional Considerations
- Communication: Ensure you have direct access to senior accountants or account managers for timely support.
- Reputation: Look for client testimonials, industry awards, and reviews to gauge reliability.
- Cross-border Experience: If your business operates regionally, consider BPOs with experience in handling cross-border compliance, such as Singapore-Malaysia arrangements.
Pro Tip: For businesses looking to optimize costs without compromising quality, consider outsourcing part of your accounting functions to Malaysian providers like FastLane Group. They offer full compliance support while leveraging cost-effective talent, ideal for SMEs and startups expanding regionally.
Benefits of Outsourcing Accounting to Malaysia via FastLaneRecruit’s EOR
Outsourcing accounting functions to Malaysia through FastLaneRecruit’s Employer of Record (EOR) service is becoming increasingly popular for Singapore-based businesses. This approach combines cost efficiency with high-quality financial management and regulatory compliance. Here’s why many companies are choosing FastLaneRecruit’s EOR model:
1. Cost-Effective Talent
Hiring skilled accounting professionals in Malaysia can significantly reduce operational costs, often by 40–60% compared to Singapore-based teams.
- Benefit: Companies can maintain high-quality accounting standards while optimizing payroll and overhead expenses.
- Tip: Outsourcing routine bookkeeping, payroll, and tax preparation allows your Singapore team to focus on strategic priorities without additional hiring costs.
2. Regional Compliance Expertise
Cross-border models require clear role split: Malaysia employment/payroll compliance is managed locally, while Singapore reporting obligations remain under the Singapore entity and its appointed advisors.
- Why it matters: FastLaneRecruit’s EOR service handles local statutory filings, payroll contributions, and taxation in Malaysia, while keeping your Singapore entity aligned with ACRA and IRAS requirements.
- Benefit: Businesses can avoid regulatory errors and fines while expanding regional operations efficiently.
3. Operational Efficiency
Outsourcing to Malaysia provides access to cloud-based accounting tools and streamlined processes.
- Features include:
- Real-time dashboards and reporting
- Automated reconciliations and bookkeeping
- Seamless integration with existing Singapore operations
- Benefit: Management gains instant visibility into financial performance, reducing manual work and accelerating decision-making.
Also Read: Building a High-Performing Offshore HR and Payroll Management Team in Malaysia (Singapore Edition)
4. Scalability and Flexibility
Using an EOR model allows businesses to scale accounting capacity up or down depending on business growth, seasonal needs, or market expansions.
- Example: During peak sales periods, an e-commerce company can temporarily expand its Malaysian bookkeeping and payroll team without hiring permanent staff in Singapore.
5. Practical Example
A Singapore-based e-commerce business can outsource payroll, bookkeeping, GST reporting, and statutory filings to a Malaysian team supported by FastLaneRecruit as an EOR provider for Malaysia-based hires
- Outcome: Reduced operational costs, full regulatory compliance in both countries, and the ability to focus internal teams on core business strategies such as marketing, sales, or product development.
6. Strategic Advantages
- Faster turnaround on accounting tasks due to dedicated offshore teams
- Access to multilingual and highly educated professionals in Malaysia
- Integration with regional expansion plans, including subsidiaries or branch offices in ASEAN markets
Tip: For SMEs and startups looking to reduce operational overhead while maintaining high accounting standards, outsourcing to Malaysia via FastLaneRecruit’s EOR service offers a practical, compliant, and scalable solution.
Also Read: Building a High-Performing Offshore Sales Team in Malaysia (Singapore Edition)
Conclusion
Singapore’s accounting BPOs offer a broad spectrum of solutions, from Big 4 global networks to agile boutique firms, helping businesses stay compliant, efficient, and growth-focused. Selecting the right partner depends on your company size, budget, technology needs, and advisory expectations.
FastLaneRecruit: Your Partner for Compliant Hiring in Malaysia
Managing payroll, taxes, and employment compliance in a foreign country can be complex and time-consuming. For businesses looking to expand or outsource operations to Malaysia, FastLaneRecruit’s Employer of Record (EOR) service provides a smart solution.
With FastLaneRecruit, you can:
- Streamline Hiring: Quickly onboard skilled Malaysian employees without setting up a local entity.
- Maintain Compliance: Align employment, payroll, and statutory processes with Malaysian requirements, reducing compliance risk.
- Focus on Growth: Free your management team from administrative burdens so they can concentrate on core business operations and strategic initiatives.
- Leverage Offshore Talent Efficiently: Access qualified accounting and finance professionals in Malaysia to support bookkeeping, payroll, tax filing, and other financial processes, all managed under a compliant and transparent framework.
Whether you’re a startup, SME, or multinational company, FastLaneRecruit’s EOR service makes it easy to scale your global workforce while maintaining full compliance and operational efficiency.
Explore how FastLaneRecruit’s EOR services can help your business expand seamlessly into Malaysia.
