What is a Accountant Secondment?
A secondment is a temporary placement of a professional (or a team) in an organization to assist with specific business needs. An accounting secondment is when a business hires one or multiple accountants to integrate into their existing team and help them with projects.
Secondments can often be confused with outsourcing, as they both involve hiring external individuals. However, there are major differences between the two:
| Feature | Secondment | Outsourcing |
|---|---|---|
| Definition | Temporary transfer of an accountant from one organization to another | Hiring an external firm to handle accounting functions |
| Employment Relationship | The accountant remains employed by the original company | The accountant is employed by the outsourcing company |
| Who manages them | Day-to-day work is managed by the host company, but employer stays involved | Managed fully by the outsourcing company |
| Why it’s done | To help with a short-term need or share expertise | To cut costs, increase efficiency |
| Duration | Usually short-term (a few months) | Can be short-term or long-term |
| Legal Responsibility | The original employer handles salary | The outsourcing employer handles salary |
| Work style | Works like part of the team | Often works separately, sometimes offsite |
why
When Do Businesses Need Accountant Secondment Services in Dubai, UAE?
Businesses may want to hire an accounting secondment for the following reasons:
Need for niche expertise
Short-term projects usually have specific requirements in terms of technical knowledge and skillsets. Hiring accounting secondment services can help companies manage complicated projects.
Knowledge transfer
Working with accountant secondment services in UAE can help internal finance teams learn new skills and gain access to specialized knowledge. Secondments also bring in new perspectives which can be useful for problem-solving.
Cost-effective
Having an accountant secondment can save money for organizations who cannot commit to hiring large teams full-time. With a secondment, businesses only have to pay for the duration of the contract.
Manage peak periods
Having an accounting secondment team during busy periods can help businesses work through these times with support while evading committing to the long-term costs of employing large teams in-house.
Flexibility
Hiring an accountant secondment gives businesses the flexibility to scale up during high intensity projects if they need it.
Staff cover
When key finance personnel unexpectedly leave, go on maternity or sick leave, or are tied up in a major internal transition, a secondment provides immediate coverage so that critical accounting functions are not delayed.
What are the Accounting Secondment Services in UAE?
General accounting support
Special project management
Advisory
Audit support
How Does an Accountant Secondment in UAE Work?
This is how an accounting secondment would work:
- The deploying organization looks into what the host business requires in terms of skills, personnel, and the duration of the secondment.
- The host business is assigned an accounting professional or multiple professionals, depending on the requirement.
- A contract is drawn up and signed between the parties outlining the expectations, fees, and other relevant information.
- The secondment team is onboarded into the finance team of the hosting business, and given access to their work systems and software.
- The team integrates directly with the existing accountants to support goals.
- The deployment business is responsible for the accountant’s salary and the successful completion of all contracted deliverables.
- Before the end of the contract, the secondment team conducts a formal handover and documents all the processes to pass on to the existing finance department.
- In certain cases, the contract can be extended if the host business requires more support.
Get Expert Accountant Secondment Services in UAE From A&A Associate
A&A Associate provides accounting secondment services to businesses all across the UAE. Regardless of the size of your business or the industry, our experts can help your finance department with payroll management, tax advisory, ERP implementation, and audit preparation. Get in touch for a free consultation today!
FAQ
What is a Secondment in Accounting?
A secondment in accounting is a temporary placement of an accountant within a business to support specific projects. The accountant remains employed by their original company but works as part of the host company’s team.
Who Provides Accounting Secondment Services in Dubai?
Dubai offers extensive support to entrepreneurs through simplified business setup processes, competitive licensing options, investor visas, and dedicated free zones with numerous incentives, including tax exemptions. Moreover, networking opportunities and government-backed initiatives help businesses grow from inception to expansion.
Who Needs an Accountant Secondment?
If your business is facing a high workload or needs niche financial expertise, you can hire an accountant secondment. The secondment will collaborate with your business’ finance department.
How Long Can I Use Accounting Secondment Services?
Your accountant secondment contract duration will depend on why you’re hiring a secondment in the first place. Generally, secondment contracts last a few months, but can be up to two years for more long-term projects.