Finance and Accounting Outsourcing (FAO)

Finance and Accounting Outsourcing (FAO) is the practice of contracting financial and accounting functions to external service providers, often located in different geographic locations. These outsourcing services may include bookkeeping, accounts payable and receivable, payroll processing, financial reporting, tax preparation, and compliance. FAO allows organizations to access specialized expertise, reduce costs, and improve efficiency by leveraging the capabilities of external vendors with expertise in finance and accounting.