The shortage of young accounting graduates has caused BDO to make plans to add 5,000 offshore jobs in the next five years, The Financial Times (FT) reported.

Most of the jobs will be in India, where BDO already has 2,000 people. The firm recently added 100 jobs in South Africa, CEO Wayne Berson told the FT. He added that the firm intends to grow in both countries.

BDO currently employs about 12,000 people. The 5,000 offshore additions are a part of its BDO Rise venture, which “accesses the abundance of highly credentialed professionals in India, South Africa and throughout the U.S. across a wide range of disciplines, bringing their skills and talents to help solve the complex business issues that arise in a world that never sleeps,” its website states.

The Big Four accounting firms have also established significant offshore presences in recent years, notably in India, for the same reasons, the FT reported. Midsized and smaller firms are also following suit.

Fewer accounting graduates are entering the profession in sufficient numbers to replace retiring baby boomers. The Bureau of Labor Statistics projects that 136,400 new accountants and auditors will be needed annually over the next decade.

Berson said that younger people are more interested in consulting than in tax and audit.

“The next generation are wanting to move quickly, wanting to be excited by their job,” he said. “A lot of them are looking at things like advisory services.” An auditor himself, he told the FT that “I think it’s always better to get your feet wet, get a foundation. You need to hone your skills before you can be a consultant to anyone.”