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The COVID-19 pandemic has prompted higher education providers to adopt E-learning, significantly impacting their internship programs. Motivated by the stakeholder theory, the present study analyzes student-interns’ and employers’ experiences and perceptions towards identifying the effectiveness of the University of San Jose-Recoletos, Bachelor of Science in Accountancy’s online internship program. The analysis is based on three areas of the program, namely the application process, the online internship work environment, and the benefits derived from it. The study uses a descriptive and inferential statistical approach and formulates an online and paper survey instrument to gather pertinent data. From the data, the online BSA internship of USJ-R is moderately effective. Student-interns and employers rarely encounter problems, their experiences during the application process and online internship work environment are positive, and their perceptions following the online program are positive. They accumulated benefits and highly observed technological-based skills from the digital execution of the program as well. However, the study highlights intermittent internet connection, delays in interview applications, and weak support for the online BSA internship as factors to be considered.