About Financial Auditing Professional Services
Financial auditing professional services help businesses to help maintain their accounting records with an accurate representation of transactions. These services assist in maintaining the compliant financial statements and link with banks, financial institutions, investors, and other financial partners. The professional services consist of accounting and advisory services providing follow-up engagement, special investigation, consulting services, etc. These financial auditing professional services are followed in various industries such as BFSI, IT & telecom, retail, healthcare, manufacturing, and others.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The global financial auditing professional services market is fragmented with the presence of various players. The companies are focusing on the research and development activities offering enhanced services. The companies are expanding their services geographically maintaining their competitive edge. Analyst at AMA Research estimates that United Kingdom Players will contribute the maximum growth to Global Financial Auditing Professional Services market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Deloitte Touche Tohmatsu Limited (United Kingdom), Ernst & Young Global Limited (United Kingdom), Grant Thornton (United Kingdom), KPMG International Limited (Netherlands), Binder Dijker Otte (Belgium), Mazars (France), PricewaterhouseCoopers (United Kingdom) and RSM International Association (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are PwC (United Kingdom), Moore Stephens International Limited (United Kingdom) and Financial Auditing Professional Services (United Kingdom).
Segmentation Overview
AMA Research has segmented the market of Global Financial Auditing Professional Services market by Type (Accounting Services and Advisory Services) and Region.
On the basis of geography, the market of Financial Auditing Professional Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Service Distribution Channel, the sub-segment i.e. Online will boost the Financial Auditing Professional Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Use Industry, the sub-segment i.e. BFSI will boost the Financial Auditing Professional Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Audit Services, the sub-segment i.e. Consulting Services will boost the Financial Auditing Professional Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Firms are Evaluating Talent and Succession Plans for Increased Business Operations in Offering Financial Auditing Professional Services
Market Growth Drivers:
Growing Digitalization in Financial Auditing Operations and Demand for the Enhanced Client Services With Increasing Efficiency in Auditing Professional Services
Challenges:
Stiff Competition in the Financial Auditing Professional Services Market
Restraints:
Problems with Maintaining the Steady Cash Flow for Financial Auditing Professional Services
Opportunities:
Surging Demand for Thrid Party Financial Auditing Professional Services from Developing Nation
Market Leaders and their expansionary development strategies
In December 2023, KPMG partners with data analytics company Fivetran to streamline data access and analysis for audits, accelerating insights and improving audit efficiency.
In December 2023, Grant Thornton introduces "ESG Impact Tracker," a tool quantifying the environmental, social, and governance (ESG) performance of companies, catering to the growing demand for sustainability audits.
"Auditing standards prescribe the norms which the auditors are expected to follow in the conduct of the audit. These provide guidance to the auditor to help determine the auditing steps and procedures that should be applied in audit and constitute the criteria or the yardstick against which the quality of audit results is evaluated. The field standards are related to the general standards which set out the basic requirements for undertaking the tasks covered by the field standards. They are also related to the reporting standards which cover the communication aspect of auditing, as the results from carrying out the field standards constitute the main source for the contents of the audit findings, opinions, or reports."
Key Target Audience
Financial Auditing Professional Services Providers, Financial Auditing Professional Services Industry Association, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.