The global financial auditing professional services market size
is likely to reach USD 190.7 billion by 2025, expanding at a CAGR of 7.4% from
2018 to 2025, according to a new study conducted by Grand View Research, Inc.
Introduction of stringent laws and regulations pertaining to auditing and
reporting of financial statements by corporates and enterprises is estimated to
drive the market over the forecast period.
Changing auditing and reporting
practices and trade policies are playing a pivotal role in the growth of the
global financial auditing professional market. Accounting, consulting, and
auditing firms are responding to situations by aggressively deploying
additional resources in order to improve their service delivery models in line
with rapidly changing requirements of their clients. They have developed
highly-customized service delivery models by combining shared services delivery
model, offsite delivery model, offshore development center model, and onsite
delivery model in order to meet clients’ requirements as well as to comply with
regulatory norms.
Financial audit professional service
providers are acquiring technology-based companies in order to develop advanced
data analytics capabilities. For instance, in 2018, PricewaterhouseCoopers
Hungary Ltd. acquired Data Solutions Kft., a data mining company, as part of
efforts to focus on development of data-based products and solutions while
Deloitte Touche Tohmatsu Limited acquired Mexia Consulting Pty Ltd, a Microsoft
Azure integration consultancy, in order to augment cloud service offerings.
Data analytics services are expected to emerge as new sources for revenue
generation that can support core business of auditing firms.
Browse full research report on Financial Auditing
Professional Services Market: https://www.grandviewresearch.com/industry-analysis/financial-auditing-professional-services-market
Further key findings from the report suggest:
- The internal auditing segment is anticipated to experience
the highest growth over the forecast period as corporates and enterprises
emphasize on internal auditing to enable fraud detection and fraud
investigation
- The financial statement audit segment is projected to
register the highest CAGR of 7.7% over the forecast period as regulations
governing external auditing and reporting of organizations get stringent
- The BFSI sector is poised to be the most promising end-user
segment over the forecast period as internal auditing becomes a common
practice among organizations to detect frauds and curb fraudulent
activities
- North America is likely to be the leading revenue contributor
in the global financial auditing professional services market throughout
the forecast period. It is expected to reach USD 61.04 billion by 2025
- On the other hand, Asia Pacific is estimated to witness the
highest CAGR as multinational corporations (MNCs) continue to invest and
expand in the region
- Key players operating in the financial auditing professional
services market include Deloitte Touche Tohmatsu Limited,
PricewaterhouseCoopers (PwC), KPMG International, Ernst & Young (EY),
Grant Thornton International Ltd., Binder Dijker Otte (BDO) Global, RSM
International Association, Mazars, Nexia International Limited, and Moore
Stephens International Limited.
Browse
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/financial-auditing-professional-services-market/request/rs1
Grand View Research has segmented the global financial auditing
professional services market based on type, service, end use, and region:
Financial Auditing Professional Services Type Outlook (Revenue,
USD Billion, 2014 - 2025)
- External
Audit
- Internal
Audit
Financial Auditing Professional Service Outlook (Revenue, USD
Billion, 2014 - 2025)
- Employee
Benefit Plan Audit
- Service
Organization Control (SOC) Audit
- Financial
Statement Audit
- Due
Diligence
- Other
Financial Auditing Professional Services End Use Outlook (Revenue,
USD Billion, 2014 - 2025)
- BFSI
- Government
- Manufacturing
- Healthcare
- Retail
& Consumer
- IT
& Telecom
- Other
Financial Auditing Professional Services Regional Outlook
(Revenue, USD Billion, 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Asia
Pacific
- China
- India
- Japan
- Latin
America
- Brazil
- Middle
East & Africa
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For
more info visit @ https://www.grandviewresearch.com
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