Auditing Services Market size was estimated at $265 billion in 2022 and is expected to reach $345 billion by 2031, growing at a CAGR of 4.10% during the forecast period of 2022 to 2031.
Auditing Services Market
Auditing refers to the on-site verification, such as inspection or examination, to analyze the process or quality system for ensuring compliance to requirements. It also examines the reliability and credibility of data used to record financial and non-financial information. Auditing is an independent process of examination that can be applied to an entire organization or to a specific function to express an expert opinion thereon. Moreover, an expanded and strategic audit report enables the organization to address issues affecting the long-term profitability and value of the business.
Auditing Services Market Growth and Trend
The auditing service market has witnessed robust growth in recent years due to the rapid increase in new business and the rising number of public and private companies around the globe. With a proliferation of business, there is a constant rise in the demand for internal audits. Firms operating in the auditing service market are focusing on integrating technologies and cloud-based infrastructure such as data analytics to evaluate and certify financial and non-financial information. Additionally, stringent government regulation related to the disclosure of various records along with widespread acceptance among end-users is also anticipated to flourish the growth of the auditing service market. Moreover, a comprehensive auditing report enables an organization to identify potential opportunities for enhancing long-term performance and addressing operational concerns. However, the outbreak of the Covid-19 pandemic all across the globe has negatively affected the global auditing service market. The decline in the market can be attributed to the disruption of on-site auditing. Because of the pandemic, the world economy has become uncertain, making it difficult for auditors to prepare audit reports. Even the traveling restrictions due to lockdown also have a negative impact on the auditing service market.
Auditing Services Market Segmentation
The global auditing service market is segmented on the basis of types and services. Based on the types, the market is divided into internal audit, external audit, and others. The internal audit segment holds a significant share in the market. The segmental growth can be attributed to the strict government regulations related to the disclosure of various information related to financial and non-financial records. Based on services, the global auditing services market is segregated into advisory & consulting, operational audits, financial audits, investigation audits, and others. The financial audit segment is the largest shareholder in the market and is expected to lead the market in the years ahead because it is mandatory for every organization to prepare their final accounts and disclose the actual financial condition to the stakeholders.
Auditing Services Market Country Analysis
North America is the leading region in the auditing service market. The regional growth can be attributed to the presence of various multinational establishments and their voluntary adoption of internal audits, and services. However, Asia Pacific is projected to grow at the highest CAGR value during the forecast timeframe due to favorable government policies, a flourishing consumer market, and the presence of various manufacturing units.
Auditing Services Market Share and Competition
The prominent companies operating in the global auditing services market are Ernst & Young, RSM US LLP, PwC, Grant Thornton International Ltd., Mazars, Protiviti Inc., Deloitte Touche Tohmatsu Limited, KPMG International Limited, Moore Stephens International Limited, Nexia International Limited.
Report Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2021 – 2028)
• Data breakdown for every market segment (2021 – 2028)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Type Analysis (Revenue, USD Million, 2021 - 2028)
• Internal Audit
• External Audit
• Others
Services Analysis (Revenue, USD Million, 2021 - 2028)
• Advisory & Consulting
• Operational Audits
• Financial Audits
• Investigation Audits
• Others
Region Analysis (Revenue, USD Million, 2021 – 2028)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World
Auditing Services Market Companies
• Ernst & Young
• RSM US LLP
• PwC Grant Thornton International Ltd.
• Mazars, Protiviti Inc.
• Deloitte Touche Tohmatsu Limited
• KPMG International Limited
• Moore Stephens International Limited
• Nexia International Limited.
Available Versions:-
• United States Auditing Service Industry Research Report
• Europe Auditing Service Industry Research Report
• Asia Pacific Auditing Service Industry Research Report
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