Overview:

The global auditing services market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. Audit refers to the review or inspection of various accounts by auditors, accompanied by physical inspection of inventory to ensure that all departments follow the given system of recording transactions. Auditing services assist companies to ensure that their records of accounting accurately represent their completed transactions. Audit services can help companies to communicate with banks, shareholders, and other financial partners with sound financial conditions.

Market Dynamics:

The establishment of new businesses, the public listing of new companies, and regular internal auditing by private and public companies are key factors driving global auditing services market growth. Also, emerging stringent rules regarding disclosing and reporting financial information is likely to support growth of the target market.

However, elimination of audit procedures to reduce cost, accepting management demands, and engagement with risky clients is resulting in decline of audit quality, which may hamper growth of the auditing services market to a certain extent.

Nevertheless, increasing spending on auditing by corporates coupled with growing merger and acquisition activities among many industries to expand business in emerging countries is expected to create lucrative opportunities for market growth over the forecast period.

Key Trends:

Rising focus on the shared service delivery model among key players is a key trend witnessed in the global auditing services market. The share service model is enabling audit services companies to improve their business performance and expand customer base. For example, in 2016, KPMG International signed a partnership agreement with IBM Corporation to improve its offerings in professional services by integrating IBM's watson cognitive computing technology.

Regional Analysis:

For detailed understanding of market dynamics, the global auditing services market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America accounts for the major revenue share in 2019, owing to favorable government regulations, established market, and use of effective audit practices by market players. The market in Asia Pacific is expected to register a significant CAGR during the forecast period due to rapid expansion of multinational corporations in countries in the region.

Scope of the Report:

Detailed Segmentation:

Global Auditing Services Market, By Type:

• External
• Internal

Global Auditing Services Market, By Service

• Operational Audits
• Financial Audits
• Advisory and Consulting
• Investigation Audit
• Information System Audit
• Compliance Audit
• Other Services

Global Auditing Services Market, By Vertical

• BFSI
• Government
• Manufacturing
• Healthcare
• Retail and Consumer
• IT and telecommunication
• Other End Use

Key Players Covered:

Key players operating in the global market include, Ernst & Young Global Limited, Protiviti Inc., Deloitte Touche Tohmatsu Limited, PricewaterhouseCoopers LLP, KPMG International Cooperative, Grant Thornton International Ltd, Binder Dijker Otte Inc, Mazars Inc, Nexia International Limited, RSM International Association, and Moore Stephens International Limited.

Key Features of the Study:

Foresight Market Research provides detailed analysis on global market in our report- Global Auditing Services Market by type, service, vertical, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global auditing services market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, market expansion, and marketing tactics used overall the globe.