Auditing Services Global Market Analysis, Trends, Growth, Research And Forecast 2033

The new report published by The Business Research Company, titled "Auditing Services Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the auditing services market size has grown strongly in recent years. It will grow from $226.82 billion in 2023 to $239.29 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The auditing services market size is expected to see steady growth in the next few years. It will grow to $290.79 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%.

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Surge In Corporate Investments For Financial Auditing And Record-Keeping
The growing corporate spending on financial auditing and recording is expected to propel the growth of the auditing services market going forward. The growing corporate spending on financial auditing and recording refers to an increase in the proportion of money that corporations are spending on auditing and recording due to increased emphasis on financial transparency, regulatory compliance, and sound corporate governance practices. Auditing services help companies identify errors and fraud in financial statements, comply with laws and regulations, improve internal controls, and reduce risk. For instance, in November 2022, according to Harvard Law School, a US-based private research university, total auditing fees of companies reporting in a fiscal year reached $18.9 billion in 2021, with an increase of 3.3% from 2020, and the average amount that SEC (Securities and Exchange Commission) registrants paid for an audit service and average audit-related fees increased to $2.17 million and $0.23 million, respectively. In addition, average audit fees increased to $1.9 million and $2.9 million for US and foreign companies, respectively 2021. Therefore, the growing corporate spending on financial auditing and recording is driving the growth of the auditing services market.

AI-Powered Auditing Solutions Take Center Stage In The Auditing Services Market
AI-based auditing solutions are a key trend gaining popularity in the auditing services market. Major companies operating in the auditing services market are integrating artificial intelligence and other digital technologies into auditing services to sustain their position in the market. For instance, in March 2023, Phoenix Technocyber, an India-based company specializing in technology solutions and auditing services, launched the TechOwl GRC GAP Assessment Tool. This IT auditing tool aims to streamline the auditing process, reduce manual effort, and enhance the accuracy and efficiency of IT audits by utilizing artificial intelligence and automation. The tool leverages AI algorithms and machine learning techniques to analyze large volumes of IT data, identify potential risks and vulnerabilities, and provide actionable insights to improve IT security and compliance.

The auditing services market covered in this report is segmented -

1) By Type: Internal Audit, External Audit, Other Types
2) By Service: Operational Audits, Financial Audits, Advisory and Consulting, Investigation Audit, Other Services
3) By End-Use: Banking, Financial Services and Insurance (BFSI), Government, Manufacturing, Healthcare, Retail And Consumer, Information Technology (IT) And Communications

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Major companies operating in the auditing services market report are Deloitte, PricewaterhouseCoopers LLP, Ernst & Young Global Limited, KPMG International Cooperative, BDO International Ltd., Baker Tilly US LLP, Nexia International Limited, CliftonLarsonAllen LLP, Moore Global Network Limited, RSM US LLP, Mazars Group, Grant Thornton LLP, FORVIS LLP, Crowe LLP, Moss Adams LLP, Plante Moran PLLC, Eide Bailly LLP, Sikich LLP, Marcum LLP, Armanino LLP, Wipfli LLP, EisnerAmper LLP, Rehmann LLC, Dixon Hughes Goodman LLP, UHY Advisors Inc., Schellman & Company LLC, Sensiba San Filippo LLP, Mayer Hoffman McCann P.C., Squar Milner LLP, Friedman LLP

Contents of the report:
1. Executive Summary
2. Auditing Services Market Report Structure
3. Auditing Services Market Trends And Strategies
4. Auditing Services Market - Macro Economic Scenario
5. Auditing Services Market Size And Growth
…..
27. Auditing Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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