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Financial Auditing Professional Services Global Market Report 2024 To 2033 | Binder Dijker Otte (BDO) Global, Grant Thornton International Ltd, Ernst & Young (EY) Global Limited

Financial Auditing Professional Services Market Size

Financial Auditing Professional Services Market Size

The Business Research Company recently released a comprehensive report on the Global Financial Auditing Professional Services Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The financial auditing professional services market size has grown strongly in recent years. It will grow from $143.31 billion in 2023 to $153.42 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to regulatory compliance, globalization, corporate governance, financial scandals.

The financial auditing professional services market size is expected to see strong growth in the next few years. It will grow to $206.64 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to data security concerns, complex financial instruments, emerging markets, risk management, digital transformation. Major trends in the forecast period include technology integration, remote auditing, blockchain auditing, sustainability audits, continuous auditing, customized audit solutions.

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Market Drivers and Trends:

Rising incidences of banking fraud are expected to propel the growth of the financial auditing professional services market going forward. Fraud refers to the act of intentionally deceiving a system to gain access to information or deny another individual their rights. Financial auditing professional services help reduce bank fraud, such as requesting higher payment or reimbursement for services by preventing misreporting and managing risks. For instance, according to the Reserve Bank of India Annual Report 2021-2022, India's central bank and regulatory body responsible for the regulation of the Indian banking system, total fraud cases reported by banks and other financial institutions increased by 23.69% and the fraud cases increased from 7,359 in 2020-21 to 9,103 in 2022. Therefore, the rising incidences of banking fraud are driving the financial auditing professional services market.

Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.

Key Benefits for Stakeholders:

• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.

Major Key Players of the Market:

Binder Dijker Otte (BDO) Global, Grant Thornton International Ltd, Ernst & Young (EY) Global Limited, Deloitte Touche Tohmatsu Limited, Mazars, Moore Stephens International Limited, KPMG International, Nexia International Limited, PricewaterhouseCoopers, RSM International Association, Grant Thornton LLP, Withum Smith+Brown PC, BF Borgers CPA PC, Moore Global, Crowe Global, Baker Tilly International, Marcum LLP, PKF International, UHY International, EisnerAmper LLP, Wipfli LLP, Reinsel Kuntz Lesher LLP, Armanino LLP, Plante Moran, Moss Adams LLP, CohnReznick LLP, Cherry Bekaert LLP, Dixon Hughes Goodman LLP, Eide Bailly LLP, CBIZ Mayer Hoffman McCann LLC

Financial Auditing Professional Services Market 2024 Key Insights:

• The financial auditing professional services market size is expected to see strong growth in the next few years. It will grow to $206.64 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%.
• The Impact Of Rising Banking Fraud On The Financial Auditing Professional Services Market
• Strategic Partnerships In The Financial Auditing Professional Services Market
• North America was the largest region in the financial auditing professional services market in 2023

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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

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