The Accounting and Auditing industry is comprised of two distinct service segments. Accounting services include the preparation of financial accounts and the generation of financial statements. Auditing services mainly involve the process of externally reviewing a company's financial statements in order to guarantee their accuracy. This segment accounts for approximately 60% of industry revenue. Industry participants also provide internal auditing services, which are mainly carried out for the benefit of management.
Firms in this industry prepare and examine financial accounts and are responsible for the certification of their accuracy. The industry does not include bookkeeping activities (see IBISWorld report M69.202) or budgetary control activities (see IBISWorld report M70.229).
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.