This year accounting firm performance is expected to post a 5.6% rise, generating $15.8 billion. This jump will significantly boost the average rate of growth recorded by firms over the past five years, pushing it to 2.7% per annum. The constraint on performance was the global financial crisis, which caused revenue to contract in 2008-09 and 2009-10. However, the falls were only marginal as clients sought help in identifying and implementing cost-cutting measures. Growth since 2010-11 has been powered by increasing demand for advisory services. Firms are now seeking process improvement advice to further streamline processes as tax advisory services have grown increasingly popular.
Firms in this industry provide accounting, auditing and bookkeeping services. The services provided relate to all areas of taxation, financial reporting and auditing. Many firms also offer business advice and assistance.
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.