Industry Analysis & Industry Trends
The Accounting and Auditing industry comprises two distinct service segments. Accounting services include the preparation of financial accounts and the generation of financial statements, required by law for publicly listed companies. Auditing services involve the process of externally reviewing a company's financial statements in order to guarantee their accuracy.
Regardless of economic conditions, the statutory requirement for the submission of audited financial accounts generates regular demand for services provided under each of the two industry segments and results in a stable revenue base for the industry. As a result, the Accounting and Auditing industry has displayed a low level of revenue volatility during the five years through 2012-13... purchase to read more
Industry Report - Industry Products Chapter
The Accounting and Auditing industry provides two main groups of services. Accounting services include the preparation of financial statements in order to make them publicly available while auditing services are performed in order to check whether the preparation of financial statements has been done accurately and without deception or mistakes.
The external audit segment is estimated to account for 60% of industry revenue and consists of audit and assurance services that are carried out largely for the benefit of the client organisation's external stakeholders (such as investors), lenders, suppliers, employees, customers and regulators... purchase to read more