Industry Analysis & Industry Trends
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. External audits account for approximately 58.2% of industry revenue. Industry participants also provide internal auditing services, which are mainly carried out for the benefit of management.
The industry is expected to grow at a compound annual rate of 1.5% over the five years through 2016-17 to reach £4.5 billion. Growth has been supported by generally strong levels of business capital expenditure throughout the period... 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 or for management purposes. Meanwhile, 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 58.2% of industry revenue and consists of audit and assurance services that are carried out largely for the benefit of the client's external stakeholders, lenders, suppliers, employees, customers and regulators. An .. purchase to read more