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 SWOT Analysis Chapter
The market for accounting and auditing services in the United Kingdom is largely saturated, with few new avenues of growth available aside from fee increases. As a result, the industry is in the mature phase of the industry life cycle. Industry value added (IVA), measuring the industry’s contribution to the overall economy, is anticipated to grow at a compound annual rate of 2.4% over the 10 years through 2021-22. Meanwhile, the overall UK economy is expected to grow at a compound annual rate of 2.3% over the same period. This indicates that the industry is expected to grow at a similar rate as the UK economy.
.. purchase to read more