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Accounting & Auditing in the UK: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Accounting & Auditing Market Research Report | SIC M69.201 | Mar 2017

Accounting for uncertainty: Revenue is expected to fall following the EU referendum

IBISWorld’s Accounting & Auditing market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Market Share of Companies
Deloitte LLP Deloitte LLP market share
Ernst & Young LLP Ernst & Young LLP market share
KPMG LLP KPMG LLP market share
PricewaterhouseCoopers LLP PricewaterhouseCoopers LLP market share
Industry Statistics & Market Size
Revenue
£4bn
Annual Growth 12-17
1.5%
Annual Growth 17-22
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Profit
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Employment
37,384
Businesses
6,060
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.

External audit

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

 


Industry ProductsRelated ReportsTable of Contents

What is the Accounting & Auditing Industry?

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).

Industry Products
External auditInternal auditFinancial accountingManagement accounting
 
Industry Activities
Preparation of financial accountsExamination of financial accountsCertification of financial accounts


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