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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 can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

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 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.

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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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