Accounting, Auditing, and Bookkeeping Services: Market Research Report

December 2011 | 160 pages | ID: A59A2B7CB6FEN
Global Industry Analysts, Inc

Abstracts

The global outlook series on Accounting, Auditing, and Bookkeeping Services provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings.

The report analyzes the growth drivers, market challenges, and reviews global and regional trends across various segments.

Market discussions in the report are amply illustrated with 31 fact-rich market data tables, charts, and graphs.

Regional markets briefly abstracted include the United States, Canada, Japan, Belgium, Germany, Italy, Norway, Russia, Sweden, the United Kingdom, Australia, China, Hong Kong, India, Argentina, Brazil, Mexico, and United Arab Emirates.

Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of 362 companies worldwide.

Contents

1.OVERVIEW

Introduction
Key Statistics

Table 1. World Recent Past, Current and Future Analysis for Accounting, Auditing and Book Keeping Services Market by Geographic Region – US, Europe, Asia- Pacific (including Japan) and Rest of World Markets Independently Analyzed with Annual Revenues in US$ Million for the Years 2010 through 2015

Table 2. World 5-Year Perspective for Accounting, Auditing and Book Keeping Services by Geographic Region – Percentage Breakdown of Dollar Revenues for US, Europe, Asia-Pacific (including Japan) and Rest of World Markets for Years 2011 & 2015

Table 3. World Recent Past, Current and Future Analysis for Accounting, Auditing and Book Keeping Services Market by Service Segments – Book Keeping Services, Auditing Services, Payroll Services, Tax Return Services and Others Independently Analyzed with Annual Revenues in US$ Million for the Years 2010 through 2015

Table 4. World 5-Year Perspective for Accounting, Auditing and Book Keeping Services by Service Segments – Percentage Breakdown of Dollar Revenues for Book- Keeping Services, Auditing Services, Payroll Services, Tax Return Services and Others for Years 2011 & 2015

History and Growth
Organizational Structure
Regulations and Standards
A Review of Big Four Auditors…
How the Crisis Affected the Revenues of Accounting Firms in 2009
Deloitte Touche Tohmatsu
Ernst & Young International
KPMG International
PricewaterhouseCoopers

Table 5. Leading Players in Global Accounting, Auditing Services Market FY2011): Revenues in US$ Billion for Big Four Auditors - PricewaterhouseCoppers, Deloitte, Ernst & Young, and KPMG

Leading Players in Global Accounting, Auditing Services Market (FY2011): Head Quarters, Year of Incorporation, and Employee Strength for Big Four Auditors-PricewaterhouseCoopers, Deloitte, Ernst & Young, and KPMG

Table 6. Leading Players in the Global Accounting, Auditing Services Market (2010): Percentage Market Share by Company – PwC, Deloitte, Ernst & Young, KPMG, and Others

Mergers & Acquisitions and Firm Additions of the Big Four Accounting Firms Updated to 2010

Table 7. Leading Mid Tier Accounting Firms in the Global Market (2010): Revenues in US$ Millions for BDO International, RSM International, Grant Thornton International, and Baker Tilly International

Top Five Global Accounting Associations (2010): Ranked on the Basis of Revenue
Small and Medium Enterprises – Key Customers
Competence and Professionalism
Enhanced Value and Role of Internal Auditors In the Current Environment
Global Financial and Accounting Outsourcing Space Evolves Over Time
Technology Trends to Look Forward to
Peek into Financial Accounting Applications
Factors in Favor of Future Growth
Influential Developments
Multibook Accounting Capabilities
Mashups

Table 8. Global Accounting Services Market (2010): Percentage Breakdown of Overall Fee Split by Category - Audit & Accounting, Tax, Management Consulting, and Others

2.THE SEGMENTS

Accountancy
Introduction

Table 9. Top Professional Accountancy Associations Globally with Membership Details as at 2009

Modern Accounting
History
Audit
Introduction
Audit Types
Quality Audit
Integrated Audit
Classifications of Auditors
Internal Auditors
External Auditors
The International Auditing and Assurance Standard Board
Bookkeeping
Introduction
Bookkeeper
Bookkeeping Types
Footing and Cross Footing
Computerized Bookkeeping
Online Bookkeeping
Methods of Bookkeeping
Single Entry Bookkeeping
Double-Entry Bookkeeping

3.TRENDS & ISSUES

Firms Continue to Rely on Strategic Alliances and Specialized Services
Recession Has its Impact Felt
Popular Trends in 2010 Include
Enhanced Role of Financial Professionals Post Recession
Accounting Firms Strategize to Weather the Storm
Accounting Services – A Future Outlook
Accountants Take Up the Fixed Fee Pricing Structure Post Recession
New Jobs in the US Accounting and Book Keeping Industry Usher in Recovery
Large Public Company Audit Market Highly Concentrated
Competition for the Big Four
Emerging Asian Countries - Attractive Markets for Mid-Tier Accounting Firms
Small Accounting Firms Take to Cloud Computing
Demand for Client Services Impels Knowledge Management Programs
Paperless Workflows – A Key Growth Strategy
Firms Provide Flexible Work Environments to Offset Resource Constraints
Outsourcing of Finance and Accounting Solutions Continues to Surge
Regulations: The Rationale Behind Accounting and Auditing Industry

4.MERGERS & ACQUISITIONS

5.STRATEGIC CORPORATE DEVELOPMENTS

6.SERVICE/ PRODUCT LAUNCHES

A REGIONAL MARKET PERSPECTIVE

1.THE UNITED STATES

Overview

Table 10. US Recent Past, Current and Future Analysis for Accounting, Auditing and Book Keeping Services Market by Service Segment – Book Keeping Services, Auditing Services, Payroll Services, Tax Return Services and Others Independently Analyzed with Annual Revenues in US$ Million for the Years 2010 through 2015

Table 11. US 5-Year Perspective for Accounting, Auditing and Book Keeping Services by Service Segment – Percentage Breakdown of Dollar Revenues for Book Keeping Services, Auditing Services, Payroll Services, Tax Return Services and Others for Years 2011 & 2015

Table 12. Leading Players in the US Accounting, Auditing Services Market (2010): Percentage Market Share by Company - Deloitte & Touche USA, Ernst & Young, PricewaterhouseCoopers, KPMG, and Others

Resilient Growth Despite Economic Slowdown
Impelling Factors
Challenges Ahead
Trends & Issues
CPAs Prepare for International Accounting Standards
The Slowdown and Strict Regulations have a Bearing on the US Tax Accounting Industry
Economic Slowdown Induces Growth of Forensic Accounting
Uncertain Economy Poses Formidable Challenges to Accountants
Consultation Services Overtake Auditing Services

2.CANADA

Overview

Table 13. Leading Players in Canadian Accounting, Auditing Services Market (2010): Percentage Market Share by Company - Deloitte & Touche, KPMG, PricewaterhouseCoopers, Ernst & Young, and Others

Canadian Auditing Industry
Quick look into Multilateral Instrument 52-111
Impending Factors
The CGA Canada Looks Forward to Removal of Certain Impositions

3.JAPAN

Overview

4.EUROPE

European Finance and Accounting Outsourcing – An Overview
Positive Growth for Accounting and Auditing Firms

Table 14. European Recent Past, Current and Future Analysis for Accounting, Auditing and Book Keeping Services Market by Geographic Region – France, Germany, Italy, UK and Rest of Europe Markets Independently Analyzed with Annual Revenues in US$ Million for the Years 2010 through 2015

Table 15. European 5-Year Perspective for Accounting, Auditing and Book Keeping Services by Geographic Region – Percentage Breakdown of Dollar Revenues for France, Germany, Italy, UK and Rest of Europe Markets for Years 2011 & 2015

Table 16. European Recent Past, Current and Future Analysis for Accounting, Auditing and Book Keeping Services Market by Service Segment – Book Keeping Services, Auditing Services, Payroll Services, Tax Return Services and Others Independently Analyzed with Annual Revenues in US$ Million for the Years 2010 through 2015

Table 17. European 5-Year Perspective for Accounting, Auditing and Book Keeping Services by Service Segment – Percentage Breakdown of Dollar Revenues for Book Keeping Services, Auditing Services, Payroll Services, Tax Return Services and Others Markets for Years 2011 & 2015

Table 18. Leading Accounting and Auditing Companies in the European Market (2009): Percentage Market Share for PwC International, KPMG International, Ernst & Young, Deloitte, and Others

New Regulations Increase Demand for Accounting Services in Europe
Advancement of the Process of Accounting Standards Harmonization in Europe
The Battle among the ‘Big Four’ Continues But are The Smaller Audit Firms Ready Yet

4A.BELGIUM

Overview
The Legal Framework of Belgium

4B.ESTONIA

An Overview of the Estonian Auditing Market

Table 19. Estonian Auditing Market (2009): Percentage Share Breakdown by Enterprise Categories - Large Scale Enterprises (PWC, KPMG and E&Y), Major Medium Scale Enterprises (Deloitte and Rimesse) and Minor Medium Scale Enterprises (BDO, PKF, HLB, KMRA, ELSS)

4C.GERMANY

German F&A Market – An Overview

Table 20. German Current and Future Analysis for Accounting, Auditing and Book Keeping Services Market - Annual Revenues in US$ Million for the Years 2010 through 2015

Table 21. Leading Players in the German Accounting, Auditing Services Market (2009): Percentage Market Share by Company – PwC, KPMG, Ernst & Young, Deloitte Touche Tohmatsu, and Others

Consolidations on the Rise in the German Market
F&A Outsourcing in Germany - A Brief

Table 22. German Accounting Services Market (2010): Percentage Breakdown of Overall Fee Split by Category – Audit & accounting, Tax, Management Consulting, and Others

4D.ITALY

Italian F&A Market Exhibiting Tremendous Growth Despite Economic Instability

Table 23. Italian Current and Future Analysis for Accounting, Auditing and Book Keeping Services Market - Annual Revenues in US$ Million for the Years 2010 through 2015

Table 24. Leading Players in the Italian Accounting, Auditing Services Market (2009): Percentage Market Share by Company - KPMG Italia, PwC Italy, Ernst & Young, Deloitte, and Others

Table 25. Italian Accounting Services Market (2009): Percentage Breakdown of Overall Fee Split by Category - Audit & Accounting, Tax, Management Consulting, and Others

4E.NORWAY

Norwegian Accounting & Auditing Market

4F.RUSSIA

Russian Audit Industry - Overview

4G.SWEDEN

Market Overview

4H.THE UNITED KINGDOM

Overview
Accounting Market in the UK

Table 26. UK Current and Future Analysis for Accounting, Auditing and Book Keeping Services Market - Annual Revenues in US$ Million for the Years 2010 through 2015

High Concentration in the Audit Market Raises Flux
Audit Revenue Once Again on the Growth Path
FAO – An Upcoming Market in the United Kingdom
Top 20 UK Accounting Firms Ranked on the Basis of Revenues for 2010

5.ASIA PACIFIC

Key Statistics

Table 27. Asia-Pacific Current and Future Analysis for Accounting, Audting and Book Keeping Services Market Analyzed by Annual Revenues in US$ Millions for Years 2010 through 2015

5A.AUSTRALIA

Australia – A Favorable Economy for SMEs
Additional Advisory Services Witness Decline In Demand in Australia
Small Firms Serve Small Public Companies

5B.CHINA

Chinese Market On a Consolidation Spree…
Leading Chinese Accounting Firms Ranked on the Basis of Annual Revenues (2010)
Leading Chinese Networks and Associations of Independent Accounting Firms

Table 28. Leading Players in the Chinese Accounting, Auditing Services Market (2009): Percentage Market Share by Company – PricewaterhouseCoopers, Deloitte & Touche, Ernst & Young, KPMG, and Others

Industry Impediments

Table 29. Chinese Accounting Services Market (2009): Percentage Breakdown of Mid-Tier Fee Split by Category - Audit & Accounting, Tax, Management Consulting, and Others

5C.HONG KONG

Overview
Relationships with China – The Accounting Services Market

5D.INDIA

Overview
Transitory Turbulence
Long term Challenge
Migration to IFRS: Opportunity to influence Global Standards
Financial Services Market in India – Impact of Recession
European Business Opportunities for Indian Accountants
Small and Medium Sized Audit Firms in India On a Capacity Building Initiative
Indian Subsidiaries of Global Accountancy Firms
The Limited Liabilities Partnership Act - A Boon for Smaller Auditors in India

5E.MALAYSIA

Big Four Dominance Thinning Down in Malaysia

5F.TAIWAN

Taiwan Accounting Services Sector – An Overview

6.LATIN AMERICA

Latin America to Emerge as a Potential Market for Accounting Services

6A.ARGENTINA

An Overview of Accounting Services Market in Argentina

Table 30. Argentinean Accounting Services Market (2011E): Percentage Breakdown of Overall Fee Split by Category - Audit & Accounting, Tax, Management Consulting, and Others

6B.BRAZIL

Overview
Audit Market
Congenial Regulatory and Legal Framework

6C.MEXICO

Overview
The Evolution of Bank Accounting Standards

7.THE MIDDLE EAST

7A.UNITED ARAB EMIRATES

Overview
Stumble Stones in the Market

Table 31. Accounting Services Market in theUAE (2011E): Percentage Breakdown of Overall Fee Split by Category - Audit & Accounting, Tax, Management Consulting, and Others

Global Directory