Industry Analysis & Industry Trends
The Accounting Services industry's revenue has shown strong growth over the past five years, shrugging off any lingering effects of the global financial crisis on professional service companies. The industry recorded weak growth in 2009-10, before growing strongly in 2010-11. This included strong returns from the four largest firms in the industry. However, weak business conditions resulted in the industry declining slightly in 2012-13. Over the past five years, businesses have increasingly sought to restructure, which requires accounting services for due diligence and auditing. The industry has expanded its advisory services as professional services firms have sought new ways to increase profit... purchase to read more
Industry Report - Industry Products Chapter
Service segmentation in the industry differs depending on firm size. Auditing tends to be the largest revenue-generating segment among the big four firms, due to their dominance in the listed company external audit market. Larger firms also tend to generate a large proportion of their revenue from advisory services. Outside the big four firms, business taxation services are a large segment, particularly among small firms.
A rising trend over the past five years has been the outsourcing of lower level activity overseas. Larger firms have been setting up dedicated outsourcing branches in places such as India, or looking to established outsourcing firms, to take advantage of lower wages to complete lower value-added tasks... purchase to read more