Industry Analysis & Industry Trends
The Accounting Services industry's revenue has grown over the past five years, shrugging off any lingering effects of the global financial crisis. Higher levels of private capital expenditure have boosted demand for industry services, as firms require due diligence and audit services prior to undertaking planned capital expenditure. Tax and audit services have therefore remained a dependable source of revenue for industry firms over the past five years. In addition, revenue has increased as clients have looked to accounting firms for advice on trimming costs and becoming more competitive amid challenging economic conditions. The industry has also expanded its advisory services by incorporating new technology, such as data analytics... purchase to read more
Industry Report - Industry Key Buyers Chapter
The industry has a low level of market share concentration. The top four accounting firms in the industry, PricewaterhouseCoopers (PwC), Ernst & Young, KPMG and Deloitte, are forecast to account for less than 40% of industry revenue in 2015-16. The industry's low level of concentration is a result of more than half of its operators being sole proprietors, and about 45% employing fewer than 20 staff. These smaller firms, such as H&R Block, typically service individuals or small businesses.
Unlike the industry's smaller players, the top four firms tend to service large companies... purchase to read more