Industry Analysis & Industry Trends
The Accounting Services industry's revenue has grown strongly over the past five years, shrugging off any lingering effects of the global financial crisis. After weak growth in 2009-10, the industry rebounded in 2010-11. This included strong returns from the four largest firms in the industry. Nevertheless, weak business conditions resulted in the industry declining slightly in 2012-13. Over the past five years, increased restructuring of businesses in Australia has boosted demand for industry services, as accounting services are required for due diligence and auditing. The industry has also 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 significant proportion of their revenue from advisory services. Outside the big four firms, business taxation services dominate, particularly among smaller 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 using established outsourcing firms to take advantage of lower wages overseas to complete lower value-added tasks... purchase to read more