Industry Analysis & Industry Trends
The Accounting Services industry has grown over the past five years on the back of increasing demand from industry-specific advisory services. Tax and audit services have remained a dependable source of revenue for firms over the past five years, as demand for these services does not depend on economic conditions. 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 and cloud services. These value-added services have larger profit margins than traditional tax and audit processing.
Industry revenue is expected to increase by an annualised 2.6%... purchase to read more
Industry Report - Industry Locations Chapter
Enterprises in the Accounting Services industry are generally focused around New South Wales, reflecting the concentration of business and population in Australia. States on the east coast contain over 80% of all industry enterprises. Head offices of large industry players are typically in Sydney or Melbourne, as auditors and advisors generally work at their clients' offices. The number of enterprises in each state has generally increased over the past five years, as populations in major cities have risen.
Besides the eastern states, the highest concentration of industry enterprises is in Western Australia, and this share has grown marginally over the past five years... purchase to read more