Global Financial Auditing Professional Services Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

“Global Financial Auditing Professional Services Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global financial auditing professional services market report has been segmented on the basis of type, service, end use, and region.

Request Covid - 19 Impact

Global Financial Auditing Professional Services Market: Overview

Financial audit is an independent reporting process of objective evaluation of an organizations’ financial record and other financial activities in order to assure regulators, investors, directors, and managers for reasonable financial statements are correct. Large organizations need to appoint an external auditor to audit their books and publish financial figures at the end of a financial year. According to the result, financial audit professional service companies opting cloud-based infrastructure and focusing on integrating digital technologies, such as data analytics. These technologies collect, analyze, and reporting financial data.

Global Financial Auditing Professional Services Market: Dynamics

Increasing stringent government regulations regarding disclosure and reporting of financial details are expected to drive growth of the global market over the forecast period.

In addition, increasing demand for financial audition professional services across various industries such as healthcare, IT & telecommunication, BFSI, etc., in order to maintain organizations workflow is another factor expected to further fuel growth of the target market over the forecast period.

Technological advancements in audition services in order to help auditor for taking actionable insights by using companies’ financial figures and graphs is another factor expected to boost growth of the target market over the forecast period.

However, lake of awareness among individuals regarding the financial audition professional services is a key factor expected to restrain growth of the global market over the forecast period. In addition, increasing individuals’ preference towards automation or artificial intelligence (AI) across various industries is another factor expected to hamper growth of the target market over the forecast period.

Increasing technological advancements and investment in research and development activity to improve professional services are expected to create potential revenue opportunities for players operating in the target market over the forecast period. In addition, increasing mergers and acquisitions by players operating in the target market for strengthening companies’ performance the market and enhance their presence globally.

Global Financial Auditing Professional Services Market: Segment Analysis

Among the type segments, the external segment is expected to dominate in the target market. the internal segment is expected to register higher CAGR over the forecast period, owing to increasing organizations preference towards effectively manage risks related to frauds, protecting business interests, and enhancing business performance.

Among the service segments, the financial statement audit segment is expected to account for highest market share over the forecast period, owing to stringent regulations governing financial auditing and reporting by organizations.

Among the end use segments, the BFSI segment is expected to register significant share in terms of revenue over the forecast period owing to increasing digitization in various sectors, stringent regulatory scenario, and rising adoption of proactive internal auditing practices by banks, financial institutions, and insurance companies.

Global Financial Auditing Professional Services Market: Regional Analysis

The market in North America is expected to dominate in the global market in terms of revenue over the forecast period, owing to regulatory scenario, presence of many multinational corporations, and rising adoption of efficient internal auditing and reporting practices by companies in various countries in the region.

The market in Asia Pacific is expected to register significant share in terms of revenue over the forecast period, owing to rapidly growing industrialization and favorable government regulation in countries in this region.

Global Financial Auditing Professional Services Market Segmentation:

Segmentation by type:

• External Audit
• Internal Audit

Segmentation by service:

• Due Diligence
• Employee Benefit Plan Audit
• Financial Statement Audit
• Service Organization Control (SOC) Audit

Segmentation by end use:

• BFSI
• Government
• Manufacturing
• Healthcare
• Retail & Consumer
• IT & Telecommunication

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa