Accounting Services in Canada
Over the five years to 2019, an expanding Canadian economy, in addition to an increasingly complex regulatory and tax structure, has bolstered demand for the Accounting Services industry in Canada. Operators in this industry provide a variety of services, including the financial statement preparation, budget development and the review of auditing records for small, medium and large businesses. Over the past five years, this diversity of services has helped provide a steady stream of revenue. In times of economic growth and improving investor optimism, the industry experiences a jump in revenue from assurance-related work, as accountants provide expertise for mergers and acquisitions, initial public offerings and other capital market structuring. The top accounting firms worldwide continue to increase their market share concentration through mergers and acquisitions and diverse service offerings. The top four major players are acquiring businesses to increase their local footprint and offer services more catered to for small- to medium-sized businesses.
The Accounting Services industry in Canada audits the accounting records of public and private organizations and attests to compliance with generally accepted accounting practices. Accounting services establishments provide a variety of accounting services, including auditing accounting records, designing accounting systems, preparing financial statements, developing budgets and providing advice on matters related to accounting.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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