As with most of the financial sector, the Global Accounting Services industry's revenue fell in 2009, after reaching a historical peak in 2008. Accounting firms have since rebounded and hit a new historic high in 2011. Over the five years to 2016, revenue is expected to increase due to improved global economic conditions. However, while the nature of work undertaken by the industry will begin to switch back to cyclical activities, such as corporate advisory work on expansions and major transactions, these activities will remain relatively depressed compared with before the financial crisis. Demand for services related to bankruptcies, liquidations and restructures will continue to be relatively strong as high levels of public and private debt constrain growth in many major economies.
Accounting firms provide a range of financial services related to accounting. These include preparation and auditing of financial statements; tax consulting and preparation of tax returns; bookkeeping; accounting systems design; and financial and business advisory services.
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.