Auditing Services Industry Procurement Intelligence, Growth Insights Till 2027Posted by Manisha S on January 18th, 2022 Auditing is an official examination and verification of a business’s financial records. Auditing services include official inspection and verification of the credibility of financial reports. The main objective of auditing is to confirm whether the company’s financial statements are accurate and are following regulatory guidelines. Auditing also gives investors, creditors, and other stakeholders reasonable assurance that they can rely on a company and its integrity. Audits can be conducted by either a business’s management as an internal control process or by the government, in case they notice suspicious financial activity. Auditing services can be categorized into three major types:
Read report summary or request a free sample copy of the report “Auditing Services Industry Procurement Intelligence, Supplier Intelligence, Supplier Ranking, Pricing & Cost Structure Intelligence, Best Practices, Engagement Model, Low & Best Cost Country, Day One Analysis Report, 2020 – 2027” Demand Outlook The global auditing services market is valued at ~USD 220 billion in 2020 and it is expected to grow at a CAGR of 4% from 2020 to 2027 majorly due to Increasing stringent government regulations regarding disclosure and reporting of financial details. The external audit segment has a higher market share than the internal audit segment. The external audit segment accounted for more than 60% of the overall market. However, the internal audit segment is expected to witness the highest growth rate during the forecast period. North America has the largest market share of ~40% in the global market followed by APAC and Europe. Cost Drivers The salary of professionals conducting the auditing is the major cost driver of the auditing services. This auditor rate is very high in North America and Europe. APAC\'s average auditor rate is around 50% lower than North America and Europe. However, the salary growth rate in APAC is considerably higher than in other regions. Find more research reports by Grand View Research:
Some of the key suppliers of auditing services are:
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