Forensic audit services involve examining
and evaluating financial information of an individual or a company to be used
as evidence for court proceedings. A forensic audit is used to prosecute
illegal and unscrupulous financial activities like fraud, money laundering and
embezzlement.
The global forensic audit services market
was valued at $13 billion in 2017. Among regional markets, North America was
the largest geographic region accounting for more than two-fifth of the global
market share. The market saw a growth as company’s increasingly outsourced work
to low cost economies. Many companies outsourced tax filing, drafting legal
documents, opinion polling and other professional sources to their offshore centers
to capitalize on the availability of highly skilled and low-cost manpower in
countries such as India and the Philippines.
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The USA was the largest country in the
market, accounting for more than three-tenth of the global forensic audit
services market share. This was mainly due to the presence of a large number
commercial establishments seeking accounting, legal, and management consulting,
advertising and other professional services. The USA was followed by China and
the UK as the next largest countries in the market.
The top five competitors in the market are:
PricewaterhouseCoopers LLP followed by Deloitte Touche Tohmatsu Limited, KPMG
International, Ernst & Young Global Limited and Key Forensic Services.
PricewaterhouseCoopers (doing business as PwC) is a multinational professional
services network headquartered in London, United Kingdom. It is the largest
professional services firm in the world. PwC is a network of firms in 158
countries, 743 locations, with more than 236,000 people.
The
Business Research Company is a Business Intelligence Company which excels in
company, market and consumer research. It has offices in the UK, the US and
India and a network of trained researchers in 15 countries globally.
Contact Information.
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
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