Information system audit services
market includes information system audit which involves the assessment of the
controls relevant to the IT infrastructure within an organization. Information
system audits may be performed as part of the internal control assessment
during internal or external audit.
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The global information system
audit services market was valued at $25 billion in 2017. Adoption of new
technologies such as analytics, artificial intelligence in Information System
has enabled the auditor to examine and analyze large volumes of structured and
unstructured data related to a company's financial information. This capability
allows auditors to test 100 percent of a company's transactions instead of only
a sample of the population. Major accounting firms have asserted that the use
of these tools will enhance the audit by automating time-consuming tasks which
are more manual and rote in nature.
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The
USA was the largest country in the market, accounting for three-tenth of the
global information system 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 India and China as the next
largest countries in the market.
The
major competitors in the market are PWC, Deloitte, Ernst & Young, and KPMG.
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