The public
sector audit services market involves assessing financial information of
government organizations, and non-profit organizations such as charities, education
and healthcare. Internal public sector audit is performed by the organization’s
internal auditor and reports to the management. External public sector audit
service is performed by an independent accounting firm from outside the
organization.
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The global public sector
audit services market was valued at $25 billion in 2017.
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The USA was the largest
country in the market, accounting for three-tenth of the global public sector
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 India as the next largest countries in the market.
The major competitors in the
market are PricewaterhouseCoopers Advisory Services LLC (PWC Advisory
Services), KPMG LLP (Advisory), EY (Ernst & Young) LLP Consulting Practice,
Deloitte Consulting LLP, and Grant Thornton LLP.
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