Follow the money: Demand for forensic accounting services will soar as financial regulation rises

Over the past five years, the Forensic Accounting Services industry has benefited from a mounting focus on the impact of fraud among domestic corporate clients. As improved internal controls and audit functions are considered important methods to prevent economic crime, forensic accountants are often employed to make sure fraud is not being committed. Over the past five years, companies have increasingly relied on outside consultants, rather than in-house personnel, to investigate on their behalf. However, not all firms have grown at the same pace, with a number of distinctions existing between the average industry operator and the largest players, notably the Big Four professional services firms...purchase to read more.

Industry Statistics & Market Size
Revenue
$4bn
Annual Growth 12-17
7.2%
Forecast Growth 17-22
Profit
Employment
28,902
Businesses
5,055

Industry Threats & Opportunities

  • The industry experienced rapid growth as new financial regulations boosted demand
  • The growing capabilities of industry operators to analyze big data have made their operations more efficient
  • Declining bankruptcy figures have a negative effect on the industry
  • Industry Report - Industry Products Chapter

    The following breakdown is sourced from the American Institute of CPAs' (AICPA) forensic and valuation services trend survey. Among the firms that responded to the survey, the following is a breakdown of their specialty areas.ValuationIn 2017, 20.6% of industry revenue is anticipated to be generated from valuation services. Case types within this product segment include shareholder or partner disputes; family law or matrimonial dissolution; contractual disputes; and bankruptcy, insolvency and reorganization. According to the AICPA's survey data, cases involving shareholder or partner disputes are anticipated to increase at the fastest pace in the years ahead. Sha...purchase to read more.

    Additional Insights for the Forensic Accounting Services Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Forensic Accounting Services Industry are

  • Access to a highly skilled workforce
  • Having a good reputation
  • Having a clear market position
  • IBISWorld analysts also discuss how external factors such as Corporate profit and Demand from finance and insurance in the Forensic Accounting Services industry impact industry performance..

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    What's in this report

    What is the Forensic Accounting Services Industry?

    This industry provides services that apply accounting concepts and techniques to legal problems. Forensic accountants investigate and document financial fraud and white-collar crimes. They also provide litigation support to attorneys and law enforcement agencies that investigate financial wrongdoings.

    Industry Products
  • Valuation
  • Fraud prevention, detection and response
  • Economic damages
  • Family law
  • Financial statement misrepresentations
  • Bankruptcy and insolvency
  • Electronic data analysis
  • Industry Activities
  • Providing commercial and fraud investigation support
  • Providing fraud detection services
  • Providing anti-corruption and fraud risk management services
  • Providing asset recovery services
  • Providing business intelligence
  • Performing investigative due diligence
  • Providing litigation support
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Corporate profit
  • Demand from finance and insurance
  • Divorce rate
  • Business bankruptcies

  • Current Performance
  • Service diversity
  • Distinctions on the basis of size
  • Labor and technology investments
  • Chart: Revenue Growth

  • Industry Outlook
  • Macroeconomic and regulatory trends
  • Major challenges to face
  • Table: Forensic Accounting Services Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Forensic Accounting Services Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Manufacturing
  • Finance and Insurance
  • Professional, Scientific and Technical Services
  • Consumers

  • Key Selling Industries
  • Commercial Leasing
  • Computer & Packaged Software Wholesaling
  • Furniture Stores
  • Office Stationery Wholesaling

  • Products & Services
  • Fraud prevention, detection and response
  • Valuation
  • Economic damages
  • Financial statement misrepresentations
  • Family law
  • Electronic data analysis
  • Bankruptcy and insolvency
  • Chart: Forensic Accounting Services Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Investing entities
  • Lending institutions
  • Service sector firms
  • Government agencies
  • Legal professionals and individuals
  • Real estate sector firms
  • High technology firms
  • Chart: Major Market Segmentation for the Forensic Accounting Services Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitWagesPurchases and other
  • Chart: Cost Structure Benchmarking – Sector vs Forensic Accounting Services

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Forensic Accounting Services Industry

  • Industry Globalization
    PricewaterhouseCoopers LLP, Deloitte Touche Tohmatsu Limited, KPMG International, Ernst & Young Global Limited,
  • Table: PricewaterhouseCoopers LLP - financial performance
  • Table: Deloitte Touche Tohmatsu Limited - financial performance
  • Table: KPMG International - financial performance
  • Table: Ernst & Young Global Limited - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Forensic Accounting Services Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Forensic Accounting Services Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Number of Businesses (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Audit
  • An unbiased examination and evaluation of the financial statements of an organization.
  • Bankruptcy
  • A legal proceeding involving a person or business that is unable to repay outstanding debts.
  • Financial Forensics
  • A field that combines criminal investigation skills with financial auditing skills to identify financial criminal activity coming from within or outside of an organization.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s industry research report on Forensic Accounting Services provides up-to-date sales and market data, allowing you to identify the product and customer segments driving revenue growth. The report identifies the leading companies in the industry, and offers strategic analysis of the key factors influencing the market. Our data forecasts are accompanied by full analysis to illustrate how the market is responding to dominant and emerging trends.

    IBISWorld industry market research reports enable you to:
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    This report on Forensic Accounting Services:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Forensic Accounting Services market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Forensic Accounting Services, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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