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Forensic accounting, forensic accountancy or financial forensics is the specialty practice area of accounting that describes engagements that result from actual or anticipated disputes or litigation. "Forensic" means "suitable for use in a court of law", and it is to that standard and potential outcome that forensic accountants generally have to work. Forensic accountants, also referred to as forensic auditors or investigative auditors, often have to give expert evidence at the eventual trial. All of the larger accounting firms, as well as many medium-sized and boutique firms and various police and government agencies have specialist forensic accounting departments. Within these groups, there may be further sub-specializations: some forensic accountants may, for example, just specialize in insurance claims, personal injury claims, fraud, anti-money-laundering, construction, or royalty audits.
Over the next five years, the Big Four accounting firms will continue to perform the majority of forensic accounting services because of their well-established relationships with large corporate clients. However, medium-size firms will likely take on an increasing share of forensic accounting work associated with the major public companies, as mergers among regional firms continue. Smaller firms that offer niche forensic accounting practices (e.g. family law and patent litigation) are projected to grow faster than the industry average during the next five years.
Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 100 countries around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the Forensic Accounting Services market in 2020.
COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets.
The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor events restricted; over forty countries state of emergency declared; massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about future.
This report also analyses the impact of Coronavirus COVID-19 on the Forensic Accounting Services industry.
Based on our recent survey, we have several different scenarios about the Forensic Accounting Services YoY growth rate for 2020. The probable scenario is expected to grow by a xx% in 2020 and the revenue will be xx in 2020 from US$ 16950 million in 2019. The market size of Forensic Accounting Services will reach xx in 2026, with a CAGR of xx% from 2020 to 2026.
With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global Forensic Accounting Services market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global Forensic Accounting Services market in terms of revenue.
Players, stakeholders, and other participants in the global Forensic Accounting Services market will be able to gain the upper hand as they use the report as a powerful resource. For this version of the report, the segmental analysis focuses on revenue and forecast by each application segment in terms of revenue and forecast by each type segment in terms of revenue for the period 2015-2026.
Regional and Country-level Analysis
The report offers an exhaustive geographical analysis of the global Forensic Accounting Services market, covering important regions, viz, North America, Europe, China, Japan, Southeast Asia, India and Central & South America. It also covers key countries (regions), viz, U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Mexico, Brazil, Turkey, Saudi Arabia, UAE, etc.
The report includes country-wise and region-wise market size for the period 2015-2026. It also includes market size and forecast by each application segment in terms of revenue for the period 2015-2026.
Competition Analysis
In the competitive analysis section of the report, leading as well as prominent players of the global Forensic Accounting Services market are broadly studied on the basis of key factors. The report offers comprehensive analysis and accurate statistics on revenue by the player for the period 2015-2020. It also offers detailed analysis supported by reliable statistics on price and revenue (global level) by player for the period 2015-2020.
On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Forensic Accounting Services market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Forensic Accounting Services market.
The following players are covered in this report:
Ernst & Young
PwC
Deloitte
KPMG International
FTI Consulting
Kroll
AlixPartners
Control Risks
K2 Intelligence
Grant Thornton
BDO
Alvarez & Marsal
Nardello
Forensic Risk Alliance (FRA)
Charles River Associates
Berkeley Research Group
Hemming Morse
Forensic Accounting Services Breakdown Data by Type
Criminal and fraud investigation
Bankruptcy proceedings
Risk management
Risk Management occupies the largest market share segmentation, Criminal and Fraud Investigation
Type is growing fastest
Forensic Accounting Services Breakdown Data by Application
Large Businesses
Government
Insurance Professionals
Small Businesses
Legal Professionals
Individuals
Individuals accounted for the largest share of applications at 35.28%
Over the next five years, the Big Four accounting firms will continue to perform the majority of forensic accounting services because of their well-established relationships with large corporate clients. However, medium-size firms will likely take on an increasing share of forensic accounting work associated with the major public companies, as mergers among regional firms continue. Smaller firms that offer niche forensic accounting practices (e.g. family law and patent litigation) are projected to grow faster than the industry average during the next five years.
Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 100 countries around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the Forensic Accounting Services market in 2020.
COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets.
The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor events restricted; over forty countries state of emergency declared; massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about future.
This report also analyses the impact of Coronavirus COVID-19 on the Forensic Accounting Services industry.
Based on our recent survey, we have several different scenarios about the Forensic Accounting Services YoY growth rate for 2020. The probable scenario is expected to grow by a xx% in 2020 and the revenue will be xx in 2020 from US$ 16950 million in 2019. The market size of Forensic Accounting Services will reach xx in 2026, with a CAGR of xx% from 2020 to 2026.
With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global Forensic Accounting Services market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global Forensic Accounting Services market in terms of revenue.
Players, stakeholders, and other participants in the global Forensic Accounting Services market will be able to gain the upper hand as they use the report as a powerful resource. For this version of the report, the segmental analysis focuses on revenue and forecast by each application segment in terms of revenue and forecast by each type segment in terms of revenue for the period 2015-2026.
Regional and Country-level Analysis
The report offers an exhaustive geographical analysis of the global Forensic Accounting Services market, covering important regions, viz, North America, Europe, China, Japan, Southeast Asia, India and Central & South America. It also covers key countries (regions), viz, U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Mexico, Brazil, Turkey, Saudi Arabia, UAE, etc.
The report includes country-wise and region-wise market size for the period 2015-2026. It also includes market size and forecast by each application segment in terms of revenue for the period 2015-2026.
Competition Analysis
In the competitive analysis section of the report, leading as well as prominent players of the global Forensic Accounting Services market are broadly studied on the basis of key factors. The report offers comprehensive analysis and accurate statistics on revenue by the player for the period 2015-2020. It also offers detailed analysis supported by reliable statistics on price and revenue (global level) by player for the period 2015-2020.
On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Forensic Accounting Services market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Forensic Accounting Services market.
The following players are covered in this report:
Ernst & Young
PwC
Deloitte
KPMG International
FTI Consulting
Kroll
AlixPartners
Control Risks
K2 Intelligence
Grant Thornton
BDO
Alvarez & Marsal
Nardello
Forensic Risk Alliance (FRA)
Charles River Associates
Berkeley Research Group
Hemming Morse
Forensic Accounting Services Breakdown Data by Type
Criminal and fraud investigation
Bankruptcy proceedings
Risk management
Risk Management occupies the largest market share segmentation, Criminal and Fraud Investigation
Type is growing fastest
Forensic Accounting Services Breakdown Data by Application
Large Businesses
Government
Insurance Professionals
Small Businesses
Legal Professionals
Individuals
Individuals accounted for the largest share of applications at 35.28%
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
