The forensic audit is an examination & evaluation of an individual or organization's background information, compliance, financial, and other information. The forensic audit services help handle and manage embezzlement, fraud, and other financial claims. The forensic audit includes sales of varied forensic audit services by sole traders, organizations, and partnerships which uses auditing & investigative skills that might have legal implications.
MARKET SCOPE
The "Global Forensic Audit Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the forensic audit market with detailed market segmentation by investigation type, industry, and geography. The report provides key statistics on the market status of the leading forensic audit market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on investigation type, the market is segmented into event and data analysis, regulatory investigations, cross border investigations, corruption and bribery investigation, accounting malpractice and securities investigations, and others.
- Based on industry, the market is segmented into financial services, mining, oil and gas, manufacturing, healthcare, construction, and others.
Drivers
- Factors such as contractual alliances made between the government bodies and forensic audit companies to instances of fraud in private companies. This factor is driving the growth of the forensic audit market.
- The advent of sophisticated technologies such as social media analytics and in-house forensic audit to detect illegal activities is anticipated to provide ample growth opportunities to the players operating in the forensic audit market.
- Lack of technical expertise may hinder the growth of the forensic audit market.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 concerning five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The forensic audit market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both the demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social, and technological factors affecting the forensic audit market in these regions.
IMPACT OF COVID-19 ON FORENSIC AUDIT MARKET
COVID-19 first began in Wuhan (China) in December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in the global market. Few companies have already announced possible delays in product deliveries and slumps in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the forensic audit market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of the business and customer base of market players. The market players from the forensic audit market are anticipated to have lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the forensic audit market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- AlixPartners, LLP
- Baker Tilly US, LLP
- Carter Backer Winter LLP
- FTI Consulting, Inc.
- Grant Thornton LLP
- Kroll, LLC.
- Marcum BP.
- Mazars
- MDD Forensic Accountants
- PKF International