Financial sector reforms boost the accounting services market

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2022 Accounting Services Market Report

The Business Research Company Global Accounting Services Market Report 2022 – Global Market Size, Trends and Forecast 2022-2026

LONDON, GREATER LONDON, UK, January 10, 2022 /EINPresswire.com/ – Regulatory reforms in the financial sector have increased demand for accounting services such as bookkeeping and tax advice. For example, the Basel-3 standards implemented in 2019, have thus increased the demand for accounting services worldwide. The Basel Committee on Banking Supervision designed Basel III as a set of internationally agreed policies in response to the financial crisis. The reforms aim to improve banking regulation, supervision and risk management. Over the next five years, statistics for the accounting services market show that other major changes, such as the UK’s exit from the EU, will create additional demand for accounting consultants, thereby stimulating the market.

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Some accountants outsource typical basic accounting tasks such as payroll accounting, accounts payable, and accounts receivable to allow their employees to focus on higher-value activities such as becoming vertical experts in financial markets. their customers and analyze their customers’ business data. This extra attention and analysis transforms the role of a traditional accountant into a business advisor and takes customer service to the next level by developing strong advisory-driven relationships. For example, QX Accounting Services (QXAS) Ltd provides outsourced accounting, financial and other services to accountants and accounting firms in the UK.

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The global accounting services market size is expected to grow from $ 1.17 trillion in 2021 to $ 1.32 trillion in 2022 at a compound annual growth rate (CAGR) of 12.7%. The growth in the accounting services market is primarily driven by companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of commercial activities which resulted in operational challenges. The accounting services market is expected to reach $ 2.02 trillion in 2026 at a CAGR of 11.1%.

The main players in the global accounting services industry are PwC, Ernst & Young, KPMG, Deloitte Touche Tohmatsu Limited, ADP LLC, BDO LLP, Paychex Inc., Grant Thornton LLP, RSM International and H&R Block Inc.

North America was the largest region in the accounting services market in 2021. Western Europe was the second largest region in the accounting services market. The regions covered in the Accounting Services Market report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

TBRC Global Accounting Services Market report is segmented by Type into Payroll Services, Tax Preparation Services, Bookkeeping, Financial Auditing, Other Accounting Services, by End Use Services Industry IT, manufacturing, financial services, construction, other, by service provider in large business, small and medium business.

Global Accounting Services Market Report 2022 – By Type (Payroll Services, Tax Preparation Services, Bookkeeping, Financial Auditing, Other Accounting Services), By End Use Industry (IT Services, Manufacturing , Financial Services, Construction, Other), By Service Provider (Large Business, Small & Medium Business) – Global Market Size, Trends and Forecasts 2022 – 2026 is part of a series of new reports from The Business Research Company that provides Accounting services market overview, forecast, market size and growth for overall market, accounting services market segments, geographies, accounting services market trends, accounting services market drivers accounting, constraints, revenues, profiles and market shares of the main competitors.

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