Accounting Services in Canada Industry Market Research Report from IBISWorld Has Been Updated

Continued high demand for Canadian natural resources will drive demand for Canadian mining and natural resource companies, which, in turn, will increase demand for accounting services, as burgeoning mining and drilling companies will ask accounting firms to prepare their financial statements and audit their books. For these reasons, industry research firm IBISWorld has updated a report on the Accounting Services industry in its growing industry report collection.

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High demand for natural resources will benefit mining and natural resource companies.

New York, NY (PRWEB) January 31, 2014

In the five years to 2014, revenue in the Accounting Services industry is expected to increase by an average annual rate of 2.6% to $16.4 billion, including 2.2% rise in 2014. Industry growth has been propelled by an increase in the total number of Canadian businesses, which expanded the potential pool of clientele for accounting firms. “Firms in this industry commonly provide a variety of services, such as the preparation of financial statements, the development of budgets and the review of auditing records for small, medium and large businesses,” according to IBISWorld Industry Analyst Stephen Morea.

Impressively, revenue in the Accounting Services industry is expected to increase in each and every year from 2009 through 2014, as the diversity of services offered by accounting firms has helped provide a steady stream of revenue. “In periods of economic duress, this industry experiences an increase in sales related to insolvency and receivership services, as failing businesses commonly hire accountants to act in an advisory capacity during these proceedings,” says Morea. In times of economic growth and improving investor optimism, the industry experiences a jump in revenue from assurance-related work, as accounts provide expertise for mergers and acquisitions (M&As), initial public offerings (IPOs) and other capital market structurings. Last, the industry is increasingly offering tax and consulting services designed to advise multinational corporations looking to navigate a progressively complex tax and regulatory environment.

From 2014 through 2019, this diversity of services will facilitate an estimated average annual increase in revenue. Anticipated growth in the total number of Canadian businesses will underpin industry revenue growth. Continued high demand for Canadian natural resources will drive demand for Canadian mining and natural resource companies, which, in turn, will increase demand for accounting services, as burgeoning mining and drilling companies will ask accounting firms to prepare their financial statements and audit their books. In final, as multinational companies enter Canada, they will rely on accounting firms to provide insight into federal tax incentive programs. Likewise, as Canadian companies expand overseas, accounting services firms will be needed to advise businesses on global tax issues, such as transfer pricing.

For more information, visit IBISWorld’s Accounting Services in Canada industry report page.

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IBISWorld industry Report Key Topics

This industry audits the accounting records of public and private organizations and attests to compliance with generally accepted accounting practices. Accounting services establishments provide a variety of accounting services, including auditing accounting records, designing accounting systems, preparing financial statements, developing budgets and providing advice on matters related to accounting.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US and Canadian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.


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  • Gavin Smith
    IBISWorld
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