Forensic Auditing Market by Investigation Type (Accounting Malpractice & Securities Investigations, Corruption & Bribery Investigation, Cross Border Investigations), End-use Industry (Financial Services, Healthcare, Manufacturing) - Global Forecast 2024-2

Forensic Auditing Market by Investigation Type (Accounting Malpractice & Securities Investigations, Corruption & Bribery Investigation, Cross Border Investigations), End-use Industry (Financial Services, Healthcare, Manufacturing) - Global Forecast 2024-2030

The Forensic Auditing Market size was estimated at USD 18.70 billion in 2023 and expected to reach USD 20.11 billion in 2024, at a CAGR 8.13% to reach USD 32.33 billion by 2030.

Forensic auditing focuses on gathering evidence and analyzing financial records to detect fraud, conflicts of interest, embezzlement, and other illegal activities or discrepancies. It involves using investigative techniques such as interviews, document reviews, and tracing transactions to identify potential issues with the accuracy and reliability of an organization's financial statements. The rising incidences of cybercrimes and frauds in financial institutions are accelerating the adoption of forensic auditing services to uncover criminal behavior such as embezzlement. However, the high cost and ethical issues associated with forensic auditing may adversely impact the use of forensic auditing services. Moreover, the integration of accounting, auditing, and investigative skills with innovative technologies is expected to encourage the adoption of forensic auditing services by the end-use sectors worldwide.

Regional Insights



The forensic auditing market is evolving in the Americas owing to the presence of well-established banks, technology companies, and healthcare organizations and the growing need to mitigate financial fraud. The growing need to comply with the standards implemented by the regional government and the presence of imminent forensic providers are proliferating the growth of the forensic services market in the APAC region. The vast presence of oil & gas, manufacturing, and healthcare sectors in the EMEA region is expanding the use of forensic auditing services. Additionally, the adoption of innovative digital solutions by forensic auditing service providers is expected to assist the end-use sectors in generating evidence-based data and mitigate fraud.

Market Insights



Market Dynamics



The market dynamics represent an ever-changing landscape of the Forensic Auditing Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers


Significant growth in financial fraud and claim cases
Growing adoption in banks and financial services worldwide to mitigate fraud
Governmental rules and regulations associated with forensic auditing services

Market Restraints


High cost of forensic auditing services

Market Opportunities


Emergence of social media analytics for fraud detection
Growing investments for incorporation of forensic auditing across large enterprises

Market Challenges


Ethical issues and time-consuming auditing procedures

Market Segmentation Analysis


Investing Type: Growing usage of cross-border investigations to identify any potential criminal activity
End-User: Growing potential of forensic auditing across the healthcare industry to ensure accuracy in patient billing processes

Market Disruption Analysis


Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix



The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Forensic Auditing Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis



The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Forensic Auditing Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments




Forensic Risk Alliances announces partnership with TRM Labs

Forensic Risk Alliance (FRA) has entered into a strategic partnership with TRM Labs to augment its capabilities in cryptocurrency investigations. FRA is expected to leverage TRM Labs' cutting-edge blockchain data platform and industry-leading forensic tools to track cryptocurrency transactions. The enriched blockchain data provided by TRM Labs can empower FRA in uncovering concealed patterns, detecting suspicious activities, and conducting comprehensive analysis within the domain of regulatory compliance and legal affairs.


Davies launches new forensic accounting services

Davis Forensic Group, LLC, a professional services and technology firm in insurance introduced a new forensic accounting service. The purpose of this service is to enhance the claim’s process and provide additional value to insurance clients. It is expected to be offered in collaboration with the firm's loss adjusting and claims TPA teams, leveraging their expertise in business interruption, cyber, and major and complex losses.


EY Forensics and Integrity Services launches learning-as-a-service in ethics and compliance

EY Forensics and Integrity Services introduced learning-as-a-service in ethics and compliance to facilitate convenient professional development. This initiative focuses on the complexities of various topics, such as code of conduct, anti-bribery, anti-corruption, and anti-money laundering.

Strategy Analysis & Recommendation



The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Forensic Auditing Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles



The report delves into recent significant developments in the Forensic Auditing Market, highlighting leading vendors and their innovative profiles. These include AlixPartners, LLP, Alvarez & Marsal Holdings, LLC., Aon PLC, Baker Tilly US, LLP, BDO International Limited, Berkeley Research Group, LLC, Control Risks Group Holdings Ltd, CRA International, Inc., Crowe LLP, Deloitte Touche Tohmatsu Limited, Eide Bailly LLP, Eisner Advisory Group LLC, Ernst & Young Global Limited, FTI Consulting, Inc.,, GHD Advisory, Grant Thornton International Ltd, HKA Global, KPMG International Limited, Kroll, LLC., Navigant Consulting, Inc., PKF O'Connor Davies LLP, PricewaterhouseCoopers International Limited, Protiviti Inc. by Robert Half International Inc., and RSM International Ltd..

Market Segmentation & Coverage



This research report categorizes the Forensic Auditing Market to forecast the revenues and analyze trends in each of the following sub-markets:

Investigation Type
Accounting Malpractice & Securities Investigations
Corruption & Bribery Investigation
Cross Border Investigations
Event & Data Analytics
Regulatory Investigations
End-use Industry
Financial Services
Healthcare
Manufacturing
Mining
Oil & Gas
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year