Forensic Accounting Services in the US - Industry Market Research Report
Forensic Accounting Services in the US
The Forensic Accounting Services industry has benefited from a mounting focus on the impact of fraud among domestic corporate clients. Industry companies provide services that apply accounting concepts and techniques to legal problems, investigate financial fraud and provide litigation support to attorneys and law enforcement agencies. Many forensic service providers specialize in fraud prevention, detection and response services. As improved internal controls and audit functions are essential to prevent this economic crime, forensic accountants are often employed to ensure fraud is not committed. Companies have increasingly relied on outside consultants, instead of in-house personnel, to investigate on their behalf. In 2020, because of COVID-19, the number of fraud reports reported rose significantly as the total number of online businesses increased, increasing demand for industry services. As a result, industry revenue has grown at an annualized rate of 3.4% to $8.6 billion over the five years to 2023, including an estimated 4.3% jump in 2023 alone, when profit is set to total 18.2%.
This industry provides services that apply accounting concepts and techniques to legal problems. Forensic accountants investigate and document financial fraud and white-collar crimes. They also provide litigation support to attorneys and law enforcement agencies that investigate financial wrongdoings.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
TABLE OF CONTENTS
ABOUT THIS INDUSTRY
Industry Definition Main Activities Similar Industries Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary Key External Drivers Current Performance Industry Outlook Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain Products & Services Demand Determinants Major Markets International Trade Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration Key Success Factors Cost Structure Benchmarks Basis of Competition Barriers to Entry Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity Technology & Systems Revenue Volatility Regulation & Policy Industry Assistance