Forensic Audit Market Strategies and Forecast by 2031

Analyst Perspective

The forensic audit market has grown over the past few years. The pandemic did not affect the performance of the market. In fact, the market was performing well during the pandemic due to the increase in tax evasion and financial fraud instances. Governments around the world are taking the initiative to tackle financial fraud, resulting in the further growth of the market. The constraint that could hinder the market growth is the lack of technical expertise in operating the tool.

Market Overview

A forensic audit is a combination of both investigating and accounting processes. Forensic auditing will require accounting and auditing procedures and knowledge of the legal framework. The growing demand for work-from-home and remote work policies, along with the automated accounting solution, has increased the need for forensic auditing. North America is expected to be the dominating region throughout the forecast period, owing the largest market share. The forensic audit market is expected to expand at a CAGR of around 7.5% during 2023-2031.

Market Driver

The Government's Initiative to Tackle Financial Fraud

Governments around the world have increased efforts to tackle the number of financial frauds occurring. They have joined forces with private forensic auditing companies to bring about changes to the business environment of countries. Promoting a clearer and cleaner way of financial operations. This step will positively impact the forensic audit market and will see further growth in the market in the coming years.

Market Scope

The "Global Forensic Audit Market Analysis to 2031" is an in-depth and specialized study focusing on the global market trend analysis. The report aims to provide an overview of the forensic audit market with detailed market segmentation by type, industry, and geography. The market report provides key statistics on the market status of the leading forensic audit market players and offers key trends and opportunities.

Market Segmentation

The global forensic audit market is segmented on the basis of type, industry, and geography. On the basis of investigation type, the market is segmented into event and data analysis, regulatory investigations, cross-border investigations, corruption and bribery investigations, accounting malpractice and securities investigations, and others. On the basis of industry, the market segmentation is into financial services, mining, oil and gas, manufacturing, healthcare, construction, and others.

REGIONAL FRAMEWORK

The report provides an in-depth overview of the industry, including qualitative and quantitative information. It gives an overview and forecast of the global market based on a number of segments. It also provides market size and forecast estimates from 2021 to 2031 concerning the five major regions, namely, North and South America, Europe, Middle East and Africa (MEA), and Asia-Pacific (APAC). The forensic audit market by region is further segmented by countries and segments. The report covers the analysis and forecast of the 18 countries from across the globe, along with the region's current trends and opportunities.

The report analyzes factors impacting the market from demand and supply. Further, it evaluates market dynamics impacting the market during the forecast period, i.e., opportunities, future trends, drivers, and restraints. The report also provides an extensive PEST analysis for the five regions, namely North and South America, Europe, MEA, and APAC, after evaluating political, economic, social, and technological factors affecting the forensic audit market in these regions.

MARKET PLAYERS

The report covers key developments in the forensic audit market as inorganic and organic growth strategies. Many companies are centering on organic growth strategies such as product launches, approvals, patents, and events. Inorganic growth strategies activities seen in the market were acquisitions and partnerships & collaborations. The activities have made way for business expansion and the customer base of market players. The market players from the forensic audit market are expected to witness lucrative growth opportunities in the future with the rising demand in the global market.

The report also includes the key companies' profiles along with the SWOT analysis and market strategies in the forensic audit market. Moreover, the report focuses on the leading industry players with information on their profiles, components, and services offered, financial information of the companies for the previous 3 years, and key developments 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
• MDD Forensic Accountants
• PKF International
• Ernst & Young Global Limited

Forensic Audit Report Scope