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(MoneyNewsWire.Net, August 06, 2018 ) Internal audit services market includes examining, monitoring and analyzing activities of company operations by independent internal auditing companies/consultants/professionals. The services are intended to identify potential risks or fraudulent activities, help improve internal control, efficiency and corporate governance and help in effective enterprise risk management.
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The global internal audit services market was valued at $34 billion in 2017. This is due to economic growth and technology development.
North America was the largest geographic region in the market, accounting for two-fifth of the global market share, due to high demand for services such as accounting, legal, advertising, photographic services and other professional services from companies across all industries.
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The USA was the largest country in the market, accounting for three-tenth of the global market share, due to the presence of large number of commercial establishments seeking accounting, legal, and management consulting, advertising and other professional services. The USA was followed by India and China as the next largest countries in the market.
The major competitors in the market are Ernst & Young, Protiviti, Deloitte, PwC and KPMG. EY is one of the largest professional services firms in the world and is one of the "Big Four" accounting firms. EY operates as a network of member firms which are separate legal entities in individual countries. It has 250,000 employees in over 700 offices around 150 countries in the world.
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