The Business Research
Company added Forensic Audit Market Global Opportunities And Strategies To 2022
Report Under its “Professional Services” Industry.
The forensic audit services
market consists of sales of forensic audit services by entities (organizations,
sole traders and partnerships) that apply auditing and investigative skills to
situations that may have legal implications. A forensic audit is an examination
and evaluation of a firm's or individual’s financial, compliance, background
information and other types of information for use as evidence in a court of
law or legal proceedings. Examples of the use of forensic audits range from
prosecuting a party for fraud, embezzlement or other financial claims, to
distributing assets during separation or divorce proceedings, although the vast
majority of the market is business to business.
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Key Players In Forensic Audit Market:
The Forensic Audit market is
relatively fragmented, with the top eight competitors making up about 28% of
the total market in 2018. Players in the market include China Sports Lottery
China Welfare Lottery, Sociedad Estatal Loterías y Apuestas del Estado S.A.,
Las Vegas Sands Corporation, Japan Takarakuji lottery, Galaxy Entertainment
Group Limited, MGM Resorts International, SJM Holdings Limited , Melco
International Development Ltd., Wynn Resorts Ltd.
Some of the major drivers of the market are:
Public Private Collaboration – Governments of various countries
across the world are collaborating with private forensic audit services
companies to develop and enhance their country’s business environment. The
governments and security exchanges of several countries are appointing private
audit firms to keep a check on companies and prevent them from committing fraud.
Technology Development – Use of advanced technologies such as
artificial intelligence to analyze and quickly identify irregularities in the
data is expected to drive the growth of the forensic audit services market in
the forecast period. Auditors use artificial intelligence to spot suspicious
activities or inaccuracy in accounting entries and transactions. Artificial
intelligence uses rules created by humans to reason through issues and reach
conclusions by identifying patterns from the huge data sets available.
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The forensic audit market is
segmented by end user
By End Users- The Forensic Audit market segmented by end users into
financial services, manufacturing, mining and oil & gas, other services,
healthcare and others. The financial services market accounted for the largest
share of the forensic audit market in 2018 at around 38% and is expected to be
the fastest-growing .
By Geography- The Forensic Audit market is segmented into
China,India,Japan,Australia, Western Europe, UK,Germany,France ,Italy,Spain,
Eastern Europe, Russia, North America, USA, South America, Brazil, Middle East
and Africa. Among these regions,North America is the largest market for
forensic audit market in the global market. It was followed by Western Europe,
Asia-Pacific and then the other regions. Going forward, Asia Pacific, and
Africa will be the fastest growing regions in this market. This is followed by,
Eastern Europe and Western Europe.
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About Company:
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researchers in 15 countries Globally. The Business Research Company maintains
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quality. Data is drawn from established sources and expert interviews, and is
fully referenced. All our content is edited by a team of UK academics.
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