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External Audit Services
Market, Supplier, Risk and
Competitive Intelligence

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Subscription Benefits:

  • PRO access to Beroe LiVE.Ai™
  • Category Report with unlimited updates
  • Supplier Watchlist for 3 suppliers
  • Supplier Shortlisting Tool

With this purchase you will be subscribed for a 12-month PRO membership to AI Powered Procurement Productivity Suite - Beroe LiVE.Ai™

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Manage External Audit Services Category with Ai powered
Procurement Productivity Suite

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Abi will answer all External Audit Services related
procurement queries with relevant data points

Abi - AI powered digital procurement assistant

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Get up-to-date market and supplier info on External Audit Services to help you build

Intelligence covers market and price outlook, SWOT analysis, demand & supply drivers, engagement models and Procurement best practices

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Intelligence on category covers the following aspects market outlook, supply market, SWOT analysis, Cost components & Price outlook, Demand and supply drivers, Engagement Models and Procurement Best Practices

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Assess Supplier Risk based on key risk and compliance parameters

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Supplier assessment covers the following parameters Financial Risk, Ethical, Labor, Environmental Compliance, IT Security.

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Supplier assessment is powered by world’s leading data partners including D&B, CreditSafe, Dow Jones, Refinitiv, Orpheus

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Identify right fit suppliers based on your selection criteria including revenue, capabilities, certification, geography

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Select suppliers based on industry, country, classification from a database of 4.2 mn suppliers. Get detailed supplier profiles with supplier capabilities, revenue, certifications, risk ratings

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Benchmark your category performance against peers and the market

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Measure category performance on 15 key parameters across cost, risk and strategy KPIs

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Get information on key factors affecting your supply

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Source Macro Data and Market Indices information from leading data sources across these key areas - Labor Rates, Currency, Energy, Country Risk, Trade Flow/Transportation, Port Data, Tariff, Weather and Epidemics

meet-abi-1

Abi will answer all External Audit Services related
procurement queries with relevant data points

Abi - AI powered digital procurement assistant

discover-market-info

Get up-to-date market and supplier info on External Audit Services to help you build

Intelligence covers market and price outlook, SWOT analysis, demand & supply drivers, engagement models and Procurement best practices

1

Intelligence on category covers the following aspects market outlook, supply market, SWOT analysis, Cost components & Price outlook, Demand and supply drivers, Engagement Models and Procurement Best Practices

manage-risk

Assess Supplier Risk based on key risk and compliance parameters

1

Supplier assessment covers the following parameters Financial Risk, Ethical, Labor, Environmental Compliance, IT Security.

2

Supplier assessment is powered by world’s leading data partners including D&B, CreditSafe, Dow Jones, Refinitiv, Orpheus

discover-supplier

Identify right fit suppliers based on your selection criteria including revenue, capabilities, certification, geography

1

Select suppliers based on industry, country, classification from a database of 4.2 mn suppliers. Get detailed supplier profiles with supplier capabilities, revenue, certifications, risk ratings

assess-category-perforamnce

Benchmark your category performance against peers and the market

1

Measure category performance on 15 key parameters across cost, risk and strategy KPIs

source-market-indices

Get information on key factors affecting your supply

1

Source Macro Data and Market Indices information from leading data sources across these key areas - Labor Rates, Currency, Energy, Country Risk, Trade Flow/Transportation, Port Data, Tariff, Weather and Epidemics

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Report Coverage

  1. Market Maturity and Trends
  2. Regional Market Outlook
  3. Cost and Pricing Analysis
  4. Procurement Best Practices

Production Size

Global Production Size/ Capacity

$96 billion

North America

$37 billion

LATAM

$7 billion

EMEA

$38 billion

Table of Contents

  1. Executive Summary
  2. Global External Audit Services Market
  3. Impact of COVID-19 on External Audit Services
  1. Market Maturity and Trends
  2. Drivers and Constraints
  3. Regional Market Outlook
  4. Porter’s Five Forces Analysis
  1. Cost and Pricing Analysis
  2. Pricing Structure of Audit Firms
  3. Cost Drivers
  1. Procurement Best Practices
  2. Sourcing Best Practices
  3. Pricing Model
  4. Key Performance Indicators(KPIs)
  1. Billing Rate Benchmarking
  2. Average Indicative Audit Billing Rates: United States and UK
  3. Billing Rates: Methodology
  4. Factors Influencing Audit Billing Rates
  1. Negotiation Support Inputs
  2. Negotiation Levers
  3. Cost-saving Opportunities
  1. RFP Support Inputs
  2. Questions for the External Auditor

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In 2019, the global external audit services industry was valued approx. $96 billion, and it is expected to grow at approx. 4–5 percentto reach
$100 billion in 2020.

Market Drivers and Constraints

Drivers
• Statutory audit is a mandatory requirement worldwide
• Emerging regulatory issues and standards are driving demand for high quality audit

Constraints
• Supplier focus on non-audit services
• Commoditized nature of audit services
• Talent retention

Supplier Power:

  • Factors responsible for high supplier power: High auditor switching costs* and absence of substitutes in the industry. Big Four command greater bargaining power owing their greater market share
  • *Note: Auditor switching costs are usually 20–50 percent of the annual audit fee.
  • Factors limiting supplier power: Mature buyer organizations, presence of tier II firms and commoditized nature of services.

Barriers to New Entrants:

  • Barriers to entry: Highly regulated industry. Key entry barriers: capital investment*, intense industry competition, existing buyer–supplier relationships, and experience/reputation of existing suppliers
  • *Note: Capital investment on labor and technology
  • Enablers for new entrants: Mandatory auditor rotation regulation and upcoming economic reforms in the developing economies

Intensity of Rivalry:

  • High Industry Rivalry: Intensity of rivalry is high, due to concentrated nature of the industry, commoditized nature of services and two third market share of Big Four firms
  • Forces acting against intense competition: high auditor switching costs; product differentiation via technology and client service

Threat of Substitutes:

  • Mandatory legal requirement: Audit is a legal requirement for all public companies, government institutions, and privately owned companies by all jurisdictions (and regulators) around the world. Globally, there is no substitute available for external audit

Buying Power:

  • Factors responsible for sufficient buyer power: Mature buyers having considerable audit spend, well-defined quality/service parameters and internal control procedures. Presence of tier II firms also increases buyer power
  • Factors limiting buyer power: High auditor switching costs and Big Four audit firms service quality.

With this purchase you will be subscribed for a 12-month PRO membership to AI Powered Procurement Productivity Suite - Beroe LiVE.Ai™

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