The "The Accounting Sector in South Africa 2023" report has been added to ResearchAndMarkets.com's offering.
This report on the accounting sector in South Africa, including knowledge management, provides a comprehensive overview of the state and size of the sector, registered, employed and graduate numbers, regulations, trends and key issues, as well as information on the major players and developments.
There are 18 company profiles including the Auditor-General and notable firms such as EY, Deloitte, PwC, KPMG, Mazars, BDO, Nolands and SNG Grant Thornton.
The Accounting Sector in South Africa
The accounting sector is the guarantor of financial reporting standards and performs a critical function in the South African economy. The industry continues to be affected by recent accounting scandals which have lowered trust in the profession.
While recent regulations aim to bolster efforts to hold auditors to account, there is concern they may make the profession unattractive to graduates who may fear harsh consequences if they are linked to corporate scandals. This, and emigration of professionals, has led to concern over a shortage of auditors.
Transformation, gender diversity and the continuing decline in quality of accounting in the public sector are ongoing concerns. Regulatory changes that are set to disrupt the industry include the mandatory rotation of auditors, which is due to take effect on 1 April 2023.
Questions have for some years been raised over the big firms' ability to conduct independent audits when they depend heavily on offering advisory services to these same clients.
The Independent Regulatory Board for Auditors recently said it was considering forcing audit companies to split their structure and functions into audit-only and advisory services-only. Regulations already limit the provision of certain non-audit services to audit clients.
Key trends include the marked decline in the number of auditors and chartered accountants in recent years either through emigration, remote work or dropping out of the profession; the declining pass rates of candidates sitting the board exams; and the increasing opportunity offered for business restructuring professionals, particularly in business rescue procedures.
- Auditor-General South Africa
- Baker Tilly Greenwoods Chartered Accountants
- BDO South Africa Inc
- Crowe in Southern Africa (Pty) Ltd
- Deloitte South Africa
- Ernst and Young Inc
- Exceed (Cape Town) Inc
- KPMG Inc
- LDP Chartered Accountants and Auditors Inc
- Moore South Africa (Pty) Ltd
- Nolands Inc
- PKF South Africa Inc
- PricewaterhouseCoopers Inc
- RSM South Africa Inc
- SekelaXabiso CA Inc
- SizweNtsalubaGobodo Grant Thornton Inc
- Theron du Plessis Durbanville Inc
Key Topics Covered:
2. DESCRIPTION OF THE INDUSTRY
2.1. Industry Value Chain
2.2. Geographic Position
2.3. Size of the Industry
3.1. State of the Industry
3.2. Key Trends
3.3. Key Issues
3.4. Notable Players
3.5. Corporate Actions
3.7. Enterprise Development and Social Development
6. INFLUENCING FACTORS
6.1. Economic Environment
6.3. Environmental Issues
6.4. Technology, R&D, Innovation
6.5. Input Costs
7. COMPETITIVE ENVIRONMENT
7.2. Ownership Structure of the Industry
7.3. Barriers to Entry
8. SWOT ANALYSIS
10. INDUSTRY ASSOCIATIONS
For more information about this report visit https://www.researchandmarkets.com/r/tglc9h
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