Information system audit services market includes information system audit which involves the assessment of the controls relevant to the IT infrastructure within an organization. Information system audits may be performed as part of the internal control assessment during internal or external audit.
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The global information system audit services market was valued at $25 billion in 2017. Adoption of new technologies such as analytics, artificial intelligence in Information System has enabled the auditor to examine and analyze large volumes of structured and unstructured data related to a company’s financial information. This capability allows auditors to test 100 percent of a company’s transactions instead of only a sample of the population. Major accounting firms have asserted that the use of these tools will enhance the audit by automating time-consuming tasks which are more manual and rote in nature.
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The USA was the largest country in the market, accounting for three-tenth of the global information system audit services market share. This was mainly due to the presence of a large number 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 PWC, Deloitte, Ernst & Young, and KPMG.
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