Industry Statistics and Rankings
How does this industry perform in Latvia compared to Europe?
Country Benchmarking
Industry Data Latvia
Ranking are out of 37 European countries for which IBISWorld provides country-level factsheets.
Revenue
#29 In EuropeBusiness
#23 In EuropeEmployees
#29 In EuropeWages
#28 In EuropeEurope’s Accounting and Auditing industry is well-established, with leading nations like the UK and Germany generating significant revenue, partly because of London and Frankfurt being major global financial hubs. Growing enterprise numbers and employment rates have expanded the potential client pool for accounting and auditing firms. Despite the industry providing both procyclical and countercyclical services, volatile economic conditions have caused some operational disruption. Revenue is expected to contract at a compound annual rate of 3% over the five years through 2024 to €225.6 billion, including a forecast dip of 2.6% in 2024.
Enterprises
Number of businesses in 2024
Biggest companies in the Accounting & Auditing in Latvia
| Company | Market Share (%)
2024 | Revenue (€m)
2024 | Profit (€m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Deloitte Touche Tohmatsu Ltd | 1,304.5 | N/A | N/A | |
Ernst & Young Global Ltd | 49,102.4 | N/A | N/A |
Access statistics and analysis on all 2 companies with purchase. View purchase options.
Top Questions Answered in this Report
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Accounting & Auditing industry in Latvia in 2024?
The market size of the Accounting & Auditing industry in Latvia is €329.8m in 2024.
How many businesses are there in the Accounting & Auditing in Latvia industry in 2024?
There are 5,837 businesses in the Accounting & Auditing industry in Latvia, which has grown at a CAGR of 4.0 % between 2019 and 2024.
Has the Accounting & Auditing industry in Latvia grown or declined over the past 5 years?
The market size of the Accounting & Auditing industry in Latvia has been growing at a CAGR of 1.4 % between 2019 and 2024.
What is the forecast growth of the Accounting & Auditing industry in Latvia over the next 5 years?
Over the next five years, the Accounting & Auditing industry in Latvia is expected to grow.
What are the biggest companies in the Accounting & Auditing market in Latvia?
The biggest companies operating in the Accounting & Auditing market in Latvia are Deloitte Touche Tohmatsu Ltd and Ernst & Young Global Ltd
What does the Accounting & Auditing in Latvia include?
Audit services and Financial and management accounting are part of the Accounting & Auditing industry.
Which companies have the highest market share in the Accounting & Auditing in Latvia?
The company holding the most market share in Latvia is Deloitte Touche Tohmatsu Ltd.
How competitive is the Accounting & Auditing industry in Latvia?
The level of competition is low and steady in the Accounting & Auditing industry in Latvia.
Related Industries
This industry is covered in 37 countries
Domestic industries
Competitors
Complementors
Table of Contents
About this industry
Industry definition
The industry comprises a wide range of services including accounting, auditing, bookkeeping and tax consultancy. Companies prepare and examine financial accounts, record commercial transactions for other organisations, prepare personal and business income tax returns, offer tax advisory services, and represent businesses before tax authorities.
Related Terms
BIG FOURAUDITINGMANAGEMENT ACCOUNTINGWhat's included in this industry?
Audit servicesFinancial and management accountingTax servicesBookkeepingPersonal tax servicesCompanies
Deloitte Touche Tohmatsu LtdErnst & Young Global LtdIndustry Code
692 - Accounting, bookkeeping and auditing activities; tax consultancy in Latvia
View up to 2 companies with purchase. View purchase options.
Performance
Revenue Highlights
Trends
- Revenue
- 2024 Revenue Growth
- Revenue Volatility
Employment Highlights
Trends
- Employees
- Employees per Business
- Revenue per Employee
Business Highlights
Trends
- Businesses
- Employees per Business
- Revenue per Business
Profit Highlights
Trends
- Total Profit
- Profit Margin
- Profit per Business
Current Performance
Charts
- Revenue
- Employees
- Business
- Profit
Analysis
What's driving current industry performance in the Accounting & Auditing in Latvia industry?
Outlook
Analysis
What's driving the Accounting & Auditing in Latvia industry outlook?
Volatility
Analysis
What influences volatility in the Accounting & Auditing in Latvia industry?
Charts
- Industry Volatility vs. Revenue Growth Matrix
Life Cycle
Analysis
What determines the industry life cycle stage in the Accounting & Auditing in Latvia industry?
Charts
- Industry Life Cycle Matrix
Products and Markets
Highlights
Trends
- Largest Market
- Product Innovation
Key Takeaways
External audits generate significant revenue. Listed companies are required to publish their financials and have them audited externally, providing solid revenue for accountants and auditors.
Products and Services
Charts
- Products and Services Segmentation
Analysis
How are the Accounting & Auditing in Latvia industry's products and services performing?
Analysis
What are innovations in the Accounting & Auditing in Latvia industry's products and services?
Major Markets
Charts
- Major Market Segmentation
Analysis
What influences demand in the Accounting & Auditing in Latvia industry?
International Trade
Highlights
- Total Imports into Latvia
- Total Exports into Latvia
Heat maps
- Industry Concentration of Imports by Country
- Industry Concentration of Exports by Country
Data Tables
Value and annual change (%) included
- Number of Imports and Exports by European Country (2024)
Competitive Forces
Highlights
Trends
- Concentration
- Competition
- Barriers to Entry
- Substitutes
- Buyer Power
- Supplier Power
Key Takeaways
Increased regulation aims to raise competition. The 2016 EU Audit Reform forces mandatory auditor rotation, but the Big Four can still attract large clients with their use their resources and reputations to cement their market positions.
Supply Chain
Charts
Buyer and supply industries
Geographic Breakdown
Business Locations
Heat maps
- Share of Total Industry Establishments by Region (2024)
Data Tables
- Number of Establishments by Region (2024)
Charts
- Share of Establishments vs. Population of Each Region
Analysis
What regions are businesses in the Accounting & Auditing in Latvia located?
Companies
Data Tables
Top 2 companies by market share:
- Market share (2024)
- Revenue (2024)
- Profit (2024)
- Profit margin (2024)
External Environment
Highlights
Trends
- Regulation & Policy
- Assistance
Key Takeaways
The EU Audit Reform aims to improve competition. Coming into force in 2016, the regulation requires companies to rotate auditors and restricts auditors from providing certain non-audit services to their clients.
External Drivers
Analysis
What demographic and macroeconomic factors impact the Accounting & Auditing in Latvia industry?
Financial Benchmarks
Highlights
Trends
- Profit Margin
- Average Wage
- Largest Cost
Key Takeaways
Firms keep their profit strong despite facing challenging conditions. High wages, technology investment and regulatory standards have driven up costs, pushing firms to elevate their fees to maintain their profitability.
Cost Structure
Charts
- Share of Economy vs. Investment Matrix
-
Industry Cost Structure Benchmarks:
- Marketing
- Depreciation
- Profit
- Purchases
- Wages
- Rent
- Utilities
- Other
Analysis
What trends impact cost in the Accounting & Auditing in Latvia industry?
Key Ratios
Data tables
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
- Revenue per Employee (2014-2029)
- Wages/Revenue (2014-2029)
- Employees per Establishment (2014-2029)
- Average Wage (2014-2029)
Country Benchmarks
European Leaders & Laggards
Data Tables
Top and boottom five countries listed for each:
- Revenue Growth (2024)
- Business Growth (2024)
- Job Growth (2024)
European Country Performance
Data Tables
Rankings available for 37 countries. Statistics ranked include:
- IVA/Revenue (2024)
- Imports/Demand (2024)
- Exports/Revenue (2024)
- Revenue per Employee (2024)
- Wages/Revenue (2024)
- Employees per Establishment (2024)
- Average Wage (2024)
Structural Comparison
Data Tables
Trends in 37 countries benchmarked against trends in Europe
- Concentration
- Competition
- Barriers to Entry
- Buyer Power
- Supplier Power
- Volatility
- Capital Intensity
- Innovation
- Life Cycle
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
Where does IBISWorld source its data?
IBISWorld is a world-leading provider of business information, with reports on 5,000+ industries in Australia, New Zealand, North America, Europe and China. Our expert industry analysts start with official, verified and publicly available sources of data to build an accurate picture of each industry.
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and IBISWorld's proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools.
To learn more about specific data sources used by IBISWorld's analysts globally, including how industry data forecasts are produced, visit our Help Center.
France
Italy
Spain