J'achète l'étude complète
Synthèse
The global accounting services market continued to grow, with a compound annual growth rate (CAGR) of 5.7%, from $460.2 billion to $574.4 billion. Despite a brief slowdown during the initial phases of the Covid-19 pandemic in March, April and May 2020, the sector proved resilient and even saw its sales increase by 10% in June 2020 compared with the previous year. This ability to adapt during the crisis could be partly attributed to the transition to teleworking and the high demand for accounting services to manage government aid, short-time working arrangements and other financial complexities generated by the pandemic.
The French accounting market is also showing robust growth, with a 19.7% increase in revenues for accounting firms. However, legislative changes, such as the PACTE law, have introduced both challenges by raising audit thresholds and opportunities by broadening the range of services accountants can offer. The sector continues to be shaped by technological advances, changing regulations and strategic mergers and acquisitions aimed at service diversification and territorial expansion
Demand dynamics in the French public accounting market
Demand for chartered accountancy services in France has experienced robust and steady growth over the past few years, marked by an increase in sales of around 20%, from €15-20 billion to over €20 billion. This growth trajectory reflects a landscape where increasingly complex regulatory requirements, such as the introduction of the prélèvement à la source (withholding tax), the VAT anti-fraud law, among others, are driving companies to seek expert advice to navigate these changes. In addition, the PACTE law, while shaking up the sector with higher thresholds for statutory audits, has potentially reduced revenue streams from auditing; nevertheless, it has also broadened the scope of services accountants can offer, potentially offsetting any loss of income.
Accounting firms operate in a competitive environment, vying for market share based on their specialization and geographical presence. The sector is segmented into large firms such as KPMG and Deloitte, groups such as In Extenso, associations such as CER France, and numerous independent firms. This landscape is in a state of flux, with firms diversifying their competencies, merging or acquiring consulting and asset management entities to strengthen their market position. Key client figures show that a significant number - around 71% - of companies and more than half of associations use the services of chartered accountants.
Small businesses, particularly those with fewer than 50 employees, mainly outsource their accounting needs because of the limited resources available to maintain an in-house accounting department. The increase in business start-ups, with a notable peak in micro-entrepreneurs of around 73% and an increase in sole proprietorships of around 62%, represents a substantial opportunity for chartered accountants to capture a new client base. However, this positive trend is slightly mitigated by the decline in business failures, which means that fewer companies in difficulty require professional accounting assistance.
Finally, technological innovations are redefining customer expectations and the nature of competition in the sector. The march towards automation and the profound implications of artificial intelligence on traditional accounting tasks herald a future where adaptation and investment in technological capabilities are essential to the growth and sustainability of this profession
The French public accounting market boasts a diverse range of firms, each bringing a unique set of services, expertise and geographical presence. Here, we take a closer look at the main entities that have had a significant impact on the sector.
- KPMG: KPMG is one of the large firms that has established a formidable presence in the market. It is one of the "Big Four" and offers a wide range of services beyond traditional accounting, including consulting services.
- Deloitte: Another member of the Big Four, Deloitte is renowned for its extensive service offering, encompassing auditing, consulting, financial advisory and risk management. Its global presence and innovative approach make it a top choice for companies of all sizes.
- EY (Ernst & Young): EY is a global leader in insurance, tax, transaction and advisory services. Strongly committed to building a better world of work, the company draws on its global network to deliver high-quality services.
- PwC (PricewaterhouseCoopers): PwC is synonymous with trust and quality in the industry. Its expertise in auditing and assurance, consulting and tax services has earned it a large and loyal client base.
- Mazars: An international, integrated and independent organization, Mazars specializes in audit, accounting, tax, legal and advisory services. It prides itself on providing personalized services to a wide range of clients, from SMEs to large corporations.
- Fiducial: A major player in the market, Fiducial offers a unique solution for small businesses, providing not only accounting and tax services, but also legal, financial and human resources services.
- Cerfrance: A cooperative network, Cerfrance brings together a wide range of skills to support its customers in accounting, legal, tax and environmental matters. Its associative nature gives it a strong regional presence and a commitment to supporting local businesses.
- ATH, France Défi, Eurus, Fidunion, Walter France: These are groups of independent companies that have come together to pool their resources. They offer the strength of a large company with the personalized approach of smaller operations. These alliances enable them to cover larger geographical areas and offer a wide range of specialized services.
Each of these players brings its own strengths to the table, whether it's the broad reach and extensive service portfolios of the Big Four, or the regional approach of law firms
à la compréhension de ce marché
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- Nombre de pages : 30 pages
- Format : Version digitale et PDF
- Dernière mise à jour : 05/03/2024
Sommaire et extraits
1 Market overview
1.1 Presentation
The chartered accountant is an accounting professional whose profession is governed by the Ordre des experts-comptables. They keep the accounts of commercial and civil enterprises, as well as non-profit associations. To avoid conflicts of interest, the chartered accountant may not be an employee of any of the structures he or she supports. In France, the profession is regulated by Ordinance no. 45-2138 of September 19, 1945, and Decree no. 2012-432 of March 30, 2012. Chartered accountants' missions are subject to a monopoly, and all firms must be registered with the Order in order to practice.
In France, the sector is experiencing significant and steady growth. It is estimated that sales of accounting services will increase by 34.5% between 2015 and 2023. A number of factors are contributing to the sector's growth, not least the changing regulatory framework with the arrival of the prélèvement à la source (withholding tax) in 2019, the introduction of the VAT anti-fraud law, and so on. Customers want support in understanding these changing regulations.
However, the Pacte law, has shaken up the sector by raising statutory audit thresholds and resulting in a loss of potential revenue for firms' statutory audit activities. Other measures, aimed at broadening the scope of expertise of chartered accountants could, however, counterbalance the raising of thresholds.
Chartered accountants are often in competition with each other, depending on their specialization and location. There are large firms (EY, Deloitte, KPMG, etc.), groups (In Extenso), associations (CER France) and independent firms. Today, we are witnessing a transformation of the profession, with several reforms concerning the clientele of audit and chartered accountancy firms in particular. As a result, players are seeking to diversify their range of skills by teaming up with players in the consulting and wealth management sectors.
1.2 The global accounting services market
The profession of chartered accountant is governed by standards specific to each country (***) in Canada. At the very least, you need to be familiar with the legislation in force in the country where you intend to work.
Despite the development of IFRS standards, the profession of chartered accountant is still relatively ...
1.3 A growing French market
NAF code **.**z covers companies engaged in accounting activities. These activities come under the heading of chartered accountancy and are carried out by chartered accountancy firms. This NAF code includes the following activities:
recording commercial transactions for companies or others ; drawing up or auditing financial accounts; examining accounts and certifying their ...
1.4 The upheaval brought about by the PACTE Act
The Pacte Act of May **, **** has led to upheaval in the public accounting sector, and more specifically in the statutory auditing business in France, due to increases in audit thresholds. Prior to this law, compulsory audit thresholds in France were much lower than in the rest of Europe. SARLs exceeding two ...
1.5 The impact of Covid-19 on public accounting activities
The accounting business was not particularly affected by the Covid-** crisis, and proved to be highly resilient.
Thus, we note a slight slowdown compared with **** in March, April and May ****, with a difference in sales that reached **.*% less in April **** compared with ****. However, June saw a notable catch-up, with sales up ...
2 Demand analysis
2.1 The main clients of chartered accountants
Chartered accountants' main clients are associations and businesses. According to the Ordre des experts-comptables, **% of companies and **% of associations will use a chartered accountant in ****.
Rate of recourse to a chartered accountant by structure size France, ****, in percent Source: ****
Companies with between * and ** employees are the most likely to use a ...
2.2 Demand drivers
On the business side, the number of start-ups and insolvencies is a key factor in the growth of the chartered accountancy business.
Since ****, the number of businesses has been rising steadily in France. In ****, **% more microentrepreneurs are starting up than in ****. Sole proprietorships, meanwhile, saw their number of start-ups rise by ...
2.3 Regulatory changes encourage the use of chartered accountants
Regulatory changes are creating a favorable environment for chartered accountants. Indeed, when laws and obligations change, companies are more likely to call on accounting professionals to support them.
For example, when the withholding tax was introduced, a large number of business owners turned to a chartered accountant to help them prepare ...
2.4 Reasons for calling in a chartered accountant
The main reasons for using the services of a chartered accountant are to certify accounts (***). In contrast, only **% of those surveyed use a chartered accountant for business start-ups, and entrepreneurs are not the majority of firms' clients.
**% of those surveyed also use a firm to help manage administrative complexity.
Main ...
3 Market structure
3.1 Value chain
Every year, the accounting profession publishes a ranking of public accounting and statutory audit firms. This ranking only takes into account firms registered with the Ordre des experts-comptables (***) and the Compagnie nationale des commissaires aux comptes.
The top * operators in France in terms of sales are KPMG, EY, Cerfrance, PwC and ...
3.2 The French accounting industry
According to the Conseil Supérieur de l'Ordre des Experts-Comptables, there are **,*** chartered accountants in France today, of whom **,*** are men and *,*** are women. They are supported by more than ***,*** associates, and *,*** trainee chartered accountants.
The accountancy sector is not limited to the profession of chartered accountant, and relies on a ...
3.3 The chartered accountant diploma drives workforce growth
The chartered accountant diploma is an essential prerequisite for practicing the profession. It is relatively uncertain, but every year more than *,*** new chartered accountants join the sector.
In ****, *,*** people graduated from the DEC, a record since ****. The profession of chartered accountant therefore remains as attractive as ever, and the sector owes ...
3.4 Main mergers and acquisitions since 2023
Source: ****
Many of the mergers and acquisitions carried out by chartered accountancy firms are aimed at developing their areas of expertise, and in particularinter-professional relations with asset management. Indeed, industry players are seeking to diversify their range of skills to better serve their customers and be less dependent on chartered accountancy. ...
4 Offer analysis
4.1 Services offered by accounting firms
Firm offerings can be broken down into three types of service:[***]
Public accounting in the strict sense; Consulting; Auditing.
Within the scope ofpublic accounting, firms offer services in bookkeeping and auditing, presentation of annual accounts, preparation and monitoring of management indicators, and taxation. They also prepare pay slips, social security returns, ...
4.2 Prices for expertise services
Fees for chartered accountancy services vary not only according to the size of the client, but also according to the region of France in which the service takes place, and the type of service provider.
The accountant's fees must reflect the value of the service rendered, but the amount is not ...
4.3 The development of digital tools
Many accounting firms are beginning their digital transformation by offering IT tools to their clients. Digital technology is becoming a major asset for automating processes, and Covid-** is set to accelerate this transition.
According to Cegid, (***), by ****, **% of firms had already launched their digital transformation strategy. However, only *% of firms had ...
4.4 Supply at risk of shrinking due to recruitment difficulties
Proportion of difficult hires among accounting employees France, ****, in Source: ****
The increasing proportion of difficult hires among accounting employees in France, rising from **% in **** to **% in ****, indicates growing recruitment challenges for this sector. This trend can be attributed to the growing complexity of accounting standards, regulatory changes and increased demand for ...
5 Regulations
5.1 Regulations governing the profession of chartered accountant
Ordinance no. **-**** of September **, ****, establishing the Order of Chartered Accountants and regulating the title and profession of Chartered Accountant, defines the legal rules governing the practice of this profession.
This decree has several effects, including
the creation of the Ordre des Experts-Comptables; the definition of the profession of chartered accountant ...
5.2 New regulations
Loi Pacte ****
The Loi Pacte has raised statutory audit thresholds, inducing a loss of business for chartered accountants. Indeed, many companies are no longer obliged to appoint a statutory auditor and will therefore no longer call on their services. Companies exceeding two of the following three thresholds must now appoint a ...
5.3 The collective agreement for chartered accountants
The collective bargaining agreement for chartered accountants defines a number of rules that firms must follow as a minimum. For example, the minimum salaries according to the employee's hierarchical coefficient are as follows:
Source: ****
If the employer fails to comply with these minimum wages, the employee has * years in which to ...
6 Positioning the players
6.1 Segmentation
- Deloitte France
- EY Ernst & Young France
- Mazars Forvis Groupe
- Fiducial France
- ATH Association Technique Armonisation
- France Defi
- Eurus
- Fidunion (PrimeGlobal)
- CERFRANCE
- PwC Audit
- KPMG Expertise et Conseil
- BDO
- Accenture
- Baker Tilly France
- Cabex Corporate Finance
- In Extenso
- ABCE Expertise Comptable
- Ellipce
- Keobiz
- Indy
- Aplitec
- Aplitec
- le gr
- Diagoris
- TGS France
- Orcom Expertise comptable
- Clémentine comptabilité
- Sadec Akelys
- Altex conseil et expertise - Apicap
- RSM
- Emargence
- Cogep
Liste des graphiques
- Évolution du marché mondial des services comptables
- Évolution du chiffre d'affaires des activités comptables
- Entreprises et effectifs salariés des activités comptables (NAF 69.20Z)
- Nombre de diplômés du DEC
- Indice de chiffre d'affaires des activités comptables
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Dernières actualités
Experts-comptables : le cabinet Emargence se renforce - 28/03/2024
- Nombre de salariés : 100
- Nombre d'associés : 10
- Chiffre d'affaires : 12,5 millions d'euros
EY France ne renonce pas à la scission entre audit et conseil - 07/03/2024
- La branche américaine d'EY représente 40 % de son chiffre d'affaires et de son pouvoir au niveau mondial
- Le coût de l'opération de scission annulée est estimé à environ 600 millions de dollars dans le monde
- EY France a conservé environ 50% de part de marché malgré de récentes pertes de mandats
- Le chiffre d'affaires d'EY France a augmenté d'un quart pour atteindre 1,5 milliard de dollars (1,4 milliard d'euros)
Baker Tilly recrute 300 personnes cette année - 29/02/2024
- Baker Tilly a embauché 300 nouveaux employés l'an dernier, et envisage d'en embaucher autant en 2024.
- Baker Tilly vise à atteindre 2.300 employés dans son réseau de 60 bureaux en France.
- Baker Tilly a renforcé son pôle RSE en 2023 par l'acquisition de l'éditeur de logiciels Act21.
- L'entreprise a réalisé quatre opérations de croissance externe l'année dernière.
- En 2023, le chiffre d'affaires de Baker Tilly s'élevait à 188 millions d'euros, en hausse de 17 %
- L'entreprise ambitionne de doubler son chiffre d'affaires pour atteindre 400 millions d'euros en 2030.
- L'expertise comptable ne représente plus que 50 % de l'activité de l'entreprise, le restant étant constitué par l'audit et le conseil.
Expertise comptable : CAP 21 dans le giron de RSM - 22/02/2024
- - Le groupe RSM est le sixième réseau mondial d'audit, d'expertise comptable et de conseil présent dans 120 pays.
- - Le cabinet CAP 21, qui a récemment rejoint RSM, compte 17 personnes - dont cinq experts-comptables et un gestionnaire de patrimoine - et accompagne environ 300 dirigeants.
- - Le chiffre d'affaires de CAP 21 est de 2 millions d'euros.
- - CAP 21 est basé à côté de Strasbourg, en Allemagne.
- - RSM France a un chiffre d'affaires de 155 millions d'euros pour 1.350 employés .
EY reçoit la facture de sa scission annulée : 600 millions de dollars - 12/02/2024
- Projet de scission avorté. La préparation de cette opération baptisée a coûté 600 millions de dollars
- Le cabinet d'audit et de conseil emploi 312.000 personnesdans le monde
- Les activités opérationnelles mondiales d'EY ont généré 6,4 milliards de dollars de commissions auprès des sociétés membres nationales en 2023, soit environ 13 % des 49,4 milliards de revenus générés l'an dernier par les différentes entités du cabinet.
Le cabinet d'expertise-comptable gardois Altex acquiert Apicap - 23/01/2024
- Le groupe financier Altex a acquis le parisien Apicap fin 2023 pour un montant de 3 millions d'euros.
- Apicap emploie 20 collaborateurs et gère 400 millions d'euros d'actifs.
- Le groupe Altex est constitué d'une dizaine de cabinets d'expertise-comptable, employant 150 professionnels.
- Altex a réalisé trois acquisitions de cabinets en Ile-de-France au cours des trois dernières années et une quatrième est en cours de négociation.
- Le groupe détient des participations dans une dizaine d'entreprises PME régionales.
- La PME Altex, fondée il y a dix ans, a réalisé un chiffre d'affaires de 66 millions d'euros en 2023, en croissance de 30 % en un an
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