Australia Accounting Services Market Research Report: Forecast (2025-2030)

Market Insights & Analysis: Australia Accounting Services Market (2025-30):

The Australia Accounting Services Market size was valued at around USD 20.5 billion in 2024 and is projected to reach USD 23.24 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 2.04% during the forecast period, i.e., 2025-30. The Australia Accounting Services Market growth is due to an increase in the need for automated accounting procedures, digitalization of sectors, advancement in technologies, outsourcing of bookkeeping, increasing e-commerce, enlarging end-user industries, government inclination towards sustainable alternatives, and others.

The digitalization across multiple industries, including accounting, is emerging, leading to the transition of traditional offline accounting services to online. Digitalization, paired with the regulatory norms, is surging the market exponentially, as it mandates the bookkeeping, taxation, and others through online services, managing and organizing the records and details in an online mode is more convenient and effective, increasing the longevity of the data. It also enables the integration of advances like robotic automation process, extended detection and response system, etc., thus enhancing the operational efficiency of the accounting services in the country.

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Moreover, the integration of advances such as cloud services across Australia is increasing due to the rising remote working culture, penetration of smartphones & 5G internet services, etc. The cloud services, along with the growing inclination of consumers toward a subscription-based services model they are compatible across several servers and cost-effective because of the reduced cost needed for the upgradation of the old IT infrastructure, and other miscellaneous costs. Numerous service providers, such as Sage Business Cloud Accounting, Reckon One, Zoho Books, etc., are offering these services to promote the growth and reach of their accounting services in Australia. 

Therefore, the strict government regulations, support from authorities, technological advances, digitalization, and increasing internet penetration are driving the demand for accounting services in Australia.

Australia Accounting Services Market Driver:

Stringent ESG (Environmental, Social, and Governance) Regulations – The Australian Accounting Services Industry is experiencing a surge in growth due to the rise in stringent regulations, acts, standards, etc., for attaining the sustainability goals. The Australian government is mandating accounting among the large corporations and firms under the Treasury Law Amendment Act issued in 2024, effective from 2025. Under this act, the enterprises need to keep their record of carbon footprints, emissions, investments in eco-friendly goods, etc., in their annual financial reports. This law in initiated to attain the carbon neutrality vision plan, lower emissions, and other sustainable initiatives.  

The Australian authorities, like the Australian Accounting Standards Board (AASB), the Australian Taxation Office (ATO), and the Australian Securities and Investments Commission (ASIC), are monitoring the financial reports, taxation, audits, etc., and the implementation of Treasury Law Amendment Act 2024, under the Environmental, Social, and Governance (ESG) principles. In case of violation of these goals, acts, and principles, a large penalty is imposed on the violator. Thus, the stringent sustainable initiatives of the government authorities and their close monitoring of their compliance have forced the enterprises, primarily large firms, to incorporate the accounting services in their systems, hence increasing the size & volume of the industry.  

Australia Accounting Services Market Challenge:

Increasing Cases of Cyberattacks & Data Breaches – The evolving accounting industry of Australia, from online platforms, is raising the cyber footprints, creating an opening for hackers to access personal and sensitive data of Australians for phishing, ransom, etc. For the enhanced and better functionality of the accounting services, various advancements and upgradations like cloud, AI, ML, etc., are integrated into the system. Their integration increases the traces of cyber footprints, and sometimes, while training the models, the crucial data is leaked because of the malfunctioning of the services. As per the Office of the Australian Information Commissioner, the reported cases of cyberattacks accounted for nearly 1,113, impacting over 11 million Australians in 2024.

Thus, the increasing adoption of technological advances and automated processes for maintaining records in accounting services is one of the key reasons behind the ongoing cyberattacks and data breaches, hence negatively impacting the growth.      

Australia Accounting Services Market Trend:

Automation Solutions for Accounting Gaining Popularity – The advancements in account-keeping services have surged due to the need for an automated robotic procedure of managing the accounts, smart decision making, real-time monitoring, low rate of error, reduced human workload, etc. The integration of automation solutions like AI-accounting service platforms, robotic process automation, cloud-based servers, and others, into the market is transforming traditional accounting methodologies and techniques in Australia. The adoption of these technological advances streamlines the repetitive tasks of taxation, audit making, bookkeeping, financial reports, etc. It minimizes the error rate, which was relatively high in the traditional method, and reduces the workload of the workforce; thus, it is preferred over the conventional.

Moreover, several accounting service providers, such as MYOB, Xero, QuickBooks, Sage, and others, are adopting these advances in their services and offering automated accounting and bookkeeping services and platforms with optimized management and frequent insights & suggestions, to further enhance the efficiency of the automated accounting. Thus, such advancements and integration in the firms and enterprises to keep and maintain an organized record of the inventory, taxation invoices, budget report, and others, increases the demand for cost-effective, reliable, automated accounting services in the nation.

Australia Accounting Services Market (2025-30): Segmentation Analysis

The Australia Accounting Services Market study of MarkNtel Advisors evaluates & highlights the major trends and influencing factors in each segment. It includes predictions for the period 2025–2030 at the country level. Based on the analysis, the market has been further classified as:

Based on Service Type:

• Audit & Assurance
• Tax Advisory & Compliance
• Bookkeeping & Payroll Services
• Management Consulting & Advisory
• Forensic Accounting
• Business Valuation
• Insolvency & Restructuring
• Others (e.g., Sustainability Reporting, Digital Transformation Advisory)

Based on service type, the audit & assurance accounting services hold the largest market share of around 41%. This high market share is due to the compulsion of maintaining the financial record & annual reports for insightful analysis of the investment & expenditure across several industries, stringent ESG regulation, etc. The audit & assurance accounting services are increasingly integrated into the financial & advisory, and large-scale firms. It is because of the growing need for insights into the business, managing records of the expenses & earnings, and others. The audits and assurance aid in maintaining the systematic record; thus, navigating through them in times of need conserves time.

Additionally, the Australian government aims to lower carbon emissions and footprints through the imposition of several regulations and acts, and the close monitoring by the AASB, ATO, and ASIC of the annual audits of the firms has pushed them to integrate accounting services. Thus, the increasing need for consulting, taxation advice, business insights, finance, and others, along with the government norms, has led the firms to maintain the audits and assurance, hence facilitating their market size in Australia among the accounting services.

Based on Delivery Channel:

• Offline (In-Person/Onsite)
• Online (Cloud-Based/Remote)
• Hybrid

The online (cloud-based/remote) accounting services hold the largest market share of about 43%. This is due to the accessibility, need for automated record keeping, adaptation of advances like AI, versatility, cost-effectiveness, extended durability, environmental safety, increasing cybersecurity solutions, etc. The demand for automated account keeping and maintenance of records is increasing for effective and smooth operations like bookkeeping, tax filing, reporting, and various other procedures. This reduces workload and the human errors incurred during the manual accounting are less while managing it online mode. In the offline mode of accounting, a lot of paper is needed, eventually raising the rate of deforestation, which is eliminated in the online mode, making it eco-friendly and long-lasting.

Moreover, the advances like AI, ML, cloud, and other edge-cutting advances, and their integration into the accounting services, not only manage and navigate the accounts efficiently, but also correlate them with real-time data and offer recommendations and suggestions. It can also detect fraud and threats looming on the servers, and block them using its smart intelligence. Thus, due to the smart intelligence and the growing technological advances, online accounting services are preferred over others in the end-user industries, hence increasing their demand in the country.

Australia Accounting Services Industry Recent Development:

• 2024: PwC Australia launched “Regulatory Pathfinder,” a generative AI-powered tool designed to streamline regulatory compliance for businesses. The tool automates the process of compiling, tracking, and mapping regulatory obligations, enabling accounting firms and clients to manage compliance more efficiently in Australia’s evolving regulatory landscape.
• 2024: KPMG Australia acquired Chartertech to strengthen its accounting services for mid-market clients. The acquisition enhanced KPMG’s capabilities in financial planning, forecasting, and analytics, enabling more automated, tech-driven accounting solutions tailored to Australia’s evolving business and compliance environment.

Gain a Competitive Edge with Our Australia Accounting Services Market Report

1. Australia Accounting Services Market by MarkNtel Advisors provides a detailed & thorough analysis of market size & share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
2. This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
3. Australia Accounting Services Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.

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