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Accounting Services in Canada Industry Data and Analysis
Accounting services continue to benefit from stable downstream demand and strong recovery in consumer markets following a period of inflationary volatility in 2022. The mandatory nature of niche accounting services, such as bookkeeping and auditing, continues generating consistent demand among clients looking to ensure regulatory compliance and accurate tax filing as mandated by law. Changes in federal tax policy, such as the Digital Services Tax, provided greater client interest in professional accountants to ensure clients are accurately paying what they owe. Despite this, shifts in economic conditions created some instability for accountants in recent years. The inflation spike in 2022 and interest rate hikes that peaked at 5.0% in 2023, per the Bank of Canada, undermined consumer spending and corporate profit, making it difficult for many businesses to afford discretionary accounting services (e.g. consulting) and causing more companies to pivot to in-house alternatives. While conditions have since stabilized, continued uncertainty surrounding the direction of interest rates and inflation is hindering larger rates of growth. Nonetheless, strong business growth and households earning over CA$100,000 provided lucrative revenue niches for accountants. Revenue grew at a CAGR of 2.9% to an estimated $19.8 billion over the past five years, including an estimated 1.5% boost in 2026 alone.
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What's included in this industry analysis
IBISWorld's research coverage on the Accounting Services industry in Canada includes market sizing, forecasting, data and analysis from 2016-2031. The most recent publication was released February 2026.
About this industry
What's this industry report about?
The Accounting Services industry in Canada operates under the NAICS industry code 54121cCA. Accounting companies in Canada audit the accounting records of public and private organizations and attests to compliance with generally accepted accounting practices. Accounting services establishments provide various accounting services, including auditing accounting records, designing accounting systems, preparing financial statements, developing budgets and providing advice on matters related to accounting. Related terms covered in the Accounting Services industry in Canada include auditing, initial public offering (ipo) and international financial reporting standards (ifrs).
What's included in this industry?
Products and services covered in Accounting Services industry in Canada include Auditing and other assurance services, General accounting services and Corporate tax preparation services.
What companies are included in this industry?
Companies covered in the Accounting Services industry in Canada include Deloitte Touche Tohmatsu Limited, KPMG International Limited and PricewaterhouseCoopers LLP.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Accounting Services industry in Canada.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Accounting Services industry in Canada.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Accounting Services industry in Canada.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Accounting Services industry in Canada. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Accounting Services industry in Canada. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Accounting Services industry in Canada. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Accounting Services industry in Canada. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Accounting Services industry in Canada.
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Frequently Asked Questions
What is the market size of the Accounting Services industry in Canada in 2026?
The market size of the Accounting Services industry in Canada is $19.8bn in 2026.
How many businesses are there in the Accounting Services industry in Canada in 2026?
There are 30,427 businesses in the Accounting Services industry in Canada, which has grown at a CAGR of 1.9 % between 2021 and 2026.
How may import tariffs affect the Accounting Services industry in Canada?
The Accounting Services industry in Canada is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Accounting Services industry in Canada?
The Accounting Services industry in Canada is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Accounting Services industry in Canada grown or declined over the past 5 years?
The market size of the Accounting Services industry in Canada has been growing at a CAGR of 2.9 % between 2021 and 2026.
What is the forecast growth of the Accounting Services industry in Canada over the next 5 years?
Over the next five years, the Accounting Services industry in Canada is expected to grow.
What are the biggest companies in the Accounting Services industry in Canada?
The biggest companies operating in the Accounting Services industry in Canada are Deloitte Touche Tohmatsu Limited, KPMG International Limited and PricewaterhouseCoopers LLP
What does the Accounting Services industry in Canada include?
Auditing and other assurance services and Corporate tax preparation services are part of the Accounting Services industry in Canada.
Which companies have the highest market share in the Accounting Services industry in Canada?
The company holding the most market share in the Accounting Services industry in Canada is Deloitte Touche Tohmatsu Limited.
How competitive is the Accounting Services industry in Canada?
The level of competition is high and steady in the Accounting Services industry in Canada.
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