Forensic Accounting Market Report 2025

This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The forensic accounting market size has grown strongly in recent years. It will grow from $5.81 billion in 2024 to $6.29 billion in 2025 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to increasing white-collar crimes, stringent regulatory compliance, corporate governance concerns, globalization of businesses, litigation, and dispute resolution.

The forensic accounting market size is expected to see strong growth in the next few years. It will grow to $8.66 billion in 2029 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to rising cybersecurity threats, increased focus on fraud prevention, expanding role in risk management, complex financial transactions, growing regulatory scrutiny. Major trends in the forecast period include integration of machine learning for anomaly detection, specialization in niche areas, enhanced use of data analytics in investigations, emphasis on continuous professional development, integration of predictive analytics for risk assessment.

The rising occurrences of fraud and cybercrimes in financial domains are anticipated to be primary drivers propelling the expansion of the forensic accounting market in the foreseeable future. Financial fraud encompasses deceptive activities manipulating financial records, transactions, or information for illicit gains, leading to monetary loss or misleading stakeholders through actions such as misrepresentation or embezzlement. This surge in fraudulent cases heightens the demand for specialized forensic accounting services, triggering growth in the forensic accounting market as organizations seek expertise in identifying, investigating, and preventing fraudulent activities. As reported in May 2023 by UK Finance, an association for the UK banking sector, authorized fraud losses due to financial fraud escalated to £485.2 million ($616 million), with a total of 207,372 cases in 2022, marking a 6% increase compared to 2021. Hence, the uptick in fraud and finance-related cybercrimes is steering the forensic accounting market.

The increasing demand for work-from-home arrangements is expected to drive the growth of the forensic accounting market in the coming years. Work-from-home (WFH) refers to a modern work setup where employees carry out their job duties remotely, usually from home rather than an office. Remote work can add complexity to financial transactions, particularly for multinational companies and those with varied operations. This added complexity can result in accounting discrepancies, making forensic accounting expertise crucial for identifying financial irregularities and ensuring regulatory compliance. For example, the Office for National Statistics reported that about 38% of working adults in Great Britain worked from home in 2022, with this figure rising to approximately 40% in 2023. Thus, the growing demand for remote work is driving the expansion of the forensic accounting market.

Key companies within the forensic accounting sector are prioritizing the integration of data analytics and artificial intelligence (AI) into forensic accounting practices, focusing on hyper-automated analytics platforms. These platforms aim to scrutinize financial data, detect irregularities, and unveil fraudulent activities, significantly enhancing investigative capabilities and providing pivotal insights for legal proceedings. An example is iAcuity Fintech Pvt. Ltd., an India-based fintech company that launched Fund Trail in March 2023, recognized as the world's first hyper-automated analytics platform. Fund Trail employs AI and big data to expedite investigations and monitor financial resource movements, assisting forensic auditors, law enforcement agencies, tax authorities, regulators, and financial institutions in conducting successful investigations. It provides valuable insights and aids in pinpointing anomalies and suspicious activities crucial for probing frauds, including embezzlement, loan fraud, financing of terrorism, money laundering, tax fraud, cybercrimes, bribery, corruption, and Ponzi schemes.

In July 2023, B. Riley Financial Inc., a prominent US-based provider of business and financial solutions, finalized the undisclosed acquisition of Crawford & Winiarski. This strategic move empowers B. Riley Financial Inc. with enhanced expertise garnered from Crawford & Winiarski, renowned for its proficiency in forensic accounting, consulting services, and deep insights into accounting, financial, and economic analysis. The acquisition is poised to bolster B. Riley Financial Inc.'s financial consulting division, leveraging Crawford & Winiarski's substantial knowledge in forensic accounting and consulting services within the industry. Crawford & Winiarski stands as a distinguished US-based firm specializing in forensic accounting and consulting.

Major companies operating in the forensic accounting market report are Deloitte Touche Tohmatsu Limited, PricewaterhouseCoopers International Limited, Ernst & Young Global Limited, KPMG International Limited, BDO International Ltd., Grant Thornton Bharat LLP, Baker Tilly US LLP, FTI Consulting Inc., Crowe Horwath LLP (Crowe), Alvarez & Marsal Holdings LLC., Marcum Bernstein & Pinchuk LLP, CohnReznick LLP, Armanino LLP, Friedman LLP, Cellebrite DI Ltd., EisnerAmper LLP, Citrin Cooperman & Company LLP, Matson Driscoll & Damico LLP, CaseWare International Inc., Galvanize Inc., Baltic Assist, RGL Forensics, Weaver & Tidwell LLP, Farahat & Co., Arbutus Software Inc., Sama Audit Systems & Software Pvt Ltd., Cygna Labs Corporation, Passware Inc., Fulcrum Management Consultants LLP, Fox Forensic Accounting LLC.

North America was the largest region in the forensic accounting market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the forensic accounting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the forensic accounting market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The forensic accounting market consists of revenues earned by entities by providing financial statement analysis, asset tracking, and fraud examination and investigation. The market value includes the value of related goods sold by the service provider or included within the service offering. The forensic accounting market also includes sales of forensic tools or software, auditing software, and accounting software. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Forensic accounting is a specialized field within accounting that focuses on investigating financial records, transactions, and data to detect fraud, analyze irregularities, and provide evidence for legal proceedings and dispute resolution. This discipline combines accounting expertise with investigative skills to uncover instances of financial misconduct and to support legal actions.

The main components of forensic accounting are solutions and services. Solutions refer to precise and integrated resolutions for addressing technological challenges, encompassing software, hardware, and strategic methodologies. These solutions are designed to investigate financial inconsistencies and track illegal transactions. They can be deployed in various models, such as on-premises, cloud-based, and tailored for small and medium enterprises (SMEs). Forensic accounting solutions find application across various industries, including banking, financial services, and insurance (BFSI), law enforcement agencies, government and public sector entities, accounting firms, and other verticals.

The forensic accounting market research report is one of a series of new reports that provides forensic accounting market statistics, including forensic accounting industry global market size, regional shares, competitors with a forensic accounting market share, detailed forensic accounting market segments, market trends and opportunities, and any further data you may need to thrive in the forensic accounting industry. This forensic accounting market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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