Accounting & Auditing in France - Market Size, Industry Analysis, Trends and Forecasts (2025-2029)

Accounting & Auditing in France industry analysis

Accounting and audit firms in France benefit from a steady demand for services as businesses from all sectors of the economy seek their expertise to remain compliant with the increasingly complex financial environment and the requirement for many French businesses to have their financial accounts audited. The Big Four accounting firms (EY, Deloitte, PwC and KPMG) boast a solid share of the market and audit the majority of France’s largest businesses, while Mazars, BDO France and Grant Thornton are also well-established and focus on mid-sized businesses. Revenue is expected to climb at a compound annual rate of 1.7% over the five years through 2025, including a 1.4% hike in 2025 to €25.5 billion.
Wider economic conditions impact demand for accounting and auditing services, with a positive market climate driving business activity and corporate transactions. Meanwhile, demand for countercyclical services, including insolvency work and advice on cost-cutting and restructuring, support revenue during periods of economic uncertainty. Accounting firms face stiff competition not just from each other but also from software solutions that enable individuals and small businesses to manage their own finances. The EU Statutory Audit Reform, in place since June 2016, has introduced mandatory audit firm rotation and restricted non-audit services, aiming to enhance competition. Heightened economic uncertainty amid the COVID-19 pandemic and severe inflationary pressures weighed on business spending and dealmaking, hindering revenue. Improving economic conditions thanks to lower inflation and interest rates support business expansionary activities, IPOs and mergers and acquisitions, driving revenue growth in 2024 and into 2025.
Revenue is forecast to expand at a compound annual rate of 3.1% over the five years through 2030 to reach €29.7 billion. Anticipated growth in business sentiment and corporate transactions will aid demand for accounting and auditing services. An expanding number of businesses in France will expand the client base for accounting and auditing firms. Growing regulatory complexities and emphasis on sustainability will push businesses to seek expert guidance from accountants. Lucrative opportunities will drive some firms to expand their consulting operations, hiking their non-audit revenue share. Firms will also increasingly invest in integrating technology like AI and cloud-based solutions to improve efficiency and offer more valuable insights, enhancing client services.

Trends and Insights

• The EU Audit Reform mandates auditor rotation to boost audit quality. This 2016 reform has fragmented the market, promoting competition and increasing opportunities for mid-tier and smaller firms by disrupting the Big Four’s dominance.
• 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.
• 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.