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Procurement Market Intelligence Report

Audit Services
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Audit Services?

What is the average price of Audit Services?

This procurement report includes pricing information to help you purchase Audit Services. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Audit Services been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Audit Services yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Audit Services?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Audit Services with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase Audit Services?

The level of market share concentration has been moderate in the three years to 2019, whereby the top four companies account for 30.0% to 50.0% of total market revenue. ProcurementIQ estimates that there are about 94,000 companies offering audit services in the United States, and together they employ about 550,000... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Regulation

How do you manage regulatory change?

How has increased regulation changed your pricing and how will it do so over the life of our proposed agreement?

What ongoing training procedures do you provide for staff?

By what methods do you stay informed about ongoing regulatory changes?

Competition

How do you win and retain business?

What is your reputation like among clients and how have you developed that reputation?

Do you offer any incentives to customers that refer businesses or individuals to your company?

What differentiates you from other firms? How does your firm add value to your audit services?

What do you consider market best practices in terms of switching auditors?

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Key elements for every RFP

What should my Audit Services RFP include?

Project Budget

Buyers should include the budget for the contract.

Buyers should include a list of other expenses they will cover.

Selection Criteria

Buyers should evaluate auditors on the qualifications of the firm and the staff assigned to the project.

Buyers should evaluate the auditor's experience with projects of similar complexity and scope.

Buyers should evaluate auditors based on their projected costs.

Buyers should evaluate references from auditors' previous clients.

For other selection criteria requirements, buyers should reference the Buying-Decision Scorecard section of this report.

Project Schedule

Buyers should include the date when proposals are due and any other relevant dates (e.g. presentations or final interviews) prior to the contract award.

Buyers should include the date when the contract begins and ends.

Buyers should outline dates for any other audit milestones.

Evaluate major factors to mitigate risk

How risky is the Audit Services supply chain?

The supply chain for audit services is exposed to a low degree of risk. Vendors in this market procure the majority of their inputs from computer and software wholesalers, commercial real estate lessors, law firms and office stationery wholesalers. Although some of these upstream suppliers pose moderate levels of risk,... Subscribe to learn more.

HIGH

MEDIUM

LOW