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Accounting services, 2015

Released: 2017-01-24

The accounting, tax preparation, bookkeeping and payroll services industry generated $18.3 billion in operating revenue in 2015, up 6.9% from the previous year. Operating expenses rose 7.2% to yield a profit margin of 27.6%, down slightly from 27.8% in 2014.

The industry's revenue came primarily from auditing and other assurance services (29.0%), followed by bookkeeping, financial statement compilation, payroll services (28.1%) and taxation preparation and representation services (24.8%). Management consulting services accounted for another 11.7%, with insolvency and receivership services (3.4%) and other sales of goods and services (3.1%) accounting for the remainder of industry revenue.

Most of the industry's revenue came from firms operating in Ontario (42.3%), followed by those in Quebec (18.8%), British Columbia (14.2%) and Alberta (14.0%). Provincial and territorial shares of industry revenue were relatively stable compared with previous years.

Firms in the industry allocated the largest portion of their operating budget to salaries, wages, commissions and benefits (53.6 %), followed by professional and business fees (6.3%) and subcontracts (5.8%).

Sales to clients were split among businesses (71.9%), individuals and households (15.8%) and governments, not-for-profit organizations and public institutions (7.5%). The remaining 4.8% of industry sales were to clients outside Canada.

  Note to readers

Data for 2013 and 2014 have been revised.

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