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Accounting services, 2016

Released: 2017-12-07

The accounting, tax preparation, bookkeeping and payroll services industry generated $18.8 billion in operating revenue in 2016, up 3.4% from 2015. Operating expenses rose 3.5%, resulting in a profit margin of 27.8%.

Bookkeeping, financial statement compilation and payroll services replaced auditing and other assurance services as the primary source of revenue with a share of 28.1%. Auditing and other assurance services came in second at 27.6%, down from 29.3% in 2015. The third largest source of revenue was taxation preparation and presentation services (26.7%). Businesses generated 12.0% of their sales from management consulting services. The remainder of the industry's sales resulted from other sales of goods and services (3.0%) and insolvency and receivership services (2.5%).

Most of the industry's revenue came from firms operating in Ontario (43.1%), followed by Quebec (19.1%), British Columbia (14.4%) and Alberta (13.5%). The remaining provincial and territorial shares of industry revenue were relatively stable compared with previous years.

The largest expenditures within the industry were salaries, wages and benefits, accounting for 53.8% of total operating expenses. Additional expenditure categories included subcontracts (6.6%), rental and leasing (5.6%), professional and business fees (4.7%) and all other costs and expenses (10.7%).

Sales to businesses (70.1%) remained the largest type of sales to clients, followed by sales to individuals and households (15.8%). The proportion of sales to governments, not-for-profit organizations and public institutions edged up to 8.5%. The remaining 5.6% of sales were to clients outside Canada.

  Note to readers

Data for 2014 and 2015 have been revised.

Contact information

For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; STATCAN.infostats-infostats.STATCAN@canada.ca) or Media Relations (613-951-4636; STATCAN.mediahotline-ligneinfomedias.STATCAN@canada.ca).

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