Baker Tilly: Audit market to increase by 20-30 percent

“The Audit market will increase by 20-30 percent, due to new investors on the market, but also a larger number of companies choosing to meet the criteria of permanently contracting an auditor. I believe that audit will register a slight decrease this year compared to other types of professional services,” the General Manager of Baker Tilly Klitou, Mamas Koutsoyiannis, said.

According to other players on the market, audit services will maintain or even increase their ratio in consulting companies’ business. “We target a coverage of audit services of over 60 percent in the entire business, while this segment currently represents 40 percent of our turnover,” said Dan Schwartz, Managing Partner at Scot&Company Consulting. 

Koutsoyiannis added the market has growth potential, encouraged by legislative changes. Increasingly more foreign investors will enter the Romanian market, while investors already operating here will create aliances, mergers and acquisitions.