This opens an opportunity for small to medium-sized auditing firms to become specialists - so-called “niche players.” In this way, smaller auditing firms can develop the expertise of their auditing staff around the accounting and business practices of the specialized industries or particular types of clients, as knowledge-sharing can be more successful when it is naturally more targeted.
It projects that the euro area will grow by 0.9% in 2023 und by 1.5% in 2024. As for the inflation rate, according to flash estimates the HICP rate fell markedly to 6.1% in May, while the core rate dropped slightly to 5.3%. The Eurosystem staff project that the annual inflation rate will decline to 5.4% in 2023 and to 3.0% in 2024.