Managing partners in leading Accountancy & Business Advisory practices discuss activity, in-demand service lines, and the business outlook

ACTIVITY

Over the past year, our firm has experienced substantial growth across all service lines, particularly in tax advisory and outsourced managed services.

This reflects our focus on proactively addressing client needs by investing in both talent and technology.

These investments ensure we deliver innovative and impactful solutions that meet evolving client expectations.

In January 2024, we joined the Dains Group. This has marked a transformational period for us, enabling us to enhance our services and expand our reach.

Dains has a workforce of over 750 people across Ireland and the UK.

It brings a wealth of expertise and resources that supports our growth ambitions and enhances the client experience.

KEY DEVELOPMENTS

Being part of the Dains Group has provided us with the resources and infrastructure to strengthen our capabilities.

We have been able to leverage the group’s cutting-edge technology platforms, which have significantly improved the efficiency of our services, reducing turnaround times for clients and providing more accurate, real-time insights.

On the talent front, the partnership has significantly enhanced our ability to attract and retain top talent.

Being part of a larger, well-resourced organisation has allowed us to offer more career development opportunities and better training programmes, making our firm an attractive choice for professionals in the sector.

This access to a deeper talentpool directly benefits our clients by ensuring they work with the best minds in the field.

PROFESSION

The accountancy profession is undergoing significant transformation, driven by a combination of economic pressures, regulatory developments and, most prominently, technological change.

Artificial intelligence (AI) is playing an increasingly important role in shaping how we work and how our clients operate.

The future of the profession lies in finding the balance between embracing technology and maintaining the human element of our work.

AI may handle the data, but building trusted relationships and offering strategic advice based on a deep understanding of the client’s business and its nuances will always remain uniquely human.

CONSOLIDATION TREND

Consolidation in the accountancy sector is accelerating, driven by the need for greater scale, specialisation and technological resources.

Mid-sized firms, in particular, are seeking mergers and acquisitions as a way to remain competitive in an increasingly complex and globalised market.

Our decision to join the Dains Group was driven by our ambition to expand our capabilities and provide a broader, more sophisticated range of services to our clients.

This has allowed us access to state-of-the-art technology, tap into a deeper pool of expertise and enhance our service offering.

Consolidation is no longer just about increasing size, it’s about achieving the scale and innovation necessary to meet evolving client demands and staying ahead of the curve in a fast-changing profession.

TRUMP EFFECT

The early weeks of the Trump administration have created fresh uncertainty around global trade tariffs and their potential impact on supply chains, costs and profitability.

While the immediate risks for Irish businesses remain unclear, experience has shown how quickly trade policy can escalate, making preparation and agility essential for businesses with cross-border operations.

At McInerney Saunders, while customs and trade advisory are not our core focus, our connection with the Dains Group gives us access to specialist expertise in customs and VAT.

This allows us to provide clients with practical insights into how potential tariff changes could affect their operations and ensure they remain well prepared for any developments.

OUTLOOK

We are optimistic about the year ahead. For our firm, the benefits of joining the Dains Group are becoming increasingly clear, and we anticipate continued growth driven by our expanded service offerings and enhanced technological capabilities.

We are determined to grow our presence in Ireland in 2025, through strategic acquisition.

Our focus will not only be on firms’ portfolios but also on the skill set of their teams.

From a wider business perspective, the Irish economy remains resilient, but not without its challenges.

Ireland continues to benefit from strong foreign direct investment (FDI) inflows in sectors such as technology, life sciences and financial services, bolstering its position as a gateway to Europe.

However, there is uncertainty linked with geopolitical tensions, the threats of US tariffs and the risk of US companies moving their manufacturing back to the US.

Despite these challenges, we believe the fundamentals of the Irish economy are solid, and businesses that remain agile and forward-looking will find opportunities for growth.