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In line with the global imperative for decarbonisation, Environmental, Social and Governance (ESG) reporting legislation is ramping up around the world. In the last year ESG reporting changes have been written into EU regulations and will be written into UK regulations over the next three years, impacting a range of businesses from larger companies through to SMEs.
In a bid to support businesses of all sizes to integrate sustainability principles into their operations and so comply with these legal requirements, leading Island of Ireland chartered accountancy and business advisory firm, AAB, has announced the expansion of their ESG division across the United Kingdom and Ireland.
An increasing number of businesses will have to report and be audited on their carbon footprint as part of the Streamlined Energy and Carbon Reporting regulation (SECR) in the UK and Corporate Sustainability Reporting Directive (CSRD) in the EU, with a risk of fines for non-compliance.
However, in addition to compliance, businesses stand to gain a number of competitive advantages by taking action to establish this framework for measuring and reporting on ESG topics, potentially including: greater attraction and retention of talent, access to finance, cost savings, increased value generation / profitability and retention of contracts as well as acquiring new business.
Aveen McShane, ESG Director at AAB, explains the rationale underpinning the division:
“In today’s rapidly changing business landscape, ESG factors are becoming increasingly important considerations for investors, regulators, and consumers. It has been consistently highlighted that companies performing strongly across all three factors of ESG have been shown to be more profitable, with one study finding up to 6 times more. These businesses not only mitigate risk, but also stand to gain a competitive edge by fostering long-term resilience and value creation. “At AAB, we recognise the critical role that businesses play in addressing pressing global challenges, such as climate change and social inequality. Our ESG proposition is designed to support businesses in embracing sustainability as a core component of their operations, driving positive outcomes for both society and the bottom line. “We are extremely proud to offer this proposition, which not only complements our existing portfolio of business and professional services, but also adds significant value to our clients, both established and new. ESG is considered a key growth area within AAB, with plans including further recruitment, team development and training.”
“In today’s rapidly changing business landscape, ESG factors are becoming increasingly important considerations for investors, regulators, and consumers. It has been consistently highlighted that companies performing strongly across all three factors of ESG have been shown to be more profitable, with one study finding up to 6 times more. These businesses not only mitigate risk, but also stand to gain a competitive edge by fostering long-term resilience and value creation.
“At AAB, we recognise the critical role that businesses play in addressing pressing global challenges, such as climate change and social inequality. Our ESG proposition is designed to support businesses in embracing sustainability as a core component of their operations, driving positive outcomes for both society and the bottom line.
“We are extremely proud to offer this proposition, which not only complements our existing portfolio of business and professional services, but also adds significant value to our clients, both established and new. ESG is considered a key growth area within AAB, with plans including further recruitment, team development and training.”
Based across the Island of Ireland, North and South AAB’s ESG team have extensive expertise in this increasingly important field and hold credentials from Cambridge University, Chartered Accountants Ireland and the Institute of Accountants in England and Wales. With a trained B Leader on the team, AAB can also support companies pursuing B Corp certification.
Alasdair Green, ESG Partner at AAB added:
“Our clients realise that by commencing their sustainability journey, they will not only drive profits, but they will become more resilient, adaptable and avoid the real risk of being left behind. We are here to support forward-thinking businesses with our five-stage pathway. Our goal is to build resilient and future-proof organisations that can meet today’s needs, without endangering those of future generations.”
AAB’s ESG service offering is designed to assist businesses in navigating the complexities of sustainable business practices by offering:
Ready to explore how our ESG division can help transform your bottom line and secure a sustainable future for your business? Contact our team today.
Tech-enabled, business critical services group, AAB, has been shortlisted for the Best Private Client Tax Practice award, in the coveted UK-wide Tolley’s Taxation Awards 2024.
The Private Client (PC) team, which consists of 66 entrepreneurial, highly-skilled advisors from across UK and Ireland has been instrumental in AAB’s organic growth.
Success has been fuelled by record client wins over the past financial year, both in terms of quality and quantity of new clients. The team also grew by an additional 12 people, enhanced by strategic acquisitions, new hires, seamless team integration, and fostering talent from within, ensuring they have the requisite skills and resources to meet demand.
Well-positioned to support clients with innovative value accretive solutions and strategic tax advice, the PC team works with a global portfolio of entrepreneurs, high net worth individuals and families, family companies, international private clients, trusts and estates.
A dedicated PC leadership team of 24 supports the multi-disciplinary, cross-jurisdictional teams, excelling at entrepreneurial and cross-border tax planning, International advice, trusts/estates, worldwide/offshore disclosures, asset restructuring and wealth protection.
Utilising their significant levels of tax expertise, the PC team has contributed to both organic growth and service excellence at AAB.
Paula Fraser, Head of Private Client, leads the team. She said:
“At AAB we are exceptionally proud of our Private Client team, so being short-listed for the final of the Tolley’s Taxation Awards by a panel of our esteemed industry peers is a truly gratifying experience. “Our team excels, with an ability to quickly see to the heart of the matter and demonstrate a positive and commercial approach to working up a bespoke solution. “Progress is driven by our all-in-one client services strategy– combining seamless compliance, proactive tax transformations, innovation, teamwork, strategic partnerships, and technology to maximise client satisfaction. We consistently go above and beyond in devising tax solutions for our clients, capitalising on new technology, harnessing AI, and adapting to the evolving role of tax. Success is measured by how we help clients achieve their goals.
“At AAB we are exceptionally proud of our Private Client team, so being short-listed for the final of the Tolley’s Taxation Awards by a panel of our esteemed industry peers is a truly gratifying experience.
“Our team excels, with an ability to quickly see to the heart of the matter and demonstrate a positive and commercial approach to working up a bespoke solution.
“Progress is driven by our all-in-one client services strategy– combining seamless compliance, proactive tax transformations, innovation, teamwork, strategic partnerships, and technology to maximise client satisfaction. We consistently go above and beyond in devising tax solutions for our clients, capitalising on new technology, harnessing AI, and adapting to the evolving role of tax. Success is measured by how we help clients achieve their goals.
“We are looking forward to celebrating with our fellow finalists at the Tolley Taxation Awards ceremony next month, and wish everyone the best of luck!”
AAB’s Corporate Finance team has been awarded the inaugural Transaction Services Team of the Year Award by Insider Media at the Northern Ireland Dealmaker Awards 2024…Group
The Transaction Services Team of the Year Award recognises the team that has advised and facilitated in the most exciting deals, by providing the highest quality transaction services throughout the year.
Alongside shortlisted firms such as EY and Grant Thornton, AAB secured the title through its differential services and were announced winners of the award, with the judges commenting:
“AAB is on a very exciting growth journey. This was evident from the team’s success in the past year which saw their team grow by 25%. The judges felt the team deserved recognition for the crucial role they played in supporting further investment in Northern Ireland.”
Ashok Thomas, AAB Corporate Finance Director accepted the award and commented:
“This is a significant accomplishment for our Corporate Finance Team – to be recognised amongst respected peers in the industry. We take great pride in the relationships formed with businesses in Northern Ireland and this honour is testament to our team’s crucial role in steering a diverse portfolio of sizeable international and local deals in Northern Ireland.”
The Northern Ireland Dealmaker Awards, which were held at the Europa Hotel, Belfast and compered by Jason Mohammad are sought-after by the corporate finance community in Northern Ireland and reward the top performing professional advice and funders in the region.
Scroll down for photos from the event…
Leading cross-border accountancy and business advisory firm AAB has announced the promotion of three key team members to Director roles.
AAB has enjoyed a period of exceptional growth. A total of 10 team members have been promoted to senior leadership positions within AAB across Ireland and the UK.
Aveen McShane and Sarah-Jane Murphy, who are both based in the Newry office, have been promoted to the positions of Business Advisory Directors. Caroline Butler, who is based in the Dublin office, takes on the role of Corporate Tax Director.
Feargal McCormack, AAB Managing Partner – Ireland, congratulated the newly promoted members of the firm’s senior leadership team: “We are on a truly exciting journey with ambitious growth plans, none of which would be possible without our fantastic team collaborating with great clients. So it is particularly gratifying to be able to recognise our team with these well-deserved promotions.
Teresa Campbell, AAB Partner, continued: “As a group we pride ourselves on our commitment to developing our people, and this promotion round is no exception. Aveen, Sarah-Jane and Caroline have all demonstrated superb leadership and commitment to the company, and I’m delighted to see them progress to Director roles. I look forward to working with them, and all of our newly appointed Partners and Directors, as we continue to deliver unparalleled services for our clients.”
Three Scotland-based members of the team have also been promoted to Director:
A further four AAB team members who are based in the firm’s Scottish offices have been promoted to the role of Partner:
A further 46 team members have been promoted across the wider AAB organisation.
AAB CEO, Emma Lancaster added: “What a fantastic way to kick-start 2024, by recognising the expert knowledge, commitment and dedication of 56 team members with these richly deserved promotions across our office locations.”
Since securing investment from August Equity in October 2021, AAB now employs c1,000 people across 12 office locations in the United Kingdom, Ireland and the United States.
AAB Payroll Inc, a leading provider of comprehensive payroll solutions across the USA, has recently affiliated with TAG Alliances – a global multi-disciplinary alliance of high-quality, independent professional services firms.
Becoming a Best Friend of TAG Alliances is poised to enhance AAB Payroll Inc’s global reach and collaboration opportunities.
AAB acquired its US payroll partner Dominion Systems Inc, including its highly sophisticated US payroll software and experienced US payroll team, in March 2023, when it began trading as AAB Payroll Inc.
By becoming a Best Friend of TAG Alliances, AAB Payroll Inc will foster connections with top-tier law firms, accounting firms, and other professional service providers worldwide to support businesses trading in any state with payroll and employment taxes.
Chris Andree, President of AAB Payroll Inc said: “We are thrilled to join TAG Alliances as a Best Friend, a move that aligns seamlessly with our commitment to delivering exceptional payroll services on a global scale.
“This partnership not only opens up new avenues for collaboration, knowledge-sharing, and innovation within the professional services landscape, but also underscores our dedication to staying ahead of the curve when it comes to industry trends and best practices, while providing clients with seamless and efficient payroll solutions.”
As a Best Friend of TAG Alliances, AAB Payroll Inc will gain access to an extensive network of professionals, facilitating cross-border collaboration, knowledge exchange, and the ability to address the unique challenges of an ever-evolving global business environment.
Richard Attisha from TAG Alliances commented: “We are delighted to welcome AAB Payroll Inc as a Best Friend and Strategic Partner of TAG Alliances. Their expertise in payroll services adds significant value to our network, and we look forward to a fruitful collaboration that will benefit our members and their clients alike.”
Debbie Connolly, AAB Wealth Director for Northern Ireland, has been named Financial Adviser of the Year – Northern Ireland & Scotland, at the Women in Financial Advice Awards 2023.
Debbie, who has more than 16 years’ experience in tailored financial services became part of the AAB Wealth team in January of this year, based in their Belfast office. This national award recognises her exceptional talent, dedication, and expertise in the financial advice industry, as well as her impact as a woman financial planner.
Combined with AAB Wealth’s recent win of the coveted Top Planning Firm award across the whole of the UK, this latest accolade cements the team’s position as a leader in the financial planning industry.
Now in its sixth year, The Women in Financial Advice Awards celebrate the achievements of women, who continue to be underrepresented within the financial advice community and across the UK financial services sector.
The glittering ceremony, hosted by comedian Lucy Porter and Professional Adviser Deputy Editor, Jenna Brown, took place at the Marriott Grosvenor Square in London earlier this month.
Debbie was commended for her achievements and contributions to the industry, with the judges revealing that her nomination stood out from the other 1,200 nominations submitted.
Debbie said:
“To me, financial planning is much more than providing advice; it’s about providing unwavering support to my clients on their financial journeys. Taking the time to understand their unique needs and goals, and working with them to develop a personalised financial plan that helps them achieve their dreams. “I am honoured to have been recognised for this work, as it reaffirms my belief in the power of personalised financial advice to positively impact lives. I hope that my achievements can inspire others and empower more women in my profession.”
“To me, financial planning is much more than providing advice; it’s about providing unwavering support to my clients on their financial journeys. Taking the time to understand their unique needs and goals, and working with them to develop a personalised financial plan that helps them achieve their dreams.
“I am honoured to have been recognised for this work, as it reaffirms my belief in the power of personalised financial advice to positively impact lives. I hope that my achievements can inspire others and empower more women in my profession.”
Cross-border accountancy and business advisory firm AAB has a significant regional presence across the UK and Ireland. As part of AAB, Debbie is based in the AAB Belfast office.
Feargal McCormack, AAB Managing Director – Ireland, congratulated Debbie on her achievement, saying:
“Debbie’s win is a testament to her foresight and knowledge in the financial advice industry. We are so proud of her accomplishments and the positive impact she has on our clients.”
AAB has today announced the appointment of Emma Lancaster as its new Chief Executive.
Emma will succeed Graeme Allan who has been at AAB for more than 16 years. Graeme will remain on the AAB Board of Directors and transition into the role of Group Executive Director, focusing on strategic partnerships and ongoing M&A activity.
Emma, a qualified accountant, has an exceptional track record in driving business growth through a people centric culture which will be invaluable to AAB which is set to continue its impressive growth journey targeting £100 million annual revenue in 2024. She has more than 15 years Board level experience in CEO and CFO roles in private equity backed, international, people-based businesses in the business services and education sectors, most recently with Study Group, a leading provider of international education.
Whilst Emma will be based in AAB’s London office, she will have an active presence across all AAB locations.
Commenting on Emma’s appointment Graeme Allan said
“I’m delighted Emma has agreed to join AAB and lead the next part of our journey. Her experience and people-centric focus makes her the perfect choice for AAB. Her diverse background and experience in driving growth will strengthen the senior leadership team. Emma is completely aligned with our number one value that “Nothing is more important than our people”. I’m looking forward to working with Emma in the next phase of our exciting growth journey. Leading AAB has been an absolute privilege and helping to build it with such talented people is something I’m very proud of and look forward to continuing in my new role.”
“I’m delighted Emma has agreed to join AAB and lead the next part of our journey. Her experience and people-centric focus makes her the perfect choice for AAB. Her diverse background and experience in driving growth will strengthen the senior leadership team. Emma is completely aligned with our number one value that “Nothing is more important than our people”. I’m looking forward to working with Emma in the next phase of our exciting growth journey.
Leading AAB has been an absolute privilege and helping to build it with such talented people is something I’m very proud of and look forward to continuing in my new role.”
Emma Lancaster said:
“I am proud to be joining AAB to lead the team through the next exciting chapter of growth. AAB has been founded and grown on strong values and as we continue to expand there will be endless opportunities for the businesses and individuals we work with as well as for our fantastic team delivering those services across the globe. I am delighted that I will be working with Graeme and the Board of Directors.”
Kishan Chotai, Partner at August Equity added
“Graeme has done an exceptional job leading the team since 2015 and we would not be where we are today without his strategic vision. AAB has never been a more attractive platform for investment and our organic and acquisitive growth journey is set to continue in 2024. We look forward to working with Emma, Graeme, and the team.”
Since securing investment from August Equity in October 2021, AAB has completed nine acquisitions and now employs more than 1,000 people across 12 offices in the United Kingdom, Ireland, and the United States.
Scroll down for all the photos from the event
The recent Succeeding at Succession event, hosted by AAB and AAB Wealth at The Merchant, Belfast on Thurs 21st September 2023, showcased the importance of protecting wealth for future generations in a tax-efficient manner, with a financial plan to help you achieve the best from life. The evening brought together a distinguished group of industry leaders, family businesses and professionals, who fostered meaningful networking and conversations over canapes and drinks at the well-regarded event venue, The Merchant Hotel.
With the ultimate goal of preserving family wealth, the event shed light on effective strategies and best practices. Attendees, who had pre-registered due to the high demand for this exclusive event, gathered to learn from the experts and gain valuable insight into the complexities of succession planning, inheritance tax and retirement planning.
The event featured notable speakers from our team, including Feargal McCormack, Managing Partner at AAB – Ireland, Paddy Harty, Tax Partner at AAB and Andy Dines, Head of AAB Wealth. They shared their extensive knowledge on the challenges and solutions related to wealth management with live case studies.
Missed out? Fret not! we’ve outlined some essential considerations when estate planning, in this recent article on Succession without the Backstabbing – How to be positive with your Estate Planning.
For more information, please contact our Family Business Team or our AAB Group colleagues from AAB Wealth.
AAB is an award-winning chartered accountancy and advisory firm. This all-island training firm is proud to announce the exceptional achievement of its FAE Students following 100% success rate in Chartered Accountants Ireland’s (CAI) Final Admitting Exams for Devon Gilmore, Emma Maginn, Gavin Fox, Mark Doyle, Owen Henry, Shannon O’Neill and Sinead Patterson.
The CAI’s final admitting exams are a crucial milestone in the professional development of a Chartered Accountant. This impressive accomplishment is testament to the hard work, dedication, and motivation of the team, and reflects the firm’s unwavering commitment to continuous learning and professional excellence.
“We are thrilled to celebrate the remarkable success of our CAI trainees in their Final Admitting Exams,” said Teresa Campbell, Partner at AAB. “There is an incredible level of talent throughout the business, and we take immense pride in our team’s achievements, recognising that our people are our greatest strength.”
AAB were acknowledged earlier this year for leading-edge People and Culture practices, being awarded Employer of the Year 2023 by the Irish Accountancy Awards. The firm have a range of exciting opportunities available across Ireland and the UK. For further information, visit www.AABaab.com/careers
Malachy McLernon, Corporate Tax Partner at AAB, will take on the role of Head of Corporate and Indirect Tax across AAB, taking the reins from Neil Dinnes, who moves into the new role of Group Business Development Partner. Alistair Duncan has been promoted to Indirect Tax Partner.
Since becoming part of the AAB team, Malachy McLernon has worked closely with colleagues across all of AAB’s locations to support a wide range of clients from owner-managed businesses to large multi-nationals.
Commenting on his appointment, Malachy said:
“AAB is on a truly exciting journey with ambitious expansion plans. The period of growth we’ve experienced would not have been possible without our fantastic team collaborating with great clients. I’m looking forward to empowering even more collaboration across AAB, and helping our teams to continue providing the outstanding service our clients know and love.”
Neil Dinnes, the former Head of Corporate and Indirect Tax, will continue to drive new business growth across the UK and internationally in the newly created role of Group Business Development Partner whilst allowing him to retain and build his client portfolio going forward.
Neil commented:
“AAB is growing at an outstanding rate, and as a result, the opportunities for business development have never been greater. I am looking forward to supporting exceptional growth across our services lines and to sharing these opportunities with our clients.”
Alistair Duncan has been promoted to Indirect Tax Partner. Since joining AAB in 2016 in the Indirect Tax team, he has supported businesses across all industries by supporting clients to manage the complexities around VAT, customs duty and other indirect taxes.
Commenting on his promotion, Alistair said:
“We have an outstanding VAT & Customs Duty team at AAB working across the UK and Ireland, supporting clients internationally in an area of tax that is becoming more and more complex. I am looking forward to playing my part in delivering our ambitious growth plans in the years ahead.”
AAB now employs 1,000 people across 10 office locations and offers support to businesses and individuals with accounting, tax, audit, corporate finance, payroll, HR, consulting, and wealth management.