AAB scoops double award at Irish Accountancy Awards

On Thursday 25th May 2023, Leading cross-border accountancy and advisory firm, AAB was recognised with two wins at the prestigious Irish Accountancy Awards held at the Crown Plaza, Santry in Dublin last week.

AAB scooped ‘Advisory Team of the Year’ and ‘Employer of the Year’ at the awards which showcase the best in class and celebrates the profession’s fundamental role and ongoing dedication to delivering business and organisational success.

Over 400 accountancy leaders gathered to celebrate the high achievers in the Irish accounting profession and honour the teams and individuals who have been leading lights within the Irish accounting profession over the past 12 months. Launched in 2016, the awards were hosted by Colm O’Regan, critically acclaimed stand-up comedian, columnist and broadcaster and were presided over by an expert judging panel, with 22 winners announced on the night.

On receiving Best Advisory Team and Best Employer Awards, AAB were commended for their delivery of excellent client services and highly innovative approaches and congratulated for their positive team spirit and dedication to supporting clients and colleagues achieve their goals.

Partner and Head of Advisory Partner, Michelle Hawkins commented, “We are immensely proud of our team and their dedication to providing pioneering cross-border solutions to our clients in Ireland, Northern Ireland and around the world. It’s truly humbling to be recognised nationally by our peers in the industry.”

People and Culture Partner Teresa Campbell says: “We are delighted that the emphasis on developing our employee brand has received this external recognition which reaffirms our unwavering commitment to fostering a supportive and inspiring workplace culture. We continue to be inspired by our amazing Team every day and this award is testament to their support and dedication.”

Managing Partner Feargal McCormack commented “This recognition from the Irish Accountancy Awards is truly uplifting from an AAB Team perspective as we continue to grow on the island of Ireland.”

AAB were represented at the awards by a cross section of team members, including: Feargal McCormack, Teresa Campbell, Michelle Hawkins, Michael Farrell, Gary Digney, Aveen McShane, Caroline Murphy, Caroline Butler, Karl Foley and Caroline Preston.

How ESG Helps Safeguard Your Future

AAB ESG Lead, Aveen McShane says, Northern Ireland faces greater challenges than Great Britain or the Republic of Ireland in the fight against climate change. Our top industries are heavily dependent on nature, our loss of biodiversity is amongst the worst in the world, and we currently have the highest carbon emissions per employee in the UK. To meet the targets set out in the Climate Change Act (NI) 2022, we need to reduce our carbon emissions by 50% in the next seven years.

While businesses have an important role to play in helping Northern Ireland to achieve this target, lack of knowledge is a barrier. Almost three quarters of small businesses (74%) are unsure how to measure their emissions and only 35% have a plan in place to reduce their impact on their environment, according to a recent Federation of Small Business ‘Accelerating Progress’ report. Implementing an effective Environmental, Social, Governance (ESG) policy is an important first step in getting to grips with this challenge.

What is ESG?

AAB International ESG Specialist, Rachel Post, highlights that ESG is a framework to understand how an organisation measures and reports on their performance regarding environmental impact, social responsibility, and corporate governance. By analysing key ESG issues, companies can achieve cost savings, gain crucial competitive advantages, meet regulatory requirements and enhance their ability to access finance. When financial margins are tight, implementing an effective ESG policy can help a business improve its profitability.

ESG Benefits

Cost savings – Companies can use ESG to identify areas where they can reduce resources and enhance efficiencies. McKinsey has estimated that this can improve operational profits by up to 60%.
Competitive Advantage – Customers and investors are demanding that companies become more sustainable and reduce their negative impacts on the world. Millennials and Gen Z customers in particular want businesses to consider their long-term impacts. Companies that neglect sustainability are losing their younger employees, who are opting to work for organizations taking active measures to become more sustainable.
Reporting and regulatory compliance – Stringent, standardised reporting requirements are being implemented around the world. Additional UK regulations are likely to be implemented soon while Irish SMEs will need to report on their ESG impacts as part of the Corporate Sustainability Reporting Directive (CSRD). Companies that don’t comply risk significant fines. Even businesses that don’t legally need to report on their ESG data may be required to do so by their suppliers.
Access to finance and insurance – ESG-focused financing is on the rise. Companies that consider reputational risk factors and mitigate concerns may be able to access funds more readily than those who fail to embrace ESG.

AAB Managing Partner, Feargal McCormack believes that ESG has become a critical element of business success. If you need to comply with new government regulations, win tenders, or even lead your industry, now is the time to improve your ESG.

Our qualified experts including Aveen McShane and Rachel Post are on hand to answer any questions you may have about ESG. Our team can support your business in all aspects of ESG—from engaging with stakeholders, conducting materiality assessments, developing a sustainability strategy, setting KPIs and Net Zero targets to compiling progress reports and providing assurance services.

If your business is ready to start its sustainability journey or you want to improve your existing processes, AAB’s ESG experts can help. Head over to our ESG page to find out more or sign up HERE for a free ESG Health Check.

AAB STRENGTHENS SENIOR LEADERSHIP TEAM WITH LARGEST PROMOTION ROUND

AAB has announced its largest promotion round to date with 28 career progressions across all their offices on the island of Ireland.

The promotion round reflects the rapid growth journey AAB has been on since securing investment from London-based August Equity and the significant opportunities this growth presents to the AAB team. Since October 2021 AAB has more than doubled revenue and headcount, now a team of more than 750 people over 10 locations across Ireland and the UK.

As a result of this growth, AAB continues to develop the next generation of leaders, enhancing its Senior Leadership Team from within, with the Director appointment of Debbie Mullen from 1st April 2023. Debbie joined the firm from a Big 4 practice, back in October 2018 as a Manager within the Audit Team and has since progressed through the firm’s Leadership Programme. Debbie has extensive experience in leading audits and a strong track record of delivering assignments for clients across multiple sectors. Her drive and vision for client service will continue to not only positively impact clients but will also contribute towards our audit team’s ambitious growth plans.

On her promotion, Debbie commented,

“It’s been an exciting journey with AAB so far, with so many memorable experiences with colleagues and clients. I’m so proud and humbled to have been made a Director and I’m looking forward to helping others in the firm grow and develop also.”

Congratulating Debbie on this achievement, Teresa Campbell, AAB Lead Audit and Assurance Partner and Head of People and Culture within AAB, said

“We are immensely proud of Debbie on receiving this achievement and recognition for her hard work and dedication to the firm, the audit team and clients. I am also delighted for each and every Team member who have taken the next step in their career at AAB. We are an extremely progressive firm and I am thrilled that we are delivering unmatched opportunities for our ambitious people. We remain committed to investing in the talent across our business to further enhance our client service.”

AAB has also announced its largest round of promotions to date with four new Partners, a new Managing Partner and four existing Partners taking on additional responsibility in Business Unit Head roles as the business-critical services group continues to grow from strength to strength.

You can read the full story here

AAB Launches Bespoke Virtual Finance Function for Growing Businesses

We are delighted to announce the expansion of client services with our new Virtual Finance Function (VFF).

The new service will be a vital addition for businesses operating across the island of Ireland, scaling-up for export markets or cross-border.

The Virtual Finance Function offers businesses a cost-effective approach to getting better and easier control of their finances. The specialist support is tailored to the needs of each client from an experienced team with a wide range of expertise supporting businesses across all industries. The cloud-based solution allows business owners and managers to access real-time accounting data providing valuable insight for making strategic business decisions.

For businesses who are challenged with in-house resources in their teams, the Virtual Finance Function at AAB can also offer businesses support with statutory and technical accounting, finance secondments and project support. The full range of specialists are available to support with budgets, forecasting, International Financial Reporting Standards (IFRS) and other framework accounting.

As part of this expansion, we welcome a new Partner to the team. Stephen Smyth has joined the team as Virtual Finance Function Partner and will be leading the Virtual Finance Team across all AAB office locations in Ireland and Northern Ireland.

Feargal McCormack, Managing Partner at AAB – Ireland said:

“We are extremely excited about the addition of the Virtual Finance Function as a new client solution to growing business demands. Securing Stephen Smyth, an Irish Chartered Accountant with significant international industry experience from London, Toronto and Ireland, who himself has utilised the Virtual Finance Function, and heads up the new AAB bespoke finance service, is an added bonus.”

Stephen Smyth, Virtual Finance Function Partner at AAB said:

“There are incredible opportunities for us to provide a step-change in accounting data available to business owners across the island of Ireland. Our team gives individual businesses the ability to react to change efficiently as their business evolves.”

Lauren McIlroy, Virtual Finance Function Partner at AAB commented:

“In the last 5 years we have grown the Virtual Finance Function team to thirty specialists dedicated to supporting businesses of all sizes across all industries. The trusted relationships we have with our clients provides an unparalleled insight they can use to inform their business decisions. I can’t wait to develop these relationships with some of the fantastic businesses trading across the island of Ireland.”

For more information on how the Virtual Finance Function could transform your business, contact Stephen Smyth on Stephen.Smyth@aabgroup.com.

Growth of Wealth Team with Appointment of New Wealth Director for Northern Ireland

AAB has appointed Debbie Connolly as Wealth Director in Northern Ireland.

This senior appointment, which follows the recent appointment of Chartered Financial Planner Tom La Dell as Wealth Director in the North of England, further enhances AAB’s business-critical client services at a time of growing demand for personal finance, retirement and tax planning advice.

Debbie, who has more than 16 years’ experience in tailored financial services, is the seventh Chartered Financial Planner to join AAB’s wealth management team since the firm’s foundation in 2011. She is a member of the Irish Ladies Fly Fishing Team, plays darts in her local league and has represented Northern Ireland in ladies pool events.

Welcoming the appointment, AAB Managing Partner – Ireland Feargal McCormack said:

“Debbie’s extensive financial services experience will add significant value to our market leading wealth management team. As a Fellow and Chair of the Personal Finance Society, and a Chartered Financial Planner, Debbie is a real asset to have on board. We look forward to working together to realise our vision of helping clients achieve the best from life through personal finance, pension savings and retirement planning.”

Andrew Dines, Head of AAB Wealth, said:

“Welcoming Debbie to the team is another key milestone for AAB Wealth. In the past year, we have doubled the number of Financial Planners in the team, extending the breadth of service we offer across all our locations. We now have Chartered Financial Planners in our offices across Northern Ireland, Aberdeen, Edinburgh and Leeds and our team’s diverse range of talent and depth of expertise allows us to deliver awesome outcomes for our clients.”

Debbie Connolly said:

“It’s fantastic to be part of the firm’s growth and I’m really looking forward to delivering for our clients and helping them to protect and take advantage of the wealth they have worked so hard to achieve.”

For more information and a full list of services, click here or contact Debbie directly on +44 (0)28 9024 3131

Feargal McCormack honoured with lifetime achievement award

Feargal McCormack, Managing Partner – Ireland of AAB, claimed the coveted headline award of the night, the Lifetime Achievement award, at the 16th Year of Northern Ireland’s leading business awards, AT the AIB Business Eye Awards at the ICC Belfast on Thursday 17th November 2022.

With 19 different categories showcasing an impressive array of winners spanning across every type and size of business here in Northern Ireland, Feargal was hand-picked by the judges to receive this special award, bestowed to the individual who has made a significant and lasting contribution not just to their own business or sector, but also to the Northern Ireland business community and economy as a whole.

On announcing the winner of the Lifetime Achievement Award, Richard Buckley, Editor of Business Eye said,

“This recipient is perfect for a lifetime achievement award and as soon as his name was mentioned by one of our judging panel, we agreed on the spot and ended the discussion … we had our winner. On a personal note, our recipient tonight is one of the most positive, optimistic, helpful and inspirational people that Brenda and I have ever had the pleasure to meet during our business life. Ladies and gentlemen, the lifetime achievement award goes to … Feargal McCormack.”

‘An award not given every year’ reminded our Awards Host for the evening, critically acclaimed broadcaster Pamela Ballantine, as she welcomed Feargal on stage in front of a 600+ strong audience. Surrounded by the support of his AAB business partners, his wife Anne and son Ruairi, Feargal joined the judges on stage to receive the prestigious award, saying:

“I am very humbled, surprised, but honoured to receive this Lifetime Achievement Award. I am very aware of the significant contribution Business Eye and its principals Richard & Brenda Buckley are making to the Northern Ireland economy. On behalf of all the award winners this evening I express sincere thanks to them and the entire Business Eye team and all the Award sponsors, especially AIB. 

From a personal perspective, my life has been a journey of learning and leadership experiences.  Since I founded FPM (now AAB), over 30 years ago, my motivation in business, has been to create a legacy business.  The recent merger of FPM and AAB will enhance the legacy of the business, by facilitating succession and transition to existing and future generations.  From day one, I have been very conscious that anything we have been fortunate to achieve, has been the result of a passionate collective TEAM effort, and I express sincere thanks to all current and former AAB team members, who have helped us along the way. I am very grateful, that all my fellow AAB partners are here this evening. Our exciting journey together, has been reflected in this recognition tonight.”

Above all else, Feargal acknowledged the support of his family and the experiences that have shaped his life.

Feargal concluded his speech saying:

“Congratulations to all the award winners this evening and sincere thanks and gratitude to the judges and Business Eye for bestowing the great honour of a Lifetime Achievement Award upon me this evening.”

Brian Gillan, Head of Retail & NI at AIB highlighted the importance of celebrating success especially in the current climate,

“These awards act as a fantastic showcase of best-practice, leadership and innovation given the challenges currently facing our business community. It’s more important than ever that we take a step back and shine a light on the qualities that make our local business community so successful.”

Congratulations Feargal, your team at AAB are incredibly proud of you and your achievement.

Onwards and Upwards, the AAB way.

Scroll down for all the photos and fun from the evening…

AAB Awarded Tax Team of the Year 2022

The Irish Accountancy Awards showcase ‘best in class’ and underscore profession’s fundamental role in delivering business and organisational success.

Leading cross-border accountancy and tax consultancy firm, AAB took center stage on Thursday 1st September 2022 when they were awarded Tax Team of the Year at the prestigious Irish Accountancy Awards which took place at the Clayton Hotel in Dublin.

Over 400 accountancy leaders gathered for the return of the glittering gala post pandemic to celebrate the high achievers in the Irish accounting profession and honour the teams and individuals who have been leading lights within the Irish accounting profession over the past 12 months.

Launched in 2016, the awards were hosted by Colm O’Regan, critically acclaimed stand-up comedian, columnist and broadcaster and were presided over by an expert judging panel, with 22 winners announced on the night. On receiving the award, AAB were commended for the practice’s cross-border tax excellence incorporating Irish and UK taxes.

Tax Partner, Malachy McLernon accepted the award on behalf of AAB from award sponsor, Mary Cloonan, Director of Marketing Clever.

He commented, “We are immensely proud of our team and their dedication to providing exceptional cross-border tax results to our clients across Ireland, Northern Ireland and around the world. We see every day how passionate they are about client solutions and service and it’s truly humbling to be recognised nationally by our peers in the industry.”

Since inception AAB has picked up some of the highest accolades our industry has to offer. These awards and accreditations are testament to everything we’ve achieved so far.

Take a look… at AAB’s accolades and key milestones including:

2022 Irish Accountancy Awards Tax Team of the Year
2021 Dealmakers Transaction Services Team of the Year
2020 Irish Accountancy Awards Large Practice of the Year
2019 British Accountancy Awards Mid-Tier Firm of the Year
2019 Sunday Times Top 100 Small Companies to Work For (placed 1st in Northern Ireland and 27th in the UK overall)

AAB expands HR consultancy with key acquisition

AAB expands HR consultancy

Pictured (L to R): Anne Dougan (Think People), Graeme Allan (AAB), Emer Hinphey (Think People), Feargal McCormack (AAB)

AAB, the tech-enabled business critical services group, has today (Monday 22nd August 2022) announced a key acquisition to expand the HR consultancy services offered across the group.

Think People Consulting Ltd is an HR consultancy with an annual revenue of c. £1.7million, and a team of 24 people based across Belfast and Dublin.

Established by Anne Dougan and Emer Hinphey in 2006, Think People provides support to clients across a diverse suite of HR services, people development and organisational development. The company has a wide range of clients in both the private and public sector. Both Anne and Emer are remaining with the business to support ambitious growth plans to grow the Think People business as part of AAB.

AAB already has a strong track record in this field: Purpose HR joined the group in July 2021, and within 12 months reported the doubling of both turnover and headcount.

Following investment from August Equity, AAB has begun building strong regional hubs across the UK and Ireland. In May 2022, independent audit, accounting, tax and business advisory firm, FPM, was the first in Ireland to join the group. The addition of Think People is another significant step forward as AAB builds its reputation as a diversified business critical services group in the region.

Graeme Allan, Chief Executive of AAB, commented: “This is an incredibly exciting opportunity to expand the range of HR consultancy services that we can deliver for our clients. We are delighted to welcome the fantastic team at Think People to the group, and look forward to developing our HR offering across the UK, Ireland and internationally.”

Anne Dougan and Emer Hinphey, Managing Partners of Think People added: “We are delighted to join AAB, as we share strong values with the AAB team and their approach to delivering unparalleled services. We look forward to realising the benefits of the wider group support and range of services, to bring more value to our clients, and to help us realise our shared growth plans.”

Feargal McCormack, Managing Partner – Ireland of AAB added: “Since joining AAB 4 months ago we have been getting to know the enlarged team and collaborating on some new and exciting projects. We see the addition of Think People to the group on the island of Ireland as a perfect fit to offer our clients even more services maximising their success. Our shared synergies will ensure our clients and teams will continue to benefit from our Better Together approach.”

Following the acquisition, AAB will continue to actively pursue its organic and M&A growth plans, strengthening its team with further recruitment across all locations, and continuing to identify attractive M&A opportunities which augment the group’s current activities.

AAB expands Wealth Management with AAB Wealth & Key Appointment

AAB Wealth, a leading independent financial planning firm, has announced its expansion into Northern Ireland with the appointment of Chartered Financial Planner, Alastair Moore.

Alastair, originally from County Down, Northern Ireland, previously worked for AAB Wealth for 5 years in Aberdeen before leaving in order to relocate home to Northern Ireland.

Earlier this year AAB announced a merger with a leading all-Ireland independent accountancy and business advisory firm, FPM. AAB has a team of over 120 people across 5 locations in Belfast, Dublin, Dungannon, Mallusk and Newry.

The merger has created the opportunity for AAB Wealth to expand their service offering to cover Northern Ireland and as a result, they will welcome Alastair Moore back to the AAB Wealth team.

Andrew Dines, Director & Chartered Financial Planner at AAB Wealth said: “We are delighted to be welcoming Alastair back to our team. We are well-established in Scotland and look forward to developing our client base across Northern Ireland with Alastair back on board.”

Alastair Moore, Chartered Financial Planner added: “I am really looking forward to re-joining the AAB Wealth team and working closely with my new AAB colleagues across their offices. Growing the AAB Wealth business across Northern Ireland is an incredibly exciting opportunity and I can’t wait to introduce our service to clients here, partnering with them to plan and achieve their unique personal and financial goals.”

Paddy Harty, Private Client Partner at AAB said: “We are thrilled to welcome Alastair in-house, bringing with him the vast skills and strength of AAB Wealth to the people of Northern Ireland. Alastair will be an invaluable asset to both our clients and local business owners, entrepreneurs and professionals in Northern Ireland, who have experienced a boost in personal wealth, estimated at £11bn, as a direct result of personal savings during the pandemic.”

Financial planning is a process that helps individuals make sensible decisions about money to achieve the best from life. It covers all aspects of personal finance, everything from pension planning to savings, retirement planning to investments. Put simply, it protects the wealth our clients have worked so hard to achieve. The team at AAB Wealth have developed skill, insight and understanding to financially maximise a client’s business into a legacy for future generations, while simultaneously structuring investments to boost return and keeping tax to a minimum.

A full list of services on offer are available at www.aabwealth.uk/

The Irish Accountancy Awards 2022 place AAB for THREE award nominations!

Launched in 2016, the Irish Accountancy Awards recognise & celebrate excellence in the accountancy profession in Ireland over the past year.

This year, AAB are finalists for not one .. not two .. but THREE of the prestigious awards! In response to the announcement, AAB Managing Partner – Ireland, Feargal McCormack says: “To be nominated for Employer of the Year, Large Practice of the Year and Tax Team of the Year is a great achievement and I can’t think of a team that deserves it more. Over the past few months our firm has undergone massive change, that simply wouldn’t have been possible without our incredible, collective team. Congratulations to all nominees, we look forward to celebrating with you all in Dublin in September!”

With a tough lineup and some strong competing nominees, we wait in anticipation for the awards ceremony in September. Watch this space …