AAB Joins TAG Alliances for Global Payroll

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.”

AAB Wealth Director Collects Financial Adviser Award

AAB Wealth Director for Northern Ireland, Debbie Connolly named Financial Adviser of the Year

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.”

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 Appoints New Chief Executive

AAB appoints new Chief Executive marking the start of the ‘next chapter.’
Emma Lancaster joins AAB on 6th November and will take on the role from 1st December.
Graeme Allan will remain on the board of AAB in an exciting new role.
AAB set to target £100million revenue in 2024.

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.”

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.

Succeeding at Succession attracts Full House

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 21^st 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.

100% Success Rate in Chartered Accountants Ireland Exams

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

Growth Sparks New Appointments in Tax Team

AAB, the tech-enabled business critical services group, has today announced changes to the leadership team following a period of exceptional growth.

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.

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. 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.”

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

AAB has announced its largest promotion round to date with 28 career progressions across all their offices in Ireland and Northern 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 Virtual Finance Function for Growing Firms

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

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.

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 Ireland and the UK. 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 Ireland and the UK.”

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