Business Plus - Ireland's Top Accountancy & Business Advisory Firms 2022

As published in Business plus.

Managing Partner of RSM Ireland, John Glennon, spoke to Business Plus Magazine for the annual Accountancy and Business Advisory survey.

ACTIVITY

I truly believe there has never been a more exciting time in our business. Our globally owned client base has grown dramatically over the past year. Our audit practice grew by 30%, our strongest year ever, and the firm’s tax business experienced growth too, particularly in the design of bespoke tax solutions for our globally active clients. Our consulting business has also experienced exponential growth in recent years, with the public sector now making up 50% of our consulting work. We also continued to work closely with FDI companies based in Ireland, including implementing outsourced technology such as Global Compliance and Reporting Services, which can manage all aspects of multijurisdiction compliance.

CLIENTS

The past year provided an opportunity for our clients to turn challenge into opportunity and embrace change, and we have been supporting them in transforming their operations for a new post-pandemic business age. As more and more companies embrace digital-driven solutions and flexible working practices, specialist consulting and problem solving has never been more important. I believe the pandemic brought about a once-in-a-generation reconfiguration of how professional work can be performed.

At RSM Ireland we have transformed our working arrangements and are now committed to long-term hybrid working. For me, the last couple of years have proved that the RSM values and culture are reflected in our behaviours and our work regardless of where we are located. With this transformation, we have embraced the opportunity to become more sustainable as a firm. We have become entirely paperless and reduced our footprint. We have moved our Portlaoise office to a smaller space in the town to support our hybrid working and sustainability ambitions. We have witnessed similar pivots across our client base as businesses transform for the future.

TAXATION

There are too many obstacles challenging the growth of FDI in Ireland. While companies have had very positive experiences in Ireland, making the country a great place for talent to live and work is just as important as tax when it comes to attracting and retaining FDI. Our tax regime needs reform to address the current high tax burden and the marginal rate of income tax, with the aim of decreasing the cost of employment for businesses and employees alike. More needs to be done to provide affordable housing and boost Ireland’s attractiveness for investment.

TECHNOLOGY

As the world becomes increasingly digitalised, we are seeing a rise in businesses seeking data to support decision-making and reduce risk and cost. Our data analytics consulting service helps clients to leverage their data by turning it into an organisational asset, and providing insights needed to reimagine how their business will look in the future. RSM also uses financial modelling and analyses, in all their forms, to help clients to resolve complex business challenges, providing strategic planning and analytical insight. In turn, this enables clients to make confident and effective business decisions based on reliable and robust insights. PURPOSE In our role as business advisors, we have an opportunity to inspire meaningful change with our clients. This can involve ensuring that purpose is truly effective in innovation, aligned with business goals and driving decision-making. While forging a more purpose-driven sustainable path can make an impact that matters, it benefits business too. A collective sense of meaningful purpose can engage and enrich the workforce behind it. Ultimately, people do a far better job when they believe in what they are doing and the difference it can make.

As seen in the Business Plus, March 2022