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Saturday, 20th April 2024
FINANCE MAGAZINE Accountancy Survey 2008

KSI Faulkner Orr

Financial year end date: 31-12-2007  

FEE INCOME

1.1 Please indicate your fee income for your practice in the Republic of Ireland for your most recent financial year: 3.5 € [millions]
1.2 Please indicate your fee income for your practice for all-Ireland (including Northern Ireland) for your most recent financial year: 3.5 € [millions]

1.3 Please give an indication (by p.c.) of the breakdown of this income:

Audit / Accounting 65 %
Tax 10 %
Consulting 5 %
Corporate Finance 5 %
Other 15 %

1.4 Please give an indication (by %) of the breakdown of this income by sector:

Regulatory/Compliance 75 %
Wealth Management 15 %
Other 10 %
1.5 Is your firm part of an international network? Yes
What is the network's name? Kingston Sorel International
1.6 How many locations do you have in Ireland? 1
Please give the locations? Dublin

PARTNER AND STAFF NUMBERS

2.1 In respect of the Republic of Ireland, please indicate the following partner and staff numbers as of now in each area:
  Contact Name Partners Non-partner chargeable Support Staff
Audit / Accounting Dominick Tighe 3 15
Tax Daragh O'Shaughnessy 1 6
2.2 Which of the above areas had the strongest revenue growth? Audit / Accounting
2.3 How many new partners were appointed last year? 1
2.4 How many partners are there in your firm? 4
2.5 How many male partners are there in your firm? 4
2.6 Please indicate the number of partners in the following age categories:
24-29
30-39
40-49 2
50-59 2
60+
2.7 What is the average age that you would expect a partner to retire? 65
2.8 How many foreign workers do you currently employ as a percentage of your total workforce? 2
2.9 And which country(ies) do the majority of these foreign workers come from? South Africa and Poland
2.10 On average how many hours do your partners work in an average week? 50
2.11 As a rough percentage, how many of these hours are chargeable? 46-60%
2.12 Approximately how many people have you recruited in the current year so far, and how many do you expect to recruit next year? (June to June)
  2007/2008 2008/2009
Professionally Qualified 2 1
Non Professional Graduates 4 1
Trainees

SALARIES

3.1 At your last general salary review, by how much have you increased non-partner basic pay rates? (estimate) 5 %
3.2 Over the next 12 months how much do you expect salary levels in the industry will change? 5 %
3.3 What percentage of non-partner remuneration do you expect to pay over the next 12 months in the form of bonuses? 5 %
3.4 What non-financial perks and benefits do you offer your employees? eg additional holidays/health insurance/gym memberships/games room etc health insurance, Pension, transport subsidies

PRACTICE MANAGEMENT

4.1 What do you perceive as being the biggest threat for your industry going forward?
recession 
4.2 What do you perceive as being the biggest opportunity for your industry going forward?
management consultancy 
4.3 Are staff shortages still a major problem in the industry? No
4.4 Do you feel that the partnership model is outdated? Yes
4.5 Do you feel that your company has to move towards a more corporate model in managing business? Yes
Explain your decision: structurally in terms of exit strategies etc a corporate model would be more flexible and easier to manipulate. 
4.6 Do you feel the credit crisis will effect your business going forward? No
Explain your decision: our business is heavily compliance based so will not be affected in the short term...in the long term...recession could have an impact on volume of this type of business 
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