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Saturday, 20th April 2024
FINANCE MAGAZINE Accountancy Survey 2008

McInerney Saunders

Financial year end date: 31-08-2008  

FEE INCOME

1.1 Please indicate your fee income for your practice in the Republic of Ireland for your most recent financial year: 3.8 € [millions]
1.2 Please indicate your fee income for your practice for all-Ireland (including Northern Ireland) for your most recent financial year: 3.8 € [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 10 %
Other 10 %

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

Regulatory/Compliance 70 %
Financial Services 2 %
Wealth Management 6 %
Other 22 %
1.5 Is your firm part of an international network? Yes
What is the network's name? UK200 Group and International Association of Practising Accountants
1.6 How many locations do you have in Ireland? 1
Please give the locations? Swords, Co. Dublin (Fingal Local Authority Area)

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 Cathal Saunders 5 27 3
Tax Owen Sheehy 2
Consulting Gerry McInerney
Corporate Recovery Gerry McInerney
Corporate Finance Neal Morrison
Regulatory/Compliance Donagh Waters 3
Financial Services Neal Morrison 2
Wealth Management Neal Morrison 2
2.2 Which of the above areas had the strongest revenue growth? Wealth Management
2.4 How many partners are there in your firm? 5
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 3
40-49
50-59 2
60+
2.7 What is the average age that you would expect a partner to retire? 60
2.8 How many foreign workers do you currently employ as a percentage of your total workforce? 7
2.9 And which country(ies) do the majority of these foreign workers come from? One from India and One from Poland
2.10 On average how many hours do your partners work in an average week? 35
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 4 2
Non Professional Graduates
Trainees 1 1

SALARIES

3.1 At your last general salary review, by how much have you increased non-partner basic pay rates? (estimate) 10 %
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? 15 %
3.4 What non-financial perks and benefits do you offer your employees? eg additional holidays/health insurance/gym memberships/games room etc Life cover, PHI, professional subscriptions

PRACTICE MANAGEMENT

4.1 What do you perceive as being the biggest threat for your industry going forward?
Large corporate failure 
4.2 What do you perceive as being the biggest opportunity for your industry going forward?
Continued expansion of service lines 
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: This move facilitates a fairer remuneration and reward system, and reduces risk. 
4.6 Do you feel the credit crisis will effect your business going forward? No
Explain your decision: Our firm does not have any dependence on any specific industry sectors, the larget percentage of our income arrises from regular recurring fee income. 
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