As published in Business plus, March 2025.

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

Activity

RSM Ireland experienced record revenue growth with a 24% increase in our most recent financial year ended 31 March 2024. This strong momentum has continued into the current financial year with a two-year compound projected revenue growth of over 50% as the firm plans further expansion, bolstered by a move this summer to new offices at Iveagh Court, in the heart of Dublin's business district. 

In 2024, the firm's audit service line delivered another impressive year with a 39% increase in revenues. Tax services grew by 31%, underpinned by a strong advisory performance alongside its core offering to clients. The consulting business reported growth of 12% with particular demand for corporate finance, outsourced business services, forensic investigations and restructuring advisory services. The business currently employs 250 staff and is set to increase the workforce significantly over the next few years. 

The year also build on the strategic investment from RSM UK in November 2023 - a move that continues to accelerate our growth, support further investment in our people and new and existing services.  With a combined strength of over 5,660 professionals, the firm's collaboration with RSM UK provides direct access to a deep pool of specialist advisory services for its growing domestic and international mid-market client base. 

Globally, RSM achieved year-on-year growth of 6% in 2024, making it the sixth global accounting network to exceed combined fees of $10 billion. 
 

Consolidation

The strategic investment made by RSM UK in Ireland has been very beneficial for our people and clients. In October 2024, we announced plans for a transatlantic merger of RSM US, RSM UK, RSM Ireland and RSM Canada. This merger would establish the only partner-owned transatlantic professional practice, supported by 23,000 professionals, with combined annual revenues of $5 billion. 

By coming together as one partnership and investing together in new shared technology platforms, people growth and market initiatives, we expect our offering will be a game changer for our clients. It will allow them to engage with a firm that is truly integrated across our markets, which is consistent with their approach to international business. We think this is a unique and competitive structure, it means RSM will establish a leading transatlantic platform providing audit, tax and consulting services to meet our clients' needs. 
 

Client challenges

Irish businesses are operating in an increasingly complex financial and regulatory environment, which is driving demand for specialist advisory services. Regulatory scrutiny continues to intensify, particularly around tax, ESG reporting and governance, requiring businesses to adopt a more structured compliance approach. 

Mid-market companies, where we focus our service offering, are placing greater focus on long-term planning - particularly around succession, capital raising and mergers and acquisitions. Deal activity remains strong, with significant private equity and corporate interest in high-quality assets. Businesses are engaging advisors earlier in the process to ensure they are optimally structured for a transaction. 

While funding conditions are improving - with interest rates easing and a significant supply of both equity and debt capital available - businesses must still navigate investor expectations, valuation challenges and due diligence requirements. Firms with strong corporate finance expertise are increasingly supporting clients in securing the right capital solutions and executing successful transactions.