Logo Lalor O’Shea McQuillan

Award Winning Irish Professional Services Firm Lalor O’Shea McQuillan is the latest to endorse ‘The Firm of the Future’.

The Xeinadin Group is proud to announce that Lalor O’Shea McQuillan is a Xeinadin Company.

Written on October 21, 2019 by Padraic Lalor & John O’Shea | Lalor O’Shea McQuillan

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The firm is highly reputable in Ireland and is renowned for being a leading innovator within the accounting, tax and business advisory sector. The firm has been recognised through local and national business awards, particularly for its use of state-of-the-art technologies to provide comprehensive online accounting services to its clients.

Lalor O’Shea McQuillan has experienced solid growth over the years through a combination of organic growth and merger activity. The firm was formed in 2003 when Padraic Lalor and John O’Shea merged their Carlow-based firms to become the main equity Partners. The business now operates with over 30 team members across two main offices located in Dublin and Carlow. The firm’s expansion has resulted in the addition of two new equity partners, Gareth Keogh and Nuala Kenny in 2016, both of whom had been key members of the firm’s management team for a number of years.

Padraic Lalor qualified as a Chartered Accountant in 1991, completing his training in the Tax Department of Arthur Andersen, Dublin before joining PwC, Dublin in 1993. Padraic has specialised as a tax and business advisor throughout his career, qualifying as an AITI Chartered Tax Advisor and establishing his own accountancy and tax practice in 1996. He has helped many SMEs to develop and achieve their business goals and he is a trusted advisor to many Lalor O’Shea McQuillan clients. Padraic is well respected in the accountancy sector in Ireland and his endorsement of the model has encouraged several other leading firms to follow suit.

An SME specialist, John O’Shea’s broad experience spans more than 30 years working with medium and large-sized privately owned businesses. He advises on accounting, auditing, tax compliance, financial management, banking and statutory compliance matters. John has particular expertise in the retail and construction sectors and he is also responsible for a portfolio of Credit Union clients covering external audit, internal audit and risk and compliance outsourced solutions. John is experienced in advising on key financial management issues including accounting systems, financial controls, management accounts, financial projections and working capital management.

The firm is proud to have been the first accountancy practice in Ireland to introduce an online accounting service for its clients, being an early adopter of Twinfield’s online accounting service. For many years clients of the firm have been able to process all of their accounting and tax records in a simple, secure and efficient way online. As pioneers, the firm is best placed to support other Xeinadin offices to embrace technology at an advanced level. The latest technology enables clients to enter their information online, allowing the team at Lalor O’Shea McQuillan to collaborate with them having immediate access to process accounts, tax returns and other relevant compliance obligations.

Padraic Lalor said: “Using web-based technology, we have developed accounting processes that are significantly more efficient than traditional methods. We are committed to reducing the cost of our clients’ accounting services by passing on the savings that are achieved from these efficiencies. We provide a comprehensive accounts online service for a fixed fee per month. Timeliness and accuracy are inherent in our approach; removing the inefficiencies of traditional systems and ensuring that our clients have confidence in the accuracy of their accounts.”

Partner, Gareth Keogh is also a strong advocate of a technology-driven accountancy practice. He said: “Our firm has reduced costs from efficient web-based processes. There is no need to buy, install and maintain accounting software. It’s all cloud-based software. Clients can receive greater service without undertaking unnecessary visits to us. Due to our greater control, we can offer our clients a transparent monthly fee structure. Our clients also feel more in control as they can access their accounts anytime and from any location. It’s a win-win situation.”

The firm provides a broad range of advisory services, including a strong reputation for its tax advisory services provided by a team of experienced tax specialists led by Tax Partner, Nuala Kenny. Nuala joined the firm in 2006, having trained with KPMG Dublin’s tax practice. Nuala is a fellow of Chartered Accountants Ireland, where in the course of obtaining her qualification she was placed 3rd in Ireland in the Professional III examinations. Nuala is also a qualified AITI Chartered Tax Advisor and has considerable experience in tax planning for family businesses. Nuala also has particular expertise in corporate and personal tax planning, estate, succession and retirement planning.

Having experience of several merger and acquisition transactions in the area of corporate finance, including undertaking mergers themselves, Lalor O’Shea McQuillan is ideally placed to offer advice to clients on raising capital and on acquiring or selling businesses. The firm can support other Xeinadin offices in Ireland to help their clients in all aspects of corporate finance, including but not limited to, Management Buy-outs, Transaction Services, Due Diligence Investigations, Financial Modelling and buying/selling businesses.

On joining Xeinadin on 1st June 2019 Padraic Lalor said: “It’s a very exciting journey and it’s only been a few weeks in. I would agree that a community culture exists. The Irish Partners across the various Irish offices communicate daily through communication forums. There’s huge belief in this business model. As accountants we are often reserved by nature but what’s happening here is obvious to us and to our peers. The industry is moving faster than ever before and we want to be part of a concept that embraces and strives for the ‘Firm of the Future’. We have embraced technology for many years, and on this basis I can clearly see how a consolidation across the UK and Ireland can work more effectively in today’s market place. Ireland is a small community and many of us know each other, which has helped to create a real team spirit. I’m proud to be a board member for the Irish offices and I will be working hand-in-hand with my colleagues to ensure the group benefits from the sharing of knowledge, specialisms and experiences. We have followed the movement for a year and decided after much due diligence and deliberation to proceed and we don’t regret our decision. We want to be first to join a consolidation with the correct philosophy that embraces growth and development whilst supporting a next generation programme for talented younger partners. There’s some real talent in this group and we believe the firm of the future concept will continue to attract some of the most talented individuals in the industry.”

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