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Managing Partner Naoise Cosgrove reflects on Crowe Ireland's recent performance, new developments in the industry and his outlook for the future.
Can you outline your activity in the past year, how it has evolved/changed and where the key areas of growth have been?
2024 was another impressive year for Crowe. We experienced growth across all service lines due to continued robust client demand. We have seen a particularly strong level of new enquiry for audit services from companies seeking an alternative to the Big Four. These companies are looking for the reassurance of a global network, but with a tailored service to help them achieve their business and personal objectives.
Our tax team continues to prosper based on its reputation for being commercially minded, proactive and focused on solutions. Our Consultancy division experienced increased demand from clients in areas such as ESG, change management, organisational reviews, and financial performance reviews. Meanwhile, our Corporate Finance division actively assisted SME clients in growing, buying and selling their business.
Are there any important recent developments in your firm that you would like to share (for example, new strategy, new service line, recruitment drive, innovation initiatives etc)?
We continue to invest in high-quality talent to broaden our service offering. To address our clients' evolving needs, we have established an ESG Centre of Excellence. Many clients face challenges with the reporting requirements under the Corporate Sustainability Reporting Directive (CSRD) and require expert assistance in navigating its complexities.
What would you say are the main factors affecting your profession at present and how is your practice adapting to change? In particular, can you refer to technological change and artificial intelligence (and how this is affecting your own business and that of your clients).
Like most businesses, we are investing in AI solutions to ensure that we continue to provide the best services to our clients. AI undoubtedly has the potential to accelerate innovation and drive success for our clients. We have appointed leaders in each of our service lines to play a critical role in advancing Crowe’s adoption of AI in our business operations and service delivery. These modern tools will help our people save time on mechanical work, while they use their experience and expertise to accomplish core business activities.
Can you comment on the consolidation trend in your sector (and share if your practice has been involved in any mergers or acquisitions and why)?
At Crowe we are focused on sustainable growth – both organically and via merger opportunities. We are looking for firms that share our values, with a focus on people, relationships and exceptional client service.
Apart from geopolitical events, what are the other burning issues facing your clients in 2025?
The majority of our clients are SME businesses. For many, adopting and effectively leveraging digital technologies remains a critical challenge. Clients recognise that digital capabilities are a must to remain competitive. While the lack of in-house expertise can be a constraint, businesses can leverage affordable tools to gain an advantage in their industry.
With near-full employment, a common issue for clients across all sectors is the availability of talent. The rising costs of employment, with increases in minimum wage and the introduction of pension auto-enrolment later this year, impacts many of our clients in labour-intensive businesses such as hospitality and retail.
Other common themes include sustainability and the environment, as well as access to finance to fund investment and growth.
What is your outlook for your own firm, business in general and the Irish economy for the next year?
We are ambitious for the future and are continuing to invest in our people and technologies to meet our clients’ needs. We believe that a firm our size is ideally placed to serve the needs of SME clients seeking to build a trusted and long-lasting relationship.
