Today’s news in brief – 25/10/2024

Armstrong Watson has acquired Glasgow-based accountancy firm Parkhill Mackie & Co., incorporating its 11 staff, including partners Linda Parkhill and Sandra Mackie, into its Glasgow office. This merger, following Armstrong Watson's recent acquisition of Gibbons Accountants in Cumbria, strengthens its presence in Scotland. Parkhill and Mackie, both Chartered Taxation members with extensive experience, will bolster Armstrong Watson’s senior leadership and private client services. Managing partner Paul Dickson expressed excitement for the growth and alignment of values with Parkhill Mackie, while Parkhill highlighted the merger’s benefits for continuity, technical support, and enhanced client services. Forvis Mazars has appointed Sarah Mills as a partner in its accounting and outsourcing team at the Sutton office. Mills, who has a background with PwC and finance roles in the luxury retail sector, will focus on expanding the firm’s accounting and outsourcing services, enhancing global compliance and reporting. Her role also emphasises quality and efficiency, ensuring integrated services for improved client experience. Joining Forvis Mazars—a new entity formed by a merger of Mazars and Forvis—Mills will contribute to the firm’s growth as part of its UK-based team, which recently added 15 early career hires. EY’s 2024 Tax and Finance Operations Survey shows that 87% of CFOs and tax leaders believe generative AI (GenAI) can improve efficiency, a sharp rise from last year. Amid cost pressures, which for the first time top leaders’ concerns, 86% are exploring cost-cutting while transforming to meet rising regulatory demands. As GenAI gains traction, leaders report talent shortages, with 70% affected by fewer new accountants and an ageing workforce. While GenAI won’t reduce staff numbers, it’s expected to shift tax functions towards strategic tasks. EY Global's Marna Ricker urges a confident, responsible GenAI integration plan. MHA has appointed Rowan Porter as the transaction services director for its Liverpool corporate finance team, which now comprises 16 members. With 26 years in financial services, including over 20 years at Grant Thornton, Porter will lead transaction services in Liverpool and support regional and national corporate finance efforts. His role strengthens MHA’s expertise in the Liverpool City Region, enhancing the firm's M&A, fundraising, and valuation specialisations. Porter expressed excitement at joining a passionate, skilled team in a dynamic environment, aiming to deliver top-tier results for clients across the region.