I joined the firm straight after my degree at Glasgow Caledonian University. I’ve been here ever since, becoming a director in 2021. Martin Aitken & Co has been in the Glasgow area since 1897 under various guises. We’re a mid-size practice and, in my 12 years here, our headcount has almost doubled and turnover more than doubled. We have clients across the length and breadth of the country – from the south coast of England to the remote islands of Scotland – but our crux is the central belt of Scotland.
The last few years have been quite challenging. The pandemic, staffing, client issues and funding restrictions have all played a part. Our workload only really got back to normal at the start of 2023.
Recruitment is still an issue – for audit particularly – but it has improved slightly over the last 12 months. We made a decision not to take on any new audit engagements during the early stages of the pandemic because we were at capacity with the staff we had, but the team is now more experienced, and our juniors are becoming seniors. We’ve completed a great deal of work around our staff retention. There is still a general experience gap between our senior staff and our juniors, caused by the pandemic, but it’s the same for every firm.
Prospective clients are telling us they are leaving the larger firms because they want an independent firm
We have been seeing a great deal more audit opportunities in the last 12 months. This is because smaller practices are pulling out of audit work or reducing their operations, and because consolidation among the larger firms has caused their service levels to drop. There has been a lot of acquisition activity in accountancy firms in the Glasgow area, and prospective clients are telling us they are leaving the larger firms because they want an independent firm to do their accounts and audits.
A big challenge at the moment are the changes associated with ISQM 1 for audit purposes. For a firm of our size, the regulations and considerations are onerous, so I can understand why many smaller practices are withdrawing from audit work. There is much more to consider than there ever was before – including from an administrative point of view.
I don’t think the broader impact of AI will affect firms of our size for a few years
Staying on top of new software and applications and identifying new ways of doing things are likely to be a constant going forward. Of course, AI is very much part of what we use, but I don’t think the broader impact of AI will affect firms of our size for a few years.
Outside of work, I’m a keen sports fan. I also enjoy travelling and exploring new places. But right now I’m too busy planning my wedding to do anything else!
