When Ireland joined the EU (then EEC) in 1973, Irish agriculture rapidly transformed. The guarantee of higher prices and support for farm and farmyard development boosted the confidence of farmers, leading to an accelerated increase in the adoption of new technologies to lift productivity. Coinciding with this, the first farmers were brought into the tax net in 1974, ultimately meaning that farmers were required to produce annual accounts to be tax compliant.
Several visionaries including farm and community activist Donal Cashman (founding Chairman of ifac) identified the need for a specialist farmer-orientated accounts service and in September 1975 the Irish Farms Accounts Co-operative (ifac) was founded.
Being a co-operative society means they are owned by members and clients. During the last 40+ years, ifac has supported farmers and played an integral part in the lives of farming communities all over Ireland. Over these years they have grown and evolved to better deliver on the needs of those operating in the Farm, Food and Agri sectors.
This philosophy of mutuality and a deep connection with people who work on and from the land continues to define ifac’s success today.
At the heart of their approach is a promise that they make to their members: they bring the full depth and breadth of financial expertise and sectoral experience to play an integral role in business. They pro-actively work to advise on sound financial practices, provide foresight to anticipate issues, and identify opportunities to help clients grow.
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