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Latest News

Chartered Accountants Abroad

Five Chartered Accountants consider the benefits of working overseas and share their tips for those who wish to broaden their horizons. Paul Murray Title: Commercial Manager – Sales, Programming & Operations Company: Seven Network Location: Sydney, Australia There are great personal development opportunities in multicultural nations such as Australia. I was fortunate enough to enter the market here at manager level thanks to my Big 4 background and extensive client exposure, something that wouldn’t usually happen in Ireland. Having started my career in Rugby Australia, I am now responsible for $1 billion in revenues and $500 million in costs at Seven Network, the most-watched free-to-air television network in Australia, and manage a team of seven women who all hail from different countries. The diversity in our team has really helped me develop from a people management perspective. My top tip Reach out to recruiters before you make the move abroad. This gets your name into the market and generates early opportunities. It also saves time, which is important as Sydney, in particular, is an expensive place to move to. Sarah McEneaney Title: Partner, Digital Talent Company: PwC Location: Chicago, US I’ve spent my whole career living, working and travelling all over the world. I would encourage anyone to take advantage of these opportunities, whether they present themselves or you have to create them. Working with people from so many cultures, and navigating situations and solving problems – often as a “minority” – are skills that are difficult to acquire without living them. Working overseas can allow you to have impact at a global scale – my experience has truly borne that out. As PwC’s Digital Talent Leader in the US, I am responsible for future-proofing our workforce of 50,000 colleagues and considering the impact of technology on the firm’s people strategy. My top tip A professor of mine once said: “Beware of the once-in-a-lifetime opportunities that come along every single day”. I wish I had heard this sooner, but I’m becoming more judicious in what I say yes to and what I decline. Oh, and get more sleep – that’s the true magic for better work. Caoimhe Toouli Title: Partner, Audit and Assurance Company: KPMG Location: Sydney, Australia I left Ireland in 2002, bound for Silicon Valley on an international secondment sponsored by KPMG. I really only wanted to go for 12 months, but had to commit to 18 months and I haven’t looked back. In my view, diversity of experience is invaluable for professional development. You can only grow when challenged by new situations, new people and new environments. Working overseas completely tests one’s ability to adapt and respond to change and difference. For me, working overseas in places like Silicon Valley and Sydney exposed me to much larger capital markets than in Dublin, more complex corporate structures and different cultures. This challenged and enhanced my experience, ensuring I continued to learn and develop throughout my career. As change is the only constant, you must remain open to change and continually adapt your managerial style. But if you are thinking specifically of working overseas, my one piece of advice would be to back yourself. Don’t be afraid to change direction; talented people will succeed anywhere in the world. Matthew Britton Title: Manager, Financial Planning and Analysis Company: Abu Dhabi Investment Authority Location: Abu Dhabi   During my four years in Abu Dhabi, I worked for a sovereign wealth fund. The role involved running the strategic financial planning process, evaluating investment projects and providing management with performance insights. My team boasted 11 nationalities and the company itself employed people from 65 countries. This in itself was incredibly interesting, but it was also very rewarding from a communication perspective.  Navigating cultural nuances and understanding how to influence effectively in a diverse environment has certainly benefited my career. In addition, the mission of the organisation is to secure the wealth of future generations so in a sense the “shareholders” are not even born yet. This brings with it a very different mindset to that of a PLC and learning to adapt to that culture – and, more importantly, to respect that culture – was a valuable learning. My top tip There is an understandable tendency for Irish people to gravitate towards other Irish people when living and working overseas, but being overseas gives you a great opportunity to develop a wider international network – something that needs to be nurtured from an early stage. Margaret Berney Title: Senior Financial Analyst Company: Tarion Warranty Corporation Location: Toronto, Canada Moving to Canada certainly pushed me out of my comfort zone, both professionally and personally. Learning from a new culture has expanded my skillset to that point that I now excel in my role and work extremely well with all colleagues, irrespective of their nationality or background. The move also impacted my outlook on work as I no longer see difficult situations as a challenge. I tackle them with confidence and this is perhaps attributable in part to the new environment I work in and the different philosophies and approaches I encounter each day. The only thing I would do differently in terms of my career overseas is to do it sooner. My top tip If you have an inclination to work abroad, follow your gut instinct and make it happen. Most won’t regret the decision and even if it doesn’t work out, you can always move home having learned from the experience. You can read more about living and working overseas in Chartered Accountants Abroad, the publication from Accountancy Ireland for Chartered Accountants Ireland members abroad.

Aug 06, 2019
Press release

Chartered Accountants Ireland launched its online Boot Camp programme to support Senior Cycle Accounting students at an event in Dublin on Tuesday. The programme, which is also being launched at events in Cork and Sligo as part of Chartered Accountants Ireland’s annual school engagement, is designed to help build a strong foundation in the fundamentals of accounting and will give students an understanding of what it’s like to be a professional accountant. Pictured are (L to R): Ian Browne, Deputy Director of Education at Chartered Accountants Ireland; John Munnelly, FAE Paper Development Executive at Chartered Accountants Ireland; Orla Aherne, Marketing Executive at Chartered Accountants Ireland; and Brian Feighan, ProTutor and creator of Boot Camp. The programme is currently open for enrolment. It is free for teachers and only €10 for students. To find out more about Boot Camp, please visit: https://chartered-bootcamp.teachable.com/ Recent independent research highlighted concern among accounting teachers that the new Junior Cert Business Studies syllabus does not adequately prepare students for Senior Cycle Accounting. This is despite the growing popularity of the subject at Leaving Cert level with almost one in every seven students now choosing accounting in Senior Cycle. Boot Camp solves this problem by providing an easily accessible online programme that teachers can run in their classrooms. Students who join Boot Camp can also take part in the Boot Camp Challenge, a national competition which gives students a chance to test their business smarts in a real-life business simulation. The regional and national winners of the challenge will be honoured at a special ceremony at Chartered Accountants House in May 2020. Ian Browne, Deputy Director of Education at Chartered Accountants Ireland, said: “It is great to see so many accounting teachers have already signed up to the Boot Camp programme and we look forward to welcoming many more in the coming weeks. Ultimately, our goal is that every student who chooses accounting for the Leaving Cert will benefit from the skills they will learn in Boot Camp and get a flavour for the profession.” Brian Feighan, FCA founder of online learning portal, ProTutor and the creator of Boot Camp, said: “Digital learning is fast becoming an essential part of the student experience in second level. Practical subjects such as accounting are a perfect fit for this trend. Under the guidance of their teachers, Boot Camp will help students master the fundamentals of accounting and develop their understanding of how to use financial information to make smart business decisions. We hope that Boot Camp will set the next generation of business leaders on their paths to success.” ENDS For editors About Chartered Accountants Ireland Chartered Accountants Ireland is Ireland’s largest and longest established professional body of accountants founded in 1888. The Institute, which is an all-island body, currently represents over 27,000 members around the world.  Reference Fiachradh McDermott | Gibney Communications | 087 655 7070 | fmcdermott@gibneycomm.ie Rachel Pattison | Chartered Accountants Ireland | 01 5233927 | Rachel.pattison@charteredaccountants.ie    

Nov 14, 2019
Tax

A lack of affordable housing coupled with a lack of supply in the wider market has resulted in the housing crisis continuing into another budget year. In an attempt to alleviate this crisis, the Minister promised to increase capital spending on all housing measures to €2.5 billion in 2020. Many of the measures are aimed at fixing supply issues, with the taxation measures involving the extension of the Help to Buy Scheme to 31 December 2021 and an extension of the Living City Initiative to 31 December 2022. Help to Buy Scheme In his speech, the Minister announced that he will be extending the Help to Buy (HTB) scheme in its current form to 31 December 2021. The HTB scheme provides for a refund to first-time buyers of income tax and deposit interest retention tax (DIRT) that they have paid over the previous 4 years (up to a maximum value of €20,000) to go towards the deposit on a house.  Social and affordable housing €1.1 billion has been allocated for the delivery of 11,000 new social homes in 2020. A further 12,000 units are to be delivered in 2021. An extra €80 million will be allocated for the Housing Assistance Payment in 2020 to provide an additional 15,750 new tenancies. An additional €20 million will be provided for homelessness services in 2020. €17.5 million is being provided to the Land Development Agency and €186 million is being allocated for the Service Site Fund and local infrastructure housing activation in 2020. €130 million in urban regeneration and development funding is being allocated for 2020 to support the rejuvenation of Ireland’s five main cities and other larger towns. €2 million has been allocated to the Residential Tenancies Board to support their increased powers to investigate and sanction non-compliance with rent pressure zone measures. Living City Initiative A scheme of property tax incentives for the regeneration of certain areas in Cork, Dublin, Galway, Kilkenny, Limerick and Waterford, this initiative will be extended in its present form until 31 December 2022.  This is tax relief is available for money spent on refurbishing or converting residential or commercial properties in these areas.

Oct 08, 2019