As the founder of Bleeper, the Dublin-based bike sharing venture, Hugh Cooney, FCA, is playing a crucial role in supporting and promoting sustainable travel in the nation’s capital A 2016 trip to China prompted a career change for Chartered Accountant Hugh Cooney who would go on to launch Bleeper, his Dublin-based dockless bike rental start-up, the following year. “It was when I was in China that I saw the world’s first standalone bike-sharing scheme,” Cooney explains.  “Up until then, it was all bikes at fixed locations. These standalone bikes each had smart locks which were opened by an app. I really liked the concept, and I spent the next four months or so looking at how to bring it to Ireland.” Path to accountancy His foray into sustainable entrepreneurship wasn’t Cooney’s first career shift. Prior to his 2016 trip to China, he had already lived in Shanghai for five years, working for property developer Treasury Holdings, before returning home to train as a Chartered Accountant. “I moved back to Ireland in 2010. The jobs market was tough at the time due to the global financial crisis. I didn’t want to stick with the property business and decided to add a qualification to my CV. I had always been interested in accountancy and had studied it at college,” he says. “I saw that Chartered Accountants Ireland had launched its Elevation Programme in 2009 to enable people to become Chartered Accountants without a training contract.  “I thought it would be perfect for me and signed up for it in 2010. I got a job in PwC’s corporate finance division, did my Final Accounting Exams in 2013 and became a qualified Chartered Accountant.” A subsequent role with KPMG saw Cooney working on aspects of the Irish Banking Resolution Corporation (IBRC) administration.  “I joined KPMG in 2014 and worked on the sale of IBRC non-performing loans in their transaction services division. We had to get the loan book into a condition where buyers were happy with the information provided,” he says. Then came that lightbulb moment in China and the launch of Cooney’s Bleeper business: “I left KPMG in April 2017 and Bleeper opened for business soon after,” he says. The birth of Bleeper The name for Bleeper came to Cooney one day as he was walking past the Luas stop on Dublin’s Harcourt Street.  “I heard the ‘ding ding’ sound of the Luas. The bikes make a bleep sound when they are unlocked, so I decided to call it Bleeper.” Start-up finance came from a mix of sources. “At the start, I had a joint venture with a Chinese company. They contributed the bikes and I raised money from friends and family as well. We started with a thousand bikes and the Chinese company also made the software we used.” Having the bikes, software and finance in place was just the beginning, however. It’s not possible to simply start a bike-sharing business in a city like Dublin without some form of permit or licence.  For Cooney, this ultimately came down to the introduction of a set of bylaws by Dublin City Council.  “Dublin city centre is so complex and there is such competition for road space, Dublin City Council needed to put some rules around it,” he explains, paying tribute to the speed with which council officials and elected members of the Strategic Policy Committee approved the bylaws.  “It usually takes a few years, but they started working on the bylaws in June 2017 and they were approved the following December.” The council then ran a competition for two licences, one of which was awarded to Bleeper. “We were allowed to put our first bike in the Dublin City Council administrative area in June 2018,” Cooney says. Regular Bleeper users can buy a pass, while less frequent users can pay as they go. The pay-as-you-go rate is €1 to unlock the bike and four cent per minute thereafter.  “Our average trip is 17 minutes, and most people pay us €1.68. Under the bylaws, the bikes have to be locked to a public bike rack,” Cooney explains. “We are fined if they’re not locked to the racks, and we pass that on to the customer concerned. There is a chain on the bike which they use to lock it to the rack. Compliance is very good—less than one percent of users don’t follow the rules.” Since its launch, Bleeper has grown to include electric bike leasing and sales divisions. “People can lease a bike just like a car,” Cooney says.  “They pay by the week and can give it back at a week’s notice. We found that some customers want to buy an electric bike, but they are not cheap. The entry level is €2,000 and they can go right up to €5,000.  “We opened a shop on Lower Bridge Street and people can come in and take a bike for a test ride before they buy. Business is good and we’ve been profitable for the last couple of years. We are growing revenue every year and hope to continue on that path.” Mobility Partnership Ireland Bleeper was one of the founding members of Mobility Partnership Ireland (MPI)—a coalition of shared transport providers launched four years ago—and Cooney was recently elected as MPI Chair for the year ahead.  “MPI started with three member firms, including ourselves, Moby and Yuko. We had realised that all commercial operators in the sustainable transport space were meeting the same State officials. It was time-consuming and inefficient. We decided to come together as a collective for lobbying purposes and to promote sustainable transport generally,” Cooney says. Definitions of sustainable transport can vary. “For me, it is anything that is not a single passenger car journey. A car with four people in it isn’t unsustainable. Anything that is not a single occupancy car journey can be sustainable. “If you read the Climate Action Plan, the goal is to enable 500,000 daily sustainable travel journeys by 2030. It’s not realistic to ask people to give up their cars. People have lots of reasons to hold onto their cars.  “But, if it’s a sunny day, we can get them to ask themselves if they need to drive to work that day. It’s not about whether people have a car or an electric vehicle. It’s about the amount of time they use it.” Promoting sustainable transport Cooney believes more should be done to promote the sustainable travel targets set out in the Climate Action Plan. “I don’t see the Government advertising their Climate Action Plan target for sustainable journeys. They need to get out there and break the target down into smaller steps,” he says. Commercially operated sustainable transport services should be supported as part of the this, Cooney adds.  “A lot of people think public transport is publicly owned and funded but there are lots of alternative commercial providers,” he says.  “It needs a bit of a shift in mindset. All of the incentives and subsidies tend to go to publicly owned services, but more consideration needs to be given to commercially operated sustainable transport services.” Since its launch four years ago, MPI has grown to eight member firms, including Aircoach and FreeNow.  “Our plan is to work closely with the Minister for Transport and the National Transport Authority as one group. We want to break down the ‘us and them’ mentality that currently exists,” Cooney says. “We can easily get to the 500,000 trips target in sustainable transport if we all work together, and I believe we can get way more than that if commercially operated sustainable transport services are supported. “We want to work with the government to get more people out of the default habit of jumping in the car for every trip.” It isn’t always easy to get these ideas across to Government, however. “The process of making pre-budget submissions is very costly and time-consuming for businesses,” Cooney points out.  “You don’t get written answers or clarity on why proposals have not been accepted. There should be a downloadable template on the Department of Finance website. That would make it easier for businesses to make submissions and easier for the department to run the process.  “It’s not unreasonable to ask that they make it easier and to give people feedback on their submissions. We have put forward ways of encouraging people to use alternatives to their cars but haven’t got any response.” On a more positive note, Cooney sees lots of potential for Bleeper to grow.  “Less than six percent of people in Dublin commute to work on a bike. In Amsterdam and Copenhagen, it’s closer to 50 percent. The government target for Ireland is 15 percent. Our goal is to play a big role in reaching that target,” he says. Interview by Barry McCall

Martina Goss, FCA, continues to broaden her skill set to support sustainable entrepreneurship and ESG progress in Ireland and beyond Martina Goss, FCA, is leveraging her financial knowledge and expertise in business strategy and lean methodologies to help start-ups and SMEs succeed, innovate and build sustainable strategies aligned with Ireland’s climate goals. Here, she tells Accountancy Ireland about the career path that has seen her pivot from finance to supporting Ireland’s entrepreneurial community and more besides.  Q. What first sparked your interest in sustainability and the whole area of environmental, social and governance?  I have always had a love of nature. I grew up in rural Ireland and, today, I live in the countryside in Co. Louth surrounded by mountains, nature and wildlife.  A few years ago, I pivoted my career away from pure finance to what I do now, offering training and business coaching to start-ups and small and medium-sized enterprises (SMEs). That shift brought me into contact with the United Nations’ Sustainable Development Goals and the entrepreneurs doing amazing things on the ground to progress these goals. I look at environmental, social and governance (ESG) principles in a holistic way. I’m not just interested in nature and climate change, but also in the human aspect—the ‘S’ in ‘ESG’ and, in particular, the focus of the fourth UN SDG on ensuring inclusive, equitable and quality education and promoting lifelong learning opportunities for all. To this end, I began working in 2023 as a facilitator with Global Youth Forum, a non-profit in Kenya that offers life-skills coaching, mentoring and sports programmes to young people with the aim of equipping them with the skills to improve their lives by securing a job or starting a business. Q. Tell us about that career pivot: what prompted it?  I started my career in practice before transitioning into industry where I held financial roles in many different organisations.  Then, in 2015, I did Chartered Accountants Ireland’s first ever Diploma in Strategic Finance and Business Analytics. That was the turning point for me.  By complete chance, while I was looking for a project for the course, I met an entrepreneur who was taking part in New Frontiers, Enterprise Ireland’s national entrepreneur development programme. He had a sustainable business idea for flood defence and wanted support from someone with a business background. I needed an idea for my diploma, so we did this match transaction.  At that stage, I knew I wanted to move beyond focusing solely on the numbers of a business. Fast forward a few years and I became the programme manager of New Frontiers at both Dundalk Institute of Technology and Invent, DCU’s commercialisation and technology transfer unit. Whilst managing that programme, I was introduced, not just to the world of start-ups and innovation but also entrepreneurs building sustainable businesses in alignment with the UN’s SDGs. Later, I reskilled as a Lean Start Up Coach, training with Ash Maurya, the founder of Leanstack in the US. He is the author and creator of the Lean Canvas, a business modelling tool used by businesses worldwide. Q. Can you describe the work you do today and the services you offer?  I work predominantly with start-ups and SMEs, helping them with their business strategy, reimagining their business models and innovating in a sustainable manner, so they can successfully launch or reinvent products and services. My work combines my expertise as a Chartered Accountant and Lean Start-up Coach and increasingly incorporates ESG. Last year, I completed my second course with Chartered Accountants Ireland, this time a certificate in sustainability strategy, risk and reporting. Innovation is a big focus for many of my clients. They understand the world is rapidly changing and they know they need to reassess their business model, but they may feel a little stuck or challenged as to where to start.  They may have new products or services they want to launch, or they might want to adapt what they are already doing to changing customer needs and market trends.  At the forefront of my work is the idea that you must always listen to the market—to what your customers want and the problem you solve for them.   We do a deep dive into their business model. We look at why the company exists—what problem does it solve for customers? What is its vision? What are its goals and strategy to compete?  We look at trends in the marketplace, we talk to the company’s customers and stakeholders. We use that information, both qualitative and quantitative, to reimagine the company’s business model and its products and services. The aim is to create a business model that is financially viable, desirable for its customers and sustainable for the planet.  Q. Where does ESG come into the work you do with these companies?  It comes back to that critical piece in any business strategy—listening to the market trends and responding to customer needs. Developing new products and services is the perfect opportunity to blend sustainability and innovation together into one. More people today are thinking about sustainable products and sustainable business practices because they are concerned about the climate crisis and the need to decarbonise our economies. This is a market trend, so, by embedding sustainable practices into their strategy and operations, start-ups and SMEs can help to ensure long term viability. There is a cost involved at the outset, but it is worth mentioning that, by incorporating Lean practices into their business model, businesses can eliminate costly waste. There is often so much waste in organisations. Lean start-up principles, when applied to new product development, can have a considerable ESG impact on a business because they fundamentally seek to minimise waste.  Q. What would you like to see happen now to support the advancement of ESG in Ireland and beyond?  From my perspective working with businesses, I think what is required to galvanise the ESG movement is a change in mindset. Businesses are run by people, so the shift in mindset is down to the individual—to each and every one of us.  This starts with small changes in our personal lives where we can embrace a more minimalist way of living, consume less and cut down on the excess in our lives. We buy too much. We have too much waste.  The Sustainable Progress Index 2025, published in February by Social Justice Ireland, ranked Ireland ninth out of 14 comparable EU countries overall, but placed us in the bottom five for nine SDGs, including responsible consumption and production (SDG 12). According to Social Justice Ireland, we continue to generate a significant amount of municipal waste per capita, while the recycling rate of our municipal waste and circular material use is low. So, I think we all need to think about our own consumption, and about what we can do to cut down on the waste we generate.  I believe that, if each one of us was just one percent better, the collective impact would be massive. These changes at an individual level can then feed into new businesses and start-ups launched by people with ESG principles at their core, in terms of what they are bringing to market or how their businesses operate with sustainability, minimal waste and other societal benefits at their core.  Critically, as Chartered Accountants, we have quite a vast skill set we can apply to helping businesses delivering ESG benefits. For younger generations, ESG is already instilled in their mindset. They care about the future of the planet, about climate change and a fair and just society.  Businesses today can’t afford to overlook this fundamental shift in what people and the market wants.  Real change comes when you believe in it and work towards it. 

Kate van der Merwe, FCA, has carved out an impressive career in sustainability driven by her passion to effect positive societal and climate change  An abiding sense of adventure and curiosity has guided Kate van der Merwe’s career from accounting to sustainability, and from the corporate realm to the world of nonprofits, as she continues to pursue her passion to effect positive societal and climate change. Originally from KwaZulu-Natal in South Africa’s east coast, van der Merwe studied social science at the University of Cape Town before qualifying in Ireland as a Chartered Accountant and forging a successful career as a sustainability consultant. Driven to explore “I think it’s my background in social science that has made me so curious and driven to explore,” van der Merwe says. “The social sciences have a good dose of curiosity and exploration, but in the early stages of my career, I found myself struggling a bit to find roles in the messy ‘real world’.  “I lived in the UK on a working visa for two years after college and, being a South African, my mobility was restricted. I decided to go into Chartered Accountancy to open doors and cross borders. “At the time, I told my humanities-driven self that finance was the linchpin of economic systems, and it might one day allow me to effect some positive societal change.”  Van der Merwe relocated to Ireland in 2006 to train as a Chartered Accountant with a firm in Dublin. Her qualification in 2009 coincided with the onslaught of the global financial crisis, however, prompting her to return to Southern Africa, where she spent five months travelling around the region. “It really was a case of ‘when life gives you lemons’, because that trip was pivotal for me,” she says.  “It brought me back to my childhood surrounded by so much biodiversity. I was fortunate growing up that, during the holidays, we were able to go to the beach, to the mountains and, every now and again, to the bush.”  “Years later, my childhood experience would also become the driving force behind my interest in the social aspect of environmental, social and governance (ESG) principles. “The apartheid system was still in place when I was at primary school and then Nelson Mandela was released, and we had our first democratic elections in 1994. Those experiences instilled in me an awareness of the importance of social justice and equality.”  Early career Van der Merwe returned to Ireland in 2011 to take up finance roles, first in the pharmaceutical industry and then in the technology sector. “I joined Google and I was immersed in this environment in which values, such as sustainability, were on the agenda. Google was doing interesting work in renewable energy innovation at the time. “Then I received my naturalisation to become an Irish citizen, and that stability compelled me to think about what I could do to become an active participant in bringing about positive change. I started to find my voice.” At the time, van der Merwe says she felt an “urgent sense of responsibility” in the face of the burgeoning climate crisis and global biodiversity loss. She decided to embark on a master’s in renewable energy and environmental finance at UCD Michael Smurfit Graduate Business School, dropping to part-time hours with Google to facilitate her studies. “My master’s marked a sea change for me—a deliberate journey of exploration. The key was finding the strength to speak up about the things that are important to me, and that’s not necessarily easy to do,” says van der Merwe. Once her master’s was complete, she joined Trócaire, where she became Financial Planning and Analysis Manager, supporting the NGO’s carbon measurement and reporting processes, and developing organisational carbon budgets.  “I wanted to return to working with an NGO, on a short-term contract. I was looking for a total contrast to the powerful, cash-rich corporate world—a grounding experience, working in a much more resource-constrained environment. “Fortunately, thanks to my network, a nine-month role came through with Trócaire and I stayed with them for a year-and-a-half. “I really grew with Trócaire. It is an amazing organisation with many passionate, committed people who are so bold in how they approach the change they want to make. That perspective was invaluable.” Transformational projects In the years since—and now on the cusp of taking up a new role with Hometree, the nature restoration charity—van der Merwe has worked as a sustainability consultant, lending her considerable expertise to the advancement of transformational projects at the intersection of finance, social and environmental sustainability. Her advocacy efforts extend beyond this work, however, to a range of voluntary roles, including board member with the Irish Social Enterprise Network and advisory committee member with Friends of the Earth Ireland. Van der Merwe is also a member of Chartered Accountants Ireland Sustainability Working Group. “My approach is to use systems thinking to look at sustainability in a holistic way across a multitude of spaces, and to introduce this concept wherever I have a platform,” she says. “People often think of ESG solely from an environmental perspective, forgetting about the social piece. In actuality, both are highly interdependent and very much impact each other.  “Then, you have to look at the problem of who has a voice and who doesn’t? I am fortunate to have a voice, but others don’t. Often, decisions are made that impact them and they have no influence.” Van der Merwe has just completed a postgraduate certificate in climate entrepreneurship at Trinity College Dublin. “In everything I do today, I think back to that time just before I started my master’s in renewable energy and environmental finance when I felt like I was waiting for other people to come and save us all,” van der Merwe says. “I found my voice and now I want to continue to build my network, experience as much as I can and do as much as I can to change society for the better and support the fight against the climate crisis.  “I think a lot of people are nervous about taking action, or feel, like I did, that others will do it better on their behalf—but, right now, we are at an absolutely pivotal stage.  “The existing system—the old way of doing things—is dying. It is going to change and what we do now will determine the new system that emerges.  “We really need the silent majority to speak up to support ESG. We are the cavalry, and I don’t think we can afford to be complacent, particularly in the face of current developments, such as the backtracking we are currently seeing in the US under Donal Trump’s presidency.” Interview by Elaine O’Regan

NTR’s Marie Joyce, FCA, tells Accountancy Ireland about her career path to  sustainability and hopes and expectations for Ireland’s renewable energy future Marie Joyce, FCA, is Chief Operating Officer and Chief Financial Officer with NTR. Joyce joined the Irish infrastructure investment company in 2004 and was appointed to the role of Deputy Group Chief Financial Officer in 2010, followed by Group Commercial Director two years later. She assumed her current dual role in 2013 and is also an Independent Non-Executive Director to both daa plc and Staycity Group. QTell us a bit about yourself and why you decided to become a Chartered Accountant. Growing up on a working farm in rural Ireland in a family with six children, hard work and commitment were ingrained in us from an early age.  I’ve always been passionate about finance and nature, and I feel fortunate that my career allows me to combine both. That said, my career path wasn’t always clear-cut. I knew I wanted to be challenged every day and work towards something meaningful.  At that time, in 1990s Ireland, the jobs market looked very different to today. Career opportunities were thin on the ground.  I was fortunate to be selected by Arthur Andersen to train with the firm as a Chartered Accountant, and that training would ultimately become the foundation for my entire career. Since then, I’ve had the privilege of working across multiple sectors, from biotech to infrastructure and now clean energy transition.  What excites me most is navigating fast-paced change—whether it’s driving rapid growth, executing mergers and acquisitions or steering high-pressure restructurings.  The common thread in my career has been the ability to adapt, innovate and lead through transformation. Q. What does your work as Chief Operating Officer and Chief Financial Officer with NTR involve?  I have been with the NTR group for over 20 years working across Ireland, the UK and the US. Over the past decade, in particular, I have been instrumental in driving our growth and evolution. My role today with NTR encompasses three main strands of activity: Fundraising and acquisitions: product design (investment propositions), supporting fund launches and fundraising (in particular fund structuring, marketing and legal documents, negotiations and investor due diligence), approval of investment bids and acquisitions. Financial: managing our funds, including governance and risk, and their underlying investments, as well as investor reporting and investor relations.  Operations: managing risk, human resources, public relations, legal, information security and digital transformation. Q. What does NTR do? Tell us about the organisation.  NTR is a specialist renewable energy asset manager with close to five decades’ experience in infrastructure investment and management.  We specialise in acquiring, developing and operating sustainable infrastructure projects, focusing on wind, solar and energy storage across Europe.  We are based in Dublin and currently manage 1.4 gigawatts of energy across 66 locations in seven European countries. We have an additional 500 megawatts in development, totalling €2 billion in invested capital.  Q. What does it mean to you to be part of an organisation with this renewable energy legacy? NTR’s first investment in renewable energy dates back to 1999, so renewables are truly in our DNA.  I’ve always loved the idea of generating power from natural resources—wind, sun and water—without harming the environment.  Growing up in the countryside in Ballymoe, Co. Galway, we lived off the land, growing our own vegetables and raising our own meat, without fully realising the value of this organic, self-sufficient way of life.  As a society, this is what we need to return to—working with nature rather than against it—and I am proud to be part of NTR, an organisation with a longstanding commitment to clean power. Q. How important is Ireland’s renewable energy sector to the future of our economy?  I believe Ireland’s renewable energy sector can be instrumental to the future of our economy and climate goals. The Government’s Climate Action Plan has set targets to reduce Ireland’s greenhouse gas emissions by 51 percent by 2030 and reach climate neutrality by 2050.  These goals are ambitious and the ongoing shift to renewable energy will be crucial in allowing us to achieve them. Russia’s invasion of Ukraine has brought the issue of energy security to the fore for governments across Europe and Ireland is no different. Greater capacity to generate renewable energy ourselves here in Ireland would reduce our reliance on fossil fuel imports, thereby bolstering our energy security. Energy demand is rising, driven by the increasing electrification of an expanding economy and rising population. Renewables are the cheapest form of power available to meet this growing demand. Developing and constructing renewable energy infrastructure also creates direct employment.  Ireland has the potential to become a leader in renewable technologies and energy exports, particularly in offshore wind where we have a seabed 10 times the size of our landmass. Q. What do we need to do now to support the future of Ireland’s renewable energy sector?  At a national level, faster planning and permitting policies are needed for renewable energy infrastructure.  This is a major hurdle today. If our Climate Action Plan targets are to be met, reform of the planning system is urgently needed.  I would like to see national climate targets embedded in local planning policy. If the development of our renewable energy infrastructure were to be viewed as an overriding public interest, the true potential of renewable deployment in Ireland could be unlocked. Our grid needs continuous modernisation to meet the growing demands of the economy and accommodate a growing share of intermittent renewable energy sources, such as wind and solar.  The grid must become more flexible, with greater storage capacity and enhanced interconnectivity with other countries, such as the introduction of new interconnectors like our planned Celtic Interconnector with France.  Q. Who do you most admire in public life today in Ireland or globally?  Pascal Donohoe is a longstanding and skilled politician whose career trajectory I find particularly resonant as we are contemporaries.  His stewardship of Ireland’s economy through multiple crises stands out—from Brexit uncertainties to the COVID-19 pandemic and now, today, we could not be in better hands as he navigates Ireland through US President Donald Trump’s tariff war. His competence combined with measured, thoughtful communication are qualities that have become increasingly valuable in our current era of political polarisation.  Unusually for a politician, he also generally directly answers the questions that are put to him. Q. What are the three most important lessons you have learned in your own career?  The three most important lessons I’ve learned are: You are yourself and that is good enough—embrace your unique strengths, perspectives and style. A smile never goes astray—a positive attitude and a warm approach goes a long way. Enjoy the journey—life is short, celebrate the wins, get enough sunshine. Q. What advice do you have for Chartered Accountants starting out in their career today? Qualifying as a Chartered Accountant provides invaluable professional training that will set you up for life.  When I started my own career, I thought I was simply going to become “an accountant”.  However, what my training actually gave me were the skills to become a rounded business professional. As my career has progressed, I have been able to extend those skills into shaping, running and advising businesses.  The biggest surprise for me, looking back, is the realisation that my greatest career progress has often come about when things haven’t gone to plan.  Those challenging situations that pushed me outside my comfort zone—forcing me to grow, adapt and develop new skills—were pivotal in taking me to new levels, especially as a woman in finance and infrastructure—which, 30 years ago, was very much a man’s world.  So, my advice to those starting out today is to do your very best, enjoy the experience—and don’t be afraid to ask questions or put your hand up if you think something is not right.  

Fastcom Managing Director Lorraine Gribbons, FCA, reflects on her journey from auditing to leading a regional business, championing gender equity in leadership and the challenge of achieving work-life balance in the fast-moving telecoms industry I became Managing Director of Fastcom over eight years ago, bringing with me my background in Chartered Accountancy and a deep-rooted passion for driving business growth.  My foundation as a Chartered Accountant, with its emphasis on strategic thinking, attention to detail and problem-solving, proved instrumental as I transitioned into the telecoms sector.  Although I hadn’t initially envisioned a future in this industry, I found myself increasingly drawn to the challenge of scaling a regional business on a national level.  This challenge became my mission: how to expand Fastcom’s footprint across Ireland while remaining true to our Sligo roots.  I am very proud of the company’s achievements. Under my leadership, Fastcom has grown into one of Ireland’s most flexible telecoms providers, built on a foundation of innovation, regional pride and dedicated commitment to customer care.  My focus is on positioning the company as one of Ireland’s top technology leaders—not just in terms of the services we offer, but also in how we lead, innovate and support our people.  This includes continuing to break barriers—for women in leadership, regional businesses and anyone who dares to grow beyond what’s expected.  Robust career pathway As far back as I can remember, accountancy was what I wanted to do. I’m not sure where that came from, but it was always on my radar as the route I wanted to take and the qualification I would ultimately achieve.  I attended school in Sligo and then went on to study Business, Economics and Social Studies at Trinity College Dublin.  I had worked in an accountancy practice in Sligo in the summer following my first year at college and then went on to complete a summer work placement organised by Trinity after my third year, in the audit department of KPMG in Dublin.  This experience gave me great insight into what the trainee programme would be like and I started my training contract with KPMG after completing my degree the following year.  Qualifying as a Chartered Accountant gave me excellent education and training, providing valuable insight into business operations and a robust pathway for career progression and opportunities.  Once my training contract was completed, I decided to move back west to Sligo, where I worked as an Audit Manager with Gilroy Gannon for over 10 years before transitioning into industry with Fastcom. I became the company’s Managing Director soon after the move.  Women in leadership: moving beyond the exception Moving from the world of finance and accounting into telecoms, I’ve worked in two industries where women in leadership were once the exception, not the norm.  I’ve seen some progress in gender equity over the years, but it is slow, and there is definitely room for improvement.  I recall my accountancy training days, when many of the more junior staff members were female, but the senior roles were nearly always male-dominated. There are certainly more women at the top table now, and the conversations are evolving, but there’s still work to be done.  I would love to see more women in senior roles across all industries, as well as increased support at key transition points in a woman’s career, such as returning from maternity leave or aspiring to leadership.  Family responsibilities also play a part in the progress of gender equity, as balancing these with an evolving career can be a challenge.  Helping others reach their potential Mentoring and networking have played a huge role in my career, even if not always in formal ways.  I have been fortunate to have had people whom I could look to for mentorship; they have given me honest feedback and encouragement when I’ve needed it most at all stages of my career. Just as importantly, I’ve always believed in helping others reach their full potential in their own careers, wherever and whenever I can.  Networking, too, has opened unexpected doors, whether through industry events, local business groups, education sessions or informal chats over coffee.  The moving target of work-life balance Work-life balance is a bit of a moving target, isn’t it?  For me, it’s not about getting it right every day as I don’t think that’s possible. Some weeks are more work-intensive, while others allow for space to recharge.  My biggest challenge is switching off, as I find this very difficult to navigate.  When running your own business, you’re fully invested, and this sometimes spills over into downtime. For me, it does depend on what’s happening at work and how pressing any issues might be.  It’s something I know I always have to keep working on and be very conscious of.  As great as technology is, especially when working in a technical industry, the ability to disconnect from your phone and emails is vital during personal time.  I have learned over the years that rest is just as important as work for long-term success. You need to be able to refuel yourself to keep going and bring your best to the business.  With three children, my own “rest time” is still busy, but it’s  great for distracting me from the office and what’s going on at work.  Learning from your own team Over the years, I have found real value in professional development programmes, leadership courses and peer learning. Sometimes, though, the most impactful learning comes from within your own team.  Listening, collaborating and remaining open to diverse perspectives has enabled me to grow and develop personally.  I am always reading a wide variety of business materials and books to gather ideas for Fastcom and for myself personally, so that I can continue to thrive. Interview by Liz Riley  

Is the environmental, social and governance movement in decline? We ask three of our Chartered Stars, each recognised for their outstanding work in support of the United Nations’ Sustainable Development Goals, for their take on the future of ESG Evan O’Donnell Chartered Star 2024 Accountant with Avery Dennison   As a Chartered Accountant, I view the future of sustainability through both a financial and ethical lens.  Sustainability is increasingly becoming a key pillar of business strategies, and I believe that over the next decade, it will shift even more from a niche concern to a mainstream priority.  Companies and governments will need to integrate sustainability into their financial reporting, with transparent disclosures on environmental, social and governance (ESG) metrics becoming standard practice.  The rise of green bonds, sustainable investing and carbon accounting will drive capital towards businesses that align with sustainability goals, creating a clear incentive for corporations to adopt responsible practices. Looking ahead, I hope to see a world in which sustainability is embedded in every financial decision.  Businesses should not only focus on reducing their environmental footprint but also consider the social equity and long-term resilience of their operations.  This shift will require a redefinition of value, where profit is measured alongside positive social and environmental impact, creating a more balanced approach to growth. The current transitional period in geopolitics presents challenges, however. With some countries backtracking on sustainability efforts, there is a risk of fragmentation in global initiatives.  While international collaboration is essential, the rise of protectionist policies and divergent priorities may hinder the overall progress of global sustainability targets.  As a result, I expect businesses to face increasing pressure to navigate this geopolitical uncertainty, balancing national interests with global sustainability standards. In the future, we will likely see greater local innovation in sustainability, with businesses and governments in different regions leading by example.  While there are challenges ahead, however, the growing recognition of the financial value of sustainable practices gives me hope that we will continue to move towards a more sustainable and inclusive future. Peter Gillen Chartered Star 2023 Sustainability Reporting Manager with AIB   In the future, I hope to see further consolidation of global sustainability reporting standards to simplify implementation for companies. While progress is being made, however, challenges remain. Existing EU legislation, such as the Corporate Sustainability Reporting Directive (CSRD), Corporate Sustainability Due Diligence Directive (CSDDD) and EU taxonomy for sustainable activities, continue to evolve. At the same time, new measures are emerging, such as China’s recently introduced corporate sustainability reporting standards.  Continued global engagement on consolidating these is critical to encourage more companies to report against these standards. Given recent geopolitical shifts and the decision by some nations to scale back their sustainability efforts, I was initially concerned all the progress made would be undone.  However, European companies increasingly recognise the “business” rationale for sustainability, no longer viewing it simply as altruism.  Even companies outside the CSRD’s scope should still see the benefits of managing climate risks, such as rising temperatures and sea levels.  This isn’t about pandering to a “woke” environmental, social and governance (ESG) agenda, it is about ensuring the long-term viability of one’s business. Despite the recent wave of anti-ESG sentiment, there are some who are refusing to accept calls for ESG to be omitted from investment decision-making.  In the UK, for example, the People’s Pension (one of the UK’s largest pension funds) recently moved £28 billion in assets from the US asset manager, State Street, noting that it wished to prioritise sustainability, active stewardship and long-term value creation for its near seven million members.  It remains to be seen whether other funds will follow suit.  I hope funding for pro-ESG funds continues to grow; not for political reasons, but to protect the financial futures of those whose pensions and savings are managed through funds.  It will also be interesting to observe whether asset managers continue to support ESG publicly or remain silent to avoid criticism (i.e. greenhushing). Fiona Hanafin Chartered Star 2022 Associate Director, Sustainability Advisory, Grant Thornton Sustainability is evolving from being viewed merely as a compliance requirement or ‘tick box’ exercise to a strategic driver of long-term business success.  I believe businesses that are proactive in addressing sustainability-related risks will gain a competitive advantage and thrive in an uncertain world.  Climate change continues to intensify at home and abroad, and businesses need to identify and address their individual physical and transition risks.  We’ve seen how extreme weather and floods can damage infrastructure and disrupt supply chains while shifting regulations create uncertainty.  To address these risks and build resilience, companies should adopt sustainable practices within their operations and integrate sustainability into their core values and decision-making processes.  Future-focused businesses that adopt sustainability, including social considerations within their strategy, will benefit from greater appeal among talented employees and environmentally conscious consumers. I hope business leaders across Ireland and Europe continue to embrace sustainability as a driver of growth and innovation. There are opportunities to be seized by reducing carbon footprints, adopting green technologies, diversifying supply chains and prioritising responsible stewardship.  Despite all the noise (regulatory and political), the fundamentals of sustainability have not changed. We are living beyond our means; our society needs to change.  Although the sustainability agenda has faced setbacks in some regions due to regulatory and political backlash, the global trend towards adopting sustainability initiatives and reporting continues to progress.  Investment in the energy transition remains strong, cand despite the proposed delay to the introduction of the Corporate Sustainability Reporting Directive in the European Union, many companies are collecting data to ensure the availability of decision-making information.  Those aiming for long-term success will recognise that the broader global momentum driving sustainability is fuelled by market demand and risk mitigation.  With a well-informed sustainability strategy, businesses can protect their bottom line while making a positive global impact.

Pinergy founder Enda Gunnell, FCA, set up his renewable energy start-up in 2012, playing a crucial role in laying solid foundations for Ireland’s sustainable future Groundbreaking energy transition company Pinergy has grown to generate revenues of more than €250 million in little more than a decade by doing things differently, and founder Enda Gunnell sees more room for growth.  “That’s one of the reasons I want to stay in this industry,” he says. “The Irish energy sector is going through a once-in-a-century change and, with this level of change, there is always opportunity.” Embracing change is nothing new for Gunnell, who left behind a highly successful career in practice to set up Pinergy in 2012.  He had initially come to accountancy “through the usual route”, he says. “I qualified with a B.Comm from University College Dublin (UCD) in 1989 and did the recruitment milk round, before being taken on by Mazars.  “That was the last year the B.Comm exams were held in the autumn, and I had had enough of university by that time.” Gunnell didn’t yet know what lay in store, however. “I started my training contract with Mazars and within a fortnight I was back at UCD working on their audit,” he says.  “I spent 23 years with Mazars and was involved with UCD in one way or another for quite a bit of that time. The university then became my landlord when I founded Pinergy.” Gunnell had played a role in helping UCD acquire a building adjacent to the Beech Hill Office Park and helped to develop a strategy to host partnership ventures with industry. “They had some spare space and that was our first office,” he says. Having started his career with Mazars, Gunnell later moved into consulting.  “I thoroughly enjoyed my time with Mazars. I got great exposure to a wide range of clients across different sectors, including large corporates, institutional clients and a lot of owner managed SMEs.  “I was partnering with owner managers who had 50 or 60 people working for them but had no one to talk to. I was that person.” Having been a Partner with Mazars for close to 10 years, Gunnell decided the time was right to try something new.  “I was probably looking for opportunities for a few years by that stage,” he says. “I had got a bit disillusioned with professional services and the timesheets, chargeable hours and so on. Some of the projects I found interesting were not the type of things to earn high fee income in the short term.” At the same time, Gunnell was working with owner managers, helping them to build their businesses. They were, he says, “good people”. “I found myself thinking I would love a chance to do that myself. I hadn’t really thought about what type of business I wanted to go into, I just wanted to get out there and do it.” Entrepreneurial start: the early days The year was 2012, Gunnell was 43 years of age and a Partner with Mazars.  “I figured someone would give me a job if it didn’t work out. I was open to that risk,” he says. Ireland was in deep recession at the time in the aftermath of the financial crash and Gunnell spotted an opportunity in the fledgling pay-as-you-go electricity market.  “The energy regulator was putting pressure on the electricity suppliers not to cut people off, if at all possible,” he explains.  “One of the solutions chosen was to install pay-as-you-go meters in debtors’ homes and collect the arrears through the homeowners’ electricity credit purchases.” Gunnell’s approach was somewhat different. “We used the same technology, but differently. We went into the ‘lifestyle choice’ end of the market,” he explains. “Our market was people who wanted help budgeting. We used the technology to bring the same customer experience people had become used to with pay-as-you-go mobile phone accounts.  “Ireland didn’t have a pay-as-you-go electricity market up until then.  “In the UK, 15 percent of the market was designated as pay-as-you-go and, in Northern Ireland, it was much higher than that.” Although Ireland’s electricity market had been deregulated since the late 1990s, getting a licence to supply power was not easy.  “They said they welcomed competition, but I wasn’t sure if they were really interested in small start-up players like Pinergy,” Gunnell says.  “We partnered with an existing licencee initially and got our own licence from within the industry after that. We are now one of about seven national players in the market.” The licence was just the start. Power supply is a highly capital-intensive business.  “I was very fortunate to have the support of a high net worth individual in the early years of the business. I didn’t have the financial wherewithal to do it myself,” Gunnell says. “At that time and for a long number of years, half my time was spent growing the business and the other half was spent raising the money to fund the growth.” Raising money in Ireland post-crash was no easy task.  “The banks became too conservative. No doubt they gave out money too easily to property developers, but they went to the other extreme after that.  “We did everything to raise finance, from placing ads in newspapers to issuing our own loan notes. It was real shoe leather capital.” Pinergy has evolved considerably in the years since. “The industry is very old-fashioned. Customer loyalty is not rewarded,” Gunnell says.  “The incumbents sign people up for 12 to 24 months at a discount and then jack up the prices. That encouraged people to switch to get a discount somewhere else. We decided to do things differently and run the business from the customer perspective.  “We embraced technology. We were the first electricity company to embrace smart meters.  “Customers didn’t have to go to a shop; they could buy credit online or on their phone and it would go straight onto the meter, while being able to see their consumption on an app.” Paris Climate Accord  The Paris Climate Accord in 2015 gave added impetus to the firm’s growth. “A smart meter is an energy efficiency device. The average home wastes 20 percent of its energy. Smarter users use less,” Gunnell says. “We were a challenger brand and wanted to sell less electricity to customers. The incumbents were in the business of selling kilowatts, but how can they help save energy when their business models are built on selling as much of it as possible?” Pinergy then broadened its offering by going into business with other energy technology providers in areas like micro wind, solar, LED lighting and data services.  Two of those partnerships in the solar PV and data areas are now Pinergy subsidiaries. Energy efficiency and ESG reporting  The next pivot came with the company’s move into the commercial market. “There is only so much you can do in a domestic household. We used our capability in smart metering to bring a new offer to the commercial market,” Gunnell says. “We were able to supply data on consumption along with green, renewable power.  “We help our customers understand their power consumption and why they are using more than you should at different times.  “Our business is about energy efficiency. We are supporting customers through the energy transition and providing them with the data they require for emissions and environmental, social and governance (ESG) reporting.” Commercial business now accounts for 90 percent of the Pinergy portfolio.  “We pulled back a little bit from the domestic market. The State was rolling out smart meters anyway. There was no point in us duplicating that effort,” Gunnell says. Next phase of growth: energy generation Pinergy is about to embark on the next phase of its growth journey following the acquisition of a majority stake in the business by Sojitz group, the Tokyo-based multinational.  Sojitz has acquired the holding of long-term shareholders, the Coates family. “We wouldn’t have been able to achieve our growth ambitions without our previous majority shareholder,” Gunnell says. “The Coates family have been phenomenally supportive of the company and the management team over the years.  “Without their support, we might not have been able to keep going during the energy crisis and we are eternally grateful for that.  “But, to keep going and moving forward in a capital-intensive industry like ours, we need access to funds that can’t be provided by a family office.  “The Sojitz group is a huge company with 25,000 employees and is listed on the Tokyo stock exchange.” Gunnell’s ambition now is to see Pinergy evolve into a vertically integrated company with capacity to generate its own renewable energy.  “To get involved in that in any meaningful way you need hundreds of millions of euros,” he says.  “Sojitz has been in Ireland for 10 years and already has a generating capacity of of almost 250 megawatts. “They are on the same wavelength as us and share our philosophy about partnering with customers in ways that make everyone more sustainable.  “We will now be able to start building our own generating assets.  “We will also broaden out to a dual fuel offering as well as broaden the energy services capability within the business.  “When we have our generating asset base in place, we want to move back into the domestic market.” The future of sustainable energy As Gunnell sees it, the future of energy is all about sustainability. “Energy providers have a key role to play in our sustainable future,” he says. “In the past, it was about supplying power generated by burning dirty fuel. In the future, it will be about minimising consumption of clean, green, renewable power.  “We have been embracing the sustainability agenda at Pinergy for the past 10 years. We will continue to support our customers through the energy transition and help them meet their sustainability and ESG reporting obligations.” Interview by Barry McCall

Colette Devey, Risk Consulting Partner, Chief Risk Officer and Consumer Sector Lead with EY Ireland, talks us through her impressive career path and some of the important lessons she has learned along the way. Colette Devey was appointed Chief Risk Officer at EY Ireland in September 2024. Devey also leads EY Ireland’s Consumer Products and Retail Practice and is a Partner in the firm’s Risk Consulting Business. She joined EY in 2003 and became a Partner in 2019. Tell us a bit about yourself and why you decided to become a Chartered Accountant? I grew up in Raheny in Dublin and attended Manor House School before moving on to University College Dublin. I chose a degree in business and legal studies because I felt it would offer promising career options in both the legal and finance fields. Initially, I thought I would become a lawyer, but over the course of my four-year degree, I realised my strengths lay in business and finance. This realisation led me to choose a career in finance, joining the assurance practice of a big four firm in London to train as a Chartered Accountant and working with clients in the financial services sector. How has your career evolved from qualification through to your current role with EY Ireland? After qualifying, I spent two more years in London, building my experience and learning to manage client engagements. It was an exciting time to be in the city and I was very lucky to have college friends who moved over at the same time. There was a great Irish gang of us all together. The work environment in which I began my career was very different to today. My work was 100 percent client- or office-based with much less technology and it was still quite male-dominated. The firm had just two female partners at the time and, in many of the teams I worked on, I was the only woman. After five years in London, I was ready for a change and moved to Sydney, Australia, for two years. It was there I first had the opportunity to work as a consultant, rather than an auditor, and I immediately knew this was the area I wanted to progress my career in. As a Risk Consultant, I discovered I enjoyed the operational aspects of businesses, from the shop floor or factory site through to profit and loss and the balance sheet. This role allowed me to leverage my core accounting skills while also gaining deep knowledge in process, risk and controls, and I have since continued to build my career in this specialism. I joined EY Ireland in Dublin in 2003, then spent 15 years in consulting with EY UK. After returning to Dublin in 2022, I took up the position of EY Ireland Consulting Partner and Consumer Sector Lead. In this role, I work extensively with local and international businesses in the agricultural, consumer products and retail sectors, helping them navigate a rapidly changing landscape driven by evolving consumer behaviour, regulatory changes and emerging technologies, such as artificial intelligence (AI). I also lead our work on the Irish EY Future Consumer Index, which tracks changing consumer sentiment and behaviours bi-annually, identifying new trends and emerging segments. Talk us through your day-to-day work as Chief Risk Officer with EY Ireland. My role as Chief Risk Officer is very broad and complements my continued service to clients across our 150-strong Risk Consulting team here in Ireland. My team and I focus on ensuring EY Ireland manages and mitigates a number of key risks. This can range from data privacy and protection—where we work closely with colleagues on our legal team to assess the data risks arising from the introduction of new technology, notably AI—through to assessing the implications of external events. This might be social or, as in more recent months, weather-related. On top of day-to-day matters, there are also times when we have to react quickly to protect the firm, our people and our clients—from cyber risks, in particular. As an example, when the CrowdStrike software update caused significant outages globally, we had to immediately consider what impact this might have on our clients. Thankfully, in this instance, the impact was minimal. What do you enjoy most about your current role, and what are the challenges? What I enjoy most is the variety and this has continued to be the case over the course of my entire career to date. No two days are the same. My team and I need to be very agile so that we can quickly reprioritise activities and plans based on changing circumstances. This also brings challenges, such as tight deadlines or the need for fast decision-making. In my experience, however, these challenges are easily overcome when there is a strong and aligned team working together and communicating effectively. This is something I am very grateful to have with my current team. Are you glad you made the decision to qualify as a Chartered Accountant at the start of your career? Yes, without a doubt. My qualification as a Chartered Accountant has opened many doors and opportunities for me throughout my career. It has been foundational to the work I do with my clients, whether that is delivering internal audit services, transforming governance, risk and internal control frameworks, or supporting the implementation of Sarbanes-Oxley Act (SOX) requirements, mandating strict reforms to improve financial disclosures and prevent accounting fraud. Although much of this work focuses on strategic, operational and compliance risks, we are never too far away from considering the financial impact on the business. Did you have a career plan starting out? How have your career goals evolved in the years since? If I am completely honest, no, I didn’t set out with a long-term career plan. I knew I wanted to become a Chartered Accountant and work for organisations offering opportunities for career progression, alongside enriching professional and personal experiences. I didn’t set out with the end in mind and could not have imagined some of the opportunities I have had along the way, including working with incredible clients, fantastic teams and on exciting projects while also being able to live and travel all over the world. In the early part of my career, my approach was to say ‘yes’ to every opportunity that came along. In more recent years—and particularly since I set myself the goal of becoming a Partner—my goal setting has become more deliberate and focused. I want to keep growing and developing my professional experience and expertise, while also creating opportunities and experiences for my team and colleagues. Tell us about the most important professional lessons you have learned in your career. The three most important professional career lessons I have learned over the years are: Be the role model for others you would have wanted for yourself. Listen to those around you and take their feedback on board—but, ultimately, you have to trust and believe in yourself. Most importantly, never forget that clients are individuals with their own aspirations and plans. Developing strong relationships at a personal level, as well as professionally, typically leads to healthy, trust-based and long-term client relationships. How has the role of the Chartered Accountant evolved since you first joined the profession, and how do you think it will change in the years ahead? The biggest change I have observed in our profession relates to technology and how it continues to impact the work we do. First, there is the role technology plays in business, creating risk, but also opportunity. Second, technology is now key to delivering accounting, auditing and consulting services. When I first started with a big four firm in London, we didn’t even have individual laptops. Instead, each engagement team had just one Mac computer, which came with its own wheely bag. The most junior person on the team (i.e. me) had to bring it to and from the office and client sites! Times have changed so much since then, and I believe technology—in particular, data—will continue to play a critical role in our profession’s future development as emerging technologies, including AI, become even more prominent in business, accounting, risk consulting and wider society. What advice would you offer young Chartered Accountants about forging a successful and fulfilling career? My advice would be to take the time to truly understand your strengths, consider where and how you want to grow and develop professionally, and identify the roles that will give you energy and motivation while also allowing you to be your authentic self. With these strands in place and the Chartered Accountancy qualification behind you, you will be in a strong position to grasp opportunities for a rewarding and enriching career. What are your career plans from here on in? That is a very good question! With EY’s new global leader, Janet Truncale, and our ‘All In’ global strategy in place, there are many exciting developments ahead. For now, my focus is on my clients, growing our business and developing the teams I work with, as well as ensuring we manage and mitigate the risks we face as a firm. These responsibilities are more than enough to keep me busy for the time being, but I am always open to new experiences and opportunities, so I will keep an open mind as to where my career will take me in the future—as everyone reading this should.

Resilire founder Joyce McCarthy, FCA, is helping scaling organisations embed a sustainable growth culture that supports people and boosts resilience “Recalibrate. Resolve. Rise.” When Joyce McCarthy launched her HR advisory and coaching firm Resilire in September 2024, she knew exactly where her focus needed to be. Inspired by her own experience re-evaluating her career and life priorities in response to events beyond her control, McCarthy resolved to use this very personal insight to help others prepare for, overcome and learn from professional challenges and setbacks. “Resilire comes from the Latin word for ‘resilient’. When I decided I wanted to set up my own business and work for myself, there was never any doubt about what my focus would be; I knew it had to be about helping people to embrace change and build resilience to achieve their goals.” McCarthy had begun her own career training in Dublin as a Chartered Accountant before moving into banking, first in Australia and then the UK, where her career focus shifted first to sales and then to people and performance management, and organisational culture. “When I moved to London, I started a new job at a large organisation managing a big team and leading innovation in people management,” McCarthy says. “We were overseeing all aspects of performance management from metrics to bonuses, rewards and recognition schemes, and really focusing on how to innovate and improve this whole area. “That was when I started to think seriously about what the culture of an organisation really means, and the level of stress individuals can experience when they are under pressure to perform.” McCarthy “absolutely loved” her work and was delighted when she was promoted to director level and selected for fast-track progression through the organisation’s senior ranks. “Then, I got pregnant. I had just started my new role and I didn’t want to have to go on maternity leave, but I remember the doctor saying to me, ‘You need to prioritise your health and your pregnancy now,’ and that was a shock to me at the time.” McCarthy endured a difficult birth and serious complications with the arrival of her first child. “I was recovering when I was told my employer was carrying out a cost-cutting exercise and essentially downsizing,” she says. “I felt I needed to rush back to work early from maternity leave to try to claim a chair, but, essentially, the music stopped and I had nowhere to sit.” Losing her job in this way was a shock for McCarthy. “My whole world was completely rocked,” she says. “I had gone back to work before I had physically or emotionally recovered. I already felt vulnerable and then I was told my job was at risk of being made redundant. “At the time, I felt really let down by my employer and that’s when I started to think, ‘I need to be my own boss and never again depend on an employer’. The experience also opened McCarthy’s eyes to the very human cost of high-pressure work environments built solely to service the bottom line. “It gave me a lot of empathy for other people and their circumstances. I went from being really focused on performance, productivity, output and just working really, really hard, to questioning everything and asking myself, ‘am I going too fast here?’ “I was a first-time parent and really unwell for the first time in my life. I had to stop and think, ‘There’s more to life than work; your health and the health of your family is so much more important’.” McCarthy subsequently decided to complete a diploma course in resilience coaching and left London in 2021 to return to Dublin with her husband and young family. She established Resilire six months ago, specialising in talent and performance management strategy alongside executive coaching. “My focus is on supporting scaling businesses to reach their potential by helping them with people and culture goals,” McCarthy says. “This is especially important to me because Ireland is just such an entrepreneurial, relationship-focused country.  “When I came back home, I started building a network of wonderful, supportive entrepreneurial people almost straight away.  “These entrepreneurs and others like them build amazing businesses, but when these businesses reach a certain size, they are going to need to define their own identity from a people perspective, and that’s where I come in.” Culture is key to resilience in any organisation, McCarthy says, and embedding a culture of   psychological safety and trust is paramount in a growing company. “Blame culture really doesn’t support business performance,” she says. “The focus should always be the end goal. As long as you’re focused on that bigger goal, you can absorb and withstand the little mistakes that happen along the way, the things that go wrong and the unexpected events and setbacks. “Ultimately, people need to know that they can be open and honest; that it is safe to raise issues; and that the people around them have their back. “Embedding a ‘test and learn’ environment that encourages people to fail fast with no repercussions actually encourages innovation and boosts performance.” In tandem, it is important for employers to understand that their people are multi-faceted humans with full lives outside work, who are often contending with a whole plethora of competing and shifting demands. “People are not bots; they’re not widgets. They don’t just show up to work to perform a task. Typically, people have a lot more going on in their lives than work, and their resilience can be depleted over time by a whole range of factors, be they family-, health- or money-related. “That is why, I think rightly, we are seeing the people management focus shift towards wellbeing as a holistic concept. “At the end of the day, people want to be seen and supported at work; to feel that they can share their challenges in a safe environment; and to be recognised for their contribution and all the ‘small wins’ along the way. “This is what performance management is really about, I think, and helping companies build a culture that genuinely supports it is my core focus with Resilire.”  

Seamus Parle is leading the way at Rotary Ireland in his role as District Governor of the international organisation on Irish soil, writes Barry McCall. The move to semi-retirement in 2023 allowed Wicklow-based Seamus Parle to devote more time to his voluntary work with Rotary Ireland, ultimately taking on the role of District Governor of the all-island organisation in July 2024. For Parle, the role marks an important milestone in his professional endeavours, allowing him to apply skills learned over the course of a successful career for the betterment of society. “Rotary is dedicated to serving communities both here and abroad, and through its voluntary work, provides an excellent platform for people to develop socially and professionally,” he explains. “Rotary members are people with a social conscience who want to put their skills and expertise into the service of the community. “Whether it’s supporting a health or education project here in Ireland, providing housing for families in Ukraine or funding a water pump project in rural Kenya, Rotary has no shortage of projects for people to become involved in.” Professional career Parle’s professional career began in 1975 with Bank of Ireland. “There weren’t many jobs around at the time. When I left the bank four years later, people said I needed my head examined. But I was studying accountancy at the time, and it was difficult to get to classes in Dublin from Baltinglass, Co. Wicklow, where I was working,” he says. From Bank of Ireland, Parle moved to engineering company TMG Group as an Assistant Accountant. “It was in Wexford and even further away from my classes,” he recalls, “But I got practical hands-on experience of doing accounts and I then moved to Waterford Iron Foundry.” His next move saw him take up a role with Ballyfree Farms in Wicklow. “I qualified as a Management Accountant (CIMA) while I was there. The company was taken over a number of times, most recently by Kerry Group. If I wanted to progress my career, I had to be prepared to move to Tralee or even further afield. Our first child was on the way and that wasn’t for me.” This led to Parle’s move into practice. “I went to work for my friend Cathal Cooney at his practice. The plan was to stay for a year while looking for another role in industry. I was still there 33 years later—I never escaped,” he jokes. “After industry, I found the diversity of practice work very enjoyable. You are involved in totally different assignments from one day to the next. In industry, it’s pretty much the same every day. “After a few years, I realised I wouldn’t be able to sign audit reports as a Management Accountant, so I did the CPA exams to become a Certified Public Accountant. In 2023, we merged with a larger firm which allowed me to retire from the practice.” Parle’s involvement with Rotary dates back to his taking over from Cathal Cooney as Managing Partner of Cooney Parle & Co. Accountants (now GBW Cooney Parle & Co. Accountants) in 2012. “Cathal had always looked after business development while I stayed in the office. I had to step into his role and decided to do some networking, so I joined Rotary,” he explains. Parle became Wicklow Club President in 2014 and Assistant Governor with responsibility for eight clubs in 2016. “I became District Treasurer with responsibility for finance for Ireland in 2018 and, on 1 July 2024, became District Governor for the Rotary organisation on the island of Ireland for a one-year term.” Rotary history and development Rotary Ireland has 1,450 members while the international organisation has 1.2 million members at 35,000 clubs in over 200 countries worldwide. “Rotary was founded in 1905 as a business networking group by four people in Chicago,” Parle explains. “They decided that if each of them recommended each other to their contacts, all the businesses would grow as a result. If you want to recommend someone, you need to know that they will do a good job, so you need to know them quite well. “They met weekly in each other’s offices on a rotational basis, hence the name. The businesses prospered and after a few years, they decided to give back a proportion of those gains to the community.” The first beneficiary was the community in a town outside Chicago. The nearest doctor’s horse had died, depriving the town of access to the doctor. The Chicago Rotary Club solved the problem by buying a new horse for the doctor. The second project was the construction of a new public convenience in the city of Chicago. “Such facilities were quite novel at the time,” Parle says. The Irish connection goes back a long way. “The first Rotary Club outside North America was in Dublin. The ‘Dublin Number 1’ club was founded in 1911 and is still meeting today. That’s the origin story.” Rotary was founded for business and social networking and to provide an opportunity for people to perform community service and for their own self development in areas like project management, teamwork and leadership, Parle explains. “Involvement teaches members about work and life and gives them a different perspective on things. Members also have access to all 35,000 clubs around the world. I was in Brazil recently and had the privilege of visiting the Rotary Club of Copacabana.” Rotary club members are drawn from all walks of life, and each brings something to the table. Accountants can be particularly valuable, Parle points out. “Every club needs a Treasurer. In Rotary, you are dealing with other people’s money, whether that’s the members’ money or money raised through charity fundraising. Accountants have high ethical standards, are skilled at making the most effective use of scarce resources and are seen as a safe pair of hands.” Irish Rotary Club projects Irish Rotary Clubs have been involved in a range of projects in recent years. These include the annual Trees of Remembrance, a Christmas initiative hosted in many shopping centres around the country. “Just over half the clubs in Ireland are involved in that. People can write a note to remember a loved one who has passed on or is ill and can make a donation which usually goes to an end-of-life charity,” Parle explains. Another initiative has seen Rotary Clubs tackle waste at the same time as providing bicycles to schoolchildren in Africa. “A number of years ago, we got €250,000 from the Government’s anti-dumping initiative. We used that to put containers in recycling centres to allow people to dump unwanted bikes,” Parle says. “We bring them to Loughan House and Shelton Abbey open prisons for refurbishment where the prisoners acquire skills in bike maintenance. The bicycles are shipped to Gambia where students might live a two- or three-hour walk from their school. Having a bicycle leads to better educational outcomes for them.” Other projects involve road safety advisory sessions for transition year students in Ireland and the provision of microcredits to people starting businesses in the developing world. Parle also mentions a former winner of Rotary’s Youth Leadership Development Competition—Rotary honorary life member, former Taoiseach and current Tánaiste Simon Harris. “Simon learned a lot through his involvement in Rotary and it shows the benefits of becoming involved at a young age regardless of whichever party you support or are a member of,” he says. New members are always welcome. “New members from different backgrounds, with different perspectives, all are welcome, and we would really like to see more young people, particularly women, joining,” Parle says. “In Ireland, we have clubs throughout the country. People interested in joining can contact their Rotary Club through Rotary.ie. We have people waiting to respond to membership enquiries. They are all volunteers, we have no paid staff, no offices and no admin costs as such. “Through Rotary, I’ve learned so much and met so many wonderful people from all over the island of Ireland and beyond. Quite simply, joining Rotary was the best decision I made this century.”

Sumer Northern Ireland is gearing up for further growth as it recruits to meet rising demand from the SME sector, says Managing Director Brian Clerkin With optimism on the rise in Northern Ireland’s small-and-medium sized enterprise (SME) sector, Sumer Northern Ireland is poised to support future entrepreneurial success with a growing team and plans for future expansion.  Established in July 2024 when the Belfast office of ASM Chartered Accountants joined the UK-headquartered Sumer Group, Sumer Northern Ireland is led by Managing Director, Brian Clerkin, a Chartered Accountant who has been at the head of the firm for over 12 years. Clerkin joined the Belfast Office of ASM Chartered Accountants in 1997, qualifying as a Chartered Accountant with the firm in 2000. In the years since, he has seen the firm go from strength to strength. “When I joined, we were completely different to the firm we are today. For a start, we were much smaller. There were probably only 20 people in the firm back then,” he says. “I was lucky to spend most of my training contract working for one of the founders, Stephen Sproule, and that was an invaluable experience. I’ve often described it as the best business education I didn’t have to pay for. “Having passed my FAEs and placed in the top ten, I sat down with the Stephen and we worked out a route for the next few years that would give me the best chance of achieving an equity stake.” Clerkin became a Director of the firm in 2004 and a shareholder in 2005. He was appointed Managing Director of the Belfast office of ASM Chartered Accountants in 2012. “Last year, the shareholding directors in the Belfast office decided to join the Sumer Group and we did so officially on 1 July 2024,” Clerkin says. “We were seeing lots of opportunities in the marketplace to take on new work and we felt we needed to make a strategic decision to best enable the firm to grow further and provide opportunities for our future leaders to come through.” Consolidation trend This decision reflects the wider trend towards consolidation that has taken root in the accountancy sector in recent years. “There is a lot of consolidation at the moment, probably to be fair more so in England, Scotland and the Republic of Ireland, than in Northern Ireland to date,” Clerkin says. “Regardless of jurisdiction, however, firms are all facing similar issues, including an appetite for external investment, increased regulation, succession challenges and the need for mid-tier firms to invest in people and technology.” The merger marked Sumer Group’s entry into the accountancy market in Northern Ireland and a new chapter for the team in Belfast. “We were confident this strategic partnership would not only enhance our growth prospects but also expand the range of services and expertise we can offer our clients,” Clerkin says. “Sumer is already a top 15 UK accountancy practice on a mission to champion SME businesses. It was recently recognised in the 2024 Top 50+50 Accountancy Firms by Accountancy Age for being the fastest growing accountancy firm in the UK.” Since the merger, Sumer Northern Ireland has increased its headcount by 20 percent to 120 in response to rising business demand. “We have seen a significant increase in client business since July 2024 coming from clients we already worked with and new clients in the sectors we serve—hospitality, tourism and leisure, manufacturing, distribution, not-for-profit and the public sector, engineering, technology and IT,” Clerkin says. SME outlook in Northern Ireland  Sumer Northern Ireland continues to provide a range of services to SMEs in Northern Ireland, spanning audit and accounting, corporate finance, insolvency, forensic accounting, internal audit and tax services. “The business landscape is constantly evolving, and our clients are subject to an array of economic challenges and opportunities,” Clerkin says. “The issues with our infrastructure and planning systems here in Northern Ireland have been known for years and will take some time to fix. “However, I think businesses in Northern Ireland would like to get a sense that the Northern Ireland Executive recognises these problems and has a tangible plan to address them.  “The blame game, and waiting for Exchequer monies to arrive from London, can’t be an acceptable position to maintain. “Other than that, I think businesses are waiting to see the full impact of the increase in employment costs announced in the 2024 Autumn Budget on both their own cost bases, but also on input costs and consumer confidence.  Despite these challenges, businesses in Northern Ireland are optimistic about their future prospects, according to a Sumer Group report published last September. Produced in partnership with the Entrepreneurs Network, the United Growth report highlighted Northern Ireland as a key region with “particularly bright prospects”.  Seventy-three percent of the Northern Ireland businesses surveyed in the report signalled their intention to increase staff numbers over 12 months, while 78 percent said they anticipated a rise in turnover.  This level of optimism showcased Northern Ireland’s potential as a hub for entrepreneurial growth, the report stated. “I think what we are seeing on the ground is continued growth with cautious optimism,” Clerkin says.  “Northern Ireland has been able to take advantage of opportunities to significantly grow both our tourism and IT industries over the last 10 to 15 years. “If a similar approach is taken to aligning the education sector, local government and the Executive, there is no reason why other sectors such as professional services, high-value engineering, agri-food and biopharma couldn’t also see a similar rise in output and productivity.” Future expansion Sumer Northern Ireland is ready to support this growth with its recent merger allowing the firm to take a “more robust, technology-driven and cost-effective” approach to the non-client facing side of the business in areas such as recruitment, compliance and marketing, Clerkin says. “Personally, I am really enjoying collaborating with the other firms in the Sumer Group to identify and take on cross-referral opportunities, which play to the different areas of expertise within the group,” he says. The firm is now exploring opportunities to grow organically and through potential future acquisitions.  “We expect to announce a number of acquisitions over the course of 2025,” Clerkin says, “and, on the broader stage, the Sumer Group is actively looking at making strategic acquisitions both in those areas of the UK where we are not yet represented and in the Republic of Ireland.”

Special guest speaker and Tesco Group CEO Ken Murphy, FCA, shared his career insights and outlook for the future of business and the Irish economy at this year’s Annual Dinner As Tesco Group Chief Executive, Ken Murphy is at the helm of the UK’s largest grocery retailer with an annual turnover of £61.5 billion and over 4,500 stores in the UK and other markets employing some 330,000 people. Speaking on stage at the Chartered Accountants Ireland Annual Dinner in Dublin on Friday, 24 January, in conversation with MC Sarah McInerney, Murphy discussed his career, expectations for the Irish economy and shifting trends in the world of retail and business. “The most obvious change I’ve seen since taking on this role is the impact technology has on every decision you make today,” Murphy said. “When I joined Tesco, we had about 2,000 people in technology. Today, we have 5,000 and I wouldn’t be surprised if we have 10,000 by the end of the decade.  “It’s just such a critical part of any business today. Almost anything you want to do now has a technology dependency. “The opportunities are phenomenal. AI will absolutely turn everything we know on its head over the next five to ten years. Energy is the only real limiting step I can see at the moment.” Originally from Cork, Murphy studied commerce at UCC and trained as a Chartered Accountant with Coopers & Lybrand (now PwC), beginning his career with Procter & Gamble. By the time he had been appointed Finance Director with Alliance Unichem just a few short years after qualifying, it was clear to Murphy that his professional future lay in the world of business and retail. “I am bad at maths and even worse at physics, but I’m good on numbers. I hated auditing but numbers came easy. At the end of my training, my Audit Partner said to me, ‘Ken, you really enjoy business; auditing, not so much’, which was a gentle nudge to do something else.”  It was when he joined Procter & Gamble that, Murphy says, his career really “got into gear” and remaining open to opportunities has been the cornerstone of his success in the years since.  His advice to young accountants starting out today is to “open more doors than you close—and take risks”. “It doesn’t always work out,” he said, “but you definitely learn more from the failures than the successes and you have a lot of fun along the way, as long as you can take the knocks.” Murphy was appointed Managing Director of Health and Beauty, International and Brands, at Boots in 2013. He subsequently became Joint Chief Operating Officer at Boots UK & Ireland before rising to Executive Vice President, Chief Commercial Officer and President Global Brands at Walgreens Boots Alliance.  He was appointed to the Board of Tesco PLC as Group Chief Executive in October 2020.  Although the transition from health and beauty to food retail proved a steep learning curve, Murphy describes his current role as “the best job I’ve ever had”. “There is a much higher level of intensity in food retailing,” he said. “When you’re a high-street brand like Tesco, the public scrutiny is extraordinary. Nothing prepares you for that. “It is extraordinarily intense, and, at the same time, we are thinking very long term in some of our strategies. I love the business. I love what we do. I love the people I work with. “We have a lot of fun in an intensively competitive environment. We never have a day where we’re bored or thinking, ‘what will we do today?’” Tesco has a growing presence on the island of Ireland, where it operates 181 stores in the south and 50 in the North.  Last October, Tesco committed close to €200 million to the renewal and expansion of existing multi-year partnerships with Irish suppliers in the south.  The retailer is, Murphy said, the world’s leading purchaser of Irish food and drink, buying €1.6 billion of Irish food and drink annually—more than the value of Irish food and drink exported to any country in the European Union. “We have over 500 suppliers in Ireland and three quarters would be classified as SMEs employing 250 people or less,” Murphy said. “One of the things that really struck me when I started this job and went out visiting our suppliers, were the stories they would tell me about how they were basically working out of a shed 35 years ago, then they got a contract with Tesco and now they have a massive organisation. “That’s true of a number of our biggest Irish suppliers who have been extraordinarily successful in partnership with Tesco.  “We love working with our suppliers and helping their brands grow. We are fair and transparent, but we are quite tough. “If you’re successful with us, you tend to be successful with other people. “We like to think we reward real entrepreneurial spirit and innovation–particularly in Ireland where food is enormously important and something we’re famous for globally.” The future fortunes of the Irish economy will not be without challenge, however. “If I look at what Ireland has done in terms of its brand relative to other countries, I’d say we do a pretty good job. We could always do better but, with the work of some of our semi-state bodies, whether it be Enterprise Ireland or Bórd Bia, we punch above our weight,” Murphy said. “The challenge now is, ‘how do we really take that for a spin over the next five to 10 years in a global way?’ and I would be nervous of our dependency on US foreign direct investment.” With US President Donald Trump’s ‘America first’ trade policy starting to gather steam, Murphy cautioned against a cavalier approach to transatlantic relations. “I think Ireland punches above its weight in terms of our influence in the EU and in terms of the US, but we shouldn’t overplay our hand with the US.  “I am very encouraged by the fact that there is hugely deep investment in Ireland over a very long period of time, but I feel we shouldn’t assume our special relationship with the US will endure forever.  “There are competing interests, and we should be mindful of that but there is a lot of capability and competence in Ireland, so I feel like we have an opportunity. “Ireland has the most stable political environment in Europe. We still have one of the best educational standards in Europe. We have a lot of other challenges, but I believe it’s all to play for.”

Ormsby & Rhodes Managing Partner David Marsh tells Barry McCall why one of Ireland’s oldest accountancy firms has embraced consolidation to future-proof its legacy In an announcement that took many by surprise, Ormsby & Rhodes, one of Ireland’s longest established accountancy firms, revealed in January that it had agreed to merge with AAB, a UK firm backed by private equity. Established in 1911 and consistently ranked in the top 20 firms in Ireland, Ormsby & Rhodes has revenues of over €7 million and provides audit, accounting, tax, payroll, company secretarial and business advisory support to a wide range of clients nationwide.  The merger strengthens the firm’s international presence and access to the European market while also propelling AAB past the €120 million revenue mark. “If you had asked me a year ago if a merger was on our agenda I would have said no,” says Ormsby & Rhodes Managing Partner David Marsh. “Ours is a 100-year-old firm doing very well, why would we sell?” Consolidation: the way forward Attendance at an event hosted by Chartered Accountants Ireland, at which one of the speakers spoke about his own firm’s merger, prompted a rethink.  “I spoke to him afterwards and he explained that consolidation is the future for the sector; that there is so much regulation and other new developments coming, firms cannot stand still, or they will fall behind. They need to grow and move forward,” Marsh explains. It is not a question of growing at the expense of others but rather positioning the firm to take full advantage of opportunities for growth.  “There is lots of work out there for everyone, but you need to be large enough, and have the necessary resources in terms of staff, technology and international reach, to service clients,” Marsh says.  “Consolidation is also good for the Institute as it means there are fewer firms to regulate in an increasingly complex world.” Protecting a legacy Before agreeing to any deal, Marsh was adamant that Ormsby & Rhodes’ core values and identity would be fully preserved. “I am passionate about Ormsby & Rhodes and the legacy we have to look after. That is very, very important to me. Following our merger with AAB, we still have the same identity and the same values.” Ormsby & Rhodes is the oldest accountancy firm in Ireland still trading under its original name. It was re-established in 1911 by Geoffrey Lewis, Neil Payne and Declan O’Luanaigh “We have clients who have been with us for over 50 years,” Marsh says. “The length of time clients stay with us is quite amazing. They don’t leave us. The average tenure of our top 10 clients is over 20 years.  “Some are large-scale businesses that could easily move to a Big Four firm, but they have chosen to stay with us because of the level of service we provide.  “We have the same partners and the same identity and ethos, and we will keep on doing what we did before; that’s what AAB wants us to do.” Succession and the next generation Marsh first joined Ormsby & Rhodes as an audit manager in 1991 having trained with EY and worked at it’s Jersey office for four years before returning to Ireland.  He subsequently left Ormsby & Rhodes in 1993 to set up his own firm, DJ Marsh & Associates.  “The business went really well,” Marsh recalls. “I started with seven clients and had more than 100 by the time I accepted the offer to merge the firm with Ormsby & Rhodes in 2000.” Three senior partners have retired from the firm in recent years, prompting Marsh to carefully consider its future leadership.  “I decided to bring young partners through. I am 64 but most of our partners are in their forties with some in their early thirties. It’s quite unusual to have an age-profile like this. Four of our 10 partners are female. The heart of the firm are these 10 partners.” The decision to explore a possible merger was taken following a meeting of the firm’s equity partners early in 2024.  “After that, we held meetings with others in the industry to get their views and opinions and we decided it was the right thing for us,” says Marsh.  “The priority for us was to form a partnership with a company we could grow with while also retaining our core identity. We didn’t want to just be subsumed into a larger organisation.” This is where AAB came in. “AAB is a Scottish firm that was the same as us five years ago when they decided to grow the business through consolidation with private equity backing,” Marsh says. “We had a number of meetings with them, and we found both sides liked what the other was doing.  “Chartered Accountants Ireland was great throughout the process. They were so quick at coming back whenever we had questions.” The benefits of the merger for Ormsby & Rhodes are significant, the first being the firm’s scope to service clients doing business in the UK.  “If one of our clients is doing business in the UK, we now have AAB to look after them and we can look after AAB clients here in Ireland,” says Marsh. Enhanced technology is another benefit: “We were about to spend a huge amount on new and upgraded systems. AAB had all of that and we are now able to access their platforms, creating efficiency and additional capacity to service clients.” Future of accountancy While he sees the advent of newer technologies such as artificial intelligence (AI) as important, Marsh believes the human touch will always be critical in the accounting profession and the wider business world. “AI is just another tool we will use. At the end of the day, it’s the accountant that makes the decisions and signs off on the accounts,” he says. Environmental, social and governance (ESG) principles are another key focus area for accountants currently.  “AAB is very big in ESG and has two partners and a team of four in this area. We have large clients who need this support. If a company has private equity investment, it needs to complete sustainability and ESG reports and the same applies to multinational firms,” Marsh says. “Transfer pricing is also huge, and AAB has a dedicated team for this, which is really important for us.  “For example, tax in the UK is changing very rapidly, and you have to be on the ball there. Corporation tax is 26 per cent in the UK and that’s where transfer pricing comes in. You need to get it right.” Marsh sees further potential for AAB’s Virtual Finance Service in the Irish market. “Mid-sized companies may not have the resources to pay a full-time chief financial officer (CFO),” he explains.  “Instead, they can outsource the CFO role to AAB on a cost-effective basis and get access to an experienced professional who will spend part of their time acting as CFO for them and the rest of their time looking after other clients.” Right now, Ormsby & Rhodes is preparing to host the Europe, Middle East and Africa conference of the BKR International association of independent accounting and advisory firms in Dublin in June.  “BKR International is a referral association, and we have been a member for 30 years. We have developed relationships with member firms in countries including France, Germany, America and Australia. It is a fantastic association for developing relationships and new business,” Marsh says. More than 200 delegates are expected to attend the conference. “It represents a huge opportunity to promote Ireland; to show what we can do here; and generate new business for ourselves and other member firms.” Marsh’s ultimate ambition for Ormsby & Prentice stretches much further into the future, however. “We want to be a very strong mid-tier partner led firm with a reputation for providing excellent service to clients,” he says.  “I believe we can double or treble in size over the next five years but, ultimately, I want to grow a practice that is sustainable for the next 100 years.  “That’s what this is about. I like to think Ormsby & Rhodes, with AAB, will grow for another century.”

From education and the next generation, advances in technology and the evolving role of the accountant, to business and the economy, what can we expect in the New Year? As we look ahead to 2025 and the opportunities and challenges it will bring for our profession, the economy, business and wider society, our Society Chairs in Ireland and overseas give us their take on what we can expect in the 12 months ahead. Damien Carr, Chair, Chartered Accountants Ireland Leinster Society The new Corporate Sustainability Reporting Directive (CSRD) is set to have a major impact on our profession in 2025 and beyond. The CSRD is a significant regulatory framework introduced by the European Commission with the aim of enhancing transparency and accountability in sustainability reporting across the European Union (EU). This Directive was transposed into Irish law in July 2024, requiring a limited number of companies to report for periods ending on or after 31 December 2024, followed by large companies on or after 31 December 2025, and a gradual expansion to all entities meeting certain revenue thresholds by 2028. While some companies will not be required to implement the standard directly in 2025, they will nevertheless need to consider more than 1,000 data points to ensure compliance with the CSRD’s disclosure requirements. A lot of time and effort will be needed to gather this data in time to report, and I expect this to be high on the agenda for our members in 2025. The implementation of the CSRD presents both challenges and opportunities for companies in Ireland. Many of the data points incorporate information companies will not have reported on prior to its introduction. In some cases, they will need to start collecting data from scratch, both from internal sources and external sources in their value chain, such as suppliers and customers. Investment in environmental, sustainability and governance (ESG) resources will also be needed – upskilling teams, for example, new processes and controls to capture the required data points and new systems to access and present this data. All companies will need to make the effort, but smaller companies will really feel it as they will have further to go to create the necessary infrastructure. Expect to hear a lot more about the CSRD in the months ahead as ESG continues to move up the leadership agenda. Damien Carr is a Director in Audit and Assurance at Deloitte Ireland. Lynda Deane, Chair, Chartered Accountants Ireland Western Society Chartered Accountants operating in the today’s business world are no longer “just accountants.” Our role has evolved profoundly. Our focus is no longer purely on reporting, but on advising, guiding and directing. Radical developments in technology, including the advent of artificial intelligence (AI), mean we can now spend less time on repetitive, mundane and input-orientated tasks, and more on valuable strategic work and building trust with stakeholders. AI means colossal amounts of data can be transformed into useful insights at rapid speeds. It is up to us as Chartered Accountants to use these meaningful insights as a foundation to inform better business decisions – offering sound strategic advice that improves productivity, reduces costs and delivers stronger financial results. This is the era of real-time accounting and we, as a profession, must deliver on our potential to provide all stakeholders with better information, faster and more cost-effectively. The outdated perception of accountants as “number-crunchers” is no more. Today, we are valued business advisors and anchors for seamless integration with other areas of business. While some may see risk in this technology-driven shift, and its potential to disrupt career paths in accounting, I would argue that the new “input – process – output” model AI and automation enable will only ever be as good as the data we feed in at the outset, and how well we analyse and interpret the information generated. Chartered Accountants, and our profession’s in-depth financial knowledge and understanding, will play a crucial role at both ends of the process – inputting the right data, and understanding and applying the results to best effect. We may need to rethink how we train the Chartered Accountants of tomorrow, preparing them for the new reality of AI and automation, but the core building blocks and basic understanding of business operations will remain critical. It is an exciting time to be a Chartered Accountant. We, as a profession, have the capacity to drive positive and far-reaching change in the nature of the work we do in 2025 and beyond. Lynda Deane is a Director with Grant Thornton in Galway Maura Ginty, Chair, Chartered Accountants Ireland Northwest Society I think we all need to see a renewed Government focus in 2025 on strengthening Ireland’s indigenous SME and start-up sector as a counterweight to multinationals. From a tax perspective, we have valuable early-stage tax reliefs, but they are complex and often close to unworkable for start-ups without the resources to implement them. The policy objectives are fine; they are targeted – but the rules need to be simpler and less onerous. At the opposite end of the spectrum, for entrepreneurs exiting a business, I would like to see the current limits on capital gains tax reliefs lifted in recognition of the important role entrepreneurs play in Irish society. They take on risk and, in doing so, they create jobs. The regime applying to these individuals should recognise this by being more clearly distinguishable from that applying to purely passive investors. The default limit for the retirement relief exemption has not increased for close to 20 years, for example, leaving one to question whether this relief is being left to “wither on the vine.” For advisors, the good news is that two behemoths of tax complexity – interest relief and funds – are actively under review. There appears to be a desire on all sides to simplify interest relief rules, but this will take time. A review of the tax regime applying to the funds industry in Ireland is complete and recommendations have been presented to Government. The headline policy issue here is the tax regime for Irish investors, with proposals in place to align the applicable tax rates with capital gains tax and remove the controversial eight-year deemed disposal rule for Irish-domiciled funds and life products. This would represent a major change, but some development is needed as it is currently extremely difficult for casual retail investors to comply with the regime. On a more general level, I would welcome more Government consultation with tax practitioners ahead of the proposed introduction of any significant tax policy changes. Such consultations have worked well in relation to the implementation of global tax changes and, more recently, the newly introduced participation exemption for foreign dividends. Looking beyond tax, we are seeing a lot of change and consolidation in the accounting sector, with M&A activity among practices nationwide continuing at pace. I believe there will always be a niche role for independent practices, however – in this market, specialism is key. On the talent front, attracting and retaining staff remains critical for firms across the board – and the much-vaunted culture of long hours is definitely coming to an end. Younger entrants are placing greater value on work-life balance and their time and life outside work, and this is a positive development. There will always be those drawn to long hours and the “daily grind,” but this should never be a baseline expectation for talented and capable individuals who want to succeed in our profession. Maura Ginty is the founder of tax advisory firm Gintax. Profession poised to take centre-stage on critical issues in Australia As we wrap up another year and look to the months ahead, Chartered Accountants are primed to take centre-stage on the “big issues” in business, practice and the wider economy, writes Cliff Wilson, Chair of Chartered Accountants Ireland Australian Society. In 2025, I expect to see greater demand for Chartered Accountants to take the lead, as governments and businesses grapple with economic, regulatory and societal challenges, such as inflation and climate change. In particular, environmental, social and governance (ESG) reporting is becoming incredibly important because it helps businesses be more transparent and accountable. The rules and regulations underpinning ESG are undergoing constant change, however, so it is crucial for Chartered Accountants to keep up. We need to ensure we are up-to-date at all times and learning continuously about new regulations to ensure compliance. Looking beyond sustainability, we are really starting to see just how powerful advanced technologies like artificial intelligence (AI) and machine learning can be in allowing Chartered Accountants to focus more on the “big picture” strategic stuff. Investing in this technology can effectively automate boring tasks and make financial reporting and analysis super-efficient and accurate – but it also means we need to change how we work and think. As AI and automation become ever-more prevalent, we will need strong leaders willing to let go of the “busywork” and make time to allow us to learn the new skills of the future. As businesses face greater complexity and competition, demand for the advisory and consulting services offered by Chartered Accountants is skyrocketing. To paraphrase Warren Buffett, “Accounting is the language of business,” and this is perhaps truer today than ever before. More and more businesses need our expertise in financial planning, risk management and strategic decision-making and – in response – we need to prioritise our analytical and communication skills to stay ahead of the game. The accounting profession is evolving rapidly, and this means continuous learning is essential. We need to know about new technologies, regulations and best practice to maintain efficiency, accuracy and strategic insight at all times. It is an exciting time to be a Chartered Accountant, with plenty of opportunities to make a real impact. Embrace change and invest in continuous learning, and you will thrive in 2025 and beyond. Cliff Wilson is Director of Wilson Select. Joseph Grant, Chair, ACA Professionals 2025 is shaping up to be an important year for the future of the accountancy profession with significant change on the way, shaped by new regulations, advancing technology and the evolving expectations of the workforce. From the CSRD to the increasing prevalence of AI and shifting workforce dynamics, Chartered Accountants in both business and practice will need to navigate fast-emerging trends. One major area of development will undoubtedly be the CSRD. As business leaders, accountants will play a central role in ensuring our employers and clients meet their sustainability reporting obligations. This may prove challenging as we learn to shift our mindset to integrate sustainability metrics with traditional financial reporting. As CSRD requirements take effect, I expect many of us will be more exposed to this work in 2025 as a larger number of organisations prepare to begin mandatory reporting in 2026. This Directive also provides an opportunity for Chartered Accountants to lead the charge in sustainable business as well as demonstrating our versatility as a profession. AI as a technology promises greater efficiency and a sea change in how important data for decision-making is gathered and processed. For Chartered Accountants, AI promises to cut down the time we spend on repetitive routine tasks, freeing us up to concentrate on more valuable complex and strategic work. While this is welcomed by many, my own prediction is that the AI shift will also bring greater focus on intellectual property rights and cybersecurity risks, particularly concerning the datasets used by AI systems. As AI becomes more widely used, I think businesses will need to pay more attention to the security of the data they are feeding into these models, the reliability of the outputs and the need to establish clear and comprehensive internal workplace policies to mitigate risk and misuse. On the workforce front, I believe we will continue to see greater mobility among younger Chartered Accountants willing and eager to move abroad to seek global opportunities. Even as some employers are pushing for a return to an office-first working model, I think younger professionals will also continue to prioritise work-life balance over the need for a prescribed presence in traditional office environments. The majority of employers will support this, but I would also hope to see greater Government investment in the infrastructure needed to facilitate successful remote and hybrid working, both in terms of the digital infrastructure and commuter links that would facilitate the decentralisation of Ireland’s workforce in locations outside our major cities. Joseph Grant is Financial Accountant External Reporting and Compliance, Primark. Rachel McCann, Chair, Chartered Accountants Ireland Cork Society As we approach 2025, Chartered Accountants working in business are at the centre of transformation driven by technological advancements, regulatory developments and evolving business dynamics. Our role is fast evolving beyond traditional bookkeeping and financial reporting towards more strategic functions. In particular, I see four key priority areas for today’s Chartered Accountant. AI and data analytics In 2025, we can expect the widespread adoption of AI-powered tools that can handle routine tasks, such as data entry, reconciliations and even complex financial forecasting. This shift will allow accountants to move away from time-consuming transactional duties and focus on more value-added services, such as strategic advising, decision support and risk management. AI will also assist in fraud detection, using predictive analytics to identify irregularities humans might overlook. This proactive approach will not only streamline internal controls, but also reduce errors, facilitating more accurate financial reporting. Data analytics now gives Chartered Accountants access to real-time data that is easy to interpret. In 2025, we will likely begin to work more closely with data scientists, IT teams and business analysts to leverage machine learning and AI for predictive analytics, customer insights and trend forecasting. Accountants will also play a central role in ensuring data quality and governance, as businesses generate more data than ever before. ESG reporting Chartered Accountants will be expected to ensure the accuracy and transparency of ESG reports, as well as advising on strategies for meeting sustainability goals. This shift reflects the growing demand for businesses to demonstrate responsible practices, which is becoming a critical consideration for investors, consumers and regulators alike. Businesses now need to begin putting the necessary plans in place to ensure they are fully prepared when their time comes to report. Digital tax and e-invoicing Although delayed in several countries, e-invoicing will soon apply across Europe. Now is the time for businesses to prepare by ensuring they are registered on jurisdictional portals, have digital signatures and the right software ready for their business needs. The global shift toward digital tax compliance will require accountants to navigate complex tax rules, including VAT/GST requirements for digital services, transfer pricing and cross-border tax compliance. Leadership skills While much of the focus on change and transformation in our profession continues to centre on technology, we can never forget the critical importance of the “human element.” Technology can, and does, fail and we then need to be able to rely on client relationships to overcome any issues or challenges that may arise as we introduce, and adapt to, new technologies. Being able to pick up the phone to a client will always be a key requirement for Chartered Accountants. Making time to organise a coffee, lunch or social outing with clients will always be at the core of developing solid business relationships and generating opportunities. We, as leaders, need to ensure that the next generation of our profession has the communication skills needed to forge and maintain strong relationships as they look to progress and develop in their own careers. Rachel McCann is a Director with Grant Thornton in Cork. The view from Northern Ireland Northern Ireland’s unique position as a bridge between Britain and the EU opens up exciting pathways for growth in key sectors in the year ahead, writes Gillian Sadlier, Chair of Chartered Accountants Ireland Ulster Society. As Ulster Society members have identified in our surveys, this unique position presents a great deal of opportunity, both for our region and profession, across sectors including clean energy, health sciences, cyber security and data analytics. Through challenging times – from Brexit to the pandemic, and the ups and downs of local politics – Chartered Accountants have been crucial, helping businesses navigate uncertainty and plan for the future. Demand for Chartered Accountants in Northern Ireland is stronger than ever, fuelled not just by our financial know-how, but by the broader strategic insight we offer. Our members hold many critical roles and their advice shapes major decisions, helping businesses grow and, ultimately, boosting the local economy. All of this places great emphasis on the need to continue developing our skills to respond to the needs of the world around us, as well as the need to continue attracting fresh talent to the profession. Today’s Chartered Accountant needs to be adept at communicating, leading teams and understanding complex regulatory issues. Northern Ireland’s access to both the UK and EU markets also opens up niche opportunities in cross-border trade, data compliance and risk management. Chartered Accountants who dive into these areas will not only enhance their careers but will also bring huge value to local businesses and organisations seeking to expand. With skills shortages a real issue, there is also a great opportunity to showcase just how dynamic a career as a Chartered Accountant can be. Young professionals need to see that this is a field filled with possibilities – you can expect to make an impact, influence strategy and work across many industries. For those of us already in the profession, investing in personal development and leadership skills will ensure we can seize the many opportunities ahead and play an even bigger role in Northern Ireland’s future. Chartered Accountants are vital to Northern Ireland’s economic story. By helping businesses thrive, advocating for good governance and guiding strategic decisions, we are building the foundations of a resilient economy. With the right focus on skill-building, recruitment and showcasing the real value of the profession, Chartered Accountants in Northern Ireland can continue to lead the way in 2025 and beyond, making a positive, genuine and tangible difference to the prosperity of our region. Gillian Sadlier is a Senior Manager with Bank of Ireland UK. Shane O’Neill, Chair, Chartered Accountants Ireland Midwest Society The role of the Chartered Accountant has undergone significant transformation in recent years, influenced in no small part by advances in technology – in particular, AI and automation. Traditionally, Chartered Accountants were tasked with manual bookkeeping and journal entry, financial reporting and compliance auditing. With the rise of digital tools and intelligent software, however, many routine functions have now been automated, shifting the focus of our work to more strategic and analytical responsibilities. In the year ahead and beyond, we can expect this trend to deepen as AI and machine learning continue to redefine, not only the accounting landscape but also how people in many professions perform their roles. These technologies are already adept at performing tasks such as data entry, invoice processing and even complex financial forecasting. Automation will allow accountants to focus less on routine data processing and more on interpreting financial data to provide valuable insights for decision-making. In this evolving environment, Chartered Accountants will become advisors, translating complex data into actionable strategies for business. Our focus will be on adding value, rather than solely ensuring regulatory compliance. AI will also enhance our ability to detect and prevent fraud. Machine learning algorithms can analyse patterns and detect anomalies far more efficiently than manual processes. Many accounting firms and finance departments have already begun to integrate such AI-powered tools to safeguard against financial discrepancies and fraud, making the risk management and compliance element of the Chartered Accountant’s role more robust. I expect this trend to continue in 2025 and beyond, requiring Chartered Accountants to develop a solid understanding of how these AI models work so we can audit and validate our results effectively. Data analytics and visualisation tools are also changing how financial data is communicated. The Chartered Accountant of the future will need to be proficient in data analytics so that we can generate deeper insights and present these findings in a way that stakeholders can easily understand. This shift will require a new skillset, pushing our profession to develop a stronger grasp of technology, analytics and digital communication. While AI and automation may streamline many accounting functions, the demand for ethical judgment, strategic insight and adaptability will remain solely the preserve of the human workforce. In 2025 and beyond, the Chartered Accountant will be seen as a strategic partner in business planning, combining technological fluency with core accounting principles to drive growth and innovation. Embracing this shift, while upholding our traditional values of accuracy, integrity and professionalism, will define the Chartered Accountant’s role in the rapidly evolving business world – and continuous learning and adaptability will be crucial. Shane O’Neill is Financial Reporting Manager at H&MV Engineering. UK businesses sound positive note for the economy in 2025 The last 12 months have been eventful, featuring the UK general election in July and the ongoing conflict in Ukraine and the Middle East, writes Greg McAnenly, Chair of Chartered Accountants Ireland London Society. In October, the UK endured a much-anticipated post-election budget – one which sought to solve deficits in public services, but arguably lacked incentives to drive growth and investment in business. That said, there was some relief that capital gains and income tax hikes struck a softer note than had been predicted in some quarters. The ongoing sluggishness in the general economy, coupled with geopolitical uncertainty, compounded the market challenges facing UK businesses in 2024. Striking a more positive note as we look towards 2025, businesses are broadly optimistic that the economy is entering a more stabilised phase and, especially in the so-called “London bubble,” there is a sense that the UK economy may be entering a phase of sustained economic growth. Supported by inflation dropping back to the much-targeted two percent level and interest rates finally falling, the City is looking to overseas and domestic investors to deploy capital and trigger a more buoyant market – so far, the signals are promising. As Chartered Accountants, we are all well-versed in the need to keep up with ever-evolving regulatory requirements. However, as the UK begins to move on from the economic fall-out of Brexit, it will be interesting to see whether the government seeks to carve out paths to the de-regulation promised pre- and post-election in areas such as the finance, housing and energy. Developments in this space will almost certainly require the involvement of Chartered Accountants to ensure change is both measured and appropriate. As with Ireland, the profession in the UK is experiencing challenges attracting new talent and maintaining the important role and relevance of the work we do. As much as this is a potential threat, it also presents opportunity. Right now, the opportunities for our profession to evolve, through upskilling and investment in new technologies such as Artificial Technology (AI), are endless. Already, we are seeing AI automation delivering valuable efficiencies in both professional services and industry – through solutions for preparing statutory accounts, tax computations and smart research tools, for example. Continued investment in this area is not only necessary, but also unlocks opportunities for skilled Chartered Accountants to become more strategically effective and create exciting new roles aligning technology with the valuable skillset of the Chartered Accountant. Showcasing our profession’s dynamic competencies is a valuable tool we can, and should, use to attract younger candidates to a profession with a bright future. Greg McAnenly is a Senior Tax Manager with Related Argent.

Maria Johnson, Head of Finance for Capital Investments at Iarnród Éireann, talks to Liz Riley about her journey to becoming a Chartered Accountant, the value of balance, and the lessons learned from a diverse and rewarding career Starting out, my journey to accounting was somewhat convoluted.  First, a late change to my CAO form brought me to the University of Limerick where I did a degree in Business Studies and French at the University of Limerick, ultimately choosing to major in Economics and Finance and minor in French.  I undertook the Professional Diploma in Accounting at Dublin City University (DCU) and I am now a Fellow of Chartered Accountants Ireland and Head of Finance for Capital Investments at Iarnród Éireann.  I am also lucky enough to be a mother, a stepmother, a daughter, a wife, a sister and a friend.  Capable business advisor I participated in the “milk round” while studying at DCU and decided that training in audit with BDO should be my next step.  The firm proved the ideal choice to commence my career as a Chartered Accountant.  As the audit department was not split into sector-specific teams, I was exposed to numerous sectors, including pharmaceuticals, financial services, professional services and manufacturing, during my training contract.  I also completed two client-based secondments, which gave me valuable real-world experience early in my career.  The BDO philosophy was to ensure the firm’s graduates would become capable business advisors as well as confident accountants through consistent exposure to partners and senior managers, genuine dealings with clients, attendance at relevant meetings and opportunities to present findings and solutions.  This philosophy has benefited me throughout my career, enabling me to work across sectors undaunted and ensuring that I can have valuable conversations with clients and colleagues as required without reservation.  I learned not to be pigeonholed either through education or early career choices. Up-and-coming accountants should aim for a degree and graduate programme that is established and will give them maximum exposure to sectors and professions in their chosen field.  Trading in facts I completed my graduate programme in October 2008, just as the Celtic Tiger was waning and the recession approached.  I was asked to join the Corporate Advisory and Recovery Team at BDO. I worked on this team until June 2014, moving from manager to senior manager during this tenure.  It was an unimaginably busy but rewarding time. All insolvency processes involve an investigation and an evaluation of how the company ultimately failed. These investigations involve forensic reviews of the books and records of the company and meetings and interviews with the officers of the company.  I learned to always remain resolutely professional, treating everyone I meet respectfully and equally – never make assumptions, trade only in facts and always back up all conclusions with evidence. Managing “the juggle” In July 2014, I moved to London with Mazars to work on an engagement for the Financial Conduct Authority. From there, I came back to the Dublin office to work in the financial consulting and decision-making support team. Our team specialised in financial modelling, data analysis and capital business cases. I became a Director on this team in September 2019.  During my time at Mazars, I became a proud dog owner, got married and became both a stepmother and a mother. We also moved from the highly convenient Harold’s Cross to a more family-friendly Portmarnock.  So, I became very well acquainted with “the juggle”.  When I returned from maternity leave, I received some timely advice suggesting I should become very aware that my time was no longer ‘elastic’, meaning I needed to set strict boundaries and stick to them.  This advice has always stuck with me and helps me to set my priorities for the day or week and allocate focus time to achieve those priorities. While it is always good to be flexible, this can no longer be a constant when crèche closing times are set in stone.  Making a different to Ireland’s future In March 2020, I joined Iarnród Éireann as Head of Finance for the newly formed Capital Investment Division. Capital Investments is tasked with building the “railway of the future”.  The Capital Investments team is currently delivering the DART+ Programme, the Cork Area Commuter Rail Programme, the reopening of the Foynes Line in County Limerick and many more projects across the island of Ireland.  I always loved practice. My move was not planned. It was simply that a role I was truly interested in pursuing crossed my path and I couldn’t resist exploring it further.  I have seen many colleagues and friends take roles specifically based on monetary rewards. While this is, of course, important, it rarely results in long-term career success.  I am enjoying working on a multidisciplinary team that is making a real and enduring difference to the Ireland of the future. This role allows me to leverage all the lessons learned in my career to make a real contribution to a busy senior management team. Don’t rush and take time to learn from and enjoy the many opportunities that come your way. I have held many different roles within the accountancy profession.  The work I have undertaken and the professionals I have had the privilege to work with along the way have shaped how I interact with colleagues, approach the work I do and represent my team at an organisational level today.  I’ve learned several things over my career that has influenced my work at Iarnród Éireann: Where possible, always work for companies that have a culture and strategy you are comfortable with.  Real flexibility and respect for work-life balance are lived experiences rather than buzzwords in graduate brochures and company websites.  Organisation is key. I have a great team who are highly committed to their work. I am grateful to them for all that they do, but I also respect that they all have competing priorities. Everyone has competing priorities in life irrespective of their gender, age or stage of life. We try to identify additional priorities and ad hoc tasks well in advance and plan for them around business-as-usual responsibilities to ensure everything is done in a timely and professional manner Balance in teams is essential. I have been a manager in one guise or another since I was 25. I have always happily gotten to know each of my teams. Impromptu coffees and lunches and, most of all, genuine interest are much more valuable than expensive annual outings, etc. Respect, organisation, a shared goal and camaraderie must be a constant in any successful team. Striving for balance Life is a balancing act. I have always worked for organisations that respect diversity and inclusion. I have had colleagues from all backgrounds and across many nationalities. I don’t believe being female has strongly influenced my career and I have been awarded opportunities on merit where deserved.  Where the juxtaposition of gender roles does come into play is in the mid-career juggle between career and family. Society’s expectations are enormous and growing, and the pressure to be the best at everything is real.  I am lucky to have a husband and life partner who also holds a demanding role and who is committed to working with me to do our “best” with life’s challenges and professional obligations in a given week – not “be the best”, but do our best.  I once heard at an International Women’s Day event in London that in any relationship there is an ebb and flow as to whose “time” it is. This is how we run our household every week. It is not always any one person’s “time”, but rather everyone gets their “time” when they need it.  In reflecting on my journey, I recognise that every step – whether carefully planned or serendipitous – has contributed to the professional and personal life I lead today.  To those beginning their own journeys, I would say this: remain open to change, stay true to your values and strive to balance ambition with the things that truly matter in life. The path may be winding, but it’s the experiences and people along the way that make it rewarding.

For Jaimie Dower, having a supportive work environment has played a critical role in helping her to navigate her gender transition positively and proactively When Jaimie Dower made the decision to transition in May 2022, she knew how important it would be to take a proactive approach to communicating her experience, not just in her personal life but also at work to her colleagues and clients at EY Ireland. For Dower, who is an Executive Director in EY’s Audit Quality Programme, her transition marked a watershed moment in her life. She was, she says, finally ready to “stand up in front of the world and say, ‘this is me’.”   “This is something that has been with me my whole life and something I had up until that point struggled with and hid,” Dower explains.  “There was always a disconnect – the person I knew I was inside and the person I was on the outside were not the same.  “It impacted my life in so many ways because there was always this noise in my head – this static – and the way I dealt with it for many years was to mentally compartmentalise and throw myself into things and say to that noise, ‘go away; I’ll deal with you another time.’” For Dower, who lives in Waterford and works at EY’s southeastern hub in the city centre, it was the onset of the COVID-19 pandemic in early 2020 that proved the catalyst for her transition. Working long hours at home and surrounded by the uncertainty that had engulfed the world as the pandemic took hold, she found she was no longer able to rely on life-long coping strategies. “I think this will resonate with a lot of people for their own reasons, but that first COVID lockdown in March 2020 really brought things to a head for me,” she says. “Out of everyone in our family, I was the one working alone from home the most. I had a lot of time to myself and, suddenly, I couldn’t manage those boxes I’d compartmentalised everything into anymore.  “Looking at what was happening in the world around me at that time, there was also this really strong sense of, ‘life’s too short.’  “It wasn’t just that I didn’t want to hide who I was anymore; I wanted to celebrate it. I wanted to stand up in front of the world and say, ‘this is who I am.’ That really came home to me during COVID.” First steps and early conversations Dower’s first step was to seek professional help. Working with a therapist helped her to ‘clarify’ her thoughts and begin to plan the practicalities of managing her transition.  “Talking to someone at that stage was very important – to have that help and support in coming out to myself, really, and the sheer relief of being able to say it out loud. It was powerful,” she says. By mid-2023, having begun hormone treatment, she was ready to start thinking about how to communicate her transition at work. “The hormone treatment changed my life. I can only describe it as coming into full focus for the first time. The dissonance I had felt all my life faded away. Now, I had to think about how to start telling people about my transition – to put a plan in place I was comfortable with.”  Initially, Dower decided to get involved in Unity, EY’s global LGBTQ+ network. “I took things slowly at first, getting involved in things like helping to organise Pride events. I got to know colleagues in the network and had one or two small conversations – really just to begin to gather my own thoughts on how to approach this.” By late 2023, Dower was ready to take more formal steps, and she reached out to EY’s HR team for support. “Their support was incredible. I was able to work directly with a colleague on the HR team I knew I could trust to work out a plan. That trust was immense for me.  “We talked about when I would start speaking to people, who I needed to speak to and when, and about what I wanted to say.” Intentional communication Dower began communicating with her colleagues in mid-February 2024 in advance of presenting at work as her authentic self. “There was a lot of anxiety for me initially around those conversations. Having worked at EY for 30 years, I did feel a lot of pressure because I have long-standing relationships with colleagues within the firm and clients externally and they trust me.  “I had faith that there would be a positive response, but in the back of your mind, there is always the worry that someone might not react well. “I will never forget that first call we set up for 2pm on a Friday afternoon with all the Assurance Partners across EY in Ireland – that was our starting point. “I work with EY people all around the country, but primarily in our Dublin office, and I needed to communicate to everyone.  “So, once I had that call with our Assurance Partners, I set up another group call with everyone on my team and then I sat down face to face with everyone in our Waterford office.” Although intense and, at times, overwhelming, the process also proved to be “empowering” for Dower who welcomed the positive feedback and support offered by colleagues.   “It was the support that came afterwards that really meant so much to me – people reaching out to say, ‘I’m delighted you were able to come to me and tell me this. I am with you – I support you.’  “Just knowing I could come to work as myself and it would be okay was incredible, because not everyone has that experience. Not everyone has that support.” While not easy, the process held great value for Dower, who felt empowered by being able to work proactively with her colleagues at EY to communicate her transition. “Every one of those conversations was difficult, no matter how many times I did it. Effectively, it was just me having to strip away all my defences to tell my story in different ways to different people depending on the nature of our working relationship and how well we knew each other.” “In some ways, it is a never-ending journey, but all I am fundamentally saying is, ‘I am still me, but I am the authentic me – a better version of me’.” Meaningful support and guidance In supporting employees at work as they transition, Dower sees enormous value in collaborative diversity, equity and inclusion initiatives, such as EY’s Unity network, which can help to foster a sense of community and act as a crucial conduit for support and communication. “Through my involvement with Unity, I had the privilege of being able to play a role in revising EY’s Transgender Identity, Expression and Transition Guidelines and I was also able to take part in a Transgender 101 Webcast for staff across the organisation.” As Dower sees it, such initiatives are vital in helping to foster a supportive environment for transgender employees and providing guidance and resources for the wider workforce. “From the employer’s perspective, education is so important. I’m not in a position myself to go around every day educating every person I meet. That’s where things like guidelines and webcasts can have real value. Even just a little bit of education can go a long way.” In particular, Dower sees value in establishing clear guidelines that are equally applicable to all and give everyone a simple and transparent baseline to work from. “I’ve had a sense sometimes that some colleagues may be a little nervous. It’s not that they are not supportive, it’s maybe that they are afraid that they might say the wrong thing or use the wrong terminology, and inadvertently cause offense or upset – and that is the last thing I want,” she says. EY’s Transgender Identity, Expression and Transition Guidelines include sections on gender identity and expression and the correct or inaccurate use of terms relating to gender expression, including pronouns. Guidance is also offered to managers on how to support transitioning employees and to individual employees who are transitioning. “I am very fortunate that EY as a firm, as an employer, has been so willing to work with and support me. When I reached out, the response wasn’t, ‘this is what we need from you,’ it was, ‘what do you need from us?’  “Now, I really want to communicate how important this is to the wider world, because I feel a responsibility to others who are transitioning and may not have the same support I have at work,” Dower says. “Because I have been with EY for 30 years, I have the privilege of a longstanding presence in the organisation and all the trust that comes with relationships built over that time. “Right from the outset I’ve thought, ‘if I can get this right, it might make it easier for someone who is younger and newer in the door who is going through the same thing.’  “Representation matters; visibility matters. Ultimately, I want to do what I can to help make this process easier for others in the future.” Interview by Elaine O’Regan Supporting employees transitioning at work For any person undergoing gender transition, the support of their employer, managers and colleagues will be crucial, and open, honest communication will play an important role in building trust and supporting a positive experience.  “At EY, we are committed to supporting individuals as they go through gender transition and working closely with them to provide personalised support, aid in establishing an action plan and setting expectations,” says Derarca Dennis, EY Ireland’s Assurance Partner and Sustainability Services Lead. “We value diversity and inclusion and the creation of a safe workplace in which everyone has the best opportunity to reach their full potential.” Based on EY Ireland’s own Transgender Identity, Expression and Transition Guidelines, Dennis shares seven key ‘best practice’ focus areas for all employers and managers seeking to support their own employees undergoing gender transition: Develop a transition plan When an individual approaches you with their intention to transition, it is imperative that you are supportive, open-minded and honest. Be prepared to discuss their aims and expectations, and what they intend your role to be in the transition. Make sure to consider stakeholders, colleagues, policies and procedures existing in the workplace. Ask your HR team for guidance and support as needed. Prioritise effective communication Clear, open and honest communication from managers, employees and the transitioning individual is essential. Communication will be different in all transitioning plans and dialogue can help alleviate any potential difficulties or issues. Hosting information and awareness sessions for team members and other stakeholders should be considered when developing this plan. Other fundamental communication areas to consider include what the transitioning individual is comfortable and willing to share.  Practise sensitivity and respect Be prepared to treat any employee who is transitioning with respect and an open-minded attitude. Be ready to ask questions, listen and understand their needs and concerns. All employees deserve to be treated with respect and sensitivity when related to their personal lives.  Use pronouns correctly Using the correct pronouns (he/she/they/ze etc) is extremely important. Simply ask the individual which pronoun they would like people to use and then ensure that everyone knows this. It may seem like a small thing, but it is incredibly important to get right as it demonstrates validation of the individual’s authentic self, which will go a long way towards helping them know they are fully accepted in their expression of their gender identity. Educate and raise awareness While everyone is expected to behave in accordance with policies, there should also be an opportunity for education and questions to be asked related to the transition process. It may be useful to host information sessions and forums to address concerns and educate employees who work in the team.  Guide on client conversations Should the individual be client-facing, they should be offered support (if required) in facilitating a conversation with any clients they work with. It is important to reinforce that their technical abilities will not have changed as a result of their expression of their gender identity and clients should be made to understand that all team members working with them must be treated with the same support and respect.  Respect confidentiality and privacy You should always maintain an appropriate level of confidentiality and privacy in relation to employee matters. Information should only be disclosed to those who need to know (such as HR, for example), those involved in the process, or those who have the consent of the transitioning employee. 

Richelle Manning, Investor Relations and Credit Rating Manager at ESB, tells us about her career path, passion for decarbonisation and climate action, and plans for the future. Richelle Manning, FCA, is Investor Relations and Credit Rating Manager at ESB. Manning joined the semi-state energy utility in 2014 having trained in KPMG’s Restructuring and Forensics Department and remaining with the firm for a further three years. She grew up in Kells, Co. Meath, and has a degree in business and legal studies from UCD and a Master of Accountancy from UCD Smurfit School. She is a member of the board and treasurer at Meath Women’s Refuge and Support Services. Tell us a bit about yourself, and when and why you decided to become a Chartered Accountant? Both my parents worked outside the home when I was growing up, and they always emphasised the importance of finding a career I would truly enjoy and that would give me the freedom to do anything I wanted in life. While at secondary school, I was also fortunate to have a very inspirational business and accountancy teacher, Ms Bird, whom I admired greatly. I think it was her influence, coupled with my parents’ guidance, that led me to pursue a career as a Chartered Accountant. It is a profession that offers many opportunities to work in a wide range of areas and in different parts of the world, providing a solid foundation for significant professional growth. Has your career unfolded as you anticipated or were there some surprises along the way? I wasn’t organised enough to have a career plan, but I knew coming out of college that I would like to undertake a graduate programme with a large accountancy practice, focusing on the restructuring area. I liked the idea of helping struggling businesses to formulate turnaround strategies to help them find success and profitability again. The years I spent working at KPMG were some of the best of my career. I had the opportunity to support some of the biggest Irish and international companies across a wide range of industries and gained firsthand insight into the challenges management teams and businesses can face. I then joined ESB Group and continue to enjoy fantastic opportunities working across all areas of the energy industry. The decarbonisation of the energy industry in Ireland is a key enabler for the transition to a net zero future for Ireland. While this wasn’t something I was thinking about when I joined ESB Group, it is one of the reasons I have stayed here for 10 years. I am deeply committed to the vision outlined in our Net Zero by 2040 strategy and I am driven by the actions I can take to help achieve this goal. I have always been open to accepting new opportunities as they arise, and this has led to me meeting some truly inspirational people, working on projects I could never have envisaged and being successful in my career. What does your role as ESB’s Investor Relations and Credit Rating Manager involve day-to-day? My role is ultimately about sharing ESB’s vision, strategic ambitions and financial results with our investors and credit rating agencies. As a semi-state entity, ESB relies solely on debt investors for external funding to finance our extensive capital investment programme as we work towards decarbonising the electricity sector in Ireland. Maintaining our credit rating of A- is therefore critical to ensuring we have access to the bond markets. No day is the same – my role offers lots of variety. I spend a lot of time meeting with investors and discussing ESB, its net zero goals and the associated funding required to achieve those goals. In recent years, we have seen investor interest extend beyond our financial results to encompass our sustainability goals, progress and achievements. In 2024, investors have been particularly interested in our plans for reporting under the Corporate Sustainability Reporting Directive, and in our two recent publications outlining ESB’s sustainability leadership plans and pathway to net zero. I also work quite closely with colleagues internally, providing advice and guidance on our credit rating and investor requirements, and assessing and advising on the implications of certain transactions from a credit rating and investor perspective. Are you glad you made the decision to qualify as a Chartered Accountant? Yes. The Chartered Accountant qualification is highly regarded in Ireland and worldwide. I found the training prior to qualification and subsequently, through continuing professional development, both relevant and informative. It has helped me to build the capability and skills needed to succeed as new challenges arise. Among the people you have worked with over the years, who has been your biggest inspiration? I have been lucky enough to work with some wonderful people throughout my career who have inspired me and whom I very much admire. I have also had mentors and coaches who have provided inspiration and guidance, especially at times of big transitions in my life such as returning from maternity leave, undertaking new roles and seeking promotions. I am quite passionate about the impact mentoring can have in helping individuals achieve professional success. I currently manage the finance mentoring programme at ESB, an award-winning scheme that helps finance professionals build the capability and skills to achieve their career goals. One of the most important lessons I have learned over the years is the importance of building relationships. Success is achieved through working with people. Significant changes are underway in the energy industry right now and it is only by working together, with an open mind and a willingness to learn, that we will be able to deliver what is required to meet our net zero goals. How has the role of the Chartered Accountant evolved since you joined the profession? At ESB, we have Chartered Accountants working in all areas of the business – not just on the finance team. Chartered Accountants are seen as strategic advisors, commercially focused and thoughtful leaders who can provide insights and guidance on a wide range of topics. The Chartered Accountancy qualification is a great foundation for any career. It helps to build skills that can be used across a range of business areas. What advice can you offer ACAs starting out on their career path today? The best advice I can give is to be open to exploring new opportunities and experiences as they arise. Building a strong support network is also key to success. Who do you admire most right now in business or public life? I remember the election of Mary Robinson as the first female President of Ireland. Even as a child, I was aware of how she had rocked the system and the positive impact she had on women in Ireland and globally. Throughout her life, she has used her position to highlight issues like domestic violence, lobbied for women’s rights and held perpetrators of human rights abuses to account. Today, Mary Robinson continues to use her voice and platform as an advocate against climate change through her role in Project Dandelion, a woman-led initiative addressing climate change. Her strong commitment to women’s rights, human rights and to addressing climate change, specifically from a female perspective, really resonate with me. I see her as a great role model. What are your plans and ambitions for 2025? I have two key focus areas for 2025: sustainability and artificial intelligence (AI). I have committed to taking part in the ESB Sustainability Navigator Programme, an initiative aimed at creating a culture of sustainability leadership throughout the organisation and I am looking forward to growing my knowledge in this area. On the AI front, ESB was one of the first companies in Europe to deploy copilot for Microsoft 365 and I am hoping to enhance my learning and use of this platform throughout 2025. This will hopefully help me to focus on high-value activities and improve knowledge-sharing and collaboration within my teams.

Barry McCall speaks to Xeinadin Area Managing Partner Paul O’Connell about the firm’s rapid growth in Ireland, multi-million euro investment programme and the outlook for the Irish economy  Formed just five years ago in the UK, Xeinadin has grown at pace and now has over 135 offices, more than 2,000 professional advisors and 80,000 clients across Ireland and Britain.   “We are ranked eighth in Ireland in terms of turnover,” notes Area Managing Partner Paul O’Connell whose own firm, Cork-based Quintas, joined Xeinadin in late 2023.  Looking back on the history of Xeinadin, O’Connell explains that it was established in 2019 when some 100 accountancy practices came together to collaborate and share resources.  “At the start, it was a group of independent firms agreeing to collaborate, but they worked together to build a core structure to bring the different offices together,” he says. “They set up shared IT systems and HR, compliance, training, business development, marketing and finance functions and, today, we are one ‘Xeinadin’ – one firm with one structure and common systems and policies. It’s not a franchise or a network model. We are one firm with everyone in it collaborating together as colleagues.” Growth ambitions The firm’s growth ambitions received a significant boost when private equity investor Exponent bought into it two years ago. “Xeinadin has been on the acquisition trail ever since,” says O’Connell.  “Thirty offices joined the firm in the last two years, and we see significant further consolidation in the accountancy sector over the next two or three years.  “Exponent has been a brilliant partner to work with and have been hugely supportive. They have really got involved in a positive way to drive the growth and development of the business.” Six months ago, Xeinadin announced a €40 million investment in the Irish market with the aim of further expanding its footprint here with a core focus on taxation, business advisory and audit services for SMEs across the country. “We have already pretty much committed 40 percent of that,” O’Connell says. “We are at the advanced stages of legals and due diligence with five firms and we hope to complete those deals over the coming months. We are well down the road in terms of committing the €40 million.” The business has a strong regional focus, he adds.  “We are already in Dublin, Kildare, Kilkenny, Wexford, Cork, Limerick, Galway and Belfast and we are now focusing on areas like the Midlands, Waterford, Kerry and Mayo. We already have an office in Galway, but we want to expand there. We still have an eye on Cork, Limerick and Dublin as well, of course.  “Other firms looking at consolidation tend to focus on the major cities. We have a different focus because our client base is mainly made up of SMEs and having a local presence is really important to them and to us. We want to be close to them to build lasting relationships.” Location isn’t the only determining factor and Xeinadin is highly selective in the firms it wants to acquire, O’Connell points out.  “We are targeting high quality firms with ambitious partners who want to join us on a journey to drive the business on and avail of the growth opportunities being part of Xeinadin can bring.” The backing of Xeinadin is important in a number of ways. “Most smaller firms aren’t in a position to offer speciality services to their clients. They can offer those services through collaboration with other offices in the group,” O’Connell says.  “That will enable them to become the firm of choice in their locality helping to drive growth. My own office here in Cork has seen its headcount grow by 20 per cent since we joined Xeinadin.” Consolidation in accountancy The trend towards consolidation is by no means limited to the accountancy sector. “We are seeing it across every sector and in our own client base where the volume of transactions has been increasing steadily in recent years. The reasons vary but there are a number of core drivers. Succession planning is one.” As O’Connell sees it, the old model among accountancy practices – whereby a new partner would borrow to fund their way in to replacing a retiring partner – doesn’t really work anymore.  “Socio-economic changes mean that people are buying homes and starting families later in life. They don’t have the access to finance they did in the past. There has to be a different way of accommodating generational change.” He also notes other challenges facing small practices with one or two partners, including the necessity to meet the fast-changing and more complex needs of business clients.  “As part of Xeinadin, firms have access to the resources of the whole group when meeting those needs. With artificial intelligence coming down the line and the requirement to keep pace with issues like sustainability, this is very important.” Recruiting and retaining good employees is equally important says O’Connell, pointing to an example where one of the firm’s offices in a regional location was experiencing difficulties recruiting a Tax Partner.  “They were struggling due to their location,” he says. “We were able to recruit the partner here in Cork and they can now work in a Cork city location for that office. That would not have been possible in a standalone situation.” Similarly, when the Dublin office needed assistance with a large audit job, the Cork office was able to send a team to help out. The firm also offers good opportunities for young accountants, O’Connell says.  “Xeinadin can offer better training programmes and structured graduate programmes small offices just can’t provide. There is also the opportunity to move to other offices, both in Ireland and the UK, where they can gain experience working with a much wider variety of clients.” Economic outlook Turning to the economy and the recent budget, O’Connell is somewhat disappointed with the lack of business supports provided. “There was little or nothing in the budget for business,” he says. “It was very much focused on individuals.” The lack of movement on the hospitality VAT rate was especially disappointing. “I strongly believe the VAT rate should come down to nine percent, particularly for food. This is an absolute necessity. The 13.5 percent rate could be retained for accommodation. We have seen a large number of closures in the industry over the past 12 months and there are many more coming down the track.” Outlining some of the cost challenges facing the industry, he says: “The minimum wage has gone up by 38 percent since just before Covid, for example. Even people working in the industry don’t fully appreciate the cost challenge.  “I visited a restaurant client recently and I went through the costs involved in producing one of their best-selling brunch menu items. By the time I had gone through everything from the raw material and labour and the costs of napkins and energy to the share of overheads, they were left with a profit of 20 cent from the €13 charged to their customers. I hope the new government addresses the VAT rate as a matter of urgency.” He is more optimistic about the outlook for the wider business community in Ireland. “There is real positivity out there in terms of the economy. Cork is flying, but we do need further investment in transport and infrastructure.” Returning to Xeinadin and its future plans, conversations are already underway with other potential targets for acquisition with the remainder of the €40 million.  “Firms are aware of what we’re doing, our approach and the value we bring. It’s not about growth for the sake of growth. It’s about targeted growth in the regions and other specific areas. And firms joining Xeinadin have to align with our values, culture and long-term vision for the business.”

Larissa Feeney’s varied career set her on the path to business success as founder of award-winning online accountancy and business services firm Kinore, writes Barry McCall It may come as a surprise, but the founder and CEO of the Irish Accountancy Awards Online Practice of the Year didn’t set out to be an accountant. Despite accounting being her best subject in school, Larissa Feeney initially wanted to pursue a career in hospitality. “Looking back now, I don’t know if I got the right guidance at school or just didn’t listen to it,” says the Kinore founder and Chief Executive who has built Ireland’s first online, remote-first finance and business services company from revenue of €300,000 in 2017 to €4 million today. “We have seen year-on-year revenue growth of more than 30 percent and we are aiming to grow revenue to €15 million by 2028. We also plan to double our workforce from 75 to 150 employees over the next 18 months,” Feeney says. This remarkable success story began 25 years ago when the Ulster University hospitality graduate decided on a change in career direction. She had been working at a Donegal hotel for the summer following her graduation. “It was almost like Fawlty Towers,” she recalls. “It only opened for the season, and they threw everything at it. We worked morning ‘til night for seven days a week.” Then Feeney spotted an unusual job advert for a Director of First Impressions – receptionist – with Claremount Chartered Accountants in Derry. Not only was she intrigued by the advert, she was attracted by the idea of a nine-to-five job. “The Managing Partner, Gary Heaney, was very much ahead of his time and open to new ideas. That was my first exposure to an accountancy practice. I got to see just how important accountancy is. I saw clients coming in worried about something and coming out feeling okay. The impression I got was that accountants solved their problems for them.” Path to accountancy Her experience at Claremount Chartered Accountants set Feeney on a new path. “I asked the Managing Partner if the practice would put me through the accountancy exams and he said yes.” She qualified as a Chartered Accountant in November 2004 and stayed with the practice until the end of her contract in June 2005. “It was a fantastic journey. Gary Heaney didn’t have to say yes. If he had said no, things might be very different.” Feeney’s decision to leave was prompted by a desire to further her career. “I went into industry. I have always been fascinated by business and I wanted to learn about its inner workings.” She went to work for JML Transport in Donegal. “It was quite a significant business at the time. One of the directors, Bríd McLaughlin, was an unbelievable businesswoman. I gained great insights from her on the minute detail of how to run a business well. That was my first exposure to a woman in a senior position in business and it left an impression on me. She was well able to hold her own in a very tough, very male dominated business in an industry with tiny margins. I never would have got those insights had I stayed in practice.” Fate played a hand at that point. While Feeney was on maternity leave with her second child, the company sold off a substantial chunk of its business.  “While on leave, I had local people coming to me asking if I could do their books and VAT and so on. I asked if I could come back two or three days a week and keep on doing the other work. Bríd McLaughlin said yes. I reduced my time with JML over the years and the company eventually became a client. It happened quite organically, there was never a full stop when I jumped into self-employment.” Concept for Kinore The next significant point in Feeney’s journey came about as a result of another newspaper advert, this time from an accountancy practice in Derry looking for an accountant to take on work on a sub-contract basis.  “The accountant had been ill for a year, and it was coming up to UK self-assessment time in January. He had 30 to 40 clients and was struggling to get their tax returns done on time. I drove over, picked up the files and did the work back at home. It worked very well. He then offered to sell me the book of clients and that was really the start of me building my own client book.” Looking after all those clients from home planted a seed. “They didn’t care where it got done so long as it was on time and correct,” Feeney says.  “That was what started the concept of Accountant Online (the former name of Kinore). The website went live in 2011.  “Client numbers were very low at the time. I was doing everything myself, including blogging and web posts and so on. The first call I got was from a company in Cork that wanted me to do their accounts. It was during the recession, and I probably benefited from that. Companies were looking for cost-effective alternatives for everything at the time.” Roll on five years to a discussion in Derry about Brexit. “One of the people there represented an investor who decided to put some money into the business to take a small stake in Accountant Online,” Feeney explains.  “It wasn’t just about the money. The investor brought skills and advice as well. In 2017, I hired our Director of Sales and Marketing, Rose Kervick. Having her coming in at senior level helped to grow the business.  “An accountant has a very narrow set of skills, and you need a broader set to grow a business. Rose really helped in that area. We invested in digital marketing, online client engagement and so on. It has been a super growth journey since. There have been huge learnings on the way and loads of things I did right and didn’t do right.” Business expansion It has been difficult to keep up with the growth of the business at times, Feeney says. “You have to make sure you have the right structures in place. We are accredited to ISO standards and always make sure the quality is correct in areas like cyber and data security. We are also investing in automation and digitalisation.” For her, the key learning has been the importance of having the right people around you. “When you have the right team around you, you can achieve your goals. If you get that right, everything else is doable. The other one is the importance of our clients. We always put our clients at the centre of what we do. We work in partnership with them, we go on a journey with them. That’s our culture.” Looking after the people in the business is also important. “Working remotely can be hard. You don’t have learning by osmosis and water cooler moments. We are intentionally remote, and we invest massively to do it really well. What you save on office space you need to invest in bringing your people together.” Having grown a multi-million euro business while also being a busy mother to three children, Feeney has some advice for other businesswomen.  “It is not possible to grow a business and raise a family without a massive amount of support. You can’t do it on your own. I have had great support in the business and at home. My husband has been a massive support. You need to delegate, delegate, delegate and have the best people around you in all areas.” Looking ahead, she says the future is “growth, growth and growth.” “I am very lucky to have a young, ambitious and driven senior team in the business. They want to grow the business and help the people in it to reach their full potential. We will grow organically in Ireland and will expand into export markets and through acquisitions.”

Barry C. Melancon, outgoing CEO of AICPA & CIMA, talks to Accountancy Ireland about the need for the profession to learn and adapt at a time of rapid change and unprecedented opportunity Accounting is undergoing change as never before, driven by the evolving needs of global business, regulatory regimes and – above all – the rapid emergence of new technologies that promise to transform the profession in the years ahead. Amidst all this change, a willingness to learn and adapt will be critical for accountants in all sectors. “Now is a time for reflection, particularly for those in our profession at the mid-career stage,” says Barry C. Melancon, CPA, CGMA.  Melancon is the outgoing CEO of the Association of International Certified Professional Accountants, the professional body formed by the American Institute of CPAs (AICPA) and The Chartered Institute of Management Accountants (CIMA). “Younger people are coming in as digital natives and the pace of change in the world today, certainly with regard to technology, requires us to be fully committed to adapting our competencies to keep pace,” says Melancon. “It is not the first time change has been required in our profession – for us, change is a constant – but the leap we need to take today is bigger than ever before, and we will need to adapt faster than ever before.” Committing to change as a constant In his role as President and CEO of the AICPA, Melancon was instrumental in overseeing its alliance with the Chartered Institute of Management Accountants to form the Association of International Certified Professional Accountants (AICPA & CIMA). Established in 2017, the association now has close to 600,000 members, candidates and registrants in 188 countries and territories worldwide. As he prepares to hand over the reins to incoming AICPA & CIMA CEO Mark Koziel, Melancon reflects on his achievements over three decades as AICPA’s longest serving CEO. “Serving the profession over the last 30 years has been a great honour and I have been fortunate to have played a part in its transformation,” he says. “The reality is that the role has been a change management process from the very start. The question at the outset was, ‘how do we create the organisation of the future?’ “My goal was to make the AICPA an organisation that would create a more permissive environment in which the profession could broaden its reach and become more successful – and I do sincerely think we have succeeded in opening people’s eyes to what the profession can be. “At the same time, today – as much as at any other time in the last 30 years – the importance of trust in our profession is paramount. “Trust is our trademark and, no matter how much or how quickly the world around us changes, we must continue to be committed to the trust and objectivity that sets our profession apart, and the value we create for those we work with.” Broad business lens Melancon grew up on the Gulf Coast of southern Louisiana and graduated from Nicholls State University in 1978, majoring in accounting with a minor in government policy.  “I went to university thinking I would be a lawyer and, during my first semester, realised I had a greater interest in business. I took an accounting course and discovered that, if I wanted to have a strong business perspective, accounting would be the best path to take,” he explains. “My perception was that accounting could give me the broadest ‘intellect’ as it relates to business. All the disciplines of business are encompassed in accounting in some form – management, economics, finance – the whole gamut.  “I think this still holds true today. This profession gives us the best and widest lens of all business disciplines.” Melancon began his accounting career in 1979 with a CPA firm in Louisiana before being appointed CEO of the Society of Louisiana Certified Public Accountants in 1987 and, subsequently, as CEO of the AICPA in 1995. “Like many people in our profession, I started out doing accounting, auditing and tax work,” he says. “I had a goal to become a partner in a CPA firm by the age of 25 and, as I’d started school at a very young age and skipped years along the way academically, I succeeded in reaching that goal.” Crucial role as trusted advisors At this early stage in his accounting career, Melancon worked exclusively with small and medium-sized enterprises (SMEs) and not-for-profit organisations. This experience, he says, formed his “early accounting perspective” and instilled an abiding respect for the value of SMEs in economies worldwide and the critical role accountants play in supporting and elevating entrepreneurial endeavour for the benefit of all. “This has been really key for me as as President and CEO of AICPA – creating an environment in which our profession can flourish has been about that wider business lens,” Melancon says. “There are thousands of SMEs around the world. SMEs are the lifeblood of most economies, both established and emerging. Entrepreneurs see opportunities and build businesses, and the expertise of the accounting profession helps them succeed and grow. “Society benefits, but we know SMEs also have high failure rates. They can have a much higher success rate if they walk hand in hand with a professional who really understands all aspects of their business and can act as the purveyor of truth and effective information.” As Melancon sees it, accountants have a crucial role to play as trusted advisors whose strategic and principled guidance is critical in business the world over. “Often, you will find that an accountant working with a business owner knows more about them than anyone else,” he says.  “If the business owner has a health issue or personal challenge, they will ask their accountant, ‘What does this mean for my business? What should I do?’ If they have concerns about competitors, cashflow or business acquisitions, the accountant is the first person they will consult.  “The business owner will understand their business model, the products or services they are selling and the market they are selling to, but their accountant will be the expert in pretty much every other aspect of how to run the business to make it successful.” Elevated role of the profession Beyond the SME environment, accountants in practice and the corporate world are assuming an increasingly prominent role in the boardroom. “Our role right across the board is becoming more strategic. It comes back to that ‘wide lens’ we offer and the higher-level skills we apply to deciphering the complexity of the world we operate in,” Melancon says. “In the corporate environment, leadership is looking to the finance function for more answers, particularly in areas such as environmental, social and governance (ESG) where decision-making is increasingly data driven. “If we look at the audit function, particularly in relation to larger capital market companies, we have moved from purely auditing financial statements to providing third party assurance across a whole range of areas, from ESG to cybersecurity, and this will only continue to expand. “With artificial intelligence (AI) – right now, people are really not sure if they can or should trust it. This will change and it will change rapidly – and we, as a profession, will be key to providing the assurance, objectivity and trust that is needed.  “Our tagline at AICPA & CIMA is, ‘We empower trust, opportunity and prosperity.’ That’s not just about the profession; it’s about society at large.” Emerging business models In tandem with the evolving role of the accountant, the traditional structure of accountancy firms is also changing. “AI, in particular, will fundamentally change the ‘shape’ of accountancy firms and the traditional leverage model,” Melancon says. “With the leverage model, the largest number of employees in accountancy firms have traditionally been at the entry-level – the base of the organisation – where a significant amount of the firm’s transactional activity has taken place. “As people starting out at entry-level progress their careers, they move up to the middle of the organisation, where there is a greater need for cognitive skills and business acumen. “Then, at the top of the pyramid, on the corporate side, you have the C-suite executives and in the firms, you have the partners and owners.  “This leverage model has served our profession well over the years, but, today, the need for all that work at the ‘base’ or entry level is rapidly falling away, in part due to technology like AI and automation. “Instead of pyramid-shaped firms, we will be predominantly ‘fat-middle’ organisations, so we will need to get more people into that middle more quickly with the business acumen and skills they need to build strong relationships with clients.” Robert Stokes award On a recent trip to Dublin to attend the Global Accounting Alliance Board Meeting in late October, Melancon received the Chartered Accountants Ireland Founders Award. The Robert Stokes Medal was presented to Melancon by Barry Doyle, President of Chartered Accountants Ireland, at a special event, in recognition of his outstanding contribution to the accounting profession.  The award represents the characteristics of Robert Stokes, the founder of Chartered Accountants Ireland, a pioneer and a courageous independent thinker, committed to fairness and “levelling the playing field”. Looking ahead to the future of accounting and younger generations entering the profession, Melancon reflected on the need for passion, ambition, commitment and confidence. “Accounting is a profession; it is not just a job. I think this mindset is really important. I don’t think people in any generation can expect to have truly long-term career success unless they understand the need for this professional commitment. Passion is important.” “When I became CEO of the AICPA at 37, a very wise person who headed up one of the largest professional services firms in the world at the time, said to me, ‘Barry, I don’t know you, but I know people put you in this position and my only advice to you is to be yourself.’ “I think the younger generation coming into accounting do bring themselves to the profession. They bring something new and valuable in terms of what they have learned and how they have learned it. “They are more tech-savvy and probably more worldly. They have access to much broader information sets. My message to these younger accountants is to value all of this and to ‘be yourself.’  “You also need to have clear goals and the confidence to speak to others around you about your goals and how to reach them. Seek people’s help and advice, and act on it.  “When I started out in my first role with that small firm in Louisiana, the Partners knew I wanted to be a Partner myself by 25.  “I wasn’t shy about it, and they supported me. They told me, ‘This is what you need to do to get there,’ and I was able to achieve my goal.  “It is important to have the confidence to talk to the people above you in a constructive, honest and positive way about what you want to be – to be yourself, in other words.  “Our profession requires that kind of commitment and, with their skills in technology, younger accountants today can play a very important role in preparing our profession for tomorrow.” *Interview by Elaine O’Regan

Carmel Moore, FCA, Director at the One Moment Company, has seen the number of women in senior positions rise throughout her career, but, she says, true equality has yet to be reached From my convent school days to becoming a Chartered Accountant, an in-house Tax Director, a Big Four Tax Partner, and now running my own business, my career has been far from linear.  I never followed a grand plan or five-year roadmap – just trusted my gut, took risks and made mistakes along the way. My original aspirations were creative, but the harsh reality of Ireland’s job market steered me towards the accountancy profession.  As a law graduate, I started my career with KPMG. On the first day of my training contract, despite the new suit, the shoulder pads and the briefcase, the bus conductor still charged me the children’s fare.  This early career path laid the groundwork for an unexpected, yet deeply fulfilling, professional journey.  I moved to London (for romantic reasons) in the late 1980s. My heart was broken while I was there, but my career flourished. I spent 13 happy years on the in-house tax team at Barclays.  My next chapter took me to Pfizer, as Senior Director of the European Tax Centre. That role, filled with challenge and variety, alongside a hugely talented team, sparked my interest in coaching and leadership development. I became a Partner at EY in London, specialising in tax transformation, honing my expertise in change management and leadership development for deep technical experts, focusing on balancing subject matter expertise with soft skills, communication and handling ambiguity. Since 2017, I’ve been on a different path, co-founding the One Moment Company with my wise and wonderful business partner, Marty Boroson.  An unlikely combination of a zen priest and a Chartered Accountant, we are a specialist consulting and leadership business that is 100 percent focused on time, with a radical approach that is very different from traditional time management.  I believe that women have been taught to think about time differently to men. Growing up, I learned that time was a resource to be used for the benefit of others.  The women around me put their own needs last. It’s still a deep-seated belief that underpins the busy lives of the women I coach, and it holds them back.  I’ve always had an academic side hustle. I like to say it’s a love of learning, but it’s really a love of pens and stationery!  I have a master’s degree in English literature from King’s College London and I am a Master Practitioner in Neuro-linguistic Programming.  I’ve studied organisational development. I’ve done an Advanced Diploma in Personal, Leadership and Executive Coaching at Kingstown College. And now, my son has just signed me up for a refresher course in Irish. Every day really is a school day. Gender equity in the accounting profession I’ve witnessed significant progress in gender equity over the years, but it is never enough. I’ve been the only woman on a team several times (including at the gym this morning). I didn’t work for a woman until 2006.  I’ve experienced everything from clumsy flirtation, to pay disparity, to being overlooked for an overseas promotion opportunity (“But you have a baby! We didn’t think you would want to go!”) to being formally reprimanded for my more eccentric fashion choices.  I’ve run the gamut of the many indignities a woman can experience in the workplace.  My way of dealing with things early on was to be very, very professional – aka terrifying. One particularly mortifying round of 360 feedback revealed that is exactly how people experienced me: scary.  Even my handbag received an honourable mention in the feedback: “She wields her handbag like a battle shield.”   Being this way was exhausting. I would come home wrung out every evening, remove the suit of armour and collapse with a Chardonnay. A coaching course taught me that flexibility, softness and openness are part of leadership.  I haven’t always been vocal and visible when it comes to women in the workplace. As I became busier with family and with work, I relaxed my vigilance. I had this vague idea that things were better, weren’t they? I was so wrong.  A chance hosting of a young female leader’s event revealed that, despite advancements, women were still not feeling there had been any change.  They had the same questions that had troubled me all those years ago: imposter syndrome, not speaking up in meetings, not advocating for oneself, work-life balance issues, fear of failure, networking difficulties and lack of mentorship.  I resolved to do better and use my coaching and leadership development skills to support others. It has been a joy.  Today, more women are stepping into influential leadership positions in finance with grace and strength, though the journey is far from complete.  I would love to see a continued push towards not just increasing the number of women in leadership, but also ensuring their voices are heard and valued equally and integrated into commercial decision-making processes. Navigating career advancement and mentoring My career has been one of many organic steps. It has evolved through recognising opportunities as they have arisen.  I will give anything a go – I am open to new experiences. That, and retaining an Irish sense of humour. It’s defused many a tense steering committee! Mentoring and networking relationships are crucial for women as they progress in their careers. Everyone needs to take all the help they can.  There are potential mentors everywhere. Make a list of people you admire in your company, ex-colleagues, or someone interesting you met at a conference. Ask for advice. Good people love to help.  My own experiences with mentoring have been enriching; particularly the dynamic exchange in my reverse mentoring relationships. I would recommend it.  The quest for work-life balance Achieving work-life balance has been tough, especially in high-demand roles.  A major spine operation in 2014 forced me to reevaluate my priorities and slow down, reminding me that self-care isn’t optional.  I learned the hard way. The key is setting boundaries and being intentional about how you allocate your time.  If I could give one piece of advice to my younger self, it would be to trust your instincts.  The times when I ignored or overrode my gut feelings didn’t end well. Trusting your intuition in decision-making is crucial, as it aligns with your core values and aspirations.  The future of gender equality I joined a group of women leaders at the Institute recently to meet with the Minister for Finance, Jack Chambers. We discussed the unique challenges faced by women in their career journeys and how these barriers can be more effectively addressed by policymakers.  But the discussion went deeper. There was a profound exchange on how society needs to change for the better, to create and foster truly inclusive workplaces.  Women shouldn’t have to contort their lives to fit in. The Institute is committed to taking this agenda forward and we’ve been shaping what a dedicated women’s programme could offer. I would advocate for more courageous workplace conversations in real-time, rather than relying solely on policies and events.  It is important to address inequities as they occur and foster a more immediate and impactful learning environment for everyone. But women need the skills and confidence to host these conversations. This is where coaching and mentoring play their part. Reflecting on my journey, I find that each step and misstep along the way has contributed to a broader understanding of work and life.  Despite the miles travelled, I still feel as though I am just starting, eager to learn and contribute.