In conversation with Katharine Byrne FCA

What's your typical day as a Partner at BDO?

Thankfully, there’s no such thing as a typical day in corporate finance, which is the reason I enjoy the role so much. As an adviser to entrepreneurial clients, no two transactions are ever the same. Whether we are buying or selling a business or raising finance to support expansion plans, my principal role is to maximise value for our clients by managing the process as effectively as possible and supporting them through what often can be described as a roller coaster ride.

Our team and partner meetings are generally scheduled first thing in the morning, and after that it’s plenty of coffee to keep me going!

You're on the 'Brexit Taskforce' in BDO - what do you think is the biggest Brexit challenge coming up for Ireland in the next two years?

While no one knows what Brexit will ultimately look like, but what we do know is that Irish businesses need to start preparing now. At present, one key element that businesses can plan for is the potential impact of a customs border on their day-to-day operations. Business plans are constantly evolving, so scenario planning and obtaining advice from indirect tax experts will assist management in considering their strategic options. The challenge for most companies is not to stagnate and await the final outcome but to maintain growth throughout the period of uncertainty.

You're also the Chairperson The Friends of St Luke’s Charity. What inspired your participation?

I was invited to meet with the Chairman in 2012 due to my involvement in the healthcare sector. While I hadn't previously considered getting involved with a charity, I was convinced to take on the role of Honorary Treasurer at a time when the charity sector was experiencing significant changes.

From the outset it was clear that The Friends of St Luke’s was very well run, with a professional voluntary board representing a variety of disciplines. It only took one meeting and a walk through the hospital to see the direct benefits of the charity’s fundraising for me to be inspired to join the board.

How has being involved in The Friends of St Luke’s Charity benefited your life?

Over the last five years I have learned that the success of the Friends is attributable to the dedicated support of its nationwide volunteers. We have all lost friends or loved ones to cancer, and we can often feel helpless as to what to do. It has been really humbling to witness the fundraising initiatives of those families whose lives have been directly affected by the wonderful staff at St. Luke's Hospital and the network.

What are some of your long-term goals?

With four young kids and a (very!) supportive husband, I don’t get too much time to plan long-term personal goals. I do however stick to my motto of “enjoy your job and enjoy life”.

In terms of business goals, last year I commenced a leadership development program with the BDO international network which has helped me to build on the critical elements required of me in my role. Technology, such as AI, will inevitably force change in the world of corporate finance. This will present challenges for me in my career, as well as opportunities.

I am fortunate in that I frequently get a sense of real achievement from completing a deal. The diversity of our clients keeps it interesting for me and I am meeting new and interesting people all of the time.

Who had the greatest influence on your career?

My Dad always referred to the Covey principal of “win-win”, which has been a core principal in my dealings with clients, as greed is the death of a good deal!   

I’ve been lucky to have worked with a number of great mentors in BDO. Hugh Cooney in particular taught me that (i) a solution can always be found if the deal makes business sense; and (ii) the keys to landing successful deals are continuous networking and developing client relationships (over a good pint where possible!).