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In the age of AI and automation, accounting firms face fierce competition. Now more than ever, a strong brand can promote trust, client loyalty and long-term growth, writes Gerard Tannem Competition in the professional services industry is fiercer than ever, and accounting firms must differentiate themselves to thrive. With the advent of software tools and generative AI (genAI), technical expertise is no longer difficult to come by. Building a strong brand has become a critical strategic imperative for accounting firms. A brand isn’t merely a logo or a tagline. Instead, it’s a tool that influences choice by reflecting the value exchanged between a firm and its clients. A strong brand can significantly impact accounting firm’s growth, client loyalty and long-term success. Best of all, when your brand becomes shorthand, it can serve as a unit of value for your accounting firm and clients. Branding as a strategic business tool A brand is far more than a name or visual identity. It’s a powerful business tool that distinguishes a firm from competitors. Technical competence is often assumed when potential clients are looking for an accounting firm. Your ability to create a balance sheet is taken for granted. However, if you build a brand that denotes trust, reliability and the ability to deliver value, you differentiate your accountancy firm in a crowded market. In addition, you create a lot of reassurance for your client that their financials are in safe and capable hands. The benefits for each party in the commercial relationship are evident when we define a brand as a “tool that influences choice by reflecting the commercial relationship between the buyer and the seller and the value they exchange as a result.” This definition resonates particularly well in the accounting profession. An accountant/client relationship is built on delivering high-stakes value, such as compliance, financial insights and strategic guidance. By investing in their brands, accounting firms position themselves as service providers and trusted advisors. Building value for clients A strong brand offers clients peace of mind that their requirements are being met and signals that the accounting firm has the expertise, professionalism and integrity needed to handle sensitive financial matters. A well-established brand reduces the perceived risk of engaging a new firm, particularly for high-value services such as audits, tax strategy or business advisory. Clients often use branding as a shortcut for decision-making, especially when they lack the time or expertise to evaluate each firm deeply. A recognisable and respected brand becomes a proxy for quality, helping clients feel confident in their choices. For example, a client might choose a firm with a strong reputation for sustainability initiatives, or one known for its innovative approach to technology in financial management. The brand acts as a bridge aligning the firm’s offerings with the client’s expectations and values. Creating value for accounting firms Branding can help accounting firms attract and retain clients, sustain pricing power (no small consideration, as genAI continues to eat into the margins of many industries) and establish market positioning. A strong brand creates a foundation for client loyalty. This translates into repeat business and referrals. It can also command a premium; clients are often willing to pay more for a firm whose brand reflects superior quality or specialised expertise. Moreover, branding can unify a firm's internal and external stakeholders around a common identity and mission. A well-defined brand helps staff understand the value proposition they deliver to clients, fostering a sense of pride and commitment. This internal alignment can be critical for larger firms with multiple service lines, helping ensure consistency across various client interactions. A competitive imperative For accounting firms, branding is no longer optional. It is a competitive imperative that aligns the firm’s capabilities with the needs and values of its clients. By building a strong brand, firms can influence client choice and foster loyalty, and position themselves for long-term success in an increasingly competitive marketplace. Investing in branding isn’t just about aesthetics or advertising. It’s about building a sustainable foundation for growth and creating value for both the firm and its clients. In an industry built on trust and relationships, a strong brand is the bridge connecting expertise with client confidence. For accounting firms ready to differentiate themselves, branding is not just a strategic option. It’s the key to thriving in today’s market. Gerard Tannam is the founder of Islandbridge Brand Development. His book, Branding for SMEs: A Guide, is published by Chartered Accountants Ireland and is available for download.

Integrity due diligence is essential for identifying risks, protecting reputations and ensuring compliance in today’s evolving business landscape, explains Deirdre McGrath Integrity due diligence (IDD) identifies risks that traditional due diligence might miss by using a risk-based approach to review the compliance and integrity of potential counterparties. Key risk categories reported on include financial health, anti-bribery and corruption, political connections, environmental impact, reputational risk (e.g. adverse media) and labour/human rights issues. Trust, reputation and risk mitigation are crucial in today's fast-paced global business environment. Knowing your customers, suppliers or contractors before and during business engagements is essential for making informed decisions and managing risks effectively. Public scrutiny and evolving regulations are putting increasing pressure on companies to identify and mitigate risks with business partners, including suppliers, customers, agents and employees. These risks encompass sanctions, financial sustainability, environmental impact, forced labour and human rights abuses. New EU regulations mandate supply chain mapping and human rights risk assessments. For instance, in March 2024, the European Council and Parliament agreed to prohibit products made with forced labour. IDD reviews can identify these risks.  PwC’s 2024 Global Economic Crime Survey revealed that only 50 percent of Irish companies had a third-party risk management programme. IDD is crucial for risk mitigation, helping organisations understand their counterparties and make informed decisions. For companies, IDD can identify ownership structures, business activities, clients, partners, financial performance, reputation, misconduct, disputes, litigation, key stakeholders, sources of funds and political connections. For individuals, IDD can examine career history, corporate affiliations, directorships, shareholdings, adverse media, litigation, financial positions, reputation, financial trends, insolvency, political connections, donations and sources of wealth. The UK’s Financial Conduct Authority (FCA) recommends open-source internet checks as “good practice” for human resources and high-risk customer research. Benefits of IDD IDD is essential for an organisation’s risk assessment process, helping meet obligations related to anti-money laundering, bribery, corruption and environmental, social and governance requirements under the Corporate Sustainability Reporting Directive and other regulations, such as those issued by the Central Bank of Ireland. It supports due diligence and compliance for mergers, acquisitions, investments and joint ventures. When adverse issues are identified, businesses can make informed decisions to either withdraw interest or implement mitigating procedures to protect their integrity and reputation. IDD also aids in reputation and brand protection by highlighting risks associated with existing or potential suppliers in relevant jurisdictions. It provides strategic, competitive intelligence by gathering information on competitor strengths and weaknesses, impacting growth opportunities and long-term strategy through industry trend analysis. In legal proceedings, IDD can play an important part in securing financial orders by identifying evidence to recover misappropriated funds. For higher-risk third parties, IDD can form part of a legal defence, demonstrating that a corporate body took “all reasonable steps” and “exercised due diligence” to avoid bribery and corruption offences. There are several use cases for IDD, which are outlined below. Know your client, supplier or employee: Conduct detailed reviews of business partners or potential hires, focusing on key risks such as financial performance, reputation (both positive and negative), and ESG risks. CSRD: Help clients report using the European Sustainability Reporting Standards (ESRS) and support company and auditor determinations that a topic/sub-topic may or may not be material to a company. Fitness and probity diligence for regulated firms: Perform background checks on individuals to support initial and ongoing fitness and probity certifications for key and customer-facing roles under the Central Bank of Ireland’s Individual Accountability Framework. Global sanctions screening: remediation screening, support for sanctions investigations and ongoing monitoring or advisory services for sanctions policies, procedures and processes. Mergers and acquisitions diligence: Identify information to evaluate businesses, assess potential value, and understand legal risks associated with transactions, including liability, debarment, prior conduct, ownership and management conflicts of interest. Joint ventures, partnerships, or business alliances: Understand significant risk relationships, especially in higher-risk countries, and assess potential sources of funding, wealth or media findings. Business divestment: Evaluate who you are doing business with or selling your business to, ensuring informed decisions. Investigations: Support investigations by identifying personal, business or social connections between various parties of interest. Asset tracing: This involves identifying assets held by companies or individuals, such as equity, property, and other lifestyle assets. It helps banks pursue defaulting borrowers, supports divorce cases, assists in pre-civil litigation and identifies evidence of fraud or misappropriation of assets. Looking to the future: recent legislative developments Companies should be aware of upcoming European directives, specifically the CSRD and the Corporate Sustainability Due Diligence Directive (CSDDD). These directives will increase the focus on due diligence within global operations and supply chains to prevent adverse human rights and environmental impacts. They will also drive more detailed reporting, disclosure requirements and transparency around business processes. Findings from IDD open-source intelligence searches and related human-sourced intelligence resources can help clients avoid penalties for non-compliance with these new regulations. These four key steps will help organisations get ready for IDD: Prepare: start preparing early to ensure compliance with upcoming legislation. Assess: determine if and how the new legislation applies to your company or group of companies. Appoint: designate an internal lead or project team to develop due diligence policies, procedures and infrastructure. Ensure timely implementation of necessary changes. Decide: choose the due diligence process that best suits your requirements. Deirdre McGrath is a Partner at PwC 

Eva Sheehy explores how Irish businesses are leading in ESG readiness, with CEOs confident in meeting 2025 deadlines and reaping financial and strategic benefits As deadlines for environmental, social and governance (ESG) reporting rapidly approach, Irish businesses are intensifying their focus on robust ESG programmes. In the EU, reports are due to start appearing from the largest companies in early 2025, and this reporting wave will require independent assurance on ESG and human rights matters. Recent findings from the KPMG CEO Outlook 2024 illuminate the critical importance of these initiatives, highlighting a strong conviction among Irish CEOs that ESG practices hold financial benefits. Global context vs Ireland's position Globally, the situation is challenging. KPMG research has found that only 29 percent of companies worldwide have the ESG policies, skills and systems in place to be ready for independent ESG data assurance despite looming deadlines. The gap between leading companies and those in the early stages of assurance readiness is also widening, with skills and resources seen as the single biggest challenge for all levels of maturity. However, here in Ireland, we are in a much stronger position. Recent findings from the KPMG CEO Outlook 2024 highlight that 60 percent of Irish CEOs report that their organisation possesses the necessary capability and capacity to meet these stringent reporting requirements – preparedness that is crucial as companies navigate the complex landscape of ESG reporting, which demands transparency, accuracy and accountability. The clock is ticking. In preparing for ESG assurance, businesses are discovering that as they advance, there’s always more to understand and accomplish. This commitment is worthwhile – boards are placing greater emphasis on ESG assurance and leaders are noticing a broader array of benefits as practices associated with it become integrated into their businesses. Robust ESG reporting also provides a framework for continuous improvement as companies set ambitious targets, monitor progress and make informed decisions that drive long-term value creation. Assurance services play a critical role in this process, providing independent verification of ESG data and enhancing the credibility of the reported information. The business case for ESG initiatives The business case for ESG initiatives is increasingly well-defined. Recent research from KPMG also shows that 63 percent of organisations in Ireland are fully embedding ESG into their strategies to create increased value. The return on investment is also predicted in the relatively near future, with 66 percent of CEOs in Ireland believing such robust ESG programmes will enhance their financial performance over the next five years. This integration reflects a broader trend towards sustainability and ethical governance, which not only meets regulatory requirements but also aligns with investor and consumer expectations and underscores the growing recognition of ESG’s vital role in business strategy and its potential to drive value and sustainability for stakeholders. The critical role of robust ESG reporting and assurance As reporting deadlines loom, the importance of robust ESG reporting and assurance cannot be overstated. Accurate and transparent reporting is essential for building trust with investors, customers, and employees. It demonstrates a company’s commitment to sustainability and ethical practices, which are increasingly important criteria for stakeholder engagement. Skills and resources a key challenge Obtaining appropriately skilled and experienced people will also be a challenge. Many businesses are looking for the same skillsets at the same time, and those skills are very specialised. On top of that, the further businesses advance in the process, the more skills requirements they discover they will need to reach full ESG reporting and assurance maturity. This often involves not only hiring new talent, but also investing in extensive training for existing employees to ensure they are up-to-date with the latest standards and practices in ESG reporting. Ultimately, Irish businesses must remain adaptable and proactive as the landscape evolves, requiring a dynamic approach to skill development. This is essential to meet the stringent requirements and to achieve the long-term benefits of robust ESG practices. Eva Sheehy is Director in the ESG Reporting and Assurance team at KPMG

Kate Flanagan shares five expert tips to redefine success, celebrate progress, and climb with confidence on your unique career journey Feeling stuck on the never-ending rungs of the career ladder? Don’t worry, it happens to the best of us. But before you lose hope, remember that the ladder might not be as rigid as it seems. Here is the truth about career progression – it’s not a one-size-fits-all climb. For some, reaching the next rung means a promotion and a new title. For others, it’s about tackling bigger challenges or mastering new skills. The key lies in defining what “upward movement” means for you. Here are five tips to help you climb that career ladder with confidence. 1. Goal setting on the ladder Setting clear goals, big or small, is vital throughout your career journey. What do you want to achieve on the next rung of your ladder? Is it a specific promotion, a certain skill set, or a leadership role? Defining your goals helps you visualise the path ahead. 2. Celebrate every step up Acknowledge and celebrate your accomplishments! Taking a moment to reflect on how much you have learned and grown since you started climbing the ladder is incredibly motivating. You have climbed rungs already, and you can still climb many more. 3. Explore opportunities on your current rung Before aiming for the next step, assess your current position. Is there potential for taking on additional responsibilities? Training programs to boost your skillset and help you climb higher? Talk to your manager and see if there is room for internal growth. 4. Network up and down the ladder Your professional network is your career lifeline. Building strong connections with colleagues and mentors, both above and below you on the ladder, is crucial. These connections can offer guidance, open doors to new opportunities, and even become supporters on your climb. 5. Push yourself beyond the rungs Step outside your comfort zone and embrace challenges. Public speaking, attending networking events, or simply speaking up in a meeting – these experiences push you professionally and equip you for the next rung of the ladder. Remember, your career path is unique. Use these tips to define success on your terms and climb that perfect career ladder – the one that leads you to your specific goals. Kate Flanagan is a Tax, Treasury, and Practice Partner at Barden

New research highlighting the prevalence of burnout in the accountancy profession underscores the importance of understanding the symptoms and reaching out for help, writes Cristian Holmes Being a Chartered Accountant is a highly respected and rewarding career choice, and there are a great many people who are incredibly happy in their role.  However, for some, long working hours and tight deadlines can make for a high-pressure environment, which can sometimes lead to severe physical, emotional and behavioural symptoms we often associate with burnout. New research shows the concerning prevalence of chronic stress and other burnout-related symptoms within the profession. Findings of new research Based on a study of more than 300 Chartered Accountants from a range of accountancy bodies in the UK, our research has found that 74 percent have experienced some form of burnout in the last 12 months. Thirty-six percent reported suffering from insomnia or disrupted sleep, 32 percent had been diagnosed or self-identified with depression, and 29 percent had experienced regular panic attacks. Within their working lives, two in five said symptoms of burnout had impaired their ability to do their job or prompted them to take time off. Excessive workload was cited as the number one cause of burnout (46%), followed by work-life imbalance (45%), monotonous or unchallenging work (32%) and a lack of support from supervisors (31%). 10 signs of burnout   Burnout occurs when we feel overwhelmed emotionally and physically – so much so that it becomes almost impossible to function in our work or personal life or both.  Burnout affects people in different ways. Stress is often an early warning sign of burnout and one of the main symptoms, but here are a few other signs to look out for:  1. Brain fog  Because our brains are worrying about so much, it can impact our ability to think clearly. This can lead to you struggling to understand instructions from your manager and complete basic tasks.  2. Joint pain  Our brains interpret physical and emotional pain in the same place – the amygdala. This means that prolonged emotional pain can also lead to physical pain, ranging from sharp, shooting pains to constant aching and pulsing pains. 3. Tiredness  Feeling fatigued because your energy levels are low can result in you wanting to sleep longer because you’re trying to regain the energy you’ve lost from working so hard. What’s more, operating with less energy can also be more draining. 4. Poor motivation  When you’re burnt out, it can be a challenge to do the things you usually don’t mind doing. You may find you’re struggling to get out of bed in the morning, finding cooking a chore and avoiding team meetings and work outings.   5. Irritability   Low energy levels and the lack of sleep brought on by burnout can also result in people generally having less patience and getting aggravated by things that wouldn’t usually irritate them. 6. Detached outlook  Being pushed to the brink can lead to feeling detached from everything around you. It may be that things you used to enjoy no longer appeal to you, or, in more serious cases, you stop caring about yourself (e.g. personal hygiene) and those around you.  7. Digestive issues  Our digestive system can be heavily affected by our body’s fight-or-flight response. Issues such as diarrhoea, irritable bowel syndrome (IBS), nausea and indigestion are some of the ways stress can impact our digestive system. 8. Anxiety   A constant feeling of dread, and there being no apparent reason for that dread, can be a sign of burnout or generalised anxiety disorder. The disorder can be aggravated or caused by long-term stress and burnout.   9. Constant overdrive   You may find yourself worrying about work, even when you’re taking part in fun activities, such as family days out. When you can’t switch off, it’s not uncommon for you to constantly be worrying about what could happen, even when it might not. 10. Feeling overwhelmed   When you hit a certain point, you may find that you feel overwhelmed emotionally, even if there isn’t much going on. You may have a lighter workload than usual but are struggling to get through it because you have less energy and motivation than usual. Reach out for support We would urge anyone struggling with feelings of burnout to reach out – whether it be to a loved one, a friend or a member of their community.  You will find that no matter how low you are feeling, there is always someone there to support and guide you. You are never alone. Cristian Holmes is Chief Executive of the Chartered Accountants Benevolent Association, the occupational charity for members of the Institute of Chartered Accountants in England and Wales and their close families

With the EU Accessibility Act on the horizon, now is the time for organisations to step up and make sure their digital content is accessible before June 2025. Sacha Brinkley explains What is the European Accessibility Act? The European Accessibility Act is a directive to ensure certain products and services are accessible to persons with disabilities. It was transposed into Irish law in 2022 and will apply in Ireland from 28 June 2025. The sectors in scope of this act are commerce (including e-commerce), banking, telecoms, transport and technology. These are very broad and cover a range of companies. For most, e-commerce would probably fall under this legislation, meaning any websites that sell services will need to be accessible. Non-compliance and exemptions There are ramifications for non-compliance, which include: a fine (€5,000) or imprisonment of up to six months or both; a fine of up to €60,000 or imprisonment of up to 18 months or both; or litigation. However, there are some limited exemptions. If your product or service fundamentally changes due to this legislation, or if compliance would create an undue burden for your company, the organisation may be exempt. In both cases, it is essential to ensure you have the proper documentation for the relevant authorities, especially if it leads to litigation. Steps to accessibility With the deadline looming, making digital content and services accessible can be seen as an onerous, overwhelming task. However, there are some practical steps that you can initiate today to help you get ahead of the curve. Stay informed: Stay updated on the latest news concerning the directive and regulations, as this will guide the necessary steps for you or your clients to ensure accessibility. Accessibility audit: Consider conducting an accessibility audit of your online offerings. While this can be expensive and may not be feasible for everyone, it is worthwhile if you have the extra budget. If you are using a third-party service to host your website, such as Wix or SquareSpace, check what accessibility measures they have implemented. Accessibility statement: After your accessibility audit, write an accessibility statement on your website outlining what’s accessible currently, what isn’t accessible, and what you’re working on to make accessible. Invite your users to email you with any concerns or feedback. Being transparent and honest about your accessibility journey will not only demonstrate to users your dedication to inclusion but will also help your case if it comes to litigation. Accessible content: Going forward, make sure all your content is accessible, as well as your marketing. Easy wins The quick wins all involve your digital content. Some require a little more effort than others, but if you can follow these steps then you’ll be well on your way to compliance come June 2025. PDFs When creating PDFs, consider the following: Use accessibility tagging in your PDF so screen readers can navigate your content. This can be done in Word or PowerPoint before exporting to PDF. Write alternative text for every image unless decorative. Provide contact details for an accessible version of your document (for example, in a Word or Excel format) to show that you are being inclusive and compliant. Consider ditching PDFs entirely – could this document be a webpage instead? Images It is important to consider colour contrast. Proper attention to this detail can significantly enhance visual clarity and overall effectiveness in design. You can check colour contrast online. Use text sparingly and make sure your font size is big enough to be legible – at a minimum, the font should be 12pt. Social media and newsletters Always provide alternative text for your images. Write your hashtags in CamelCase. For example, #charteredaccountantsireland should be #CharteredAccountantsIreland. Not only is it easier to read, but you also avoid potentially embarrassing mistakes. Audio and visual When setting up online events, use headphones and a dedicated microphone rather than rely on laptop hardware. This reduces ambient noise and distractions for all users, as well as those with accessibility and sensory needs. Provide captions for your video and transcripts for your audio, as well as a descriptive voiceover when you just have music playing. You may need a sign language interpreter at events where someone deaf is present – check with the attendee first, however. Key takeaways With the rise of artificial intelligence technology and accessibility regulations, we’ll be seeing a digital revolution over the next five years when it comes to digital inclusion. By embedding the steps outlined above in your everyday practices, you’ll get a good head start on your digital inclusion journey. Sacha Brinkley is Content Editor at Chartered Accountants Ireland