Interviews and Profiles

In every issue of The Bottom Line, we ask students for their thoughts on a particular topic. This month, we want to know: What do you think about the possible tariffs from the US? Patrycja Pisarczyk Grant Thornton Donald Trump’s tariffs, particularly on goods from China and the EU, risk destabilising global supply chains Irish companies rely on.  Businesses, especially Irish SMEs, will face significant pressure in formulating contingency plans to address potential outcomes due to the imposition of tariffs.  While this is disruptive to the economy we know today, I believe that where there is risk and uncertainty, there is also opportunity.  Such instability in the market will no doubt test the resilience and adaptability of Irish businesses, but there is potential for entering new markets and supply chains which have been disrupted by the US–China tensions, allowing firms to position themselves advantageously in this shifting landscape.  I anticipate increasing dependency on advisory and cross-border tax services. From a professional development perspective, I am excited to gain invaluable first-hand experience in the rapidly evolving economy. Varun Reddy Varala PWC In 2024, Irish goods exports hit a record €224 billion, with €72.6 billion flowing to the United States — much of it made up of pharmaceutical products.  With around 80 percent of these exports comprising medical and pharmaceutical goods, a 25 percent tariff would threaten investments, tax receipts and nearly 80,000 jobs. Ireland’s role in global supply chains raises the stakes even further.  For Instance, County Mayo is home to the world’s only facility that manufactures Botox, making it a vital player in international pharmaceutical production. It is particularly vulnerable if tariffs are widened to cover medical goods. Still, there are grounds for cautious optimism. Exports to the EU (€88.5 billion) continue to grow steadily, and Ireland’s strength in food, IT and services markets provides a valuable buffer.  While the risks are real, Ireland’s strong regulatory environment, export reputation and ability to adapt may help us weather the storm ahead. Egle Urbonaite EY The recent tariffs imposed by Donald Trump have caused some concern for people in Ireland.  In 2024, almost a third of Irish exports went to the US, which provides some perspective on how many businesses will be affected.  One of Ireland's most exported industries includes dairy products. As the US customer is paying these higher prices, sales of Irish-sourced products are expected to decline.  There is a considerable concern for US pharmaceutical companies located in Ireland, as most of them have significant dealings with the US. If they were to relocate due to decreasing profitability, this would massively impact local economies within Irish towns.  The tariffs currently imposed on Ireland aren’t significant, but the impact we may see further down the line is still of concern.   

Five years ago, Nitish Sachar, Assurance Associate at EY and a Chartered Accountants Ireland student, was in India drawing up his plan for the future. Now, in Ireland, he has a master’s degree in accountancy and is on his way to becoming a Chartered Accountant Five years ago, where did you think you would be now? Have you lived up to your own expectations?  Five years ago, I was fresh out of my graduation. I wanted to move far away from India and experience life. At the same time, though, I didn’t want to leave my career. This led me to dream about doing a master’s degree.  In the past five years, I have fulfilled some of my goals – getting a master’s and being financially independent but there is still more to achieve.  What has been the biggest challenge of your career? My biggest challenge has been getting back to studies after working for three years. This wasn’t an isolated challenge, as I was also facing hurdles moving countries and trying to establish my roots in a different city and culture. However, it was more difficult (and more fulfilling) than I had anticipated. What do you wish you had known earlier in life?  I wish I had known earlier the true value of networking and mentorship.  While technical skills and hard work are critical, building meaningful professional relationships and seeking guidance from experienced mentors can open opportunities and provide valuable insights.  Early in my career, I focused mainly on individual performance, but I have realised how collaboration, feedback and connections play a major role in long-term career development and personal growth. Where do you see yourself this time next year?  I hope with a salary increment — just kidding!  Hopefully, by this time next year, I will have completed more than half of my Chartered Accountancy exams and I will be well prepared for those that remain.  I also plan on having my driving license sorted by then.  Right now, my focus is on steady progress, both professionally and personally. Who inspires you, personally and professionally?  I am personally and professionally inspired by my brother.  We have shared a very similar path — attending the same universities and following almost the same career trajectory.  Throughout my journey, he has been a mentor, guide and constant source of encouragement. Watching his progress in overcoming professional challenges and building a strong career has given me a clear example to aspire to.  His work ethic, resilience and willingness to support others have had a lasting impact on me. If I can achieve even half of what he has accomplished in the next five years, I will consider it a great success.  His mentorship has taught me to stay patient, focused and committed to continuous learning, and it motivates me every day to push myself toward higher goals. How do you think being a Chartered Accountant will change the course of your career?  Becoming a Chartered Accountant will give me a globally recognised qualification that opens doors to opportunities across industries and geographies. It will offer greater career mobility and make it easier to work internationally, which is something I aspire to.  On a personal level, achieving the ACA designation would represent a significant milestone — a validation of years of learning, persistence and growth. Beyond the technical expertise, the training will deepen my understanding of how businesses operate strategically and financially, sharpening my ability to think like a business leader. In the long term, I believe this broader perspective will be invaluable as I work toward building and managing my own business in the future. If you weren't training to be a Chartered Accountant, what do you think you'd be doing?  If I weren’t training to be a Chartered Accountant, I would likely work in a people-focused industry.  I genuinely enjoy talking to people, understanding their work and learning about their experiences. Any career that allows me to engage with individuals and gain insight into different perspectives would have been a great fit.  Interestingly, this is also one of the aspects I appreciate about training as a Chartered Accountant — it offers opportunities to work closely with clients, understand their businesses and build meaningful professional relationships. What advice do you have for those considering training as a Chartered Accountants?  My advice would be to plan the journey a little in advance and be ready to balance work and study — it's definitely a juggling act, but a rewarding one.  Having some real-world experience can make the learning much more relatable. From my own experience, it’s never too late to study (trust me, late-night study sessions become a lifestyle!). Becoming a Chartered Accountant means committing to continuous learning, but the skills and confidence you gain along the way make every effort worth it.  

In every issue of The Bottom Line, we ask students for their thoughts on a particular topic. This month, we want to know: What change do you hope to see in Ireland in 2025? Colm O’Keeffe PwC  One change I would like to see in the next year is to the capital gains tax (CGT) regulation, which requires payment on unrealised gains for shares held for more than seven years, which is extremely onerous for Irish investors.  This rule forces early sales to avoid taxes, which deters long-term investment. Flexibility and sustained investment would result from matching CGT liability to actual realised gains. A change to this regulation would encourage market activity and promote economic expansion.  I hope legislators take these things into account and enact changes that strike a balance between the advantages of long-term investment and the need for tax money. Ireland's investment climate would be more vibrant and resilient if CGT regulations were more investor-friendly. Mark Healy EY  Ireland has the potential to be a beacon of inclusivity, especially in today’s challenging global landscape.  As we navigate issues like climate change, economic uncertainty and social inequality, we must foster a society that embraces diversity.  In 2025, I hope that we as a country place a large emphasis on promoting the voices of marginalised communities. We must encourage policies that support equal access to education, healthcare and employment ensuring that everyone has a fair chance to thrive. We need community initiatives that celebrate cultural differences and can foster understanding and solidarity among citizens. Moreover, we should engage in open dialogues about our shared values and collective future, recognising that our strength lies in our unity.  By embracing inclusivity over the coming years, Ireland can not only strive domestically but also serve as a model for other nations, demonstrating that a diverse society can lead to resilience in the face of adversity. Conor Flynn EY  In 2025, I hope to see Ireland harnessing the €14 billion received as part of the recent Apple tax ruling to significantly boost infrastructure investment.  This landmark ruling could provide a vital opportunity to enhance transportation, housing and water infrastructure across the country. With the strategic allocation of these funds, Ireland can improve roadways, public transit systems and aged water systems thereby fostering economic growth and regional development.  Additionally, investing in sustainable infrastructure would not only address current challenges but also prepare for future needs. By prioritising these enhancements, Ireland can create a more resilient and interconnected society, ensuring prosperity for all its citizens.

From overcoming exam setbacks to discovering unexpected career paths, the journey of Nuala McAdams, Manager of Government & Infrastructure at EY, highlights resilience, growth and the rewards of saying yes to new opportunities in the world of finance Five years ago, where did you think you would be now? Have you lived up to your own expectations? Five years ago, I had just attended my conferring ceremony and was about to move to a new department in my organisation. I have since made another move internally (three different departments in nine years).  I don’t think I had a five-year plan at that point if I’m honest. I had just qualified and didn’t know what I wanted to do next.  I think I have lived up to my own expectations in that I have tried new things and avenues in accountancy that I hadn’t heard of. I am so glad I did, as it has taught me new skills and given me new opportunities to develop. What has been the biggest challenge of your career? The biggest professional challenge was definitely failing three out of four of my CAP 2 exams – it was a terrible day!  It was so frustrating and devastating, especially as I knew it was totally on me. I hadn’t attended class as much as I should have, and it showed. For me, it was 100% my approach to the exam. The videos on charteredaccountants.ie on exam prep became really important to me when I moved to FAE. Fortunately, that went a lot smoother. Thankfully, I was able to wallow for a few days then pick myself up, work out where I went wrong, put the work in and pass second time around.  What do you wish you had known earlier in life? I wish I had known that it doesn’t matter where you are or what you are doing, you can always change your path. I started accountancy with no background in it, couldn’t tell you what a debit/credit was but I’ve never looked back. Where do you see yourself this time next year? I see myself being a lot more organised and making time for things that I love, like my voluntary roles, and hopefully doing some teaching in accounting!  Who inspires you, personally and professionally? My mammy’s motto in life is: “Sure what odds?” (In other words, ‘no big deal’.)  I would love to be so relaxed about things and I do think it’s really important to have that kind of perspective. It’s important to remember that no mistake is that bad –  and we all make them!  How has being a Chartered Accountant changed your life? I honestly don’t think I would have had as many amazing opportunities if I hadn’t followed this career path.  I have met so many new people, built my confidence, travelled a lot, and gained a host of new skills which translate to a lot of different organisations and roles.  Also, during your grad induction, you are always told that you’ll make friends for life. I didn’t believe it but it is true. If you weren't a Chartered Accountant, what do you think you'd be doing? I’d love to host a radio show…or be President of Ireland – both are essentially just talking to people all day, right? What advice do you have for those who will soon qualify as Chartered Accountants? Say yes to things, especially events – you never know who you’ll meet – and make time for the things you love or are interested in!

In every issue of The Bottom Line, we ask students for their thoughts on a particular topic. This month, we want to know: What do you hope to see in Budget 2025? Daragh Connolly  Gilroy Gannon I would like to see the VAT rate reduced for the hospitality sector from 13.5 percent to nine percent.  The expiration of the temporary nine percent VAT rate in September last year, which has coincided with high inflation rates, has forced businesses to increase prices considerably which, in turn, has priced many customers out of the market.  According to the Restaurant Association of Ireland (RAI), 577 restaurants across the country closed their doors between September 2023 and July 2024. The reduction in the VAT rate should help alleviate some of the pressure that many restaurants in Ireland are facing, as well as broadening the industry’s customer base.  Furthermore, the current cost of eating out is not attractive to tourists visiting Ireland and may be having a negative impact on Ireland's tourism sector as a whole.  James Smyth  KPMG The cost-of-living crisis continues to be a key issue across the country. With housing prices and rental demand at record highs, it’s crucial the budget addresses these issues sustainably.  One measure I would like to see is the reduction of VAT on construction materials to boost housing supply nationwide.  Additionally, I would like to see an increased drive for investment in cross-border and cross-country infrastructure to support those commuting from rural areas and the North, creating cost-effective and sustainable travel. As inflation begins to slow, it’s essential for the budget to include forward-looking and sustainable measures to safeguard against future challenges, like retaining reduced rates of VAT for retail and other businesses in order to bolster the SME market. This approach will address immediate concerns and ensure long-term stability and growth.  The budget’s focus on these areas could provide much-needed relief and hope for a more secure future. Collette O’Shea  Mazars Last year, the Government announced the establishment of a Tax Administration Liaison Committee subgroup dedicated to identifying opportunities to simplify and modernise the administration of business supports. I want to see the impact of this tax simplification in Budget 2025.  Tax legislation with convoluted rules and requirements hinder businesses ability to stay tax compliant or avail of tax reliefs. All businesses in Ireland, especially our domestic SMEs, should know exactly what reliefs they are entitled to claim and  how they can claim them.  Furthermore, it needs to be unambiguous what taxes businesses have to pay and  when to pay them. Simplification of tax legislation would lead to increased compliance and better tax revenue collection as businesses would be better placed to understand their tax reporting and payment obligations. Removing the needless complexities and ambiguities in Irish tax legislation would reduce the level of incorrect claims and errors that arise from complicated tax legislation.

Evan O'Donnell, Chartered Star 2024, shares insights on overcoming challenges, the importance of learning from mistakes, and his aspirations for continued growth Five years ago, where did you think you would be now? Have you lived up to your own expectations? Five years ago, I had just commenced my final year at university. I had envisioned myself in a stable and fulfilling career, one where I could use my skills and knowledge to make a meaningful impact. I imagined that, by now, I would have passed all my exams, gained significant experience and provided clients with quality deliverables.  Looking back, I can safely say that I have lived up to those expectations and surpassed them! I have become qualified as a Chartered Accountant having gained an invaluable training contract on the Assurance Team at PwC Ireland. I have secured an exciting role within Finance in Avery Dennison and I am the current Chartered Star, which I am absolutely delighted with!  I am looking forward to representing both my profession and country on at international level in Canada later this month. What has been the biggest challenge of your career? The biggest challenge of my career as a Chartered Accountant has been balancing the rigorous demands of professional exams with the tight deadlines of audit engagements.  Juggling intense study schedules alongside assurance client work required a level of time management and project planning. This challenge forced me to improve these skills significantly.  I became more disciplined with my time, better at prioritising tasks, and more adaptable to changing circumstances. What do you wish you had known earlier in life? One thing I wish I had learned earlier in life is that making mistakes, both in life and at work, is not only okay but essential for growth.  I used to fear failure, believing it was a sign of weakness or incompetence. However, I’ve come to understand that mistakes are invaluable learning opportunities. Each failure is like practice for success, teaching resilience, adaptability and problem-solving.  Embracing mistakes allows you to grow stronger, refine your skills and approach challenges with a more informed perspective.  Success isn’t about avoiding failure; it’s about learning from it and continuing to move forward. Where do you see yourself this time next year? This time next year, I see myself continuing to grow in my current role with Avery Dennison, taking on more leadership responsibilities and perhaps exploring new areas within the finance sector.  I am eager to further develop my expertise in areas like financial strategy and risk management, and I hope to contribute even more to the success of my firm.  Additionally, I am considering opportunities to mentor younger professionals, as I believe that sharing knowledge and experience is vital to the profession's future. Who inspires you, personally and professionally? Personally and professionally, I am inspired by people who demonstrate resilience, integrity and are always willing to share their knowledge.  Personally, I look up to my father. My dad has not only achieved so much in his career but his morals, love for his family and his incredible ability to put everyone else’s needs above his own has made him my role model my entire life!  Professionally, I look up to Barry Doyle, Chartered Accountants Ireland President. Barry is the youngest-ever President of the Institute. Barry’s humbleness in his accomplishments is admirable, his grit and determination are truly inspirational. He is also a marathon runner – his talents know no bounds! How has being a Chartered Accountant changed your life? Becoming a Chartered Accountant has significantly changed my life. The versatility of this career has opened doors to opportunities I wouldn’t have had otherwise, provided me with a sense of huge accomplishment and given me a solid foundation on which to build my career.  Being a Chartered Accountant also brings a level of respect and credibility in our industry, which has been invaluable in establishing trust with clients and colleagues.  If you weren't a Chartered Accountant, what do you think you'd be doing? If I wasn’t a Chartered Accountant, I believe I would be working in a field related to education or mentoring.  Coming from a family of teachers (in both primary and secondary school) and always having a passion for helping others learn and grow, I think I would find great satisfaction in a role that allows me to teach, guide or influence young people in their life and on their professional journeys. What advice do you have for those who will soon qualify as Chartered Accountants? Keep your head down with exams, plough through them and persevere. You will forget the gruelling hours of study put in, but you won’t forget your qualification – it will all be worth it once you become an ACA!  Don’t be afraid to ask questions – it is the only way to learn.  Build your network and don’t underestimate the value of soft skills such as communication and leadership – they are just as important as technical knowledge.