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 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.

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 of pension auto-enrolment? Becky Maye PwC Many young professionals may not view pension planning as a priority while they navigate other challenges. Many graduates will prioritise their professional exams, housing, and social or sporting commitments. As such, they may not even know of the existence of this scheme.  The new pension scheme operates as an opt-out, lessening the burden of those aged between 23 and 60 who earn over €20,000 but haven’t already enrolled in a pension scheme. It allows a foundation to be laid where an individual may later decide to enrol in a pension scheme while simultaneously allowing those who decide not to opt into a pension scheme access to a sum upon retirement that has accumulated over the years.  Investing in a pension scheme is essentially a tax-efficient investment into your future but it may be seen as an onerous task for many young professionals. The auto-enrolment scheme allows this view to be altered and provides a system where the burden is lifted.  Eoin Hartnett KPMG The auto-enrolment pension scheme is a semi-mandatory retirement savings system expected to be introduced in Ireland in January 2025. It’s a system whereby every €3 an employee contributes to their pension will be matched by their employers. In addition to this, the state will top it up with a further €1. What’s unique about this system is that it is an opt-out system rather than an opt-in one.  So, any employee between the ages of 23 and 60, not already on a pension scheme and earning over €20,000 per annum, is automatically enrolled.  Personally, as a 24-year-old six months into my graduate contract, I see this as a huge positive.  After 19 years in education, and only fresh out of college, there is a lot of change when you enter the working world that you have to deal with, and realistically, when you’re getting started, all your focus is on getting up to speed with the work and getting used to the working environment. Your pension is the last thing on your mind.  It would probably be another five or ten years before I would even think about it. Instead, now, in five or ten years, when I try to put a more comprehensive pension plan in place, I will already have accumulated a tidy lump sum upon which to build. I think that is the true benefit of this scheme, how, with minimum fuss, it helps set a foundation. A foundation that otherwise might not have been laid until years later. Conor Flynn EY Retirement planning is generally not a priority for young workers in their 20s and 30s. This is unsurprising given the other immediate challenges facing young people, such as access to housing, high rents, and the rising cost of living.   A CSO 2023 survey stated that only 32 percent of workers aged between 20 and 69 were signed up to a private pension. As a result, many workers would be solely dependent on their State pension (approximately €13,500 pa) upon retirement. This presents a major challenge for Ireland. An ageing population and rising life expectancy mean that a lack of corrective action, such as auto-enrolment, would result in a significant future burden on the Exchequer.   It is critical that we reshape our thinking around pension and retirement planning. Pension contributions can no longer be regarded as an unnecessary cost but rather a tax-efficient investment in our future!  

In every issue of The Bottom Line, we ask students for their thoughts on a particular topic. This month, we want to know: would you move abroad? Sean Landers  Associate KPMG I think it puts me in the minority, but moving abroad is not something I am yearning for now.  I appreciate the stability and routine I have at the moment in my training contract with KPMG and Chartered Accountants Ireland, as well as outside of work.  As a first-year associate, moving abroad wouldn’t make the most sense for me professionally, unless the opportunity was too good to turn down. It is quite probable that I will go abroad after my training contract is complete.  I’ve always had it in the back of my mind that I would love to work in the US for a period.  However, I think the best times for me to do this would be once I am fully qualified.  As for how long I would stay abroad, I really don’t know! While the experience would be great, I will always be drawn back home. Colm O’Keefe Associate PwC I would move abroad as I would love to see more of the world!  Travelling is one of the best experiences in life, and I would take any opportunity to try something new while I am young.  I would love to go to Australia to spend time with family there and to experience a different lifestyle.  I would also like to experience living in a different European country for a period and improve my language skills while enjoying a different culture. Shane Connolly  Associate Deloitte While travel is a very attractive idea to many, personally, I would choose to remain in Ireland. I fully believe in prioritising family time and having family involved in your life as much as possible.  I find the advice, guidance, and counsel that only family can give is very important, along with all the crucial memories to be made!  From a career perspective, I believe the opportunities available in the Irish market for accountants have never been greater, which should result in attractive positions becoming available as my career progresses.  Even locally in Cork, the opportunities available from practice to industry to academia are encouraging. As a University College Cork alumnus, one of my ambitions is to work in academia. Having started building my network from my internship days, I fully intend on leveraging this throughout my future career here in Ireland!

In every issue of The Bottom Line, we ask students for their thoughts on a particular topic. This month, we want to know: What are your New Year's resolutions? Sarah McAleese KPMG I am firmly of the belief that it is more realistic to stick to the habit of taking up and incorporating positive habits into your schedule as opposed to giving things up.  This year, my New Year’s resolution is to prioritise setting myself up for a successful day by embracing slower mornings.  On the days that I am working from home and do not have to commute, I have started and plan to continue making a habit of getting up earlier to get out for a walk before work in order to clear my head.  I also intend to listen to the news headlines while getting ready each morning in order to stay on top of current affairs.  Coffee is a crucial part of my morning routine, and given the cost-of-living crisis in 2024, I am now a self-proclaimed barista and have vowed to make more coffee at home. Kaillum Burns  Gilroy Gannon New Year's resolutions are always something I try to include in my transitions from one year to another. Setting resolutions can offer a rejuvenating beginning. They are an excellent way to initiate the upcoming year, a chance to press the 'restart' button, and enable you to establish fresh goals or revisit existing ones and decide on your approach to accomplishing them.  Achieving resolutions always brings positivity into my life.  It is a great thing when you commit to a goal and follow through. Resolutions ignite a similar feeling.  Regardless of the obstacles, proving to yourself that you can overcome anything is an unparalleled source of satisfaction.  In essence, humans thrive when pursuing goals, and what better method to recalibrate your objectives than through a set of New Year's resolutions? Conor Flynn EY As the calendar turns, a wave of contemplation can sweep over us, prompting New Year's resolutions.  These annual pledges are more than just a cultural tradition; they can serve as a compass, guiding us towards personal growth and positive change. By setting specific goals, resolutions can help us articulate our aspirations. They can turn abstract desires into actionable plans that guide our actions and decisions, thereby instilling a sense of purpose for the coming year. Personally, I have found that a New Year can provide a renewed sense of empowerment. That being said, we should remind ourselves that the New Year does not hold a monopoly on resolutions as we can engage in self-reflection at any point throughout the year.  It is an exercise we should strive to do regularly for our own well-being and personal development.

For Sinead Fox-Hamilton, Relationship & Professional Development Manager at Chartered Accountants Ireland, people are her passion, and she credits that passion to her Chartered Accountancy qualification Ten years ago, where did you think you would be now? Have you lived up to your own expectations? A decade ago, I was in a banking role and had already gained experience in practice and industry as a Chartered Accountant. I enjoyed the variety of work exposure but was still figuring out my journey.  The most fulfilling part of my roles was always working with people, so I went on to work in recruitment, which was centred on relationships and brought me closer to the world of career advancement, training, and lifelong learning. One thing that was always constant through my student training and career was being involved in the Chartered Accountants Ulster Society (various roles across several of the sub-committees) – I loved the people, supporting career development, organising events and taking an active role in the profession’s community. I often joked that I wished my time volunteering was my day job.  Fast forward to 2018, and a role became available at Chartered Accountants Ireland that literally ticked so many of the boxes – it was fate, and the rest, as they say, is history.  I am thrilled to now be working for my Institute showcasing the profession, curating learning solutions and engaging with the wonderful community we have! What has been the biggest challenge of your career? I found getting through the ACA exams to be extremely challenging. I completed a law degree, so I didn’t have a finance background. I am more of a literary person and storyteller naturally, so it was hard to engage my brain to think differently, but I was able to find crossovers and transferable skills.  While the study didn’t come easy to me, I knew it would be worth it, so I stuck at it. I’ll admit I had a few failures along the way and had to face some repeat papers, but I was determined to qualify. Thankfully, I got there in the end!  I will never forget my FAE results day – it was amazing. Qualifying is absolutely one of my proudest achievements! What do you wish you had known earlier in life? I wish I had known that you don’t have to have it all figured out immediately. Life and careers are journeys, and there are great opportunities to learn and grow along the way!  Framing any setbacks as lessons can really help with the fear of failure. Also, being realistic about what is achievable is important – I think we can often set our standards very high. Does perfection really exist?! Being the best version of yourself is enough.  In my younger years, I also naively would have thought ‘success’ was defined by job title, status or salary. I have grown to learn that purpose and job satisfaction are much more valuable to me.  I am energised and motivated by doing things I enjoy and that I feel add value – fulfilment and happiness come with this, and that is success for me now. Where do you see yourself this time next year? I would like to still be working for Chartered Accountants Ireland supporting the wonderful community and of course continuing to showcase the profession to the next gen. I feel really passionate about debunking the myths that exist, like it’s boring or it’s just number crunching and maths based or it’s not very accessible! All completely untrue – so I want to continue on my crusade to demystify the career and show the reality of Chartered Accountancy careers! Who inspires you, personally and professionally? Personally, I would say my dad. He has a real ‘can do’ attitude and drilled into me that there is no such thing as can’t – this positive problem-solving approach has taught me a lot. His confidence, drive and work ethic are something I’ve also always admired. Professionally, I’ve had the pleasure of working with many great leaders who inspire me, so it’s genuinely hard to narrow it down. The benefit of working in the profession is the opportunity to be exposed to some of the most talented business minds from whom I have had the privilege of learning so much. How has being a Chartered Accountant changed your life? Qualifying as a Chartered Accountant was a game-changer for me in so many ways.  I entered a career where there was an abundance of varied opportunities, which suited someone like me as I wasn’t quite sure what I wanted to be when I grew up (such a hard question to answer as a young person, I feel).  I was attracted to the idea of working in business, but I didn’t know what exact path to take. Being a Chartered Accountant opens so many doors, and you can work in any sector in both traditional finance and non-traditional roles.  I’ve enjoyed this luxury first-hand.  But the biggest win has been the relationships I’ve built. There is a real family feel to the profession and I have made lifelong friends, and I even met a husband along the way.  A lot of my socialising is done with fellow Chartered Accountants, and it’s lovely to have the opportunity to create such meaningful connections with like-minded people. It truly is such a special community to be part of! If you weren't a Chartered Accountant, what do you think you'd be doing?  I feel like I’ve found my fit in the role I do – it combines commercial and marketing aspects, but the beauty of being a Chartered Accountant is you can work right across the business.  I love the flexibility of the career. The skills you develop are transferable right across the market, and employers want to hire Chartered Accountants, so they are always in demand, which is brilliant for job security, stability, and reward.  Thinking completely aspirational and outside of the box, my younger self aspired to be an actress (but the pragmatic side of me didn’t think that was a realistic option) – I do scratch that itch by enjoying some amateur drama activity in my spare time, though. What advice do you have for those who will soon qualify as Chartered Accountants?  It’s such an exciting time – once you qualify, you truly grasp the full potential the profession can offer, whether it be in terms of career variety and reward or the fact you can travel the world because it is an internationally recognised business leadership credential.  Be curious and enjoy exploring the career variety. A top tip would also be to build a good network – it is invaluable to the opportunities that can come your way via connections. An easy way to do this is by getting involved in your local District Societies and attending events – I have benefited from amazing experiences and opportunities by being an active participant in the Ulster Society.  There are also so many services and supports available from the Institute – I would encourage newly qualified Chartered Accountants to engage with these and enjoy the full benefits of being a member.