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 2024? Ellen Roycroft EY There is no denying the cost-of-living crisis is one of the largest issues faced by the Irish populace and that one of the main downfalls of this is the rising price of electricity and fuel.  The electricity credits afforded to all households last year helped with this burden substantially. I believe that a further instalment of these credits could set a buffer for those struggling to get through what will already be an expensive winter ahead. In addition to this, I would hope to see an increase in the fuel credit for those living in fuel poverty. The credit, in my opinion, should be extended and the criteria for meeting it relaxed.  With an increasing number of people needing financial help to heat their homes, this would help, in my opinion, both with the affordability of fuel for those already receiving the benefit and for those who may be just on the verge of fuel poverty. Aleksandar Elliot KPMG My hope is that Budget 2024 will be about helping those who need it most through the challenging environment we’re faced with currently, as well as building a more sustainable long-term future. In the short term, the focus should be on the most vulnerable and shielding them from the impact of inflation. Increases in pensions and fuel allowance, as well as help with back-to-school costs through child benefit, should be the top priority.  We cannot forget small businesses that would benefit from the retention of lower VAT rates that are due to expire. Finally, a key component of the cost-of-living crisis is energy. I would like to see the government seize the opportunity to help people reduce their energy usage, which will, in turn, help reduce bills whilst benefitting the environment in the long term. Retrofitting schemes, green finance and electric vehicle grants would be central to such efforts. Sean Cahill EY One of the biggest struggles for students and young professionals is affording rent. From battling to find suitable accommodation to being able to afford it, the housing crisis, in my opinion, is the biggest issue Ireland has now. Last year’s €500 rent tax credit was a brilliant first step in the right direction by our government in addressing this. However, with no short-term solution to this crisis, I feel it's the government's duty to provide further assistance. Since last year, rent has increased exponentially across urban areas in Ireland. Boosting tax credits and reliefs and even looking at setting rent ceilings would not only ease  the burden on tenants but also have a spin-off effect on local economies.  In the 2024 budget, I would love to see the government implementing a strategy to further help tenants and also show a clear long-term plan on how they intend to bring rental rates back to affordability.

Shane O’Brien, the newly appointed Chief Executive Officer of the Parkinson’s Association of Ireland, shares insights into career challenges, his future with his new organisation, and how he was destined for the not-for-profit sector Five years ago, where did you think you would be now? Have you lived up to your own expectations?  After finishing my training contract and being admitted as a member of Chartered Accountants Ireland, I knew that I wanted varied work and to make a difference. The Chartered Accountancy qualification gave me the skills to think on my feet and to become a strategic business leader. The skills that you develop during the qualification are invaluable no matter what direction your career takes. What has been the biggest challenge of your career?  I think trainees starting off tend to overestimate the importance of technical skills and underestimate the importance of soft skills such as communication. Certainly, the latter has proved to be the difference in terms of career progression and achieving my goals. What do you wish you had known earlier in life?  Young people tend to put a lot of pressure on themselves academically, which I can look back on now and see wasn't necessary. The most important thing about your career is that you enjoy what you're doing and that it challenges you.  It's also important not to make decisions based on what others may think. Where do you see yourself this time next year?  I will be a year into my new role at the Parkinson’s Association of Ireland and hopefully have moved the organisation forward in achieving the aims set out in the strategic plan.  I'm a firm believer in ongoing development and that "when you're finished learning, you're finished!" Who inspires you, personally and professionally? My parents were a great inspiration to me growing up for the sacrifices that they made.  People with Parkinson’s Disease and their families inspire me in my role, and I know that if we put them at the centre of all our decisions, then we will be moving in the right direction.  How has being a Chartered Accountant changed your life?  It's a life-changing qualification, and the prestige associated with it sets you apart no matter what role you put yourself forward for. The exams are stressful, but I found it to be an enjoyable qualification overall. The most difficult thing is balancing work with study. If you weren't a Chartered Accountant, what do you think you'd be doing?  I think I would have found my way into the not-for-profit sector even if I hadn't been an accountant.  What advice do you have for those who will soon qualify as Chartered Accountants?  Don't put too much pressure on yourself. Make sure you keep a work-life balance in order to cope with stress and try to have some sort of hobby or interest outside of work.  The end is in sight!

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 thoughts on Irish neutrality? Karen Chandrakanth PwC Ireland’s policy of military neutrality has long been an important strand of Ireland’s independent foreign policy.  'Change' does not necessarily mean drastic; it can also mean to evolve – joining NATO is not the only option that confronts us.  We must also consider strengthening what we have and evolving our stance to further develop cyber, airspace and naval defences.  For every decision made regarding our neutrality and defences, there will be two sides to the argument. Whichever way we fall, our decisions must have an  impact for the better.  Change can happen in phases, but drastic or lack of change should not be an option. Sarah Byrne Browne RBK Chartered Accountants Ireland's neutrality has been questioned many times over the years, especially in recent times. I think we also need to question: has Ireland's neutrality been slowly eroded? For example, our governments have been encouraged to let America and other European countries use Shannon Airport as a stopover on their way to the Middle East. Our army also has peacekeepers in Africa. If this is a permanent arrangement, could our island be seen as a threat, and are we opening ourselves up to possible attacks from other countries with a grievance against the US or NATO?  Going forward, should Ireland have more safeguards in place? More and more nowadays countries are victims of cyber-attacks; how ready are we for these?  We remain neutral, so there wouldn’t be too much of a threat regarding the above but it begs the question of how we keep our neutrality whilst also trying to help others. Clodagh Murphy PwC Irish neutrality is a phrase which has been frequenting headlines in recent times.  Due to international events, most prominently the war in Ukraine, many have questioned  if Ireland’s neutral stance is still the best way forward.  This past June we watched with interest as a group of experts discussed this topic at the Consultative Forum on International Security.  A potential change to the current ‘triple lock’ process is an interesting development which has the potential to alter Ireland’s current peacekeeping abilities.  While discussions are still in the early stages, any policy change in this area has the potential to alter Ireland’s relationship with foreign powers. I will be following this story closely over the upcoming weeks and months!

Patrick McCarthy, Founder of Performance Labs, outlines what he wishes he had known earlier in life and his (lack of) advice for your future Five years ago, where did you think you would be now? Have you lived up to your own expectations? I’ve met my own expectations. Five years ago, I worked in a start-up trying to lend to SMEs in the Philippines. Now I operate a family business and have begun a four-year doctorate in performance psychology. What has been the biggest challenge of your career? I found my first year in KPMG quite challenging as well as the psychology involved in navigating the exams.  What do you wish you had known earlier in life? There are probably two things: You don’t need to figure it out on your own. Find someone a few years ahead of you and ask them what to do. It will save you so much time. There’s no secret formula. Anyone who seems like they have one probably got lucky. The median of successful people I’ve met or studied are consistent, deliberate and disciplined. Where do you see yourself this time next year? Year two of my doctorate, growing the family business, and hopefully working as a mental skills coach at the intercounty level – I’m currently working towards my sports psychology accreditation. Who inspires you? Professionally, three KPMG colleagues, Eamon Dillon, Naktita McCarthy and Breda Kinsella, all had a big influence on me equally. All three were so smart yet so hard-working. It was very easy to learn a lot from them. How has being a Chartered Accountant changed your life? There is no doubt that studying to be a Chartered Accountant changed my life for the better.  The people I met have challenged and inspired me to think differently. On top of that, I’ve learned skills through my exams and working in KPMG that have directly transferred to running a business and studying performance psychology.  If you weren’t a Chartered Accountant, what do you think you’d be doing? I’d be a sports psychologist! What advice do you have for those who will soon qualify as Chartered Accountants? Ignore all advice unless it’s from someone you admire and/or would swap places with. If you’re unsure about what to do after you qualify, ask yourself: “What industry/job would I work in if all salaries were equal?” and go from there.

In every issue of The Bottom Line, we ask students for their thoughts on a particular topic. This month, we want to know: Are you worried about the state and future of the Irish economy? Caelainn McGonigle Gilroy Gannon The Irish economy can continue to perform well if policymakers encourage homegrown entrepreneurship .  Ireland is a relatively small country with an educated workforce and a large university system; it should carve out some niche markets and try to have some real impact on technology and innovation. There are many interesting new business opportunities opening up, including those associated with artificial intelligence systems and green energy/green transport.  It is no longer good enough to let large multinationals, and the EU set the business agenda for Ireland. Ireland should rely more on domestic businesses as the key driver of growth and less on foreign direct investment.  There is plenty of untapped potential if Irish graduates are given the right opportunities to stay in the country. Just as in our parents’ generation, many young Irish adults have watched our friends move abroad to avail themselves of better opportunities.  The crisis in affordable housing has also contributed to this emigration trend. Even with a good starting job in Ireland, it is very difficult to find decent, quality affordable housing in our cities.  The Irish government needs to devote more focus to providing good career opportunities and affordable housing solutions to the new generation of workers.  Dónal Sweeney PwC While the impact of high inflation rates and the cost of living crisis remains a high area of concern for myself and my peers, I still remain optimistic about the future of the Irish economy.  I believe people are keen to get our economy back to where it once was. When our economy reopened after COVID-19, it bounced back with a strong level of activity – something I even noticed in my day-to-day life. The fall in business and consumer confidence has also been recorded and acknowledged, and I believe Ireland has the infrastructure and tools to address this in the medium term. I just hope that Ireland’s strong efforts to recover from the pandemic and improve our housing supply and healthcare do not offset efforts made to reach our ESG goal of achieving a climate-neutral economy.  Brendan Connor PwC Between the climate crisis, an unstable energy market, the COVID-19 pandemic, and especially the terrible war in Ukraine, it is certainly a worrying time for Europe.  Ireland has a particularly strong technology base through its position in three growth sectors: IT, pharma, and medical devices. This strong foundation provides a pipeline of opportunities which should help to moderate Ireland’s vulnerability to Europe-wide business cycle shocks over the next few years.  The big worry for me is the war in Ukraine, its aftermath and the possibility of armed conflict or civil unrest spreading to other Eastern and central European nations.  The rebuilding costs for Ukraine will also be enormous, and it will be up to its European partners, including Ireland, to share that burden.  

Peter Gillen, Sustainability Manager at Grant Thornton, didn’t know five years ago where he would be today, but he is incredibly happy he is here, and thinks his ACA qualification is to thank Five years ago, where did you think you would be now? Have you lived up to your own expectations? Truthfully, I don't think I had an idea where I'd be, but I knew that the ACA qualification can take you almost anywhere.  Case in point: since qualifying, I've lived in Boston, worked with some amazing clients, and now work in sustainability at Grant Thornton, so I'm delighted with how things have panned out so far. What has been the biggest challenge of your career? Probably pivoting into sustainability and advisory (having previously worked in IT audit), but it's also been the most rewarding and has pushed me in ways I didn't foresee and I'm all the better for it. What do you wish you had known earlier in life? Don't underestimate balance in all things, including health, work, and social. And if you take care of your body, it'll take care of you. Where do you see yourself this time next year? Hopefully still doing all the things I'm doing at the moment, except with another year's experience under my belt! Who inspires you, personally and professionally? My parents would be my biggest inspiration, both in terms of work ethic and, most importantly, their treatment of others. How has being a Chartered Accountant changed your life? It has opened doors that I know for a fact wouldn't have opened if not for my Chartered Accountant qualification, whether that be the opportunity to work in sustainability or be engaged with the Chartered Accountants Ireland community through my involvement in the Young Professionals Committee. If you weren’t a Chartered Accountant, what do you think you’d be doing? I'd probably be working in a scientific field as I enjoyed chemistry and physics in school. I like the methodical approach used to solve problems. What advice do you have for those who will soon qualify as Chartered Accountants? Don't underestimate the value of staying involved in the Chartered Accountants Ireland community, whether you attending an event or joining a committee (e.g. Young Professionals). I can guarantee you'll get back 10 times what you put in!