Chartered Accountants Ireland reaches 51% market share on the island of Ireland as it admits 30,000th member

1 in 2 accountants in Republic and Northern Ireland now “Chartered” 
 
Institute fastest growing accountancy body across UK and Ireland over the last 15 years  

30 September 2021 – Chartered Accountants Ireland grew its market share on the island of Ireland to 50.7% in 2020, according to statistics recently published by the Irish Auditing and Accounting Supervisory Authority (IAASA) and the Consultative Committee of Accountancy Bodies (CCAB). 1 in 2 accountants on the island of Ireland is now Chartered, with the Institute’s share of membership in the Republic of Ireland increasing to 49% and in Northern Ireland standing at 62%.  
 
At the end of 2020, the Institute had 4,430 members in Northern Ireland, with just over 20,000 in the Republic. The remainder of the Institute’s membership is based in Great Britain and around the world.  
 
This growth in market share comes as Chartered Accountants Ireland admits its 30,000th member, a Dublin-based accountant. The all-island body was established in 1888 and according to Financial Reporting Council (FRC) data (encompassing all of UK and Ireland), it has been the fastest growing accountancy body across the UK and Ireland over the past 15 years. In 1996, the Institute’s membership stood at approximately 8,800, rising to almost 15,000 by 2006, and 22,000 by 2016.  
 
According to the FRC’s Key Facts and Trends in the Accountancy Profession report, published last month, Chartered Accountants Ireland recorded 16.5% growth in members between 2016-2020. This compares to an industry average in the UK and Ireland in member growth of 8.7%.  
 
Commenting, Chief Executive Barry Dempsey said 
“The continued growth of the Chartered qualification is encouraging. We have seen the critical role that Chartered Accountants have played across the island of Ireland over the last 18 months, as businesses navigated pandemic supports and additional regulatory requirements in addition to keeping their doors open. 
 
“It is a pleasure to welcome our 30,000th member, Richard Akpan, who recently qualified with us. Of all the accounting bodies, Chartered Accountants Ireland has the largest percentage of members under 34 years of age (28%) and Richard is just one of this new cohort of members who will shape the direction of the profession for years to come.”  
 
Richard Akpan, Senior Tax Associate at KPMG Ireland said 
“I feel a great sense of accomplishment to be admitted as the Institute’s 30,000th member.  It was satisfying to conclude years of hard work and study with such an esteemed  qualification, and I will be making use of the global nature of the qualification by relocating  to Edinburgh at the end of October. I look forward to applying the skills I have developed  throughout my training contract and studies in my new role as a Chartered Accountant.” 
 
Chartered Accountants Ireland’s growth in student numbers from 2016-2020 is also strong at 16%, second only to the Institute of Chartered Accountants in England and Wales (ICAEW) at 18%. This growth compares to an industry average in student growth of -2.2%. In the year to 2020, Chartered Accountants Ireland recorded the strongest student growth in the UK and Ireland, almost 5% year on year.   
 
Dempsey continued 
“Almost one in every two new accounting students in the State is now choosing the Chartered qualification, and we are particularly pleased to see such strong uptake in what we call the flexible route. An alternative to a training contract, it enables students to stay in their current job, study in a way that suits them and generate the relevant work experience now or further down the line. We introduced the flexible route in 2009 and today it accounts for 16% for students coming through.”  
 
ENDS