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.

Earlier this year the FRC published an update to its Ethical Standard for auditors, effective from 15 December 2024. The updated ethical standard simplifies the existing ethical standard and provided additional clarity in a limited number of areas. the new standard takes into account recent revisions made to the international IESBA Code of Ethics. there is a new targeted restriction on fees from entities related by a single controlling party. Following feedback to their consultation, the FRC have amended the proposals to ensure that the requirements in the standard are better targeted and proportionate. For example, additional requirements in respect of ethical breach reporting by audit firms to the regulator have been removed. With regard to tax services provided to the controlling shareholders of unlisted companies the FRC is enhancing the independence risk assessment around these services rather than specifically prohibiting them. Alongside the revised Ethical Standard, the FRC has also released guidance for auditors on the application of the Objective, Reasonable and Informed Third Party test, which forms a key part of many requirements in the Ethical Standard. Read the updated Ethical Standard. Read the feedback statement and impact statement. CAI responded to the FRC consultation and you can read our response here.  

Welcome to the latest edition of Technical Roundup which is published on the first and third Friday of every month. In developments since the last edition, Chartered Accountants Ireland has issued its response to the International Accounting Standards Board’s (IASB) Exposure Draft ‘Climate-related risks and Other Uncertainties in the Financial Statements’.  The Pensions Authority has published a dedicated website page for information on the Digital Operational Resilience Act (DORA). Read more on these and other developments that may be of interest to members below. Audit and Assurance IAASA has published Inspection Insight Series 5: International Standard on Quality Management Ireland 1 (ISQM 1). This paper sets out the key requirements for audit firms relating to ISQM1, IAASA’s findings from their quality assurance reviews and areas of good practice noted by IAASA.  The Financial Reporting Council (FRC) has published its annual report on the quality of major local audits, which also sets out how it will continue to support the local audit system to recover from delays in the publication of audited accounts. The FRC has published its annual Audit Market and Competition Update for 2024. The report shows that in the UK the Big Four audit firms continue to dominate the market earning 98% of FTSE 350 audit fees and 90% of all PIE audit fees. However, challenger audit firms’ share of FT350 audit engagements grew to 13% in 2023. The FRC is evolving its approach to audit market competition, addressing stakeholder concerns such as differences in quality between the largest and smaller audit firms. You can access the report on this link. Earlier this year the FRC published an update to its Ethical Standard for auditors, effective from 15 December 2024. The updated ethical standard simplifies the existing ethical standard and provided additional clarity in a limited number of areas. the new standard takes into account recent revisions made to the international IESBA Code of Ethics. there is a new targeted restriction on fees from entities related by a single controlling party Read more and access the revised standard here. Financial Reporting Chartered Accountants Ireland has issued its response to the International Accounting Standards Board’s (IASB) Exposure Draft “Climate-related risks and Other Uncertainties in the Financial Statements”. The Exposure Draft, which proposes eight examples illustrating how entities may apply the requirements in IFRS Accounting Standards to report the effects of climate-related and other uncertainties in its financial statements, was issued by the IASB in July 2024. The UK Endorsement Board has also published its Final Comment Letter and Feedback Statement in response to the same Exposure Draft. EFRAG, the European Financial Reporting Advisory Group has published its October 2024 update which summarises public technical discussions and decisions taken during the month. The Financial Reporting Council (FRC) has updated their suite of factsheets addressing FRS 102. For more information on this please see our news item here. The FRC has published its Annual Review of Corporate Governance Reporting. EFRAG has published its Final Comment Letter on the IASB's Exposure Draft Translation to a Hyperinflationary Presentation Currency - Proposed amendments to IAS 21. EFRAG has published its Final Comment Letter on the IASB's Exposure Draft Amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures. The UK Endorsement Board has also published its response to this Exposure Draft. EFRAG’s discussion paper “The Statement of Cashflows objectives, usages and issues” has been published, with the objective of listing the perceived issues with cash flow statements presented in accordance with IAS 7. Comments are requested by EFRAG by 15 May 2025. The International Accounting Standards Board has published its November 2024 update and podcast. Insolvency The CCAB-I Insolvency Committee has recently published Technical Alert 03/2024 Succession Planning for Insolvency Practitioners. Insolvency appointments are taken in a personal capacity by an Insolvency Practitioner, who has an obligation to ensure that cases are properly managed at all times, and to have appropriate contingency arrangements in place to cover a change in the Insolvency Practitioner’s circumstances. This Technical Alert maps out a succession plan for an Insolvency Practitioner and covers some of the high-level considerations and discussion points to be considered by Insolvency Practitioners. Sustainability The European Commission has published a set of frequently asked questions (FAQs) to support stakeholders in the implementation of the EU taxonomy, a classification system for sustainable economic activities. The FAQs provide technical clarifications regarding various elements of the EU taxonomy. Examples of matters included are the application of general taxonomy requirements and technical screening criteria for specific activities included in the Taxonomy Climate and Environmental Delegated Acts and they also address the generic ‘do no significant harm’ (DNSH) criteria that ensure that economic activities contributing to one of the environmental objectives set out in the Taxonomy Regulation do not cause significant harm to any of the other environmental objectives. The 2024 edition of KPMG’s Survey of Sustainability Reporting, which surveyed 5,800 large companies across 58 countries showed that GRI usage has risen to 71%. The survey also identified an increasing prevalence of companies obtaining independent assurance on their sustainability reporting as well as an increase in the number of companies carrying out double materiality assessments, both of which are practices that will soon become mandatory for certain companies in the European Union. A recording of EFRAG’s recent webinar “ESRS for Non-EU Groups” is available to view via the EFRAG website. The IFRS Foundation has published some educational material entitled “Sustainability-related risks and opportunities and the disclosure of material information”. The publication is focussed on helping companies understand how the concept of sustainability-related risks and opportunities is described in IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information, including how these can arise from a company’s dependencies and impacts. The International Sustainability Standards Board (ISSB) has published its November 2024 update and podcast. As many jurisdictions worldwide make decisions locally regarding whether (or how) they adopt ISSB reporting standards, the IFRS Foundation continues to compile a list of the ongoing and completed Jurisdictional sustainability consultations. This is a useful reference point for anyone trying to establish the reporting requirements of various countries worldwide. The IFRS Foundation has published a recording of its fifth Perspectives on sustainability disclosure webinar which is titled 'The state of assurance for sustainability disclosures'. Accountancy Europe has published its November 2024 Sustainability Update. Digital, Cyber, Artificial Intelligence (AI), Crypto The Pensions Authority has published a dedicated website page for information on the Digital Operational Resilience Act (DORA). Central Bank of Ireland (CBI) Governor of the Central Bank of Ireland Gabriel Makhlouf was invited to speak at a Financial Services Ireland event on 20 November to talk about The Role of Financial Services in the Irish Economy. Legislation You can read our recent news item on the signing and part commencement of the Companies (Corporate Governance, Enforcement and Regulatory Provisions) Act, 2024. We have selected those provisions which we think will be of most interest to our members and have identified what has been commenced on 3 December 2024 and what awaits commencement in 2025. Click to go to the CEA website where you can read about the key changes introduced by this Act which concern the Corporate Enforcement Authority . Other Please click to read the latest from the Corporate Enforcement Authority December newsletter and click here if you want to subscribe to the CEA newsletter. The Financial Reporting Council (FRC) has published its Annual Review of Corporate Governance Reporting 2024, providing important insights as companies prepare to implement the revised UK Corporate Governance Code from January 2025. The Pensions Authority has published information on the Annual Compliance Statement (ACS) for 2024 that is provided for under the Pensions Act.  The form to be used for the ACS is available under Related File(s) on their website with a deadline for completion of 31 January 2025. Accountancy Europe has issued its December 2024 SME update.     This information is provided as resources and information only and nothing in the information purports to provide professional advice or definitive legal interpretation(s) or opinion(s) on the applicable legislation or legal or other matters referred to in the information. If the reader is in doubt on any matter in this complex area further legal or other advice must be obtained. While every reasonable care has been taken by the Institute in the preparation of the information we do not guarantee the accuracy or veracity of any resource, guidance, information or opinion, or the appropriateness, suitability or applicability of any practice or procedure contained therein. The Institute is not responsible for any errors or omissions or for the results obtained from the use of the resources or information contained herein.

from the Institute’s Professional Accounting team on the signing and part commencement of the Companies (Corporate Governance, Enforcement and Regulatory Provisions) Act, 2024 (2024 Act ) Introduction The 2024 Act was signed into law on 12 November 2024. It makes changes to the Companies Act, 2014 (CA 2014). On behalf of its members, the Institute responded in 2023 to a Department of Enterprise, Trade and Employment (DETE ) consultation on proposals to enhance the Companies Act 2014 which informed much of the provisions of the 2024 Act. Below we set out some of the new provisions which may be of interest to our members. Readers might note that there are other new provisions in the 2024 Act which are not outlined here. The Companies (Corporate Governance, Enforcement and Regulatory Provisions) Act 2024 (Commencement) Order 2024 (SI 639/2024) commenced certain of the provisions from 3 December 2024. A DETE December 2024 press release clarifies that the provisions not commencing on 3 December 2024 are those that require technical updates to be made to the Companies Registration Office (CRO)’s  computer systems to facilitate the changes proposed. These provisions relate to CRO prescribed forms and the removal of the automatic loss of audit exemption for small companies on a first occasion of failure to file an annual return.  DETE intends to commence these provisions in 2025. Audit exemption (not yet commenced) Once commenced, one of the most significant changes for our members is to the rules regarding loss of audit exemption. This provision will replace the automatic loss of the audit exemption for a first late filing with the CRO with a graduated regime where a company may file late once in a five-year period without the loss of audit exemption. The Institute is particularly delighted to see this provision as it is an area on which we have made numerous representations to the CRO and the DETE on behalf of members over the last number of years. Readers should note that the change does not extend to small group situations, and while there are some exemptions it is still generally the case that if one member of a small group fails to file its annual return on time, none of the small group companies is entitled to the audit exemption for the following two financial years. Registered office agent /electronic filing agent (not yet commenced) There will be changes in relation to a company’s registered office agent and electronic filing agents. These include the application to the Registrar of Companies (“Registrar “) in the prescribed form for approval to act as an electronic filing agent (EFA) and a registered office agent. Prior to the 2024 Act, application was made to the Registrar using an administrative form. Trust and Company Service Providers (TCSPs) will only be approved as a registered office agent or an EFA where they have a TCSP authorisation under the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010. Approval to act as an EFA or registered office agent will be withdrawn where a company ceases to hold a TCSP authorisation.  Evidence of situation of registered office (commenced) The 2024 Act includes a new section to provide that the Registrar may require evidence to verify a company’s registered office address when a company is applying to register its constitution or submitting a change of registered office address. Where the Registrar has made such a request, the Registrar will not register the documents unless such evidence is provided. Receivers (not all provisions commenced) The 2024 Act makes some changes in relation to receivers. Extension of the existing power of the court to fix remuneration of a receiver has been commenced. Matters to be considered for receivers under these new provisions include time spent, complexity of the case, exceptional responsibility on receiver, effectiveness of receiver, value, and nature of the property. This mirrors existing provisions for remuneration for liquidators in the CA 2014. Provisions have also been commenced concerning entitlement to remuneration of receivers by way of a relevant percentage, by reference to time spent or otherwise by reference to any method or thing. These new provisions are in line with existing provisions in the CA 2014 concerning entitlement of liquidators to remuneration.  Further information will be required on Form E8 which is filed upon the receiver’s appointment. The further information includes details of nature of assets, date and nature of appointment, information regarding future trading where practicable, and other prescribed information (not yet commenced). Members, creditors, and prescribed persons can request information regarding receivers’ terms and fees, and requests must be dealt with within 7 days. (not yet commenced). Also, the time limits for filing the receiver’s abstract (Form E9) upon cessation of acting as receiver and notice of cessation of receiver (Form E11) will now be 7 days. (not yet commenced). SCARP (not all provisions commenced) The technical changes to SCARP legislation have largely been commenced from 3 Dec. The ones which have not yet been commenced mainly relate to provisions for notices in ” prescribed form “. The SCARP provision has been commenced whereby the court can ask the process advisor (PA) for a written report stating the reasons for not doing so where the PA did not make use of the services of the staff and facilities of the company to which they were appointed where the court is considering any matter relating to the PA’s costs, expenses, and remuneration. Strike off and restoration (commenced) Provisions for 3 new grounds for strike off have been commenced (sections 58-64) (failure to notify of a change in registered office, no current company secretary recorded and failure to deliver beneficial ownership information). Readers may be interested to note that these three new grounds will not give rise to disqualification of the directors and the new provisions include the steps to be taken to avert continuation of the strike off under the three new grounds. IAASA (commenced) Provisions have been commenced giving IAASA power to issue an interim direction imposing restrictions on a statutory auditor that a possible relevant contravention has been committed and that it is appropriate in the public interest to do so. IAASA will invite and consider submissions received from the restricted person and will within 21 days either confirm vary or revoke the interim notice. The restrictions remain in place until the investigation is complete. An interim notice will be reviewed every 6 months or a shorter period and automatically expires after 18 months unless a further interim notice is issued. Corporate Enforcement Authority (CEA) - Enhanced powers (commenced) The following provisions have been commenced: - -Under the 2014 Act, auditors must notify the CEA when they form the opinion that certain offences have been committed. New provisions oblige the auditors, if requested by the CEA, to furnish the CEA with copies of documents and to certify them as true copies or extracts; -Provisions allowing for the CEA to share otherwise confidential information with additional statutory bodies such as the Data Protection Commission and the Charities Regulatory Authority; -Provisions whereby it is a category 2 offence for a person to obstruct or interfere with an officer of the CEA . For a category 2 offence , on summary conviction, punishment is a class A fine which is a fine not exceeding €5,000 or imprisonment for a term not exceeding 12 months or both, or on conviction on indictment, to a fine not exceeding €50,000 or imprisonment for a term not exceeding 5 years or both; -Greater information gathering powers (including access to certain court orders and mandatory notification requirement in certain instances). Electronic meetings (commenced) Electronic participation in general meetings has been put on a permanent statutory footing and there are now provisions for notices, quorum and proceedings and virtual voting at such meetings. Readers may recall that in December 2023 these provisions which were introduced during the pandemic were temporarily extended to 31 December 2024. Note that the new provisions do not apply to creditors meetings or meetings to consider schemes of arrangements. This information is provided as resources and information only and nothing in these pages purports to provide professional advice or definitive legal interpretation(s) or opinion(s) on the applicable legislation or legal or other matters referred to in the pages. If the reader is in doubt on any matter in this complex area further legal or other advice must be obtained. While every reasonable care has been taken by the Institute in the preparation of these pages, we do not guarantee the accuracy or veracity of any resource, guidance, information or opinion, or the appropriateness, suitability or applicability of any practice or procedure contained therein. The Institute is not responsible for any errors or omissions or for the results obtained from the use of the resources or information contained in these pages

UK  Recent communications with Insolvency Practitioners (IPs) authorised to take insolvency appointments in the UK have been advised of Council’s decision to revoke its status as a Recognised Professional Body (RPB) in the UK. This means that Chartered Accountants Ireland will not be authorising insolvency practitioners in the UK from 1st January 2025. The Professional Standards department has been communicating with these IPs to assist in the application process and to ensure a smooth transfer to an alternative RPB.   Ireland   In addition to UK insolvency regulation, Council has also decided to cease the proactive monitoring of members providing insolvency services in Ireland. Members will no longer be required to hold an Insolvency Practising Certificate (IPC) to take insolvency appointments in Ireland. To reflect the above policy change regarding IPCs, appropriate amendments have been made to the Institute’s Public Practice Regulations. Insolvency services will be included within the general definition of ‘accountancy services’ (therefore requiring the holding of a general ‘Practising Certificate’). This means that the Institute may review insolvency-related work of individual members at its discretion. These changes remain consistent with the provisions of section 633 of the Companies Act, 2014 which requires liquidators to hold a current practising certificate issued by a Prescribed Accountancy Body or specified other bodies. It is also consistent with the approach to insolvency regulation applied by other Prescribed Accountancy Bodies.

The Institute has issued its response to the International Accounting Standards Board’s (IASB) Exposure Draft “Climate-related risks and Other Uncertainties in the Financial Statements”. The Exposure Draft, which proposes eight examples illustrating how entities may apply the requirements in IFRS Accounting Standards to report the effects of climate-related and other uncertainties in its financial statements, was issued by the IASB in July 2024. While highlighting its support of the overall objectives of the IASB, as well as the usefulness of illustrative examples in helping entities report on areas of uncertainty, the Institute’s Financial Reporting Technical Committee noted some concerns in relation to the way in which some of the examples are drafted. In addition to this, the Institute called for more guidance and analysis relating to determining the level of adjustment required to terminal value and discount rates in relation to medium to long term impacts of climate risk. The Institute’s response can be read in full here. 

The Financial Reporting Council (FRC) has updated their suite of factsheets addressing FRS 102. These factsheets provide additional guidance to assist with the application of FRS 102 and include three new factsheets. Of particular interest to preparers and other stakeholders will be the new factsheets published which address the new accounting requirements for revenue recognition and lease accounting (effective for periods commencing on or after 1 January 2026). In addition to the new factsheets, five factsheets have been updated and two factsheets (which related specifically to the 2017 Triennial Review) have been withdrawn. Following the additions, updates and withdrawals, there are now eight staff factsheets in issue which are available on the FRC website; Factsheet 3 – Statement of cash flows Factsheet 4 – Financial instruments Factsheet 5 – Property: Fair value measurement Factsheet 6 – Business combinations Factsheet 7 – Transition to FRS 102 Factsheet 8 - Climate-related matters Factsheet 9 – Initial application of the Periodic Review 2024 amendments Factsheet 10 – Revenue from Contracts with Customers Factsheet 11 – Lease accounting for lessees

Agents now have until 6 December 2024 to send HMRC details of their agent codes. In October HMRC emailed agents asking them to provide details of their agent codes by 8 November 2024 via an online form. Last week HMRC emailed a reminder to agents to submit this information which also advised that the deadline is now 6 December 2024.   The email contains details of how to find your agent code and how to complete the form. HMRC  advises that if an agent has already completed and submitted their information to ignore this reminder.   

HMRC is hosting a Making Tax Digital (MTD) for income tax event at their Croydon Regional Centre office later this week on Thursday 5 December 2024. Read on for more details. Note that events are being planned across the UK with one to be held in Belfast in Spring 2025. Event details: Location: HMRC, 1 Ruskin Square, Croydon, CR0 2WF.  Time: 11am start – 3pm finish.  The event is for agents and software developers who have clients who will need to use MTD for Income Tax, to help you get ready for when it becomes a legal requirement from April 2026. At the event you will: Find out more about the testing phase, including the extra support on offer, Have access to hands-on support to sign up to testing, and Be able to ask HMRC your MTD questions. This event has limited spaces so if you are interested and want to attend please email mailboxmakingtaxdigital@hmrc.gov.uk to secure a space. By emailing HMRC, you are agreeing to be contacted by HMRC before, during and after this event.   

In this week’s miscellaneous updates, HMRC has published updated guidance on the abolition of the furnished holiday lettings (FHLs) rules. The latest Agent Update is available as is the most recent News and Information Bulletin both of which contain important guidance on filing 2023/24 self-assessment returns where overlap relief is being deducted as part of the transition year to the tax year basis. The latest schedule of HMRC Talking Points live and recorded webinars for tax agents are available for booking. Spaces are limited, so take a look now and save your place. The most recent minutes/notes from HMRC’s Guidance Strategy Forum are also available. And finally, check HMRC’s online services availability page for details of planned downtime and the online services affected.   Updated FHL guidance  HMRC has published updated guidance on the tax rules for the abolition of FHLs. The purpose of the updated guidance is to make clear that the intention is to remove the specific tax reliefs currently available for FHLs, hence there will not be changes to other rules. For example, holiday accommodation, whether previously qualifying as a FHL or not, will remain standard-rated for VAT.  Latest Agent Update  Agent Update: issue 125 is now available. Get the latest guidance and information including: reporting rules for digital platforms with the first reports due 31‌‌‌ January‌‌‌ 2025, completing self-assessment tax returns for student and postgraduate loan borrowers, self-assessment top tips for agents including guidance on basis period reform and a request to submit overlap relief applications early and preferably by 31 December 2024, using the payrolling benefits in kind service for agents, and  an update on the new requirements for safety and security declarations.

In this week’s post EU exit corner, we bring you the latest guidance updates and publications relevant in the post EU exit environment. The most recent Trader Support Service bulletin is also available as is the latest Brexit and Beyond newsletter from the Northern Ireland Assembly EU Affairs team. Minutes from the latest Northern Ireland Joint Customs Consultative Committee, which the Institute participates in, have been published together with the slide deck used. These provide useful information on the forthcoming changes to the movement of consumer and freight parcels from Great Britain to Northern Ireland from 31 March 2025. It has also been confirmed that the Government’s single trade window has been paused and HMRC has recently published a range of guidance and communications particularly relevant to customs transactions in Northern Ireland.  Single trade window paused  The single trade window (STW) will be a UK Government service with the objective of providing a gateway between businesses and UK border processes and systems. The system will essentially  allow users to meet their import, export and transit obligations by submitting information once, and in one place. This was due to commence its initial phase in 2024. However it has now been confirmed by the Exchequer Secretary to the Treasury in Parliament that delivery is being paused. An update will be provided as part of the next phase of the Spending Review which is expected to report in late Spring 2025.  New guidance for customs  Earlier this month the following customs guidance relevant to Northern Ireland was published by HMRC: New guidance for customs Earlier this month the following customs guidance relevant to Northern Ireland was published by HMRC: Moving goods from Great Britain to Northern Ireland under the Windsor Framework: https://www.gov.uk/guidance/internal-market-movements-from-great-britain-to-northern-ireland, UK Internal Market Scheme process for using the UKIMS entry in the declarant’s records to move goods when the new Windsor Framework arrangements come into effect: www.gov.uk/guidance/apply-to-make-an-entry-declaration-in-your-records-under-the-uk-internal-market-scheme, Notification of presentation waiver: www.gov.uk/guidance/apply-for-a-notification-of-presentation-waiver-for-goods-moving-from-great-britain-into-northern-ireland, Categorisation: www.gov.uk/guidance/categorising-goods-for-internal-market-movements-from-great-britain-to-northern-ireland, Safety and security requirements on imports and exports, Register to use the Import Control System 2, Make an entry summary declaration using the Import Control System 2, Register to make an entry summary declaration in Northern Ireland, Making an entry summary declaration, Certified traders and tax representatives — EU trade in duty-paid goods, How to claim a repayment of import duty and VAT if you've overpaid, and Get proof your goods have Union (EU) status. Miscellaneous guidance updates and publications  Pay into your Customs Declaration Service cash account, Internal temporary storage facilities (ITSFs) codes for Data Element 5/23 of the Customs Declaration Service, Report a problem using the Customs Declaration Service, How to claim a repayment of import duty and VAT if you've overpaid, Search the register of customs agents and express operators, and Check if you can apply for other transit simplifications with consignor or consignee status,  

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

The CCAB-I Insolvency Committee has recently published Technical Alert 03/2024 Succession Planning for Insolvency Practitioners. Insolvency appointments are taken in a personal capacity by an Insolvency Practitioner, who has an obligation to ensure that cases are properly managed at all times, and to have appropriate contingency arrangements in place to cover a change in the Insolvency Practitioner’s circumstances. This Technical Alert maps out a succession plan for an Insolvency Practitioner and covers some of the high-level considerations and discussion points to be considered by Insolvency Practitioners.

Circumstances more than work brought Mark Murtagh ACA to Spain five years ago. And, there could be more adventure to come. Where did you grow up and where do you live now? I grew up in Perrystown Dublin, and I studied Business & Accounting in TU Dublin Tallaght. I then completed my training contract in PKF, before working with O´Regan & Co for two years. My partner had moved to Barcelona to further her education, so I then decided to take the jump and move to Spain. What made you choose to be a Chartered Accountant? I had an interest in accounting and general business topics since I was young. I was always the first to grab the business sections of the Sunday newspapers, and I suppose my interest just grew from that into wanting to become a Chartered Accountant. It always came across like a great profession that opens doors for you and goes much further than just double entry, which has certainly proved to be the case for me!  Can you tell us a little about how you got to where you are today – both geographical relocation and career path. After completing my training contract with PKF, I worked with O´Regan & Co as Audit & Assurance Manager for two years, which allowed me to further develop my personal and business skills across a wide client base. My career however then came to a crossroads. My partner was already living in Barcelona Spain, and even though I was travelling back and forth monthly, it came to a point where I felt moving abroad could actually be a great opportunity to get out of my comfort zone both professionally and culturally. By nature, I am more of an introverted type of person, so the thoughts of moving abroad did give me some concern. However, looking back, it has been the best decision I could have made. I now work for Page Group, which is a British international recruitment company, as our Global Controls Assurance Manager. I am responsible for managing our risk & control framework across our Global Transactional Finance function. While we do have a key Shared Service Centre here in Barcelona, my scope also covers our other regional Shared Services Centres, which includes Slough, Buenos Aires, and Singapore.  I started working for Page Group shortly after arriving in Spain, so I have seen multiple roles in this timespan. In 2017, I started as an R2R Finance Process Specialist, responsible for documenting and improving our procedures, which then transitioned into working on the implementation of our new ERP for Europe. In 2020, I was promoted to R2R Global Process Owner, where I was responsible for managing and implementing standardised processes globally, before moving to my current role in early 2021, which required me to setup a new function and team within the organisation to manage our internal controls which includes financial and system controls within the Global Transactional Finance department. Over the past five years, I have also been lucky enough to travel to other key locations for my company which includes Paris, Stockholm, Amsterdam, London, Buenos Aires and shortly Singapore. What do you value most about your membership of the profession and how do you think those benefits can be used to support the economy and society? The Chartered Accountant qualification has opened doors for me which I never would have thought possible five years ago. The training we receive allows us to provide valued opinions across a wide range of technical areas in any business or society, be it practice or industry. As a member living in mainland Europe, can you talk to us about how your membership has been of value to you globally and what do you value about it now that you´re living overseas (and what would you like to see more of)? Living in Spain, Chartered Accountants is not as widely recognised publicly, however, it is a well-respected qualification and I believe it played a key part in helping me succeed, firstly in getting a job in Page Group, but also on what I have achieved since. Over the past five years, I have not only been able to progress in a professional sense, but also from a personal point of view. The plan is to stay in Spain for now, the way of life here is more relaxed, and the weather helps of course! My next goal is to further improve my level of Spanish and then see where life takes me next!  And finally, if you weren´t an accountant, what do you think you would be/have been? I think I would have been a policeman! Mark Murtagh is Global Controls Assurance Manager at PageGroup

Elizabeth Munnelly lives in Wisonsin, but got there via Dublin, London and Kilkenny. Read more about her journey from rural Mayo to the USA here. Where did you grow up and where do you live now? I grew up in a small rural village in North Mayo called Ballycastle which is home to an iconic landmark on the Wild Atlantic Way. I attended college in Dublin City University to study Accounting & Finance and stayed in Dublin for close to 10 years before moving to London, Kilkenny and now finally the US to work across a variety of different roles for a number of companies. I currently work for Kerry Group based in our North America HQ in Beloit , Wisconsin as VP of Financial Control, Tax, Treasury & FPA.  What made you choose to become a Chartered Accountant? My family run a small restaurant in our local village of Ballycastle, and so I grew up in an environment of understanding how business needs to run in order to be profitable, to always be able to pay your bills, minimise your waste and pay off your debts. The hospitality industry was a great place to learn about business as the margins in food and hospitality are minimal. Also, I always loved maths and business studies in school so Accountancy did feel like a natural fit. Once I joined the Accounting & Finance degree in DCU it was clear to me that the Chartered Accountant qualification was one I wanted to achieve and so I did this via the route of completing a training contract with Deloitte in Dublin where I worked in the Consumer Business division with a variety of different clients.  Can you tell us a little about how you got to where you are today – both the geographical location and your career path? While completing my training contract with Deloitte I became very interested in industries in the FMCG space such as retail and food as they are such an integral part of day to day life and I found this very interesting. I would advise people to try and be involved in a business in which they have some interest personally as this really will help to cement your connection with the company you work for and also hopefully create a sense of belonging.  After my training contract I joined Tesco in their Ireland office based in Dun Laoghaire, Dublin and worked in the Commercial division where I learnt a huge amount about the way retail operates at its very fast pace! I subsequently held another role in Tesco based just outside London before moving home to Ireland again and moving to Glanbia to work in both the Corporate Division and the Sports Nutrition division. After that I joined Kerry, initially based in Naas holding an Operations finance role which enabled me to visit a number of factories across the globe. I then relocated to North America, first completing a Commercial Finance role as Finance Director Beverage before moving to my current role as VP of Financial Control, Tax, Treasury & FPA.  One of the key learnings I've had in my career to date is to make sure to own your career planning and development as nobody else will have as strong a drive to make it happen as you do.  What do you value most about your membership of the profession and how do you think those benefits can be used to support the economy and society? The key value I see in the accountancy membership is the professional, educational and ethical standards it sets and maintains for all its members; organisations are assured of certain standards when an individual has this qualification and this is very important for the economy and society at a wider level. As a member living in the USA, can you tell us about how your membership has been of value to you globally and what do you value about it now that you're living overseas (and what would you like to see more of)? As I've mainly been overseas during Covid times, I have not utilised the in-person events yet. However I do keep abreast of updates and trends as highlighted by various updates and online courses. I think the key piece for me is having a ready resource to access services and other professionals when needed and I do see this continuing to be very important for me as my career continues.  And finally, if you weren't an accountant, what do you think you would have been? I think I would have worked in the hospitality or tourism sector! Elizabeth Munnelly is VP of Finance at Kerry.  

It may be a long way from Monaghan to Sydney, but Eimear McCarron now calls Sydney home. We found out more about her journey recently, and will keep an extra sharp eye on the Australian Open Tennis from now on! Where did you grow up and where do you live now? I’m from Emyvale in Co. Monaghan & I went to university in Queens Belfast, trained in Deloitte Dublin and I now live in Sydney Australia. What made you choose to become a Chartered Accountant? I don’t remember making the decision but I think that I wanted a profession that would give me great career and personal opportunities. My father has his own business so I did work experience in his accountants when I was at school. I like that as a chartered accountant you can be involved in anything from helping family businesses to being the CFO/CEO of a huge multinational. Can you tell us a little about how you got to where you are today – both the geographical relocation and your career path? I really enjoyed my time in Deloitte, Dublin, and think it was the best training and experience I could have had to start my career. However, I had a strong desire to travel and to try living abroad, so after a few months traveling in South America I moved to Sydney in 2014 with a few other Deloitte friends! I was lucky to get a job in Vodafone under another Irish Chartered Accountant, and they sponsored me after six months. I ended up staying in Vodafone for nearly five years doing several roles from FP&A analyst to merger integration planning so I got a very varied experience there.  I’m currently a Senior Finance Manager at Nine Entertainment – Australia’s largest media company. I lead the finance business partnerships for all group departments which includes sales, technology, head office, property, P&C, finance & legal. I really enjoy working directly with and learning from the most senior management in Nine and it’s exciting working for a media company that covers TV, radio and publishing. What do you value most about your membership of the profession and how do you think those benefits can be used to support the economy and society? The most valuable part is definitely the career opportunities it gives you. In Sydney, the Irish Chartered Accountant brand is very powerful and has a very strong reputation – employers hold it in high regard. I think the path to becoming a chartered accountant really sets you up for whatever path you choose next – the work ethic and experience you get while training really stands to you. As a member living in Australia, can you tell us about how your membership has been of value to you globally and what do you value about it now that you're living overseas (and what would you like to see more of)? I recently joined the Australian Society committee as I’ve always gone to the networking events over the years and found them a great way of catching up and meeting new people. Membership gives you that link to a professional community and I think it can definitely help new members moving overseas whether it be getting job opportunities or making friends in a new city. In-person events probably haven’t properly kicked off again since Covid so I’m looking forward to them returning soon.  And finally, if you weren't an accountant, what do you think you would be? I’ve recently taken up tennis so maybe if I had started that a bit earlier that could have been the career for me! Realistically, I think I might have liked engineering or something along those lines either.  Eimear McCarron is Senior Group Finance Manager at Nine.        

We caught up with Martin Devine, a member based in Perth, Western Australia, for a quick chat. Can you tell us a little about where you're from originally? I'm from just outside Ballymagorry in Tyrone, around 20 minutes from Derry and just across the border from Donegal. Why did you choose to become a Chartered Accountant and how did you got here? I became a CA to follow on from my degree in Accountancy. I always enjoyed working with numbers and it seemed like the next logical step. At that point I didn’t have a clear idea of where I'd like to end up career wise, but I thought the CA would help as a next step. I travelled to Australia with my girlfriend for a year in 2010 and we haven’t given up yet. I started off in a range of roles over eight years working with a private engineering company and in 2018 I moved on to Mader Group, an ASX listed heavy equipment maintenance company in the Group Financial Controller role. What do you value most about your membership of the profession and how do you think those benefits can be used to support the economy and society? I think the thing I appreciate most is how difficult it was to attain membership. The hours of travel, classes, study, exams really galvanised students on the way through. The result is that now when I see Irish CA on a CV, it immediately stands out from the rest. I was told by my practice partner when leaving Ireland that the Irish qualification was very well thought of, but it wasn’t until I started hiring that I realised the consistent high standard of people who make it through the programme. You have just spent the last 15 months living with Covid in Perth, Australia. Tell us a bit what that was like for you professionally and personally Professionally it's been a challenge. Border restrictions internationally and interstate have restricted our people movement which has made it difficult to continue to grow. Quarantine costs from travel and staff retention during this period have seen a hit on margin but that’s recovering now and we’re seeing growth back on a steady path locally and internationally. Personally, it's been tricky at times. We’ve had a few short sharp lockdowns but comparatively we’ve been incredibly lucky to still move freely for most of that period. We’ve welcomed our second baby in the last three months so busy times at home! Where is the first place you will go when travel in and out of Australia re-opens? We’d love to go home and show off our new boy. He hasn’t met his grandparents yet so would be great to get home for a period. A beach holiday would be great, but I think restrictions of some sort will be here across Asia for a while. And finally, Martin, if you weren’t an accountant, what do you think you would you be/have been? I always fancied myself running a restaurant, not sure if it would be front of house or in the kitchen but that would be the idea I think. Set aside the lack of cooking skills and knowledge of food retail!  

As a newly qualified Chartered Accountant, Paul Barron ACA was offered a position in Costa Rica. He packed his bags for Central America and now reflects on his experience - with some insights and advice for others in the same position. I trained as a Chartered Accountant with KPMG, qualifying in 2014. Shortly after finishing my training position, I took up a position with Fyffes (the banana people!) as an internal audit manager. This position involved travelling to the various Fyffes locations worldwide, performing controls testing as well as inquiring and then reporting back to the Board of Directors with my findings. After nine months in this role, I was offered a longer-term position as Financial Controller in Costa Rica. It seemed like a great opportunity to have a new experience and progress my career, so I went for it. I was nervous of course, but I spent three years in this role before returning to Head office in Dublin in March 2020.  Overall it was a great experience and I am very glad I did it, and here are my thoughts on the benefits and challenges of working abroad as a Chartered Accountant. Benefits and opportunities Excellent work opportunity – I managed a team of 12 people and was a central part of our operations in Central America. My willingness to relocate afforded me the chance to have a very stimulating and dynamic job which I don’t think I would have been considered for, at that stage of my career (1-year PQE), in companies of a similar size had I remained in Ireland. I got valuable management experience and really had to hit the ground running, which has stood to me since. Experience and exposure to interesting, varied work. I think I might have been exposed to some of these in a standard setting but going abroad to Costa Rica meant I was doing standard work in a non-standard (for me) environment like a large-scale farming operation or getting to see the tangible links between the finance team and the operation itself. During my three years in Costa Rica, I: got hands-on FC experience reviewing a large farming operation had the opportunity to manage a cross-cultural team was exposed to and given the opportunity to manage large capital projects interacted with most of the departments within the business and learned more about how they work Experience of a new culture and a new language Spanish was the language in the office and the operation, so I took classes and worked extremely hard on getting to a conversational level in my first six months working in Costa Rica. I like languages and have French in my primary and master’s degrees, so this was very enjoyable but also tiring and a big challenge I lived and worked in an area of the world about which I knew very little before relocating – it was enjoyable getting to know about a new culture, food, people and traditions and I’ll always have a nice connection with Costa Rica and  friends made along the way. Challenges The first nine months were exhausting with getting to grips with a new job that entailed a lot of responsibility; learning a new language; settling into a new home and trying to make new friends. I’d recommend a long holiday after about six months if you are considering relocating.  It takes some time to adjust to working within a cross-cultural team. I enjoyed the different outlook as time went on, but at times different approaches to tackling problems surprised and sometimes frustrated me. It was definitely a learning curve I was lucky that I had some Irish colleagues in the Costa Rican office. This certainly helped but integrating into a very different culture was tough and isolating at times and should be considered before relocating.  In summary Overall, I am really glad to have done it. I feel privileged to have been offered the opportunity to experience working in Costa Rica. Going to a different language, culture and climate all give rise to moments of culture shock and homesickness, but also moments of real enjoyment. You do need to be realistic about the pros and cons but also resilient and somewhat brave.  Having the comfort of my ACA qualification and Institute membership, my Irish colleagues in Costa Rica and my company support both there and at home all made the move much more accessible. I could have come up with as many reasons to not go as to go, so I have no regrets but am happy to be home! The experience in Costa Rica did definitely help me to establish and progress within my career and I know will continue to stand to me. I may still keep my eyes and ears open for other international opportunities. Institute supports I found the Career service very helpful throughout. I spoke with Karin Lanigan on average three or four times a year and still do on my career development. It has been extremely useful to help me plan my career and also have a sounding board when decisions have to be made. It is a great and unbiased service which has been a real help to me. In particular, it helped me plan my move home - which can be as challenging a transition as the initial move.