Chartered Accountants Ireland market share climbs to 52% as 31,000th member conferred
Almost 600 conferred in Dublin, Cork, and Belfast ceremonies
Speedier processing times for work permits for chartered accountants from outside EEA critical to economic growth – Institute
14 October 2022 – Chartered Accountants Ireland was the fastest growing accountancy body in the UK and Ireland over the five-year period to 2021 according to figures from the FRC Key Facts and Trends report 2022. This comes as the Institute admits its 31,000th member, Simon Kearney, who trained as a Chartered Accountant on the Aer Lingus graduate programme. Almost 600 new Chartered Accountants will be conferred in the coming days in Dublin, Cork and Belfast.
The longest established accountancy body on the island had 21,005 members (i.e., fully qualified accountants admitted) in the Republic of Ireland and 4,814 members in Northern Ireland at the end of 2021. The Institute’s total market share on the island now stands at 52%, comprising a 50% market share in the Republic of Ireland and 63% in Northern Ireland. This represents 30% growth in ROI market share and 22% growth in NI since 2015.
Commenting Director of Members, Brendan O’Hora, said
“In a highly competitive market, it is extremely encouraging to observe the continued growth of the Chartered brand, in membership and market share on the island of Ireland. The upwards movement is driven by strong admissions, as well as members maintaining and valuing their membership throughout their career. I am delighted to welcome Simon to membership. His route to qualification with us, training on the Aer Lingus graduate programme demonstrates the many and varied paths to ACA for students today.”
Simon Kearney, the Institute’s 31,000th member said
“I have had a lifelong interest in aviation, and training as a chartered accountant in industry with Aer Lingus allowed me to combine that interest with my goal of working in finance. Through three different rotations in the finance function, I had exposure to technical accounting as well as learning about all aspects of the business. Gaining the qualification is a major milestone in my career, and as it is globally recognised, I know it will lead to opportunities worldwide across many industries. I would encourage anyone who is interested in becoming a chartered accountant to explore opportunities in industry with Chartered Accountants Ireland.”
Supporting the economy in a tightening labour market
Accountants are included by the Department of Enterprise, Trade and Employment on its Critical Skills Occupations List, which highlights areas of employment where there is a shortage of qualifications, experience or skills required for the proper functioning of the economy. Chartered Accountants Ireland notes that reductions in processing times for work permits for chartered accountants from outside the European Economic Area, will play a key role in meeting client and market demand for qualified chartered accountants, both in practice and in industry.
O’Hora continued
“Despite growth in the community of Chartered Accountants, supply constraints remain, and we hear this anecdotally on a daily basis. We have been working with government to reduce the Critical Skills Employment Permits application processing times for accountants who have already been hired to come and work here. In recent months, the Department of Enterprise, Trade and Employment confirmed that processing times for such permits has been reduced to 6-8 weeks from as high as four months, which is very positive given the important role of chartered accountants in almost every facet of business.”
In addition to its membership on the island of Ireland, Chartered Accountants Ireland has almost 5,000 members working in industry, practice, and the public sector across 90 other countries.
ENDS
Note to editors
Additional statistics drawn from the Irish Auditing and Accounting Supervisory Authority (IAASA) Profile of the Profession report and the Consultative Committee of Accountancy Bodies (CCAB) figures for 2021.
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