In every issue of The Bottom Line, we ask students for their thoughts on a particular topic. This month, we want to know: what's the biggest challenge you've overcome training to be a Chartered Accountant?
Lydia Kelly, Deloitte
As a fresh and enthusiastic graduate of the BSc in Accounting at UCC, I was confident in my expectations and understanding of the role of a trainee Chartered Accountant.
As I commenced my training contract with Deloitte’s audit department in Cork, however, I succumbed to the pitfall of strictly classifying my time into two categories: work or study.
It seemed like the natural course of action to gain the skills and knowledge needed in the working world, while also staying on top of my pre-recordings and webinars for the dreaded exams.
This, however, led me to burnout. It was a steep learning curve as I discovered that committing 100 percent of yourself 100 percent of the time does not equal success.
Although work and study are two of the main components of becoming a Chartered Accountant, there is also a third – self-care. It can be all too easy to neglect your mental and physical health when you feel stressed. I fell
victim to this during my CAP2 exams and the busy season.
Helpful advice I received during this time was that self-care should be part of your timetable – not just a reward at the end. This is something I will continue to apply in my professional career long after completing my
training as a Chartered Accountant.
Conor Flynn, EY
Training to be a Chartered Accountant can present an array of challenges, particularly at the beginning of the training contract. Although some of these challenges will be specific to the individual, there are common hurdles all trainees must overcome. These include effectively managing your time, achieving work-life balance and passing your exams.
My training contract began in September 2021, a period during which COVID-19 dominated all our lives and remote working had become the norm.
Joining a new firm in normal circumstances can be challenging; joining a new firm during a pandemic, and working remotely for the first time, presented me with an entirely new set of challenges.
Beginning my journey to becoming a Chartered Accountant in a remote environment wasn’t easy.
Although my team put systems in place to reduce the impact of remote working on new people joining the firm, the benefits of working in the office for trainees cannot be replicated entirely online.
My experience was that effective communication, collaboration and relationship-building were significantly more difficult online.
What I learned was that the importance of the office cannot be understated. It enables trainees to develop a professional identity and sense of belonging within their firm. Therefore, I see the move to hybrid working as a positive for trainees. The benefits it brings include greater opportunity to collaborate and build relationships alongside the welcome flexibility of remote working.
Tony Sanchex, Deloitte
I think for me the biggest challenge I have faced in training to be a Chartered Accountant is learning how to apply my theoretical studies in real-world business situations.
Considering the exam style, especially at the FAE level, we have been pushed out of our comfort zones as we apply relevant accounting standards, analytics and general knowledge to cases we may very well face at some stage in our professional careers.
Thankfully, the support and client experience I have gained working with Deloitte has allowed me to practice this skill every day.
This type of learning doesn’t happen overnight of course, but I have found that the more you think about the business environment, industry trends and economic factors impacting clients on a day-to-day basis, the easier it is to tackle your exam technique, as well as develop a healthy work habit for life.
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