Maria Johnson, Head of Finance for Capital Investments at Iarnród Éireann, talks to Liz Riley about her journey to becoming a Chartered Accountant, the value of balance, and the lessons learned from a diverse and rewarding career Starting out, my journey to accounting was somewhat convoluted.  First, a late change to my CAO form brought me to the University of Limerick where I did a degree in Business Studies and French at the University of Limerick, ultimately choosing to major in Economics and Finance and minor in French.  I undertook the Professional Diploma in Accounting at Dublin City University (DCU) and I am now a Fellow of Chartered Accountants Ireland and Head of Finance for Capital Investments at Iarnród Éireann.  I am also lucky enough to be a mother, a stepmother, a daughter, a wife, a sister and a friend.  Capable business advisor I participated in the “milk round” while studying at DCU and decided that training in audit with BDO should be my next step.  The firm proved the ideal choice to commence my career as a Chartered Accountant.  As the audit department was not split into sector-specific teams, I was exposed to numerous sectors, including pharmaceuticals, financial services, professional services and manufacturing, during my training contract.  I also completed two client-based secondments, which gave me valuable real-world experience early in my career.  The BDO philosophy was to ensure the firm’s graduates would become capable business advisors as well as confident accountants through consistent exposure to partners and senior managers, genuine dealings with clients, attendance at relevant meetings and opportunities to present findings and solutions.  This philosophy has benefited me throughout my career, enabling me to work across sectors undaunted and ensuring that I can have valuable conversations with clients and colleagues as required without reservation.  I learned not to be pigeonholed either through education or early career choices. Up-and-coming accountants should aim for a degree and graduate programme that is established and will give them maximum exposure to sectors and professions in their chosen field.  Trading in facts I completed my graduate programme in October 2008, just as the Celtic Tiger was waning and the recession approached.  I was asked to join the Corporate Advisory and Recovery Team at BDO. I worked on this team until June 2014, moving from manager to senior manager during this tenure.  It was an unimaginably busy but rewarding time. All insolvency processes involve an investigation and an evaluation of how the company ultimately failed. These investigations involve forensic reviews of the books and records of the company and meetings and interviews with the officers of the company.  I learned to always remain resolutely professional, treating everyone I meet respectfully and equally – never make assumptions, trade only in facts and always back up all conclusions with evidence. Managing “the juggle” In July 2014, I moved to London with Mazars to work on an engagement for the Financial Conduct Authority. From there, I came back to the Dublin office to work in the financial consulting and decision-making support team. Our team specialised in financial modelling, data analysis and capital business cases. I became a Director on this team in September 2019.  During my time at Mazars, I became a proud dog owner, got married and became both a stepmother and a mother. We also moved from the highly convenient Harold’s Cross to a more family-friendly Portmarnock.  So, I became very well acquainted with “the juggle”.  When I returned from maternity leave, I received some timely advice suggesting I should become very aware that my time was no longer ‘elastic’, meaning I needed to set strict boundaries and stick to them.  This advice has always stuck with me and helps me to set my priorities for the day or week and allocate focus time to achieve those priorities. While it is always good to be flexible, this can no longer be a constant when crèche closing times are set in stone.  Making a different to Ireland’s future In March 2020, I joined Iarnród Éireann as Head of Finance for the newly formed Capital Investment Division. Capital Investments is tasked with building the “railway of the future”.  The Capital Investments team is currently delivering the DART+ Programme, the Cork Area Commuter Rail Programme, the reopening of the Foynes Line in County Limerick and many more projects across the island of Ireland.  I always loved practice. My move was not planned. It was simply that a role I was truly interested in pursuing crossed my path and I couldn’t resist exploring it further.  I have seen many colleagues and friends take roles specifically based on monetary rewards. While this is, of course, important, it rarely results in long-term career success.  I am enjoying working on a multidisciplinary team that is making a real and enduring difference to the Ireland of the future. This role allows me to leverage all the lessons learned in my career to make a real contribution to a busy senior management team. Don’t rush and take time to learn from and enjoy the many opportunities that come your way. I have held many different roles within the accountancy profession.  The work I have undertaken and the professionals I have had the privilege to work with along the way have shaped how I interact with colleagues, approach the work I do and represent my team at an organisational level today.  I’ve learned several things over my career that has influenced my work at Iarnród Éireann: Where possible, always work for companies that have a culture and strategy you are comfortable with.  Real flexibility and respect for work-life balance are lived experiences rather than buzzwords in graduate brochures and company websites.  Organisation is key. I have a great team who are highly committed to their work. I am grateful to them for all that they do, but I also respect that they all have competing priorities. Everyone has competing priorities in life irrespective of their gender, age or stage of life. We try to identify additional priorities and ad hoc tasks well in advance and plan for them around business-as-usual responsibilities to ensure everything is done in a timely and professional manner Balance in teams is essential. I have been a manager in one guise or another since I was 25. I have always happily gotten to know each of my teams. Impromptu coffees and lunches and, most of all, genuine interest are much more valuable than expensive annual outings, etc. Respect, organisation, a shared goal and camaraderie must be a constant in any successful team. Striving for balance Life is a balancing act. I have always worked for organisations that respect diversity and inclusion. I have had colleagues from all backgrounds and across many nationalities. I don’t believe being female has strongly influenced my career and I have been awarded opportunities on merit where deserved.  Where the juxtaposition of gender roles does come into play is in the mid-career juggle between career and family. Society’s expectations are enormous and growing, and the pressure to be the best at everything is real.  I am lucky to have a husband and life partner who also holds a demanding role and who is committed to working with me to do our “best” with life’s challenges and professional obligations in a given week – not “be the best”, but do our best.  I once heard at an International Women’s Day event in London that in any relationship there is an ebb and flow as to whose “time” it is. This is how we run our household every week. It is not always any one person’s “time”, but rather everyone gets their “time” when they need it.  In reflecting on my journey, I recognise that every step – whether carefully planned or serendipitous – has contributed to the professional and personal life I lead today.  To those beginning their own journeys, I would say this: remain open to change, stay true to your values and strive to balance ambition with the things that truly matter in life. The path may be winding, but it’s the experiences and people along the way that make it rewarding.

For Jaimie Dower, having a supportive work environment has played a critical role in helping her to navigate her gender transition positively and proactively When Jaimie Dower made the decision to transition in May 2022, she knew how important it would be to take a proactive approach to communicating her experience, not just in her personal life but also at work to her colleagues and clients at EY Ireland. For Dower, who is an Executive Director in EY’s Audit Quality Programme, her transition marked a watershed moment in her life. She was, she says, finally ready to “stand up in front of the world and say, ‘this is me’.”   “This is something that has been with me my whole life and something I had up until that point struggled with and hid,” Dower explains.  “There was always a disconnect – the person I knew I was inside and the person I was on the outside were not the same.  “It impacted my life in so many ways because there was always this noise in my head – this static – and the way I dealt with it for many years was to mentally compartmentalise and throw myself into things and say to that noise, ‘go away; I’ll deal with you another time.’” For Dower, who lives in Waterford and works at EY’s southeastern hub in the city centre, it was the onset of the COVID-19 pandemic in early 2020 that proved the catalyst for her transition. Working long hours at home and surrounded by the uncertainty that had engulfed the world as the pandemic took hold, she found she was no longer able to rely on life-long coping strategies. “I think this will resonate with a lot of people for their own reasons, but that first COVID lockdown in March 2020 really brought things to a head for me,” she says. “Out of everyone in our family, I was the one working alone from home the most. I had a lot of time to myself and, suddenly, I couldn’t manage those boxes I’d compartmentalised everything into anymore.  “Looking at what was happening in the world around me at that time, there was also this really strong sense of, ‘life’s too short.’  “It wasn’t just that I didn’t want to hide who I was anymore; I wanted to celebrate it. I wanted to stand up in front of the world and say, ‘this is who I am.’ That really came home to me during COVID.” First steps and early conversations Dower’s first step was to seek professional help. Working with a therapist helped her to ‘clarify’ her thoughts and begin to plan the practicalities of managing her transition.  “Talking to someone at that stage was very important – to have that help and support in coming out to myself, really, and the sheer relief of being able to say it out loud. It was powerful,” she says. By mid-2023, having begun hormone treatment, she was ready to start thinking about how to communicate her transition at work. “The hormone treatment changed my life. I can only describe it as coming into full focus for the first time. The dissonance I had felt all my life faded away. Now, I had to think about how to start telling people about my transition – to put a plan in place I was comfortable with.”  Initially, Dower decided to get involved in Unity, EY’s global LGBTQ+ network. “I took things slowly at first, getting involved in things like helping to organise Pride events. I got to know colleagues in the network and had one or two small conversations – really just to begin to gather my own thoughts on how to approach this.” By late 2023, Dower was ready to take more formal steps, and she reached out to EY’s HR team for support. “Their support was incredible. I was able to work directly with a colleague on the HR team I knew I could trust to work out a plan. That trust was immense for me.  “We talked about when I would start speaking to people, who I needed to speak to and when, and about what I wanted to say.” Intentional communication Dower began communicating with her colleagues in mid-February 2024 in advance of presenting at work as her authentic self. “There was a lot of anxiety for me initially around those conversations. Having worked at EY for 30 years, I did feel a lot of pressure because I have long-standing relationships with colleagues within the firm and clients externally and they trust me.  “I had faith that there would be a positive response, but in the back of your mind, there is always the worry that someone might not react well. “I will never forget that first call we set up for 2pm on a Friday afternoon with all the Assurance Partners across EY in Ireland – that was our starting point. “I work with EY people all around the country, but primarily in our Dublin office, and I needed to communicate to everyone.  “So, once I had that call with our Assurance Partners, I set up another group call with everyone on my team and then I sat down face to face with everyone in our Waterford office.” Although intense and, at times, overwhelming, the process also proved to be “empowering” for Dower who welcomed the positive feedback and support offered by colleagues.   “It was the support that came afterwards that really meant so much to me – people reaching out to say, ‘I’m delighted you were able to come to me and tell me this. I am with you – I support you.’  “Just knowing I could come to work as myself and it would be okay was incredible, because not everyone has that experience. Not everyone has that support.” While not easy, the process held great value for Dower, who felt empowered by being able to work proactively with her colleagues at EY to communicate her transition. “Every one of those conversations was difficult, no matter how many times I did it. Effectively, it was just me having to strip away all my defences to tell my story in different ways to different people depending on the nature of our working relationship and how well we knew each other.” “In some ways, it is a never-ending journey, but all I am fundamentally saying is, ‘I am still me, but I am the authentic me – a better version of me’.” Meaningful support and guidance In supporting employees at work as they transition, Dower sees enormous value in collaborative diversity, equity and inclusion initiatives, such as EY’s Unity network, which can help to foster a sense of community and act as a crucial conduit for support and communication. “Through my involvement with Unity, I had the privilege of being able to play a role in revising EY’s Transgender Identity, Expression and Transition Guidelines and I was also able to take part in a Transgender 101 Webcast for staff across the organisation.” As Dower sees it, such initiatives are vital in helping to foster a supportive environment for transgender employees and providing guidance and resources for the wider workforce. “From the employer’s perspective, education is so important. I’m not in a position myself to go around every day educating every person I meet. That’s where things like guidelines and webcasts can have real value. Even just a little bit of education can go a long way.” In particular, Dower sees value in establishing clear guidelines that are equally applicable to all and give everyone a simple and transparent baseline to work from. “I’ve had a sense sometimes that some colleagues may be a little nervous. It’s not that they are not supportive, it’s maybe that they are afraid that they might say the wrong thing or use the wrong terminology, and inadvertently cause offense or upset – and that is the last thing I want,” she says. EY’s Transgender Identity, Expression and Transition Guidelines include sections on gender identity and expression and the correct or inaccurate use of terms relating to gender expression, including pronouns. Guidance is also offered to managers on how to support transitioning employees and to individual employees who are transitioning. “I am very fortunate that EY as a firm, as an employer, has been so willing to work with and support me. When I reached out, the response wasn’t, ‘this is what we need from you,’ it was, ‘what do you need from us?’  “Now, I really want to communicate how important this is to the wider world, because I feel a responsibility to others who are transitioning and may not have the same support I have at work,” Dower says. “Because I have been with EY for 30 years, I have the privilege of a longstanding presence in the organisation and all the trust that comes with relationships built over that time. “Right from the outset I’ve thought, ‘if I can get this right, it might make it easier for someone who is younger and newer in the door who is going through the same thing.’  “Representation matters; visibility matters. Ultimately, I want to do what I can to help make this process easier for others in the future.” Interview by Elaine O’Regan Supporting employees transitioning at work For any person undergoing gender transition, the support of their employer, managers and colleagues will be crucial, and open, honest communication will play an important role in building trust and supporting a positive experience.  “At EY, we are committed to supporting individuals as they go through gender transition and working closely with them to provide personalised support, aid in establishing an action plan and setting expectations,” says Derarca Dennis, EY Ireland’s Assurance Partner and Sustainability Services Lead. “We value diversity and inclusion and the creation of a safe workplace in which everyone has the best opportunity to reach their full potential.” Based on EY Ireland’s own Transgender Identity, Expression and Transition Guidelines, Dennis shares seven key ‘best practice’ focus areas for all employers and managers seeking to support their own employees undergoing gender transition: Develop a transition plan When an individual approaches you with their intention to transition, it is imperative that you are supportive, open-minded and honest. Be prepared to discuss their aims and expectations, and what they intend your role to be in the transition. Make sure to consider stakeholders, colleagues, policies and procedures existing in the workplace. Ask your HR team for guidance and support as needed. Prioritise effective communication Clear, open and honest communication from managers, employees and the transitioning individual is essential. Communication will be different in all transitioning plans and dialogue can help alleviate any potential difficulties or issues. Hosting information and awareness sessions for team members and other stakeholders should be considered when developing this plan. Other fundamental communication areas to consider include what the transitioning individual is comfortable and willing to share.  Practise sensitivity and respect Be prepared to treat any employee who is transitioning with respect and an open-minded attitude. Be ready to ask questions, listen and understand their needs and concerns. All employees deserve to be treated with respect and sensitivity when related to their personal lives.  Use pronouns correctly Using the correct pronouns (he/she/they/ze etc) is extremely important. Simply ask the individual which pronoun they would like people to use and then ensure that everyone knows this. It may seem like a small thing, but it is incredibly important to get right as it demonstrates validation of the individual’s authentic self, which will go a long way towards helping them know they are fully accepted in their expression of their gender identity. Educate and raise awareness While everyone is expected to behave in accordance with policies, there should also be an opportunity for education and questions to be asked related to the transition process. It may be useful to host information sessions and forums to address concerns and educate employees who work in the team.  Guide on client conversations Should the individual be client-facing, they should be offered support (if required) in facilitating a conversation with any clients they work with. It is important to reinforce that their technical abilities will not have changed as a result of their expression of their gender identity and clients should be made to understand that all team members working with them must be treated with the same support and respect.  Respect confidentiality and privacy You should always maintain an appropriate level of confidentiality and privacy in relation to employee matters. Information should only be disclosed to those who need to know (such as HR, for example), those involved in the process, or those who have the consent of the transitioning employee. 

As we draw the curtain on a challenging year, three Chartered Accountants offer their personal insights and predictions for the Irish economy in 2025 John Donoghue, Chief Executive Officer at Ifac As we look ahead to 2025, Ireland’s farming and agribusiness sectors face a pivotal year marked by both opportunities and challenges. While 2024 has delivered favourable weather conditions and decent commodity prices, regulatory and environmental hurdles will test the resilience of agricultural enterprises in 2025. The most pressing concern is the potential loss of Ireland’s nitrates derogation. The derogation has been crucial in enabling Irish farms to maintain high productivity levels, and its removal would require significant operational changes. At Ifac, we are conducting extensive stress testing with dairy farmers to assess various scenarios, including reduced herd sizes, expanded storage facilities and land acquisition strategies. We recently welcomed Dr Rosie O’Neill as Director of Sustainability, and she is working closely with businesses in food and agriculture to help them plot their sustainability journey. Sustainability has emerged as the defining challenge across farming, food production and agribusiness. Large food producers face mounting pressure from retail customers to demonstrate not only their own environmental credentials but also the sustainability of their entire supply chain. The dairy sector appears to be reaching a plateau after years of expansion. Current trends suggest the number of dairy farmers in Ireland could decline from 16,000 to about 12,000 over the next five to six years, presenting significant output risks and a big challenge for our major dairy co-operatives. The regulatory burden continues to grow, particularly with the Corporate Sustainability Reporting Directive (CSRD) coming into effect. From 2025, a broad group of our corporate clients will need to report on their sustainability metrics, adding another layer of complexity to business operations. Export markets offering growth opportunities and expansion into larger markets, particularly the UK and US, remain crucial for our food producers. The road ahead demands a delicate balance between maintaining productivity and meeting environmental requirements. Success will require investment in sustainability initiatives, careful strategic planning and continued innovation across the sector. Sarah Meredith, Tax Partner at Grant Thornton From the perspective of a tax advisor, my hopes for 2025 include simplifying and bringing certainty to the tax code. We have witnessed some seismic changes to the tax landscape in recent years, driven largely by the Organisation for Economic Co-operation and Development (OECD) and European Union initiatives. For groups within the ambit of the OECD’s Pillar II rules, the approach to tax compliance has fundamentally shifted from 2024, regardless of whether there is ultimately further top-up tax due.centre The Department of Finance has launched several initiatives centred around simplification, including the interest review and examining the SME sector to streamline tax-related matters. It would be hugely beneficial to see tangible results from these reviews. Alongside the tax regime, I would also hope that Ireland – and, in particular, the new government – will address issues such as housing, infrastructure, planning and the funding of higher education. These are the crucial pieces of the jigsaw for Ireland to remain competitive. With falling interest rates, supported by lower inflation rates, I would be hopeful of higher deal flow and activity within the economy. The modified domestic demand (a proxy for the domestic economy) is forecast to grow at circa 2.6 percent annually from 2024 to 2026, buoyed by the continued strength of the labour market. These factors should all provide a good foundation for maintaining Ireland’s competitiveness and attracting inward investment. Overall, Ireland's future looks bright, but we need to ensure we provide a solid framework within which businesses can continue to grow and expand, which should be supported by both infrastructural improvements and the provision of tax certainty. Mark Flood, Director at Renatus Capital Partners Parking the obvious global geopolitical elephant in the room, we are very positive about the outlook for businesses in Ireland in 2025 for three reasons: The wave of inflation we have seen in recent years appears to be receding – the hangover remains for some, but in the main, many have either recovered increased inflation-driven cost to the top line or learned to be nimbler with their costs to counter its effect. There is historically low leverage out there among SMEs – they can withstand a lot. The healthy position of the Irish exchequer. Notwithstanding, there is a cohort of people and companies trapped by higher costs and capped income. Though these are in the minority, we should spare a thought for them. We have the best entrepreneurs in the world, and there are so many companies going global. At the same time, foreign funds are coming to Ireland because they see us as a country of great businesspeople and entrepreneurs. I spoke recently to a restaurant owner in a university town where, unlike others, accommodation has been injected. She told me her labour challenges had been largely solved by people living in her town and working part-time. It would be great if we could solve the accommodation crisis on a broader basis to improve the situation for all. Let’s hope we can solve our housing problem, that global geopolitical developments do not create further challenges and we can continue to drive on in 2025.