MARKET DEMANDS


ACCOUNTANTS TO AID IRELAND’S RECOVERY


The future is looking bright for young accountants as they gain skills now that will stand to them in their career


GEOFF MEAGHER, president of the Institute of Certified Public Accountants (CPA), challenged young accountants to be flexible and adaptable if they hope to survive, at the Institute's annual confer- ring ceremony recently. Welcoming last year's class of 167 CPAs


Meagher said: "This past year has brought incredible change and challenge for everyone. Rather than turning a cor- ner on the road to recovery, as prophesied in last year’s Budget speech, it appears we will continue to endure the impact of poor political choices, an inept system of financial regulation and a banking system that rewarded short-term lending at the expense of long-term sustainability. “However, we will recover. To support


this recovery we need high quality, accu- rate and reliable financial information. Accountants provide this information and we will play a critical part in Ireland’s recovery. The language of business is finance, and everybody needs to become proficient in that language going forward. “Changing standards and regulations


will surely emerge from the financial cri- sis, so you must be able to adapt to these changes, be flexible and agile, to grow and survive.” Meagher also outlined the need for


Geoff Meagher, president of the Institute of Certified Public Accountants (CPA) with (l–r) Shane Feeney, Ballyduff, Co Waterford; Ronan Ryan, Blarney, Co Cork; and Mark Dineen, Ballyvolane, Cork City, who were pictured at the CPA conferring ceremony at the Helix, Dublin City University. Meagher challenged young accountants to be flexible and adaptable in order to survive in today's changed economic environment


graduates to expand their skill set to add value to employers. “To be really valuable, you must set yourself apart as a strategic financial advisor, with a forward focus, because the demand for historical bean counters is quite simply obsolete. In the leaner, more efficient world of business, only those that really add value will thrive, so it is imperative that graduates continue to learn, to upskill and build upon their excellent CPA qualification.” According to Meagher, the future remains bright for young accountancy


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Although not


immune to the recession, CPAs have a diverse range of skills that have allowed us to fare relatively better than other professions


graduates. “Some of us have survived more than one recession, albeit none as severe as the current crisis. 2011 will see further international turmoil and indeed continued pressure on the existence of the euro. “However, you will gain skills and expe-


rience in these difficult times that will stand to you throughout your career. You will acquire a sense of perspective that many lost in recent prosperous years. “Although not immune to the recession,


CPAs have a diverse range of skills that have allowed us to fare relatively better than other professions. And it is these skills that will serve you well when the demand to grow finance teams with experienced, qualified staff returns.”


The gender balance race is on


THE National Women's Council of Ireland has applauded the Institute of Certified Public Accountants in Ireland (CPA), which recently recognised the need to address the gender balance issue in the accounting profession. Speaking at the 2010 graduation cere-


mony in the Helix last December, Eamonn Siggins, CEO of CPA, took the opportunity to challenge the emerging female gradu- ates to strive to take on senior roles in the traditionally male-dominated accounting profession. “The gender balance in our conferring


candidates is dominated on a ratio of 67 females to 33 males. This once male-dom- inated profession is changing rapidly and we at CPA expect to be the first profes- sional accountancy body in Europe to achieve gender balance in our entire membership,” he said. “From today we are at 53pc male mem-


One of the main accounting bodies in Ireland recently highlighted the need for female graduates to aim higher in the profession


bers to 47pc female so the race is on. However we have had just one female president so far and three of our 17 coun- cil members are female so the challenge is there for you ladies to move into leader- ship positions within CPA.” The National Women’s Council of


Ireland’s head of finance and operations Maureen Kelly was one of the graduates at last year’s event. Separately, Limerick Institute of


Technology (LIT) student Rachel Sinnott


demonstrated how women can excel in accountancy, having recently been award- ed the prestigious CPA Merit award. She received the award for achieving


best overall student on the Bachelor of Business (Hons) Degree Programme in Accounting & Finance. Originally from Rosslare Harbour, Co


Wexford, Sinnott graduated from LIT with a First Class Honours Bachelor of Business Degree in Accounting & Finance (Level 8) in Autumn 2010. She went on to work with Moore Stephens Patrick McNamara, Accountants and Business Advisors in Limerick. “The CPA award provides LIT students


with an extra motivation to shine. Rachel has excelled at academic level and it is fantastic to see her go on to pursue the professional qualification,” said Marian Duggan, head of the School of Business & Humanities at LIT. The CPA is one of the main Irish


accountancy bodies with more than 5,000 members and students in the island of Ireland. The CPA designation is the most commonly used designation worldwide for professional accountants and the Institute’s qualification enjoys wide inter- national recognition. Its current membership operates in


public practice, industry, financial servic- es and the public sector, and CPAs work in over 32 countries around the world.


Accountancy, Spring 2011 // 7


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