CPA Ireland: Recent Episodes
CPA Ireland
The Institute of Certified Public Accountants in Ireland (CPA) is one of the main Irish accountancy bodies with in excess of 5,000 members and students. The CPA designation is the most commonly used designation worldwide for professional accountants and the Institute’s qualification enjoys wide international recognition.
If playing by the rules isn't quite your style when it comes to job searching, then you will be interested in the top five rules you should be breaking on a regular basis
Thanks again to Sunday Business Post for last week's coverage - Accountants Emigrating for Better Career Opportunities
| Hi Folks! Welcome to Study CPA's newsletter for February 2011. My name is Ciara Murphy and I will be your contact at CPA. This month's newsletter as always provides lots of helpful advice on kick starting your career as a CPA with helpful information in our Careers Corner item. You will also find links to CPA's various social networking sites, where you can join our growing CPA community. Of course we are interested in hearing from you! What items do you want to see covered on our site? What are your career aspirations, concerns for 2011? Let us know and we will do our best to cover them here. You can get in touch at hello@studycpa.ie Keep up with the latest news from CPA. Some of the latest news pieces include information on eLearning with Griffith College Dublin and current opportunities available for those of you interested in pursuing work in the UK. CPA has a full calendar of college and work place events over 2011. During the month of February we will be presenting on the CPA route to professional qualification in UCD, Limerick College of Further Education, the IPA and in Adamstown, Co. Wexford. CPA will also be attending the gradIreland Post Graduate Fair in the RDS on Wednesday 16th February. Details can be found on www.studycpa.ie Interested in getting career advice? Feel like a change? Want to kick start that job search? Whether you want to update your CV or prepare for interview, Careers Corner is packed full of useful advice, hints and tips. For those of you who haven't seen it yet check out our new student brochure for all you need to know about becoming a CPA. Great news to for anyone who plans to register as a CPA student during 2011. CPA has waived the registration fee. We understand that students are facing a serious debt burden in the current climate and we don’t want to add to that pressure. CPA will also launch an exciting new competition in March. One lucky winner will have their CPA education paid for in full! More details to follow. Do you tweet, facebook, want to check out the latest CPA photos? Join us on Facebook, Twitter and Flickr. That’s all for this month’s edition. I hope you find it useful and feel free to spread the word or forward to anyone you think may be interested Bye for now! Ciara email: cmurphy@cpaireland.ie |
Thanks to the Independent for coverage in last week's Accountancy Supplement
See page 7.
Much appreciated!
Furthering your education can become another thing to juggle particularly if you work full-time. Griffith College is one of several third-level institutions helping students to overcome time pressures by offering lectures online.
Very often, people attending evening or part-time courses finish work in the evening and make a make dash through the traffic to get to lectures on time. If they get held up or the babysitter lets them down, they miss out. If they live or work outside Dublin or travel with work, things are even more difficult.
‘By providing online access to the lectures, we would save people travelling time, make further education accessible to people in remote locations and give people the flexibility to attend at times and in places that suit them’, says Gavin McCullagh an IT systems developer with Griffith College Dublin.
So how does it work? ‘The lectures happen on the Griffith College campus at the usual time for those students who can attend in person. A professional cameraman in the theatre records the lectures. For those who can’t attend, lecture videos go online that evening – usually an hour or so after- so people studying at home can watch. The videos stay online for the full term.’
Griffith College has a number of courses aimed at professionals studying in the evening or at weekends. Other courses prepare people for professional accountancy exams such as CPA. McCullough explains that to help revision, lectures are indexed by the topics covered. ‘So at a glace you can see that certain material was covered in a certain week, at X minutes into the lecture. If you want to listen back to that topic, one click and you immediately see that part of the lecture’, he says.
Alongside the lecture video, Griffith College also provides online access to the relevant pages of the textbook being covered, any handouts the lecturer provides, the homework for that weekend a homework solution and explanation video. ‘You submit homework online and it’s marked for you’, says McCullough. There are also online discussion forums for asking questions, debating issues and chatting in general. The system has been set up and running for three years now and so far it has worked well. ‘The feedback has been really positive’, says McCullough. ‘We see people watching lectures at all times of the day and from all over Ireland and abroad. People study at home, in work, hotels, cafes or any where there’s a reliable internet connection. ‘We’ve even noticed one or two people watching lectures on mobile phones. Support for iPad’s is next on our list.
Metroherald January 31st 2011 - eLearning with Griffith College Dublin
Find out more about CPA eLearning
New taxes on subscriptions to professional organisations are "sending the wrong signal" about Ireland's commitment to the highest business standards, industry groups have warned. The measures introduced in the Budget mean thousands of professionals will have to pay benefit-in-kind tax on their annual fees to organisations like accountants' bodies and the Institute of Directors.
The annual fees, which can run to more than €1,000 for some bodies, are typically paid for by employers and were traditionally exempt from tax. Under the new rules the fees are treated as a benefit-in-kind (BIK), triggering taxes of up to 52pc for individuals and PRSI of 10.5pc for companies.
The changes are being vigorously opposed by a range of professional organisations including Chartered Accountants Ireland, the Society of Actuaries and the Institute of Taxation.
"It's very counter-productive in terms of promoting Ireland as a safe place to do business," said Eamonn Siggins, who heads up the Institute of Certified Public Accountants (CPA).
"Professional competence is something that should be encouraged, not taxed."
Brian Keegan, who heads up fellow accountants body Institute of Chartered Accountants in Ireland, said while he didn't expect much slippage in his organisation's 20,000-strong membership, other areas could be hit. "We'd have a lot of people with us who are also in other organisations like the Institute of Taxation," he said.
Concerns
"They could be less likely to maintain those two memberships if they have to pay for it, particularly when those same employees are also paying higher taxes generally."
A spokesman for the Institute of Taxation said he had "strong concerns" which were "counterproductive for Ireland and its services".
"It is not a luxury or optional subscription for professionals but is a necessary educational and professional development requirement so they can practice and advise to the highest possible standards," he stressed.
Professionals who can demonstrate a legal need to be members of certain bodies, for instance auditors who need to be in accountants' organisations, can be exempted from the tax.
But Mr Keegan stressed that it would be up to employees and firms to make their case for an exemption to the Revenue -- "there's going to be a large administration burden".
Jim Murphy, secretary of the Society of Actuaries, said his organisation was "hoping" there might be some changes to the measures in a second Finance Act later in the year.
"Michael Noonan (Fine Gael's finance spokesman) tabled an amendment (when the bill was going through), so that bodes well," he said, in a reference to the anticipated change in government.
Failing a change, the Society of Actuaries is considering remodelling its charges so that the annual fee of €850 is broken into a subscription figure and fees for seminars throughout the year. This would trigger less tax, since BIK is only payable on membership fees.
"We'll keep lobbying for a return to the status quo," said Mr Keegan. "We're not going to stop."
Source: Independent, By Laura Noonan , Wednesday February 02 2011
'The decision was unworkable and would have placed many self employed under financial stress.'
The Institute of Certified Public Accountants in Ireland (CPA) has welcomed the announcement that the Government will not proceed with the proposal to bring forward the tax deadline for the self employed from 31st October to 30th September. The Institute had lobbied extensively against the proposed change saying it was unworkable and would have placed an additional unnecessary burden on the self-employed.
Eamonn Siggins, chief executive of the CPA said; “There was no prior consultation and it is clear that no impact analysis was undertaken before deciding to bring forward the tax deadline for the self employed. Many self employed are struggling in the current economic environment. Delays in getting paid and a severe drop in trade have impacted on revenue streams. There is considerable concern around the ability of many self-employed taxpayers to actually pay their tax bill and bringing forward the payment date would have put many under even more financial stress.
“There was also the issue of the availability of staff in accountancy practices to process tax returns. Much of the work would have had to be undertaken during of July and August to meet the new deadline. These are the prime months for study leave and examinations and the additional work would have caused severe pressure on small and medium practices throughout the country.
“We are delighted that reason has prevailed in this regard and would ask the Department of Finance to consult with the CPA and other accountancy bodies before introducing such measures in future finance bills”.
He added; “This is but one measure that concerns CPAs within an extensive Finance Bill, where issues are not been properly debated, and we are tracking progress on amendments as the process continues”.
In a challenging jobs market, employers are in the driving seat. In conversation with Ciara Murphy, marketing executive CPA, Louise Campbell, managing director , Robert Walters advises how to make yourself stand out in a competitive market, explains how to make the most of your talents, skills and experience and discusses the growing importance of networking in helping you find that all important role. Louise also looks at opportunties for CPAs both in Ireland and abroad
Running Time:14.44 minutes
Click the following link to listen:
http://www.cpaireland.ie/UserFiles/File/Business%20Development/Robert%20Walters%201.mp3
Sarah Bird, a leading practitioner of Energy Psychology recently spoke at the CPA Young Professional Development Days on the topic of Stress Management.
Sarah uses Energy Psychology interventions to work with the body’s natural energies, shifting the chemical patterns in the brain that maintain unwanted habits, inappropriate emotional responses and self-limiting ways of thinking.
Below is the second of two podcasts which deal with Stress Management. Click the links below to listen
Sarah Bird 2 - Stress Releasing Techniques
Demand for newly-qualified accountants has risen significantly in the Australia and Asia region, writes Dermot Corrigan, Sunday Business Post, 06/06/2010
Qualified accountants are heading overseas in search of jobs in more economically stable markets. According to Suzanne Shaw, business development director of the Institute of Certified Public Accountants in Ireland, candidates who make the move stand to benefit from a range of well-paid career opportunities in Asia and Australia.
“This area has not been as badly hit by the global downturn as Ireland and some other parts of the world,” said Shaw. “There are a huge amount of large corporations and foreign affiliates with operations there, which can provide fantastic career development platforms for qualified accountants. Whether you plan to stay there or come home after a period of time that experience would stand to you for your entire career. “
Shaw said demand for newly-qualified accountants has risen significantly over the past nine months, particularly in Sydney.
“Sydney is the first port of call for most Irish migrants to Australia and has a very large financial centre with a strong presence of global financial services organisations and blue-chip corporates,” she said. “There are opportunities in junior accounting roles and assistant management positions, which would be of interest to part-qualified accountants. At the other end of the scale, qualified accountants with a few years’ experience, can choose from a wide variety of permanent and contract positions, including commercial accountants and management accountant roles.”
In the Australian market, Shaw said that accountants were generally well-paid. “Many employers, particularly the institutional banks, will consider visa sponsorship to secure talent and offer attractive remuneration packages,” she says. “Salary-wise, newly qualified accountants in Australia earn between AUS$75,000 and AUS$90,000, which translates at about €50,000 to €60,000. More experienced candidates can go up the scale to between AUS$80,000 and AUS$120,000 (€55,000-€83,000). As well as attractive tax-breaks available to short term ex-pats resident in Australia, take-home pay can be considerably higher than you might expect to earn in Ireland at the moment.”
Shaw said qualifications and on the job experience gained in Ireland were generally recognised by employers in Australia. “The Irish CPA has a mutual recognition agreement with CPA Australia, so any member in good standing with either institute is considered for membership of the other body,” she said. “The Irish and Australian markets are not that dissimilar in terms of the technical competence required for accountancy roles. Irish individuals who can demonstrate strong business relationship and communications skills in their interview tend to do very well.”
Shaw said Hong Kong was the main financial services hub in the Asia –Pacific region. “Singapore is probably the most westernised city in the region, with one of the lowest tax rates in the world. Morgan McKinley recently surveyed 200 companies in Tokyo’s financial services and commerce and industry sectors, and found that 70% of these companies intended to hire new staff over the next 6-12 months. Each of these cities offers opportunities for Irish accountants who want to work there.” The main industries in Singapore include shipping, research and development, healthcare and business services.
“All day-to-day business is done through English, so there are advantages there,” said Shaw. “The positions are very typical to what an accountant would apply for at home – management accountants roles, change management roles, financial controller roles, analysts and tax managers. If you have the technical competence plus the interpersonal skills, you should do very well.”
Shaw advised accountancy professionals, who were considering a move overseas to do plenty of research. “It is no small step for anyone to relocate to another country, especially to a distant region that has a very diverse cultural and linguistic landscape,” she said. “There are certainly steps that make the transition as smooth as possible. Individuals can do plenty of research from home, using the internet to build contacts through sites such as Facebook and LinkedIn and take advantage of other networks such as their professional institute.” Contacting recruiters, either based here or in your target region, might be the next step, Shaw said. “A lot of recruiters in Ireland would have contacts in other international markets,” she said. “Premier, for example is part of the same group as Morgan McKinley, which has operations in the Australia/Pacific region. Robert Walters would also have extensive contacts in that area. Anybody interested in potential opportunities can just contact these and find out what is available. You can use the internet to make contact with recruiters in your desired location.”
Shaw advised candidates to consider upskilling in areas that would appeal to employers in their preferred overseas market. “Individuals can look to make sure that their technical competence matches the requirements of the jobs in the regions you are considering. It is always important for accountants to keep their skills up to date and any additional skills you can develop can give you that extra edge when you are looking for a job,” she said.
Jobs for accountants were thin on the ground in the Irish market according to Shaw. “There has been a complete turnaround in the recruitment dynamic for both part-qualified and qualified accountants whatever their experience,” she said. “Employers are definitely back in the drivers seat. The labour market for accountants like the other professions, declined in 2009. Generally speaking, it is remaining very competitive, particularly for newly-qualified accountants with a little less experience under their belts.” Shaw added, however, that there was some demand for specific skill-sets.
“Certain industry sectors have remained resilient or are coming back. For example, online gaming and renewable energies are growing. FMCG is definitely coming back and insurance and reinsurance have remained very resilient. We find that experienced candidates in these areas are finding it relatively easier to secure roles,” she said.
Shaw said she expected recruitment in financial services to recover gradually. “We are seeing a lot more positions coming on to the market, compared to this time last year and a trend, which we expect to continue, is a definite demand for contract staff,” says Shaw.
Suzanne Shaw, Director Business Development, Institute of Certified Public Accountants in Ireland (CPA)
They say there are very few recession proof professions, but accountancy certainly comes close. The majority of graduates seeking a secure future as an accountant are opting for a professional qualification like that offered by the Institute of Certified Public Accountants in Ireland (CPA), knowing it will be recognised world-wide and will therefore greatly improve their chances to obtain well-paid employment.
The CPA is one of the main Irish accountancy bodies with in excess of 5,000 members and students. “The CPA is the most commonly used designation for professional accountants worldwide, making it a highly portable qualification”, said Suzanne Shaw, Director Business Development, CPA.
She added, “With more than 1300 students currently pursuing a CPA qualification, the CPA is one of the fastest growing professional bodies in Ireland. The success of CPAs in securing employment in industry, the public sector and private practice in over 30 countries, reflects the value of a CPA qualification and the regard with which it is held, not only in Ireland but abroad.
“Our success, and the success of our students, reflects the strength of the CPA syllabus. The syllabus is continually changing to ensure that CPA accountants are progressive, innovative and proactive strategists capable of understanding and contributing towards every facet of a business. CPA gives students the option of tailoring their studies depending on whether they wish to work in industry or in professional practice.
The CPA qualification is open to all and the Institute attracts students from all walks of life. For those opting to pursue a CPA qualification following the completion of a business or accounting related qualification, such as Institute of Accounting Technician examinations, exemptions are available from some CPA exams. However many students are non-business degree holders or mature students, already in the work place and looking to change their career path.
According to Shaw, “A strong trend which we are experiencing at the moment is the rise in the number of CPA applicants who are changing career or looking to increase their attractiveness to employers, which is undoubtedly being driven by the current recession”.
The CPA qualification requires three years training in either practice or industry under the supervision of a professionally qualified accountant. However this training can take place before, during or after studies.
According to Shaw, “The majority of our students to date have trained in tandem with studying for the qualification”. She added, “We offer a great deal of flexibility, which is very important to those who are changing careers. The CPA enables these students to remain in their existing profession while training and have up to three years after they sit their final exams to get their accountancy related work experience and training. This provides security during their studies. Study options are also offered on a fully flexible basis including full-time, part-time, weekends and by distance learning. CPA E-Learning, a tutor-supported online learning portal, will come on stream from September 2011.
While in training, CPA students do not have to commit to a contract with one employer only. They are allowed the freedom to move companies during training. CPA students can also put past relevant work experience towards training requirements. A particularly strong advantage with a CPA qualification is that training doesn’t stop at the point of qualification. As the first accountancy body to introduce a mandatory regime of Continuing Professional Education, the Institute ensures that all CPAs have the opportunity to remain at the leading edge, throughout their careers, by availing of relevant continuous development.
“As advisers to business, CPAs are at the heart of the economy and will be at the forefront in driving economic recovery in the years ahead. The CPA qualification is a passport to a challenging and rewarding professional career”, adds Shaw.
To register as a CPA student you must first register with the Institute directly. You can then chose from the network of CPA accredited colleges across the country.
For further information check out www.studycpa.ie, speak to Ciara Murphy on 01- 4251000 or find us on www.facebook.com/CPAIreland
Ends
Sarah Bird, a leading practitioner of Energy Psychology recently spoke at the CPA Young Professional Development Days on the topic of Stress Management.
Sarah uses Energy Psychology interventions to work with the body’s natural energies, shifting the chemical patterns in the brain that maintain unwanted habits, inappropriate emotional responses and self-limiting ways of thinking.
Below is the first of two podcasts which deal with Stress Management. To listen click the link below.
Sarah Bird One - Keep Your Head To Stay Ahead