Accountants will play a critical part in Ireland’s future recovery but they must become flexible and adaptable to survive.
This is according to Geoff Meagher, president of the Institute of Certified Public Accountants (CPA ) who was speaking at the institute’s annual conferring ceremony at the Helix in Dublin City University this week.
Addressing the 167 new CPA graduates Mr Meagher said: “This past year has brought incredible change and challenge for everyone. Rather than turning a corner 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, accurate, 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 it. Changing standards and regulations will surely emerge from the financial crisis, so you must be able to adapt to these changes, be flexible and agile, to grow and survive.”
Meagher also outlined the need for 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,” he said. “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.”
