Accountancy Ireland

The August/September 2024 issue of Accountancy Ireland is out now! This edition is dedicated to artificial intelligence (AI), and the ways in which this technology is shaping the way we live and work. For Chartered Accountants, AI holds the potential to support and elevate the profession, moving their work up the value chain by automating some of the repetitive tasks that occupy so much time today. There is much to be positive about, but AI is not without risk and challenge. Staying one step ahead of the curve means getting to grips with AI today and taking the lead on its development and adoption in the future. Already, Chartered Accountants are at the vanguard of developments in AI across business and practice. In this issue, we are bringing you just some of their stories, experiences, insights and advice. Thank you, as always, to all our contributors. Read the full issue on the Accountancy Ireland website: https://brnw.ch/21wLH9f #AI #ArtificialIntelligence #Finance #CharteredAccountants

"An investment in innovation pays the best interest." Ireland’s medium-sized businesses are more optimistic than their global peers but a more ambitious approach is needed to deliver their expectations, writes Patrick Dillon, Head of Deal Advisory with Grant Thornton Ireland. Read the full article on the Accountancy Ireland website: https://brnw.ch/21wM8VY #Innovation #Ambition #Resilience #Disruption #SME

"They bring some challenges, however." Revisions to International Standard on Auditing (Ireland) 600 will result in higher-quality group audits, but more work will be required to deliver this benefit, writes Noreen O Halloran’Halloran, Principle, Audit Quality and Professional Practice Department, KPMG Ireland. Read the full article on the Accountancy Ireland website: https://brnw.ch/21wM72Z #ISA #IAASA #ISA600 #Audit #GroupAudit #AuditStandards

“Small steps make a big difference, but it’s a marathon not a sprint. My advice is start now, get help, measure – and keep going." The CSRD has changed the sustainability outlook for SMEs reliant on business from larger entities in scope of the directive. Susan Rossney, Sustainability Advocacy Manager with Chartered Accountants Ireland, outlines what they can do now to keep ahead of the curve Read the full article on the Accountancy Ireland website: https://lnkd.in/eY5hKvyQ #CSRD #Sustainability #SupplyChains #SMEs

“I always had a desire to do well and to do something meaningful with my life." Rory Mulvaney FCA, founder and Managing Director of VANTRU, talks us through a multi-faceted career that has taken him from law to accountancy and on to entrepreneurship as the founder of his own corporate and compliance service firm. Read the full article on the Accountancy Ireland website: https://brnw.ch/21wM5cl #Accountancy #Entrepreneurship #AccountancyCareer #CharteredAccountant

"While the landscape presents its challenges, it also offers great opportunities. As always, the future holds promise and potential for those ready to adapt." As the global economy faces constrained growth, high inflation, and regulatory pressures, the food industry must adapt to rising costs, technological disruptions, and geopolitical volatility, says Brian MacSweeney, Audit Partner at KPMG. Read the full article on the Accountancy Ireland website: https://lnkd.in/epvzndxv #FoodIndustry #MacroEconomics #Disruption

"While Ireland’s economic history has been shaped by a persistent lack of private funds, understanding these historical and structural challenges is crucial in developing strategies to overcome them." A new report published by the Department of Enterprise, Trade and Employment could hold the key to unlocking crucial capital for scaling Irish companies, writes Sarah-Jane Larkin, Director General of the Irish Venture Capital & Private Equity Association. Read the full article on the Accountancy Ireland website: https://brnw.ch/21wLZEj #SMEs #Scalability #FDI #Economics #IrishEconomy

"We need human connection." In an era of digital surveillance, employees resort to performative tactics like "mouse shuffling." True productivity thrives on trust, communication, and effective people management—not monitoring, writes Moira Dunne, Founder of beproductive.ie. Read the full article on the Accountancy Ireland website: https://lnkd.in/ebgqu2ZM #MouseShuffling #Productivity #DigitalSurveillance #Monitoring #Trust

“Being a Chartered Accountant genuinely allows you to become a difference-maker.” As the new Chair of Chartered Accountants Ulster Society, Gillian Sadlier wants to demonstrate the many benefits a career in the profession can offer potential new entrants. Read the full article on the Accountancy Ireland website: https://brnw.ch/21wLWOt Chartered Accountants Ireland #CharteredAccountants #AccountancyCareer #Chartered #Accountant

"The raw numbers tell one story, but the underlying trends and their broader implications reveal much more about our economic landscape." Despite severe economic challenges, Northern Ireland has avoided the wave of corporate failures seen in England and Wales, though future risks remain uncertain, writes Gareth Latimer, Director at Grant Thornton (NI) LLP. Read the full article on the Accountancy Ireland website: https://lnkd.in/e5TjuagR #NorthernIreland #NIEconomy #Insolvency #Restructure #Moratorium