Consolidation and Transformation in Accounting and Finance
In the accounting and finance industry, consolidation continues as a prevalent trend, with firms aiming to expand by acquiring local and specialised competitors. There's also a noticeable shift towards the contracting space, with major industries recognising the advantages of contract accounting professionals over full-time positions. We can expect 600 corporate insolvencies this year, a relatively low number, and overall a positive for the economy, however, commercial construction may have some headwinds.
Growing Demand for Qualified ACA/ACCA Professionals
In numerous industries and companies there's a growing demand for qualified ACA/ACCA professionals with at least 2 years of post-qualification experience. These qualifications are valuable and in short supply, allowing candidates to choose roles aligned with their career goals. Consequently, employers are making efforts to retain staff, leading to a supply and demand challenge in the job market.
Some companies may find candidate requirements high, prompting them to explore alternative avenues of experience or reconsider salary ranges to align with market demands. Notably, companies are turning to newly qualified Big 4 and Top 10 accountants and offering a minimum of €65k+ plus benefits, and this figure is likely to rise with increased experience.
Other roles in the accountancy space including CFO's, Finance Directors, Senior International Accountants and FP&A Managers, are also in high demand.
Industries such as Technology, Pharmaceuticals, Fast-Moving Consumer Goods (FMCG), and Semi-State Public Bodies are actively expanding their temporary workforce via professional contractors. These sectors are attractive to candidates, with many expressing interest in entering them through contracting arrangements. The benefits of contracting aren't exclusive to large corporations; companies of all sizes experience the advantages of a swift and streamlined hiring process to meet temporary requirements without committing to permanent hires.
Top Qualifications in Accounting and Finance
In the field of accounting and finance, professionals pursue various qualifications to enhance their expertise. These qualifications include:
Associate Chartered Accountant (ACA)
Association of Chartered Certified Accountants (ACCA)
Chartered Institute of Management Accountants (CIMA)
Certified Public Accountant (CPA)
Institute of Accounting Technicians in Ireland (IATI)
Chartered Tax Adviser (CTA)
Irish Payroll Association (IPASS)
These qualifications are widely recognised and respected, each offering a unique focus on financial management and accounting. They also demonstrate technical competence and a commitment to continuous professional development.
Top Benefits of Working in Accounting and Finance
The accounting industry prioritises creating a work environment that values their team's well-being and professional growth.
The workplace benefits are designed with employees' needs in mind, offering a flexible hybrid work model that promotes work-life balance. Recognising the importance of financial planning, a comprehensive pension scheme is usually provided.
Employees stay ahead in their field with covered subscriptions to relevant resources, ensuring access to the latest industry insights. Health is a priority, and the healthcare package reflects that commitment. Performance bonuses are also offered to recognise and celebrate contributions.
Additionally, employees enjoy a generous annual leave of 25 days, allowing them to recharge and spend quality time with their loved ones.
In the accounting industry, they believe that a supportive and rewarding workplace is the foundation for both personal and professional success.
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