INSTITUTE
Institute News

Institute News

Response to Budget 2024
CPA Ireland has broadly welcomed Budget 2024 and CPA Ireland President Mark Gargan described it as a pro-SME Budget which includes positive steps to support SMEs, which are the backbone of the Irish economy.

Commenting on the announcement of Budget 2024 Mark Gargan welcomed the measures that will enhance the abilities to access sources of finance, such as the extension of the EIIS. Startups with high potential to grow, will benefit from the new scheme to encourage so called angel investors.

The extension of the standard rate cut off point to €42,000 is another helpful measure that will assist Ireland’s squeezed middle, as will adjustments to the rates and bands of USC.

Concluding, Mark Gargan said “Ireland’s economy is reliant on the strength of our SMEs, who are more vulnerable to inflationary pressures than larger businesses. Today’s budget offers new supports, but it is essential that these are continuously monitored and enhanced if and when required in the months ahead.”

CPA 2024 Graduate Programme
One of the services we offer at CPA Ireland is a Trainee Placement Service (TPS), which assists candidates in securing trainee accountant positions with relevant employers in Ireland.

The Trainee Placement Service is a completely free recruitment service for all employers. Currently we are seeking employers with open roles for 2024 which would suit accounting students currently in their final year of college studies. If you have, or are planning on taking on a Trainee next year please let us know so we can add your company to our 2024 Graduate Programme.

CPA Ireland extends Mutal Recognition Agreement with the South African Institute of Professional Accountants (SAIPA)
The Institute of Certified Public Accountants in Ireland (CPA Ireland) and the South African Institute of Professional Accountants (SAIPA) entered into a mutual recognition agreement (MRA) in November 2015.

This agreement was extended until 31 December 2024 at the IFAC Council meeting in Vienna. In November 2023, the MRA was signed for CPA Ireland by Mark Gargan, President and Eamonn Siggins, Chief Executive, and for SAIPA by Radha Gouri Govender, Chairperson, SAIPA and Shahied Daniels, Chief Executive, SAIPA.

Eamonn Siggins, Faith Ngwenya, Shahied Daniels, Mark Gargan, Asmaa Resmouki, and Radha Gouri Govender
Pictured at the signing: Back row L-R: Eamonn Siggins, Chief Executive Officer, CPA Ireland; Faith Ngwenya, Managing Director Centre of Future Excellence, SAIPA; Shahied Daniels, Chief Executive Officer, SAIPA. Front row: L-R: Mark Gargan, President of CPA Ireland; Asmaa Resmouki, President of IFAC; Radha Gouri Govender, Chairperson, SAIPA
The agreement offers qualified members of each body a pathway to become a member of the other body, and to enjoy the benefits which each organisation offers. The MRA extension builds on the strategic relationship between two leading accounting organisations and gives members the opportunity to qualify for a second designation.

Under the agreement, members in good standing of either body will be considered for membership by the other body. Members wishing to practice public accounting will be required to meet the specific regulatory and legal requirements in each jurisdiction.

CPA is one of the best-known international accounting designations and Irish professional qualifications are held in high regard worldwide. By becoming a CPA, you are joining a global network.

CPA Ireland launches sample financial statements
CPA Ireland have issued updated Sample Financial Statements to assist members and firms navigate disclosure and reporting requirements for their clients.

The samples are also a useful tool to support the ongoing training of staff and the production of high-quality financial statements.

The updated samples are for the following:

A micro company applying FRS 105

A small company applying FRS 102 Section1A

For details please click here. CPA Ireland – Sample Financial Statements Irish GAAP | CPA Ireland

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Can you help us reignite the accountancy profession?
In the past few years there has been a steady decline globally in the number of the younger generation entering the accountancy profession. At CPA Ireland we want your help to change the perception of an Accountant and raise awareness of the diverse career opportunities available both nationally and internationally.

Our current campaign message is to promote a visionary career in that you can go anywhere as a CPA Accountant. To solidify this message and make ourselves more relatable, we want to show prospective students where they can go by showcasing the career paths of our members.

If you think your career path could help us influence the younger generation, please email Claire at cryan@cpaireland.ie

CPA Metaverse School of Innovation
Robotic process automation (RPA) is a rapidly growing field, and the demand for skilled RPA professionals is only going to increase in the years to come. However, teaching RPA can be challenging, as it requires learners to understand complex concepts and procedures. To meet this challenge, we have developed a programme using virtual reality.

In conjunction with our VR developers, Sia Partners, CPA Ireland Skillnet has created a highly engaging and fun way to help learners better understand the benefits, pitfalls and organisational applicability of an RPA process in a virtual world through VR headsets.

CPA Metaverse immersive learning
The interactive stations which leaners must navigate through:

  • Three scavenger hunts: working in teams the learners will search the School of Innovation for various objects which represent different aspects of the RPA solution. The leaners will have to work in teams – one person can pick up an object which will launch a card explaining what the object represents. To gather more information, they will need to work with someone who can hold the magnifying glass – by using both together the learner will get more information about the object. Once the learner places the objects they believe to be correct on the podiums they press a button to the side – the correct answers are highlighted in green and the incorrect ones in red. If there are any objects highlighted in red, they must be removed, and the correct ones sought.
  • Impact ranking: Place objects that represent different parts of the implementation process on podiums from least impactful to highest. As with the scavenger hunt when the learner picks up the object a card will appear in front of them with details of a particular impact i.e., “RPA can improve data quality and accuracy by reducing the risk of human error and standardising data entry processes”. In addition to the correct answers there will be a number of incorrect answers. Once the learner places the objects, they believe to be correct on the podiums they press a button to the side – the correct answers are highlighted in green and the incorrect ones in red.
  • The data tracks: There are three data tracks, large, medium and small for both manual and RPA processing. The learner has the opportunity to move around the innovation hub on a track to help them feel the difference between an RPA data set which is fast and straight forward and a manual data set which is slower and less straight forward.
  • The process builder: At this station the learners will be asked to combine what they have learned during the three scavenger hunts and complete a full RPA implementation plan by once again arranging the correct objects on the three podiums.
  • Data visualisation: This is a dynamic data solution with a simple Bar Graph, object Visualizations, Light animations, Interactions with Data (& Data Views), Capability to dig into meta data and the Simple Filtering of Data. This station will give the learner an exceptional viewpoint of how data works.
  • Case study/elevator pitch: working as a team the learners will have a few minutes at the end of the VR session to review a case study for an organisation that is looking into applying an RPA process. They will work together to put a plan in place for how best to adopt RPA. Once they have that finalised, they will pick up a virtual phone and call the trainer/administrator in the real world to give their pitch.

What others have said:

“I really valued the experience of being in the CPA Metaverse Innovation Academy. The Metaverse Academy is a unique and engaging way of learning that can make challenging training more enjoyable for the learner.”
Nick McCafferty, Development Advisor, Skillnet Ireland

“Thank you for hosting the Virtual reality training session on Friday last. The experience was novel and fascinating and a valuable insight into the future of knowledge transfer. I thoroughly enjoyed the session and found the course content more interesting when delivered through this medium.”
Ken Heade, CPA

Take the opportunity to discover virtual reality.

Book Now!

New CPA Ireland Marketing Campaign
Accountancy is Dull graphic banner
The new CPA Ireland campaign “Switch your Perspective, Change your Future” is live on our website, digital adverts and was rolled out across career fairs over the last month. The campaign aims to defy the perceived perceptions of a career in accounting by using profiles from some of our members to showcase the breadth of paths you can take with your career as a CPA Accountant.

Thank you to our members who provided profiles and if it is something you would like to get involved in please feel free to reach out.

CPA Ireland Bye Law Amendments
Updated changes to Bye Law 7, 14 and 15 will become effective from the 1st January 2024.

These updated changes can be found below:

Membership Changes:
Resignations
Member ID
First Name
Last Name
Date
006646
Viviane
Moriarty
25/01/2022
000748
Sean D.
Luskin
04/07/2023
025899
Reema
Miniyar
10/07/2023
015372
Noeleen
Mulcahy
11/07/2023
030194
Supriya
Kulkarni
13/07/2023
005349
Annette
Rafferty-Reilly
24/07/2023
Deaths
Member ID
First Name
Last Name
Date
002291
Neil C.
Taylor
16/08/2023
000114
Ray
Byrne
19/08/2023
Removals
Member ID
First Name
Last Name
Date
018794
Lisa
Boyle
10/07/2023
004624
Janice
Nolan
10/07/2023
007629
Siobhan
Lawless
10/07/2023
002434
Patricia M.
Long
10/07/2023
031026
Sitaram
Dangi
10/07/2023
007260
Catherine
Murphy
10/07/2023
005593
Timothy
Donovan
10/07/2023
008134
Anthony
Davill
10/07/2023
036119
Arun
Kundra
10/07/2023
029563
Wijesinghe Arachchige Sunil
Bandara
10/07/2023
029211
Mandeep
Singh
10/07/2023
022654
Christopher Madalitso
Ziyaya
10/07/2023
006836
Tan Beong
Chu
10/07/2023
001701
Frank
Kelly
10/07/2023
001668
Cornelius
Horgan
10/07/2023
005417
Yeok Tee
Teo
10/07/2023
026228
Bilal
Saleem
10/07/2023
026226
Askia Samuel
Ogieh
10/07/2023
025912
Chris
Luthuli
10/07/2023
025901
Anil Kumar
Agarwal
10/07/2023
024716
Shuaibu Sanda
Ibrahim
10/07/2023
027407
Mohamed Ashfath
Abdul Hameed
10/07/2023
026804
Lukhbir
Singh
10/07/2023
025083
Rahman Ayodeji
Bello
10/07/2023
029220
Sunday Adeyemi
Ojelabi
10/07/2023
028778
Olayiwola Bolarinwa
Olaoti
10/07/2023
029229
Zeeshan
Danish
10/07/2023
030176
Angela Nkechi
Duru
10/07/2023
029562
Vijendra
Choudhary
10/07/2023
029548
Ankit
Dahanukar
10/07/2023
030179
Garima
Rajan
10/07/2023
015565
Joseph
Magawa
10/07/2023
021424
Musa Muhammad
Dandikko
10/07/2023
020153
Waqas
Ahmed
10/07/2023
005163
Janet
McKeon
10/07/2023
002633
Mary
O’Connor
10/07/2023
033113
Surendar
Vigneshwaran
10/07/2023
033755
Darshan
Parikh
10/07/2023
035731
Sourabh
Joshi
10/07/2023