- Modernised Leaving Cert syllabus needed to encourage students to choose business & accounting at third level
- Chartered Accountants President meets UCC students and faculty in Cork
27 October 2022 – The President of Chartered Accountants Ireland has highlighted the mismatch between increasing demand for accountants in Irish businesses and the corresponding pipeline of new talent entering the profession. During a visit to Cork, Pat O’Neill addressed students in Cork University Business School (CUBS) at UCC and noted the critical skills shortage which could seriously impede Irish economic growth prospects. The majority of Irish accountants work in industry.
His remarks came as Chartered Accountants Ireland under the auspices of the Consultative Committee of Accountancy Bodies Ireland (CCAB-I) wrote again to the government to express its concerns about the situation.
CCAB-I praised third level accounting courses for keeping pace with the very significant changes in the accounting profession in the last 25 years. It highlighted however the degree to which Leaving Certificate Accounting is failing to sufficiently engage, encourage and enthuse students to choose accounting at third level.
Commenting Pat O’Neill, President of Chartered Accountants Ireland said,
“The current Leaving Certificate accounting syllabus was introduced 25 years ago and we have seen very significant changes in the accounting profession since. While third level accounting courses have kept pace with these changes, there is now a major misalignment between Leaving Certificate Accounting and the modern, real-world practice of accounting.
“It was a pleasure to speak to students today in CUBS. Business schools are playing a critical role in producing highly skilled graduates who will becomes the practitioners of the future. Accountants work at the coalface alongside SMEs all around this island. They helped businesses to keep the doors open during the pandemic, and this support will be every bit as crucial as we face into the ongoing economic turbulence.”
Accountants are included by the Department of Enterprise, Trade and Employment on its Critical Skills Occupations List, which highlights areas of employment where there is a shortage of qualifications, experience or skills required for the proper functioning of the economy.
Dr Michelle Carr, Senior Lecturer in Accounting, University College Cork said
“Being an accountant goes far beyond reporting. Accountants are agents of change and play a fundamental role in organisational leadership. For example, sustainability needs accountants to drive decision-making and accountability. This means that the skills for accountants in areas such as risk management and control, business analysis and decision support will become increasingly in demand as the sustainability agenda continues to gain traction.
“To meet this demand, it is imperative that Leaving Certificate students appreciate the societal need and industry demand for business graduates with accounting specializations. At the Business School in UCC, we focus on shaping responsible leaders for a sustainable future.”
This visit comes as Chartered Accountants Ireland confers almost 600 new members across the island, with 1 in 10 of these Cork-based accountants, who will be conferred in a ceremony in the city tonight.
Pat O’Neill said
“Chartered Accountants Ireland has a long, proud history of training accountants in Cork, and we are delighted that 1 in 10 of our autumn 2022 conferees is Cork-based. Through the Chartered Accountants Cork Society, our members are interwoven into the local business community, playing a significant role in growing the local economy and supporting business.
“We have seen great business growth recently in Cork with the announcement by GE Healthcare of a €30 million investment resulting in 140 new jobs, by Abbvie of a €60 million investment resulting in 70 jobs, both in Carrigtwohill, along with the launch by The Port of Cork Company of its new state-of-the-art Cork Container Terminal (CCT) in Ringaskiddy. There is much to be positive about.”
ENDS
About the Consultative Committee of Accountancy Bodies-Ireland (CCAB-I)
The Consultative Committee of Accountancy Bodies-Ireland is the representative committee for the main accountancy bodies in Ireland. It comprises Chartered Accountants Ireland, the Association of Chartered Certified Accountants, the Institute of Certified Public Accountants in Ireland, and the Chartered Institute of Management Accountants which combine to represent over 50,000 professional regulated accountants in Ireland.
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