65 Industry Accountants Attend CFO Forum

The CFO Forum hosted by BDO Limerick saw 65 industry accountants attend a workshop focusing on the significant financial reporting and legislative changes currently impacting business.

 

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Speaking at the event Partner Diarmuid Hendrick said, “Budget 2014, a greater focus on corporate governance, where to make investments and changes in financial law were scrutinised in depth by our team of experts across our Tax, Corporate Governance, Finance & Investment and Business Advisory departments. Aside from continued austerity companies are now faced with even greater compliance and administrative responsibilities.”

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Opening the CFO Forum David Culhane, Consultant in General Practice de-coded the significant changes planned for UK & Irish GAAP, as a result of the introduction of FRS 100 to 102. “The clock is literally ticking for all companies that apply current UK and Irish GAAP regardless of which accounting framework they intend to adopt going forward.  The current UK & Irish GAAP will cease to exist post 1 January 2015 so all entities should begin to plan for this change immediately.”

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Paul Nestor, Tax Partner addressed the changes impacting companies since Budget 2014 most specifically tax implications for the accountant in industry.

Denis Moloney, Managing Director of Wellesley Investments and Pensions looked at the medium term economic and investment outlook. He posed the question, “Is the Irish economy turning corners or going around in circles?”

Elsbeth Kennedy, Corporate Governance and Company Secretarial division advised delegates on the developments in the governance environment in Ireland particularly relating to the Companies Bill 2012.

Ending the CFO Forum Donal Hanrahan offered some career advice for attending accountants. “You must have a career plan but don’t be afraid to change the direction of that plan in order to reach your ultimate goal.”

BDO Limerick Partners and Senior Management: Elsbeth Kennedy, David Culhane, Paul Nestor and Denis Moloney

For more information on any of the above topics contact the following Partners and Senior Management Team:

David Culhane dculhane@bdo.ie

Paul Nestor pnestor@bdo.ie

Denis Moloney dmoloney@wellesley.ie

Elsbeth Kennedy ekennedy@bdo.ie

Donal Hanrahan dhanrahan@bdo.ie

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BDO is a firm of registered auditors and is registered to carry on audit work in Ireland and the UK by the Institute of Chartered Accountants in Ireland. Details about our audit registration can be viewed at www.auditregister.org.uk under reference number 223876. BDO is also authorised to carry on investment business in the Republic of Ireland by the Institute of Chartered Accountants in Ireland.