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.
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.”
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.”
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.”
For more information on any of the above topics contact the following Partners and Senior Management Team:
David Culhane firstname.lastname@example.org
Paul Nestor email@example.com
Denis Moloney firstname.lastname@example.org
Elsbeth Kennedy email@example.com
Donal Hanrahan firstname.lastname@example.org