The view from Fiona MacNamara FCCA

I set up in practice in 2019 to improve my work-life balance and to be around more for my family. My professional focus has always been on audit quality and firms’ process and procedures, including ISQC1 and ISQM, and this led to my working with other auditors and accountants with training and technical advisory.

I see myself as being here to help. In my technical advisory work, I assist in training accountants and auditors at all levels. This gives me an opportunity to mentor young accountants, encouraging them to develop their skills while also learning from them. Auditing is becoming more niche and, increasingly, a standalone service. This creates opportunities for specialist firms, such as ours, to provide auditing services to the clients of other firms. By continuing to audit on a day-to-day basis, I feel I can be a better trainer by combining theory with the challenges of today’s audit environment.

I’ll be speaking at this year’s in-person ACCA Ireland conference in Dublin on 1 June and am very much looking forward to it. The conference gives us an opportunity to network, share knowledge, and experience and support each other in a way that is lost at online events. I am a member of the ACCA Ireland Practitioners’ network and participate in the local practitioners’ network in Kildare/West Dublin, and I would encourage all members to get involved in local network groups and ACCA panels. Sometimes it can be very isolating as a sole practitioner, and networking with others can be invaluable.

Auditing has multiple challenges but also opportunities coming down the line. The availability of staff, both trainees and suitably qualified, experienced staff, together with the increasing workload, is a significant problem. Added to this, we have revised Auditing Standards and increasing fraud risk. We need to work smarter and use technology to our advantage, but also to invest in our future accountants so they can develop to their full potential.

From next year, European Sustainability Reporting Standards will be compulsory, and my clients will expect me to offer this service. This is an exciting development for our practice, but also a massive recruitment tool for audit. Young trainees don’t want to just have a job, they want a cause; and offering sustainability as a service and a training opportunity will attract new talent to audit and to the practice.

In my downtime, I like to walk and read, or rather listen. After the day’s work or when driving home, I enjoy audio books and podcasts. During the Covid period I took up golf. I enjoy it even if I’m still not very good.

In terms of life lessons, I see great wisdom in something my gran would always say: if a job is worth doing, it’s worth doing right. Completing your work to a good standard will reduce stress, build your reputation, and preserve the reputation of the professional and ACCA.