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Sunday, 14th April 2024
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Growth triggers hiring at KPMG and Deloitte Back  
Two of the ‘Big 4’ accountancy firms, Deloitte and KPMG, are set to go on a recruitment offensive as they look to hire people at all levels across the country on FINANCEjobs.ie. The accounting industry is continuing to grow at breakneck speed as the big firms hire new staff in an effort to keep up with increasing demand from Irish businesses.
Deloitte and KPMG have set themselves up to continue their impressive growth by expanding their staff numbers on Ireland’s leading financial services recruitment website, FINANCEjobs.ie.
Both of these firms are currently looking to fill numerous positions as they look to keep up with the astonishing rate of growth of their respective businesses. KPMG grew its all-Ireland accounting business by an impressive 27.4 per cent between 2006 and 2007, while Deloitte also grew its business, with recorded growth of 15.3 per cent, according to the Finance Accountancy Survey 2007.

Pat Cullen, managing partner of Deloitte explained the reasons behind the incredible rate of growth being seen, not just at Deloitte and KPMG, but across the board at big accounting firms. ‘The multi-disciplinary nature of the accounting firms places the industry in an ideal position to act as an independent advisor across a whole range of areas,’ he said.

In order to keep up with this growth, KPMG is planning on hiring the most people out of the top 20 firms in 2007/2008. The all-Ireland accountants expects to grow its staff by 526 employees, including 150 professionals and 346 trainees. In addition to hiring trainees, KPMG is also looking to fill a number of more senior positions, as can be seen in the table.

Deloitte is also looking to grow its workforce to meet the demand from new business. It aims to hire 400 new staff in the coming 12 months. As is the case with KPMG, Deloitte are also looking to hire a significant number of non professional graduates and trainees (40 and 230 respectively), but are also currently looking for people in more skilled positions, as can be seen in the table.
In addition to the excellent opportunities on offer at Deloitte, the firm also offers its non-partner staff excellent bonuses, with bonuses reaching as much as 20 per cent of salaries in the next 12 months, according to the Finance Accountancy Survey 2007.

Accountancy is one of the most dynamic industries for growth in the financial services sector, with the top 20 firms reporting an average growth of almost 20 per cent last year. To meet the ever growing demand that this increase in business is creating, the top 20 firms are looking to hire a further 2,260 staff in the coming year, swelling staff numbers beyond 10,000.

Predicted demand
In fact, this demand is probably even greater, given the industry’s tradition of exceeding its predicted demand for new staff. In 2006, the top accountancy firms hired 2,082 new staff, although they anticipated hiring only 1,771 new employees, outperforming their own estimates by 17.5 per cent.

Green card
One possible reason for growing optimism in respect of recruitment in the industry is the announcement of the Green Card Scheme. Unveiled by Minister for Trade, Enterprise and Employment, Micheal Martin on January 24th, 2007, The Green Card Permit Scheme was passed following consultation with the financial services industry, where the skills shortage remains problematic.

Cullen feels that the Scheme will help to widen the net during the recruitment process.’ [The scheme] will make some contribution as it facilitates the process of recruiting staff from outside the EU,’ he said.

‘The government has introduced a very sensible scheme especially for highly paid, highly talented internationally mobile specialists. Recruiting the required number of qualified professionals continues to challenge the industry,’ said Terence O’Rourke.

With the industry ever more competitive in the race to attract the top talent, the accountancy bodies are also upping the ante as they attempt to woo future accountants. With the demand for accountancy qualifications at an all time high, competition is fierce among the nine recognised professional accountancy bodies. These organisations represent chartered, certified, management, and public accountants as well as accounting technicians.

In total, all nine bodies boast 24,000 members, according to the latest figures. Among the firms, the Institute of Chartered Accountants in the Republic ( ICAI) is the most popular with 10,400 members. Outside of membership figures there are also an impressive 22,000 students studying to become members.

With such large figures of students choosing between the nine organisations, the ICAI has launched a television advertising campaign for the first time in its history. It has a budget of €220,000, while the Chartered Institute of Management Accountants (CIMA) has recently quadrupled its advertising budget to €200,000.

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