Back to Uni- Two accountancy & finance students share their thoughts.

It’s September which can only mean one thing- the new beginning of another university year. The dust (sand) from the summer has settled, course books have been purchased and people have been reacquainted through the usual fresher's weeks antics.

For this week’s blog we thought we would talk to two budding future accountants, Ciaran & Jessica, to get their perspective on their subject choices and international career prospects.

Jessica has just started her 2^nd year as an accountancy and finance student, whilst Ciaran is about to embark on his final year at university. So how do their views differ?
 

What made you want to choose to study accountancy & finance?

Jessica: I studied Accounting in 5th year at school and I found it really interesting, so it was a no-brainer when choosing what to study at university.

Ciaran: I didn’t really know what I wanted to do to begin with, I just knew accountancy & finance was a solid investment as a subject with a clear career path.

Did international opportunities in the future impact your university or subject choice?

Jessica: International opportunities are easily available and regularly suggested at university, so I am glad that I have the option to go abroad if I wish to do so in the future. However, this didn't have a great influence on my decision on where I chose to study.

Ciaran: My university has a lot of international ties so that did definitely impact my choice. When I chose accountancy & finance I did so knowing that it was a universal subject that could be very useful for a career at home or abroad.

Which country would you most like to work in and why?

Jessica: I would love to work in London and to experience the fast-paced life of an accountant living in the City. I've been down to visit a few friends there already and love the place!

Ciaran: Most of the people I know who’ve left to go abroad have recommended Australia or New Zealand, so I’d probably go out there to travel for a year after I’ve finished with my degree, then see what I think.

 

Would you like to specialise in any particular sector and why?

Jessica: Luckily I'm only starting second year so have plenty of time to still decide what I want to specialise in.

Ciaran: I’m doing my dissertation in Corporate Financing the areas it covers really interest me, so hopefully I'll be able to find a job in that field after I graduate/become qualified.

What companies/company would you like to work for and why?

 Jessica: I would love to work for one of the Big 4 because they have offices all over the world allowing for lots of travelling opportunities. They seem like great companies to work for with a big variety of people from different backgrounds.

Ciaran: I’m quite keen to run my own business one day, but before that I would love to get the chance to work for one of top ten firms and learn from some the best. My best mate works for Mazars UK and is really enjoying it there.

Do you know any other accountants that have been overseas and if so, what was their experience?

 Jessica: Yes, I know someone who travelled to Italy and lived there for two years while working as an accountant. He had a great time as he was able to learn some Italian and loved the culture there.

Ciaran: Most accountants that I know tend to stay in the UK but after the whole Brexit result people have started to consider other options.

What do you think would be the biggest challenge in an international move?

Jessica: I think the biggest challenge would be overcoming an language barriers or trying to fit in to the local culture.

Ciaran: Biggest challenge would be leaving friends and family behind. It’s easier these days with Skype and WhatsApp but it could still be tough when you need support.

What would be the most exciting thing about an international move?

Jessica: For me, the most exciting thing would be making connections and becoming friends with lots of people in a different country. Also being able to possibly speak a different language and communicate with the locals would be an amazing skill to pick up as you work.

Ciaran: Getting to test yourself in a different environment and that buzz of arriving somewhere new, where you don’t know anyone. I would say I'm quite confident so would revel in the opportunity to move abroad.

From all of us here at Think Global Recruitment we would like to wish Ciaran and Jessica the best of luck with the year ahead, we know they'll do great!

 

The Recruitment Industry takes the Brexit debate head on!

The recruitment industry is worth a valued £26bn a year to the UK economy. With the upcoming European referendum, businesses have been trying to constructively contribute to the debate and give analysis of what the impact might be. Reports from within the recruitment sector have been mixed, some worried about a potential skills shortage with others adopting a more relaxed approach.

The Association of Professional Staffing Companies (APSCo) has been representing professional recruiters since 1999.  APSCo has become a trusted badge of quality within the sector, with an increasingly international profile. For many years its trade delegations have supported the global growth of its member organisations. With the upcoming referendum British membership of the EU, APSCO produced a report on the issue to help inform its members.

Findings from APSCo Report (2016):

·     Two APSCo surveys, in the summer of 2015 and in February 2016, found that support for remaining in the EU had significantly dropped from 80% to 59%, suggesting a growing unease with the status quo

·     For recruitment firms, social and employment policy is one of the most controversial areas of EU competence. Agency Workers Regulations (AWR) and the derived Temporary Agency Workers Directive is viewed as inappropriate European legislation for many professions with ‘no corresponding positive benefits for the independent professionals placed’.

·     From a recruitment standpoint, the Services Directive is the most important concession from the Prime Minister’s renegotiations with the EU, allowing UK firms to get full access to the EU services market. The Services Directive would add 1.8% to overall EU GDP.

·     Any provisions for leaving the EU should be drawn up in consultation with the private sector to ensure that the UK is not left at a disadvantage compared to EU states in terms of competitiveness

APSCo Scottish Forum Debate

APSCo’s Scottish Forum made its own personal contribution to the issue by bringing the debate to their Glasgow meeting, hosting three prominent speakers: John MacLeod (ICAS), John Edwards (Scotland Stronger In Europe) and Iain McGill (business owner). The debate, chaired by Abigail Stevens, Managing Director of Think Global Recruitment, allowed three perspectives: neutral, for and against, with respective proponents providing their own analysis on the issue concluding with questions from APSCo members.

John MacLeod, Partner at Mazars UK, first spoke about ICAS’s official report and how their assessment concludes that rather than a factual decision, people will be heavily influenced by perceptions of subjective issues such as immigration, fairness and national interests. ICAS’s objective report gave an independent review of all of the key figures at play and can be read here. He stated that his job, as a neutral contributor, was sometimes the most difficult ensuring impartiality in all of the assessments.

With neutrality set aside, it then came time for the big debate. As people say that they want to hear the facts, without transcribing the whole debate, and to bypass the hyperbolic statements we have summarised some of the main points.

Four key points that can be concluded from the debate:

-      Three territories have left the EU or European Economic Community

Two territories, Greenland and Algeria, left the European Union’s predecessor, the EEC. The Caribbean Island of Saint Barthélémy withdrew from the European Union in 2012 and instead joined the Overseas Countries and Territories List.

-      Whatever the outcome we will have terms settled by 2018

Under Article 50 of the EU’s Lisbon Treaty, the UK will have two years to negotiate an exit, during which time its future relationship with the EU will have to be agreed. The UK would continue under the European Union until that time and by 2019 there will be some degree of certainty as to its position within the continent.

-      If the UK votes to leave, unelected European officials will still retain some power

The European Court of Human Rights will still have an ability to overturn the UK High Courts on social and employment issues as the UK will remain signed up to the European Convention of Human Rights. However, the unelected European Commission (Europe’s governmental cabinet) would lose its authority to create legislation.

-      It’s impossible to know the economic impact of an exit

Although this might not have a numerical weighting attached, it actually has more value than any of the campaign statistics. Since most of the economic arguments are based around future trade negotiations it would be impossible to determine what the economic situation post-exit would look like. There was mutual agreement in the debate that it would rely on a fair amount of ‘crystal ball gazing’ with both sides using alternative figures and experts.

As expected from these debates, it managed to result in more questions than answers. The purpose of this blog was to highlight some of the key issues to the recruitment industry and help assist in answering some of the uncertainties around the referendum. We hope that you have found this article useful and would encourage additional reading on the subject.

APSCo, ICAS, Mazars UK and Think Global Recruitment would like to confirm their neutrality on the referendum issue. Iain McGill was speaking in a personal capacity and John Edwards was speaking on behalf of Scotland Stronger in Europe. We would like to thank all those that contributed to this article through their reports or arguments.