Competition 'rife' among Irish accountancy bodies

News Article - 15 November 2007
Category: Business

Accountancy bodies in the Republic of Ireland are in competition to attract potential students to their training programmes, it has been suggested.

A report in the Irish Times claims that organisations are spending thousands on marketing, with the Institute of Chartered Accountants in Ireland (ICAI) now reverting to television advertising.

While this body, the largest of its type in the republic, has an ad spend of more than 220,000 euros (£157,000), the Chartered Institute of Management Accountants has boosted its advertising budget four-fold, according to the article.

Ronan O'Loughlin, ICAI director of communications and marketing, said the market has been strengthened because accountancy is being recognised as "a basic business qualification".

"The days when it was viewed as a career for bean counters is gone and there is intense competition between the various accountancy bodies for member firms and students," he told the Irish Times.

Last week, the ICAI welcomed comments by Charlie McCreevy, the internal market commissioner, about accountancy's contribution to the global economy and the creation of the single European market in particular.

Aidan Lambe, director of representation and technical policy at the ICAI, said Mr McCreevy's remarks address "a series of initiatives" currently taking place in the European accounting sector.

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