The Association of Chartered Certified Accountants (ACCA) has said that professional bodies, employers and the education system must work collaboratively to support and deliver upon the Government’s ‘Ireland for Finance’ programme which has targeted 50,000 people in direct employment in International Financial Services (IFS) by 2025.

ACCA, who welcomed the Governments plans to grow employment within the sector by 14%*, made the call to business leaders and professional members who attended a visit by Minister Paschal Donohoe to officially open the professional bodies new offices in the International Financial Services Centre (IFSC) in Dublin.Over 2,000 of ACCA’s 12,000 Irish members work in the financial services sector, and it has said that its move to the IFSC will enhance the work of those members that support an increasingly influential industry.Commenting at the opening of the new offices, Head of ACCA Ireland, Caitriona Allis, said “ACCA is committed to playing a key role in providing the expertise required to support the Governments plans to grow employment within the financial services sector to 50,000 by 2025. As a professional body it is incumbent on us and other organisations to work with employers and the education sector across Ireland to adapt to a rapidly changing financial and economic environment which will see the ever–increasing use of AI and machine learning in the workplace shaping the future of both finance teams and financial services roles.” Caitriona Allis added, “Global research conducted by ACCA ‘Machine learning: more science than fiction’highlighted that 30% of businesses in Ireland are having initial discussions or are exploring concepts relating to machine learning, compared to 24% globally. We are ahead of the game inunderstanding the value, benefits and need to implement these policies but the main barrier remains the lack of skilled staff to lead the adoption across Irish organisations. To achieve this, we need an industry taskforce that will build the skillset required to position Ireland at the forefront of global technology, so instrumental within the financial services sector and the wider economy. “ACCA has adapted and evolved its qualification programme to lead the change in finance professionals’ skillset, supporting the technology and digital needs of employers and are committed to working with the government and all stakeholder groups to achieve targeted growth goals.” Commenting at ACCA’s office opening, Minister for Finance & Public Expenditure and Reform Paschal Donohoe, said “I welcome ACCA’s commitment to support the opportunities that financial services present to our economy and the government’s approach to growing employment within the sector. The work of ACCA and other professional bodies in developing the skillset and talent required to continue to build Ireland’s global reputation within International Financial Services and increase FDI, cannot be underestimated. With its new offices ideally located within the IFSC, ACCA’s credentials and expertise will enhance the financial services hub in Dublin and this is good news for its members and for the sector as a whole.”