Leaders Insight - with Chris Lewis, CFO at

Celebrating International Day of Accounting with David Cameron, Vice President of the LCASS

International Day of Accounting is an annual celebration to commemorate the publication of Luca Pacioli's book on double-entry bookkeeping in 1494 which is the bedrock of modern day accounting. In the modern day, International Day of Accounting is about the appreciation of the crucial work Accountants do and the recognition of their importance for business longevity and success. This year, we caught up with David Cameron of EY's Restructuring Team and Vice Presidentof the Leeds Chartered Accountants Student Society (LCASS) to gather his advice for those in the early days of their accounting career and insights about all things ACA.Starting a Career in Accounting 1.What advice would you give to someone just starting their career in accounting?I would say the sooner you realise that all of the exams require a fair amount of work and can’t be blagged (no matter how easy you found A-levels or university), the better. ACA is tough but I think it is certainly passable for most people, as long as you put the work in. The next big piece of advice I would give is if you go into the initial mundane tasks, when you first start, with a positive can-do attitude, it goes such a long way. The people who go into tasks with that outlook often find they move onto much more interesting tasks, quickly. Finally, the last tip I’d give to anyone starting out in accountancy is start building your network straight away, not only will it benefit your career in the end when everyone climbs the ranks together, it is even more beneficial from a social point of view at the junior levels. People you meet at networking events will become your friends and just enhance your overall experience when you are starting out. 2.How can recent graduates make themselves stand out to potential employers?It sounds cliché but I think showing your personality in an interview and just being yourself is something people feel as though they shouldn’t do. I really believe that that’s by far the easiest way to stand out. The majority of applicants will also have a great CV, the way you will stand out is by the employer thinking that they will enjoy working with you every day. Picking an ACA Specialism 3.Can you share some insights on the different specialisms available whilst studying ACA?Audit and Assurance:Examining financial statements and processes to verify accuracy and provide confidence to stakeholders through regulatory compliance. Tax:Advice on tax planning, compliance or strategy, dependent on what department of tax you’re in. Transactions:This could be a role in Mergers & Acquisitions/Corporate Finance, Transaction Due Diligence or Restructuring. 4.How did you decide on your own specialism, and what influenced your choice?I work within the Restructuring service line and absolutely love it. I’d always had a big interest in how businesses work operationally, and Restructuring allows me to assist businesses through times of distress with the hope that we can help to provide a solution to save/improve the business. Being in the service line I am in, it has allowed me to think outside the box and use problem solving at work as there is never the same solution for each business in a time of crisis, with solutions ranging from running an accelerated sale process of the business to possibly refinancing its existing debt. What the ACA Has to Offer5.What are the key benefits of pursuing the ACA qualification?First and foremost, the comprehensive skillset you acquire through completion of the ACA qualification shouldn’t be overlooked as it allows you to apply knowledge you have learnt from topics/exams usually unrelated to your usual job role to situations where it is required or even personal situations. I believe that the practical work experience you gain (at least 450 days of practical work experience) whilst completing your ACA enables you to improve your technical skills at a far quicker rate as you are utilising knowledge you have learnt at work on a daily basis, to better your understanding of the technical aspects, something which you don’t get to do at university or school. I would say the largest benefit is realistically the career flexibility and opportunities it allows you to have access to. As mentioned above, there are so many different avenues that you can go down through having an ACA qualification. If you don’t like one role, you can quite easily try something different. 6.How does the ACA prepare accountants for the challenges both inside and outside of the profession?As touched on above, the comprehensive knowledge gained from an ACA qualification is fantastic and can be applied to so many different scenarios outside of an accountancy role, such as personal tax planning or even the strong financial acumen gained to assist with running your own business. ACA also of course reiterates the importance of ethical behaviour and integrity throughout your studying period which helps instil such traits into students. Learnings from this will help students make correct decisions at work or even in their own personal life when faced with difficult choices. Personal Journey into Accountancy 7.Can you tell us about your journey into accountancy and what inspired you to choose this career?I joined the EY Leeds Restructuring team back in 2020 via the school leaver programme. I probably got unlucky with the year I joined given we were in the midst of the pandemic, however, what I was certain of even back then was no matter what, I still just wanted to get into work rather than continue full time education. I was keen on the potential qualifications I would come out of university with; however, I knew that I had always much preferred working throughout school than the education side of things. I was drawn to the Restructuring apprenticeship due to the element of problem solving involved and the opportunity to leverage commercial skills. Admittedly, I wasn’t overjoyed about the prospect of 15 ACA exams, however, I knew the end goal was worth it and provided some incentive. Four years later and I have completed my ACA and my apprenticeship. I’d recommend this path to many, for the experience and level of qualification I’ve been able to obtain by such a young age, coupled with the opportunity to meet so many people that will be mates for life. 8.Looking back, is there anything you would have done differently in your career path?Nothing I would change that’s in my control. It would’ve been ideal to have joined at a time outside of the pandemic as it did effect the social side of things for the first year or so. To find out more about the ACA click here.Looking for your next career move in finance or accountancy? At Sharp Consultancy, our expertise lies in matching your potential with the perfect temporary, interim, or permanent position. With a well-established presence in Leeds and Sheffield, our seasoned team of consultants extends their services across Yorkshire and beyond. Don't wait for opportunity to knock, reach out to us TODAYand let's chart your career path together.

Read article

Welcome to "Leaders Insight” the first in an insightful series that delves into the captivating professional lives of these Senior level professionals and showcase their multifaceted expertise to inspire the next generation of CFO’s.

We will delve into the stories of CFO’s from various industries and walks of life, shedding light on some of the challenges they have faced on their journey to becoming a CFO, how they feel the role might change over the next decade, what key skills and attributes the next generation of CFO’s will need and how future technology might impact the role of the CFO.

This first instalment is with Chris Lewis at Endless LLP. Chris is big 4 trained and has a wealth of experience at listed and private equity backed businesses. Chris started at Endless LLP in 2015 as Financial Controller and was promoted to the position of CFO in 2019. More recently, Chris has been promoted to Partner in April of this year.

1.Which of your earlier roles played the biggest part in your career development to becoming a CFO?

I think there were two roles. The technical grounding and people skills that I developed whilst training to be an accountant at PwC remain invaluable. The training programmes offered by the big 4 / top 10 are unrivalled in my view. Secondly, my time at Priory Group was a much more commercial role with a strong P&L focus – I don’t think I looked at a balance sheet in four years. I also reported into the Group Board monthly at a relatively young age. There was no hiding place and it really helped to develop my skillset.

2.What is the one thing you know now that you wish you knew as a newly qualified Accountant?

That it is acceptable to say that you don’t know the answer right now, but you will come back with the right answer shortly. Don’t pretend to know everything – nobody can.

3.How important to you was a mentor / mentorship in your career progression?

So important. You should never underestimate the value of somebody who is willing to sacrifice their own time to help you develop and progress in your career. My mentor at PwC was technically exceptional but, more importantly, experienced, and very wise. It helped a lot to have that sounding board and I try to offer that to my team now.

4.The role of a CFO has changed over the last decade. What further evolution do you see in the role of the CFO over the next 5 to 10 years?

The role is always evolving. I think the next 5-10 years will bring about two challenges. One of those will be people – employee expectation of employer will change dramatically in my view and helping a business to manage that will be crucial to the success of any CFO. The second challenge will be technology. Tech Stacks, Data Lakes/Warehouses and AI (amongst many other things) will play a huge part in the role of the CFO in the next decade. Today’s CFO is facing up to a generational shift in how the finance function serves the wider needs of the business.

5.What new key skills or attributes do you think the next generation of CFO’s are going to need to develop?

Exceptional IT literacy will become a pre-requisite in my view. My generation talks a good game but proficiency in Excel is just so 90’s. Certain core skills will always be important though – provision of quality MI and knowing the numbers inside out, carefully managing numerous stakeholder groups, being front and centre of the business, offering leadership and strategic guidance. They will always be key attributes and as night follows day, a trusted, versatile and highly competent CFO will always be critical to any Board.

6.Having become a CFO what do you “think of the view from the top” and how does it compare to what you thought it would be like?

It is the best place to be. Undoubtedly better than I anticipated. The CFO should be central to everything that is happening in the business and it means that no two days are the same. It’s fast paced, exciting, influential, and challenging all rolled into one.

7.What technologies will reshape the role of the CFO over the next few years?

See point 4. I suspect there are also technologies we’ve not yet heard of that will also reshape the role of the CFO over the next few years. The speed of technological progression is quite daunting. I used AI to create a bedtime story for my kids the other night…

8.What is the one single best piece of advice you would give to an aspiring future finance leader?

I’d say what I said when I was judging Young Accountant of the Year – never turn down an opportunity. For better or worse, it will provide you with valuable experience and, if nothing else, it’ll give you something to chat about whilst networking!

Sharp Consultancy specialises in the recruitment of temporary, interim and permanent finance professionals. With offices in Leeds and Sheffield our highly experienced team of consultants recruit for positions throughout Yorkshire and beyond. CONTACT UStoday and see how we can help.