Michael Farrell | Partner
Consultancy, Audit/Accounts
Background
1994 -1997 - BA(HONS) Accounting & Finance at Dublin Business School, (Affiliated by Liverpool JohnMoores University), Second Class Honours First Division
1997 - 2001 - Joined Brenson Lawlor Chartered Accountants and Registered Auditors initially as a trainee accountant before being promoted to Audit Senior
Nov 2000 - Passed Final Admitting Examination
2001 - 2002 - Joined Arthur Andersen, Dublin as Audit Senior
July 2002 - Joined FPM as a consultant
May 2003 - Promoted to Manager in FPM
May 2004 - Promoted to Senior Consultant in FPM
May 2005 - Promoted to Senior Manager in FPM
Jan 2006 - Promoted to director with specific responsibility for the Dundalk Office
May 2008: Promoted to Associate Partner with specific responsibility for the Dundalk Office
Relevant Experience
Consultancy: - Advising Start-up and SME companies on growing and developing there businesses in terms of setting goals and targets
- Attending monthly management meetings with clients to review the company's financial performance against budget and against predetermined KPI's
- Participated in the delivery of PLATO Blackwater’s Advanced Financial Management Programme which involved one-to-one visits, workshop sessions and follow up visits.
- Facilitator and Mentor to SME’s engaged on Newry & Mourne Plato courses and also delivered training/mentoring on UCIT Programmes.
- Preparation of detailed business plans and financial projections for business expansion and bank loan application.
- Preparation of detailed business plans and appraisals for not for personal profit organisations.
- Implementation of various computerised accounting and management information systems, setting up of nominal ledger, design and implementation of month end procedures.
- Preparation of application forms for various government agencies to seek funding for specific projects.
- Preparation and delivery of training course to SME’s on a range of financial issues such as working capital management, profit improvement strategies, cross border tax issues, pricing and costing etc.
- Identifying potential grant aid for innovative projects which clients wish to develop.
- Detailed review of company’s overheads and calculation of overhead recovery rates for departments.
- Preparation of company recovery reports and presentation of same to the client’s bankers.
- Knowledge of Grants available on an All-Island basis.
- Preparation of company valuations.
- Successfully secured FAS ‘Train the Trainer’ certificate form NUI Maynooth
Audit & Accounts Preparation- Lead Relationship Manager for a range of clients.
- Planning, preparation, execution and completion of financial audits for statutory purposes.
- Audit Supervisor on a wide range of assignments such as:
- Manufacturing Companies
- Motor Dealerships and Garages
- Retail Companies
- Newsagents
- Pharmacy’s
- Haulage Companies
- Solicitors
- Various other types of businesses
- Reporting and liasing with group auditors, to ensure that all issues identified are communicated to them within the given deadline.
- Supervision of staff and reviewing their work to ensure that all tasks assigned to them are completed on a timely basis.
- Evaluating and testing organisations key operations and controls and recommending improvements.
- Compilation of annual and other financial statements for indigenous owner – managed businesses and a variety of large professional enterprises.
- Preparation of monthly and quarterly management accounts and with associated variance and analytical review to complement the existing management information system.
Taxation:
- Calculation and submission of Corporation Tax notes and computations.
- Calculation and submission of directors, sole traders and partnerships income tax submissions.
- Calculation of capital gains tax computations.
- Reporting to group auditor on taxation issues.
- Review of financial records prior to revenue audit, attendance at revenue audit, dealing with various matters arising and negotiation of final settlement with Revenue Officers.
Other: - Secondment to fulfil the role of a financial controller which involved full responsibility for the entire finance function of the company.
- Preparation and submission of abridged financial statements together with annual returns for filing to the Companies Registration Office.
- Specific knowledge of software applications such as Microsoft Excel, Microsoft Word, Microsoft Powerpoint, Sage Taxsoft, Sage Line 50, Sage Accounts Production, Sage Payroll, Sage Winforecast Access Accounts, M.Y.O.B., Finax Professional and TAS Books.
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