Edition 03 April 2007

The annual CIMA graduation ceremony was held on Friday 20 April 2007 at the Royal College of Surgeons, Dublin 2.

47 passed Finalists and new members attended the evening with family and friends, hosted by the CIMA Ireland President, Mr Tom O’Connor.

Long-standing member, Mr Frank Guilfoyle FCMA, gave a speech outlining his extensive experience as a CIMA member.

Premier Recruitment, who sponsored the event, hosted a drinks reception in the Board Room after the ceremony. The evening was well received by all who attended.

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Network News Republic of Ireland edition

CIMA’s 2006 passed finalists graduate in style

Irish news

Pictured right, the 47 CIMA 2006 passed finalists and new members who graduated at the Royal College of Surgeons on 20 April.

Pictured above (left to right) Maura O’Hea, Premier Recruitment, Eamonn Quinn, Interim Director, CIMA Ireland and Francis Hanlon, World First TOPCIMA, May 2006.

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As well as being top CIMA students, Paul O’Flaherty, Ciaran Brannigan and Sonya Sinanan are all active in sport. From equestrian to hurling all three manage to pack busy careers, intensive studying and a passion for sport into an energetic lifestyle.

All three had outstanding results in the 2006 CIMA examinations. Paul received the Brendan Fitzgerald Award for having the best results in Ireland, Ciaran was joint fourth in the world in P08, Financial Analysis and Sonya was joint tenth in the world in PO4, Organisational Management and Information Systems.

Paul who lives in Navan, Co. Meath is originally from Tipperary which explains his passion for hurling. He is a senior management accountant with Roadstone and is based in the company’s Irish HQ in Saggart, Co. Dublin. He has been with Roadstone for five years and prior to joining the company worked with Leaf, the chewing gum manufacturers.

He graduated from Dublin City University with a BA in Business Studies. He chose DCU because of the broad range of subjects available in years one and two. This desire to have as broad a range of subjects to study also influenced his choice of CIMA for his post graduate studies. ‘CIMA was a better fit as I wanted a more active business course. I have found the CIMA qualification has benefited my day-to-day work, by providing me with the tools to rise to the various challenges that present themselves. The broad scope and strategic focus of the course require you to look at the bigger picture in a given situation.’

Paul initially studied for the CIMA examinations with the Dublin Business School. He switched to BPP for the TOPCIMA examination as the timetable suited his work situation better.

While his position with Roadstone keeps him busy, he does find time to do some amateur cycling, play a little golf and squeeze in some gym and swimming.

Ciaran Brannigan also manages to find time for sport alongside his job as a Financial Analyst with Ryanair. His sports are five-a-side football, running and he has competed in a few marathons. He has been with Ryanair for nine years moving from the reservations department to finance. A native of Dundalk he currently lives in Ranelagh. Graduating from Queens University in Economics, Social History and Politics, he chose CIMA ‘because it was more rounded than other financial management courses and had a full business perspective.’

Leading to his first examinations in 2005 Ciaran studied through BPP where he found the material very good. Last year he switched to home studying because of work commitments.

‘...the CIMA qualification has benefited my day-to-day work, by providing me with the tools to rise to the various challenges that present themselves.’ Paul O’Flaherty

Top CIMA students find time to work, study and play

Left to right, Sonya Sinanan, Paul O’Flaherty

and Ciaran Brannigan who received awards for their

achievements in their exams.

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Look out for your opportunity to nominate for the 2007 awards at www.cimaglobal.com/awards soon

His ambition is to take on more responsibility in a commercial role and is confident that his experience with CIMA has CIMA is ‘...more rounded than other financial

management courses and has a full business perspective.’ Ciaran Brannigan

‘The CIMA qualification suits the way I think.’ Sonya Sinanan

helped him lay the groundwork for his future career.

When Sonya Sinanan learned that she had come tenth in the world in the CIMA Organisational Management and Information Systems examination, she professed to being ‘gob smacked’. Originally from Dundrum in Dublin, Sonya is an assistant accountant with J. Donohoe Beverages Ltd., based in Enniscorthy, for three and a half years. She is also responsible for the wine import/export area of the business. Prior to joining Donohoes she was head of administration at CKR FM.

A qualified teacher, she is a Physiology graduate from Trinity who held a teaching post in Dublin. Since joining Donohoes she has also completed the Intermediate and Advanced Certificate at the Wine and Spirits Education Trust.

Some years ago, while looking to move on to another qualification, she was advised by John Kickham, joint CEO at Donohoes, to look at the CIMA qualification. ‘He said that it would suit the way I think,’ she said. She describes her style as

analytical, based on her scientific background.

She studied for her CIMA examinations through BPP which she says is very exam focused and she ‘could not speak highly enough of it.’

Throughout all her studies and career changes Sonya has maintained her abiding passion for horses. She has been riding horses from the time she

could sit up and began exercising racing horses at the age of fifteen. She gave up competing in one day events in order to study but has a yearling who should be old enough to event by the time Sonya qualifies.

All three are great examples of the professional and energetic approach to life now visible throughout modern Ireland. They are focused and have the ability to combine an active business life with an active personal lifestyle. A combination which many aspire to, but less achieve.

On Friday 30 March 2007, The Lord Mayor of Cork, Councillor Michael Ahern ACMA held a Civic Reception in the City Hall of Cork to honour Mr. John Coghlan in becoming the fourth Irish member to be voted CIMA president.

The event was attended by current and past members of CIMA in the Cork area, many of whom qualified in the 50’s and 60’s. The evening was a great success, with many old friendships renewed.

Lord Mayor of Cork honours CIMA President John Coghlan

Right, John Coghlan, CIMA President addresses the audience at the Lord Mayor of Cork’s civic reception held in his honour.

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The annual CIMA Ireland conference will now take place on 21 September 2007 in the Royal Hospital Kilmainham, with special guest speaker, Sir Gerry Robinson. Watch out for more details soon.

The annual dinner dance was held in the Maryborough House Hotel with over 210 people attending. Premier Recruitment and Ulster Bank were joint sponsors for the evening.

The Lord Mayor of Cork, Councillor Michael Ahern ACMA attended, along with CIMA President John Coghlan, CIMA Ireland president, Tom O’Connor and all Branch presidents, including Jim O’Hagan from CIMA Northern Ireland.

After dinner a raffle was drawn, with prizes including a 15 inch flat screen TV, sponsored by the Evening Echo Newspaper. The Bowen Brothers provided the music and dancing continued until the early hours of the morning.

Lord Mayor of Cork attends Cork and Kerry Branch’s Annual Dinner

Pictured left, from left to right is Ursula Ó Dugáin, President of Cork and Kerry Branch, Séamas Ó Dugáin, Lord Mayor of Cork, Councillor Michael Ahern and

CIMA President, John Coghlan.

On 23 February around 100 people attended a breakfast briefing, “How to improve your cash flow by managing your inventory”, at the Imperial Hotel Cork, sponsored by Hays Recruitment.

The speaker, Mr. Sean Pomphrett of CBSI Consulting drew on his own valuable experience in business. He outlined various stock holding principles and common sense methods of freeing up cash to improve cash flow.

His business cases were wide-ranging and provided insight into a variety of scenarios.

This popular event is part of a series of events being organised during 2007 - 2008.

Cork and Kerry breakfast reveals how to improve your cash flow

Pictured right, Séamas Ó Dugáin (left), President, CIMA Cork and Kerry Branch with key speaker, Sean Pomphrett from CBSI Consulting. (Photo

courtesy the Irish Examiner).

continuous | flexible | focusedFor more information on CIMA Professional Development and supporting resources from CIMA visit www.cimaglobal.com/cpd

CPD monitoringfocus on your development

2007 is the first year of monitoring for CIMA Professional Development. If you have been selected and contacted for monitoring please make sure you submit your 2006 CPD record by the required date.

Most of you already undertake CPD activities regularly which demonstrate your commitment to professional competence and ethical awareness – factors that drive your employability. Recording your development activities provides evidence of that commitment which can be submitted to CIMA should you be monitored.

Visit the CPD Centre online to find out ways to record your development activities – including the CPD Planner – and to access CPD Solutions, our range of supporting products and services that can be used as activities.

www.cimaglobal.com/cpdcentre

CIMA develops you furtherPage 6

On 31 January, over 110 CIMA members gathered in the Maryborough House Hotel in Cork to attend a CPD Information evening and active workshop, sponsored by Premier Recruitment. The session was chaired and presented by CIMA CPD Manager Mr. Nigel Race.

Participants were given information as to why CPD had been introduced and how they should maintain their own CPD record manually or online. Nigel explained what training tools and information is available to members on the CIMA website.

The CPD life cycle of define, assess, design, act, reflect and evaluate was discussed in detail. Participants split into teams to complete sample record forms. This was a worthwhile exercise and gave those who attended the understanding that compliance to the CPD rules was of benefit to both the employee’s development and for the employer.

CPD explained to Cork and Kerry members

Genzyme provides an overview of Sarbanes-Oxley to CIMA’s South East membersOn 13 March, the CIMA South East Branch ran a CPD event for 32 attendees, which focused on “Responding to the Challenges of an Ever Changing Control Environment - with special emphasis on Sarbanes-Oxley Act”.

The event was hosted by Genzyme, with Bill Murphy ACMA, Financial Director recounting Genzyme’s experiences of Sarbanes-Oxley. Bill also gave members a practical insight into the enormous strides made by Genzyme since the start up of the Waterford facility in 2001.

Frank Walsh FCMA, Lecturer in Accounting and Project Management in Waterford Institute of Technology, drew on his academic and practical experience to present the basics of the Sarbanes-Oxley Act. He covered the implementation approach taken by Becton Dickinson where he worked as Sarbanes Oxley European Project Manager in 2003 in Belgium. Frank also gave an update on contemporary thinking in the US on Sarbanes-Oxley.

David Hutchinson, President of CIMA South East Branch, thanked Genzyme for their generous sponsorship of this event.

Pictured from left, David Hutchinson, President, CIMA

South East; Bill Murphy, Finance Director, Genzyme;

Frank Walsh, Lecturer in Accounting and Project

Management, Waterford Institute of Technology and

John Grogan, CPD Officer, CIMA South East Branch.

(Photo courtesy of photozone).

CIMA My Jobs is the new dedicated career portal for CIMA members and students that replaced the existing portal from 1 February 2007.

The aim of My Jobs is to provide a direct link between employers seeking CIMA members and students for their vacant positions and students and members wishing to advance their career while still being able to gain the necessary support for their qualification.

It’s never been easier for an employer to register or students and members to search for jobs, all can easily be managed online by the company, recruiter or individual.

If you aspire to be at the leading edge of the world’s most successful business, visit www.cimaglobal.com/myjobs and let CIMA MY JOBS drive your career forward.

CIMA’s My Jobs - the gateway to your successful career

CIMA guarantees career choicePage 8

Students from Ard Scoil Ris in Limerick win Mid-West Branch quiz

On 14 April, 70 Passed finalists registered for the session at the Burlington Hotel, with over 60 gaining their letters on the day. The numbers and success rate demonstrate how worthwhile and valued this ‘one stop shop’ format has become.

It is anticipated that the next event in Dublin will be in October. Details will be published on the website in due course.

Membership application day - the valuable ‘one stop shop’

On 17 April the fourth CPD event of the 2007 year was held at the Granville Hotel, Waterford. 38 people attended to hear presentations delivered by two experienced professionals, giving members pragmatic tips and advice on how to handle two important facets of contemporary business, public affairs and career coaching.

John F Condon, Director of Public Affairs, Merck Manufacturing Division, EMEA, presented ‘Public affairs - supporting the business in a corporate environment’, which was supported by some good case studies based on his experience over 20 years. Members gained a better understanding of the value of public affairs to the business and acquired tools that they can apply in their own companies.

‘Career Coaching for Performance’ was presented by Karen Gray, partner of Career Vision. She described how the finance profession is one in which career paths are often considered clear and pre-determined. However, individual desires still need to be extracted and attended to in order for the work role fits to be optimal. The broad topic of Career Management was introduced with specific reference to Career Coaching as a practical option to address career ‘under-management’. Career Demotivation is often exposed when individuals and organisations fail to attend to, and act upon, deep-rooted work motivators. The results can have serious and prolonged negative impact on both parties, but the Career Coaching process offers a positive way forward.

A question and answer session followed both presentations with positive feedback from the attendees, which included people from outside the branch region.

Public Affairs and Career Coaching outlined for South East Branch members

On 23 January, the CIMA Mid-West Branch held a schools quiz for secondary students in the area. The event was held at St. Munchin’s College in Corbally, Limerick.

The prize winners for the evening were:

Winner: Ard Scoil Rís North Circular Rd Limerick

Second: Abbey School, Tipperary Town

Third: Glenstal Abbey School, Murroe, Limerick

Pictured from left, Joe Littleton, CIMA Mid-West Branch President with the winners of the school quiz from Ard Scoil Ris in Limerick.

Pictured lfrom left, speakers John Condon, Director of Public Affairs, EMEA, Merck Sharpe & Dohme; Karen Gray, Career Management Consultant, CareerVision Ltd. and John Grogan, Vice-President and CIMA CPD officer, South East Branch. (picture courtesy of photozone)

Recent developments

Do you want to take part in a research study that assesses the personalities of accountants? If so, read on….

Gary Martin from the University of Ulster at Jordanstown is presently completing a study in this area. Accountants play a key role in a wide variety of areas that are of strategic importance to their organisations, whatever sector of the economy they work in. Given the relentless pace of change of today’s world, effective finance professionals make a vital contribution. In his study examining this changed, and changing, role of the accountant, Gary is investigating this important issue from the perspective of personality tendencies of accountants themselves.

This is where your help will make a real difference. If you would be prepared to give up 10 to 15 minutes of your time to take part in a survey that measures the personality tendencies of accountants, it would be greatly appreciated. Participation is entirely voluntary, and anonymity and confidentiality is guaranteed. If you want more information and guidance on how to take part, please follow the following weblink: www.busmgt.ulst.ac.uk/personality

The user name to access the site is ulster, and the password is gary. By participating in this study, you will be making an important contribution to a debate of ongoing relevance to the profession.

Accountants - so who do you think you are?

CIMA takes the lead in management accountingPage 9

Office news

CIMA Ireland is delighted to welcome new staff member Louise Shiel. She joined the Irish team as Receptionist and took up her position in March 2007.

Also on secondment from the UK Head Office is Christopher Fuller who has been based in Ireland since March 2007.

On easter Saturday conditions were excellent for the South East Branch annual golf outing. 16 golfers took part in the event, which was held at the Waterford Castle Golf Club with prizes sponsored by WBS Recruitment.

The winner of the CIMA Trophy was a Cork man, Colm Moynihan, a past prize winner, who scored 37 points on the day. The Visitors’ Prize went to John Mullaly with a score of 41 points, which shows he is a better golfer than anyone in CIMA. The team prize was won by Kieran Mc Keown, Ger Nagle, Kevin Costello and Robbie Finan; testament to Kieran’s ability to pick a good team.

The next annual outing will be on Easter Saturday 2008. The venue has yet to be confirmed.

Colm Moynihan takes the CIMA Trophy at the South East Branch golfing day

CIMA has organised a range of benefits for members with established commercial bodies. A number of these contribute to the Institute’s Benevolent Fund.

Voluntary Health Insurance

A group scheme for CIMA Members affords a discount of approximately 10%. Members wishing to obtain details of the scheme should contact VHI directly quoting the scheme number 32/7671. The address is Voluntary Health Insurance Board, VHI House, 20 Lower Abbey Street, Dublin 1. Telephone 01 8724499.

Health Check

CIMA have negotiated a deal with the Mater Private Hospital, which offers members a discounted rate on health screening programmes. If you are interested in availing of this offer or would like a brochure, please contact 01 885 8257 or email healthcheck@materprivate.ie and quote “CIMA Privileges”.

Vision Express/Optical Lab

CIMA and Vision Express have joined forces to allow you and your family substantial savings on your complete eyecare. Vision Express is one of Europe’s leading optical groups. To obtain Vision Express corporate savings simply phone CIMA’s Dublin office on 01 643 0400 to receive your voucher.

Frank Glennon Insurance

Car and home insurance: two schemes, covering car and home insurance for members and their spouses, are operated for the Institute by Frank Glennon Ltd, Insurance Brokers. Please phone 01 7075800 for information or email personal@glennons.ie

Omega Financial Management

CIMA Members are offered an exclusive mortgage package of a 0.89% discount off the normal variable rate for the first two years of your mortgage. For more information please contact Omega Financial Agent on 1850 260 261.

Professional Indemnity Insurance

For a scheme catering for CIMA members in practice please contact Martin Adams at Jardine Lloyd Thompson Ireland Ltd, 021 427 7370 or madams@jlt.ie

Oman Removal & Storage

Oman provides worldwide relocation, moving and storage solutions. Oman is working in conjunction with CIMA to provide you with a 10% discount on each of these packages. Full relocation, homefinding, home sale or purchase, visa/work permit applications, tenancy and expense management, domestic or international household goods move, household goods storage, storage and transit insurance. Please contact callsave: 1850 668 464 or e-mail sales@oman.ie

Business and Finance Magazine

Business and Finance magazine will be made available to CIMA members at a 55% discount off the standard 1 year subscription rate.

The 1 year’s subscription rate (normally €168.00/£114.00) will be just €75.00/£50.91 to a CIMA member representing a saving of €93.00/£63.09.

Business and Finance magazine will be delivered direct to you every fortnight.

If you are interested in subscribing, please call Jennie Byrne on 01 4267800.

Open Fairways

CIMA members are entitled to apply for a discounted rate for membership:

Open Fairways..Golf’s most privileged membership.

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400 international courses, from Spain’s La Manga to China’s Mission Hills

simply choose one of the 1500 courses presented in the full colour passport.

To book your tee time and enjoy your huge saving, call Open Fairways Membership on 04890 769111.

Hilton Hotel

Whether business or pleasure take advantage of our corporate rate at the Hilton Hotel. Log onto www.hilton.co.uk and enter the special CIMA password D000003092 into the corporate rate section when booking. This offer applies to the Hilton Hotel, Charlemont Place, Dublin 2.

Dream Ireland Holiday Rentals

Dream Ireland are acknowledged experts for holiday homes and have over 1500 self-catering holiday homes, cottages and apartments in more than 50 locations all around Ireland.

Dream Ireland Holiday Rentals are delighted to offer CIMA Members a 10% discount on a stay at any of the selected fantastic Dream Ireland location.Please contact CIMA’s Dublin office on 01 643 0400 for more information.

Fast-Fit

Offer of up to 20% discount for CIMA members. Please contact CIMA office on 01 643 0400 for more information.

HMCA

CIMA members have option to join HMCA’S ‘cash plan’. The cash plan offers from €50 - €250 hospital cover per day. Phone 01 613 0316 for more information.

Thomas Cooke

A varied discount is offered to CIMA members, depending on the holiday package. For further information, please call 01 677 7000.

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Student services

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The CIMA Direct online learning support programme for strategic level students is now up and running for the May 2007 exams. To date there has been a total uptake of 40 strategic level students for CIMA Direct online courses.

The CIMA Direct online package for May 2007 consists of:

A range of exam style questions and two mock exams per subject. On submitting an answer students will receive detailed and constructive feedback from their online tutor. Once they have submitted an answer and received their tutor feedback we will send the suggested answer.

Access to MindPlanning®: the MindPlanning® process is delivered through an online software reinforcement tool, which enables the user to learn and practice the method of structured examination answer planning.

A range of online support materials.

Pre-Exam revision courses

The series of two day pre-exam revision courses to accompany the CIMA Direct online study commenced with P09 Financial Strategy on 24 and 25 March 2007. The seminar was presented by Gamel Taher, with excellent student feedback.

Places are still available for the pre-exam revision courses for P03 and P06.

The dates for these are as follows:

P3 Risk and Control Strategy

Dates: Friday 11 and Saturday 12 May 2007

Venue: Thomas Priory room

Bewley’s Hotel, Ballsbridge, Dublin 4

Lecturer: Sean O’Leary

P6 Business Strategy

Dates: Thursday 10 and Sunday 13 May 2007

Venue: Thomas Priory room

Bewley’s Hotel, Ballsbridge, Dublin 4

Lecturer: Chris Cain

Cost: €140 per subject

To enrol in any of these seminars, please contact the Dublin CIMA office for an enrolment form on 01 643 0400 or via email at dublin@cimaglobal.com

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CIMA offers more learning choice

Places still available for CIMA Direct seminars

CIMA provides a network of high achieversPage 13

The TOPCIMA Seminar for the May 2007 exam was run over two days on Friday 30 and Saturday 31 March, at the Herbert Park Hotel, Ballsbridge, Dublin 4.

It was presented by lecturer Mr Dan Maddox to a total of twenty three TOPCIMA students from around the country.

Students’ feedback has been extremely positive, stating Dan’s teaching style, knowledge and enthusiasm are unparalleled.

TOPCIMA Seminars hit the mark with students

All Student Forums have now taken place around Ireland in Waterford, Cork, Dublin and Galway. The students who attended all reacted positively to the events and have provided valuable feedback and initiatives going forward.

Student forum update

The following are mastercourses that will be running in Dublin until the end of 2007.

The hidden profit and loss account25 May 2007

Fitzpatrick Castle Hotel

Killiney, Co Dublin

Faster financial closing13 June 2007

Fitzpatrick Castle Hotel

Killiney, Co Dublin

Financial management in SME’s2 July 2007

Fitzpatrick Castle HotelKilliney, Co Dublin

Sustaining Sarbanes-Oxley15 October 2007

Fitzpatrick Castle Hotel

Killiney, Co Dublin

Management accounting - developments from the cutting edge22 November 2007

Fitzpatrick Castle Hotel

Killiney, Co Dublin

For further information about the above courses and how to enrol, visit www.cimamastercourses.com/nwnroi and type Dublin in Course Location in the Mastercourse Finder.

Upcoming Mastercourses for members and students in Dublin

For advertising and sponsorship opportunities with CIMA Ireland, please contact Siobhan O’Reardon on 01 643 0400 or via siobhan.oreardon@cimaglobal.comPage 14

Event calendar

Date Event Speaker Sponsor Audience Location

12 April 2007 Student event - Industry speaker, case study follow up

TBA Students TBA

12 April 2007 Student event - Exam techniques seminar

Niall Hennessy Students Institute of Public Administration

18 April 2007 Pensions evening event

Alan Flynn and Rachel O’Sullivan

BDO Members BDO

25 May 2007 Post exam drinks Brightwater Students TBA

28 May 2007 Annual general meeting

Dublin and District Committee

Members Westbury Hotel, Dublin 2

Dublin and District Branch Events

Date Event Speaker Sponsor Audience Location

27 April 2007 Annual dinner Members Ardilaun House Hotel

West of Ireland Branch Events

Date Event Speaker Sponsor Audience Location

7 April 2007 Annual golf outing WBS Recruitment Members Waterford Castle Golf Club

17 April 2007 CPD event John Condon, Director of Public Affairs EMEA Merck Sharp and Dohme, Karen Gray, Career Vision

Members and students

Granville Hotel

21 May 2007 Annual general meeting

Members Granville Hotel

South East Branch Events

Cork and Kerry Branch Events

Date Event Speaker Sponsor Audience Location

25 May 2007 Post exam drinks Brightwater Students Metrepole Hotel, Cork

30 May 2007 Annual general meeting

Members Maryborough Hotel

Do you have any feedback about Network News?Have you been to an event that you think others might like to hear about?Is there any information that that you would like to see included in future editions?

If so, please email your comments and stories to networknews.ireland@cimaglobal.com. The deadline to have articles submitted for the June issue is Friday 18 May.

The Republic of Ireland Annual Dinner will be held at the Round Room, the Mansion House, Dawson Street, Dublin 2 on 11 May 2007. If you would like to pre-book a table you can contact Christopher Fuller by emailing christopher.fuller@cimaglobal.com

Date Event Speaker Sponsor Audience Location

25 May 2007 Luncheon Micheál O Muircheartaigh

Students/members and the business community in the Mid West Region

Castletroy Park Hotel Limerick

Mid West Branch Events

Date Event Speaker Sponsor Audience Location

14 April 2007 Membership application session

Students/passed finalists

Burlington Hotel

20 April 2007 Graduation To be confirmed Premier Recruitment

Passed finalists Royal College of Surgeons

11 May 2007 ROI Annual dinner To be confirmed Members Mansion House

12 May 2007 ROI Annual general meeting

Members Shelbourne Hotel

All of Ireland Events

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