Business panel: Fascinating world-class work on our doorstep
IS FUND ACCOUNTANCY a good career choice in Guernsey?
Norman Amey, director, Estera Guernsey, replies:
FUND ACCOUNTANTS are always in high demand in Guernsey, thanks in no small part to the great strength of the island’s fund industry. There are more than 800 open and closed ended funds regulated out of Guernsey and the island is also home to more London-listed funds than any other jurisdiction outside the UK, creating a huge requirement for sophisticated fund professionals.
In the last six months, our firm alone has recruited three trainee fund accountants to satisfy client demand, one of whom has joined us straight from school, one straight from university, and the other pursuing a career change. Because they are scarce, we welcome the opportunity to develop home-grown professionals, who can go on to work with globally-renowned funds.
Both private funds (such as those investing in private equity and real estate) and listed funds are frequently engaged in complex cross-border cash or non-cash transactions, which all call for the knowledgeable application of international accounting rules and standards. In addition, fund accountants in Guernsey are called on by London-listed funds, including those in the FTSE 250, to work on sophisticated and technical matters relating to corporate governance and listing rules continuing obligations, so the work is always challenging and interesting.
There is an increasing pace of change in global accounting standards and corporate governance regulations, and the reporting requirements that fall within the remit of accountants are also ever-increasing. Environmental, social and governance factors now often need to be included in fund reporting and thus come to the attention of fund accountants, for example.
Another good reason to pursue fund accounting is the wide variety of opportunities that can be opened up once you have achieved an accountancy qualification. For school-leavers, it can take fewer than four years to secure a professional accounting qualification while working, and graduates with relevant degrees can qualify even quicker. Once qualified, accountancy can lead to many more opportunities across Guernsey’s booming financial services industry.
Fund accountancy is a great career choice for many reasons, and especially in Guernsey, where there is so much fascinating world-class work on our doorstep.
