At a glance
- The IPA Member Awards are held every year at the National Congress.
- Member of the Year Ama Abeywickrama was born and raised in Sri Lanka, before moving to Adelaide, where she founded her own firm in 2013.
- Practice of the Year, The Tax Factor, has experienced rapid growth and is about to launch an app that could revolutionise record keeping.
- Rising Professional of the Year Declan Lane seized a golden opportunity when invited to open the Brisbane branch of new firm Cathro & Partners.
Every year, we celebrate our members’ outstanding achievements at the IPA Awards at National Congress. Our 2024 Congress, held in Port Douglas from November 27-29, was yet another memorable event.
Here, we speak with our 2024 winners about what drew them to the profession, the challenges they faced along the way and any advice for aspiring accountants.
IPA Member of the Year – Ama Abeywickrama MIPA AFA
Ama Abeywickrama grew up in Sri Lanka before moving to Adelaide where she founded her business, Ama Tax Accountants, in September 2013.
“Running a firm in Australia was an immense challenge, as I came from a non-English-speaking background,” she says.
“I had no idea how to attract clients, what software to use or how to advertise on social media.
“For the first three years, we provided only bookkeeping and BAS. Then I received my tax agent registration.”
In addition, Abeywickrama experienced cultural pressure.
“Much like in the rest of the world, but especially in Sri Lanka, a woman starting a professional business independently is challenging because our culture is so focused on the success of men,” she says.
However, giving up wasn’t an option. Fast-forward 11 years and she’s opened a second firm in Sri Lanka.
In 2015, she completed a Master of Business Administration (MBA) while caring for her youngest daughter (then six months old) and she’s now studying towards a Master of Financial Planning at the University of South Australia.
For Abeywickrama, success comes down to “hard work with a little bit of luck”.
Community involvement – from sponsoring events to sharing educational videos – has also been essential, as has IPA membership.
“Without the IPA’s support, I wouldn’t have succeeded,” she says.
“IPA guides us in achieving our goals very professionally and always replies to our questions.
“It [has also] supported [us] continuously through webinars, seminars and CPD events that share knowledge and build skills.”
In advising aspiring and established accountants, Abeywickrama says, “Becoming successful isn’t just learning about numbers.
“You need to be able to talk to clients, take their information, turn it into a valuable story and pass it on to them as advice or a tax-saving strategy.
“Also, you must help each other, even your competitors and especially your peers.”
In addition, it’s helpful to have an outlet beyond accounting. For Abeywickrama, it’s music.
“I was very close to completing my year 12 exams in all music subjects, but changed to accounting at the last minute,” says Abeywickrama.
“I’m a singer. I’ve participated in many competitions, and now I love doing karaoke with my friends at parties.”
Bachir Zreika, CEO, The Tax Factor: IPA Practice of the Year
Since Bachir Zreika founded The Tax Factor in 2007, it’s grown to serve more than 3,000 clients across six locations.
This expansion was exciting, but not without its challenges.
“I immediately hired new administrative staff, then assistant accountants,” he says.
The next challenge was retaining and nurturing these employees. So, Zreika established a pathway program for university students.
“They start with an internship and are then promoted to assistant accountant and provided with training and mentorship,” he says.
“[The next step is promotion] to senior accountant, or [opening] up another office under a partnership program or franchise under our brand.”
Simultaneously, The Tax Factor has made the most of technology, including the development of a new app called ‘TaxRefunder’, to be launched in 2025.
“It may revolutionise record keeping and [enable] income tax return preparations live while [clients] communicate with their tax agents,” says Zreika.
“The plan is to make [it] available to all tax agents nationwide.”
For accountants aiming to build their careers, Zreika has bucketloads of enthusiastic advice.
“Be the best version of you! Be authentic! Don’t try and fit in! Offer something different!” he says.
“Be an agent of positive change and manage it! Focus on offering solutions, not services! Think beyond tax and money!”
He also recommends IPA membership.
“IPA membership has connected me to the accounting profession community,” he says.
“Events, workshops and conferences have helped me build business opportunities and relationships and kept me abreast of insights and trends.”
When Zreika is not working on The Tax Factor, he spends time with family, travels the world in search of adventure, and pursues his passions for history, theology and spirituality.
Declan Lane MIPA AFA, Director, Cathro & Partners: Rising Professional of the Year
For Declan Lane, accounting is in the blood.
“I started studying engineering and commerce,” he says.
“But engineering wasn’t for me, and my dad was an accountant.
“I realised how much he enjoyed his career, and how flexible it was. [He was] at all the important events in my life and was able to provide for our family.”
While Lane’s father provided inspiration, his success also created some trepidation.
“I’ve also always faced being in [his] shadow – he’s very well known in our industry,” he says.
“Working at the same firm it was difficult to differentiate myself.”
So, Lane moved to another firm but didn’t stop asking his dad for pointers.
This certainly enabled him to differentiate himself because, in 2021, he was offered a major opportunity: to open the Brisbane office for new firm Cathro & Partners.
“It was difficult to be by myself in an office, and to get out and market a new firm,” he says.
Despite these challenges, the team is now four-strong.
Moreover, Lane has expanded his skillset to become a liquidator and trustee in bankruptcy, enabling him to provide personal insolvency services.
When it comes to advising other accountants, he says that self-confidence and discipline are crucial.
“Have faith in yourself and your ability,” he says.
“If you put the work in to learn your craft and put yourself out there, people will support you.”
For him, one important source of support has been the IPA.
“From the first National Congress event I attended, I was able to meet accountants from all over the country,” he says.
“I’m still in contact with many of them and we refer work between us. Whenever I’m in their respective cities, we catch up and vice versa.
“They’ve been very helpful and provided opportunities for growth, and also people I can lean on for advice.”
In between building his accounting career, Lane has had some memorable adventures.
He can speak Spanish, has refereed a rugby game in front of 30,000 people, and once broke his arm during an arm wrestle.
Want to learn more about the latest developments and issues affecting the accounting landscape which was discussed at the 2024 National Congress? Read the next article in the 2024 National Congress series: Tax Practitioners Board alleviates some of the concerns over TASA reforms
