McCay Duff LLP is posting an ongoing blog series intended to introduce readers to some of the members of our team, in their own words. The second post in our series focuses on Senior Tax Manager Paul McConkey, who joined the firm just this year. Prior to joining McCay Duff LLP, Paul had spent over twenty years in public service at both the provincial and federal levels. In his current role, Paul helps clients find solutions to both simple and complex tax issues, in addition to providing in-depth business consulting services.
What do you appreciate most about working at McCay Duff LLP in Ottawa?
The team at McCay Duff has been wonderful to deal with. Starting with a new company during a pandemic has been a unique challenge, getting to know my new colleagues online. However, the team has been friendly and accommodating, making the process much easier than it could have been. The speed with which they’ve adapted to the pandemic has been quite extraordinary.
What got you interested in pursuing this line of work?
I was always interested in how businesses worked from a financial standpoint. From a young age, I was always more interested in how much something cost, and how the financials worked. Perhaps that’s a product of coming from a long line of Chartered Accountants. My father was a CA as were many generations before him. Two of my sons are also now carrying on the family tradition.
What aspect of the work you do is the most rewarding?
The work is different every day and each day brings new challenges. It’s never the same, which is a really enjoyable aspect of my role, especially coming from public service where there tends to be less variation.
How does McCay Duff differ from other firms in terms of client service?
Coming from public service, McCay Duff is my first experience working with a private accounting firm. However, something I’ve really enjoyed is the focus on individual clients. At McCay Duff, I have the opportunity to develop ongoing relationships with specific clients, allowing me to consider their long-term needs in addition to solving short-term problems.
Tell us a little about your areas of practice/specialty.
My area of expertise is corporate tax & compliance, as well as training. At the Canada Revenue Agency, I was a regional tax trainer for Ontario. I look forward to using those training skills in working with my colleagues, as well as co-op students, at McCay Duff. I also bring a considerable amount of experience working in the realm of tax audits. In my current role, I use that experience to provide in-depth advice to clients to help them avoid audits or guide them through the process should they receive contact from the CRA. In addition to preparing business tax filings, I also advise corporate clients on issues such as tax deduction opportunities and corporate reorganizations.
What is your approach to client service?
Something I really enjoy about working in private practice is the ability to strategize for my clients. I am focused on developing ongoing client relationships so that I can learn each client’s needs, and then strategize on their behalf. I look for opportunities for growth or financial gain while ensuring my clients remain in compliance at all times. I take the time to really listen to each client, as well as their goals so that I can help them get to where they want to be.
What is a common misconception about your profession?
In my experience, people tend to think that the role of an accountant is very repetitive and consists mostly of preparing tax filings. However, the profession is actually very advisory in nature. We provide guidance that helps our clients grow, plan for their families, and expand their businesses. We have an opportunity to provide real value to each client through forward-thinking strategies.
What do you wish more clients would ask you about?
Clients often want help with things such as financial statements or tax returns, but many don’t think to ask about future opportunities. As your accountant, I can help you invest strategically, show you how to grow surplus cash, and help you structure your finances or business to save tax in the future. Many people reserve these types of questions for their financial planner, but CPAs have a lot to offer in this area as well.
Paul McConkey is a Senior Manager with McCay Duff LLP in Ottawa. You can reach Paul by phone at 613-688-2658, or by email at pmcconkey@mccayduff.com.
McCay Duff LLP‘s clients face a variety of business, financial and personal challenges and rely on our team to provide the expert advice they need to meet those challenges. You can be confident that our team of trusted professionals will provide you with personalized advice and service to help you attain your business and financial goals. To learn more about how McCay Duff LLP can assist you or your business, please contact us online, or by telephone at 613-688-2658 or toll-free at 1-800-267-6551.
