Accountants were boring.

Accountants were grey.

Accountants didn't get the girls. But many of those same accountants are now driving the big cars, living in the big houses, and running the big companies.

About 80% of all financial services companies have an accountant in the position of chief executive, which is hardly a surprise, considering that accountants make excellent financial service professionals. But accountants occupy more than just the top positions in finance companies . . . because of the nature of their training, coupled with the importance of finance to the overall running of a business, accountants are increasingly finding themselves in the top positions of companies across practically every business sector.

"Look at all the PLCs in Ireland, " suggested Andrew Robinson, executive search consultant at Broadreach, part of the CPL group. "I can't think of one that doesn't have a Chartered or Certified Accountant in a senior position. Previously, accountants tended to occupy financial roles, but with increased compliance requirements thanks to the Sarbanes Oxley Act and other financial services regulations, they are increasingly moving into other areas of business."

Indeed, the role of the nonexecutive director has been changed hugely by the requirements of compliance, and whereas previously a non-executive directorship would be given to acquaintances and associates, now they tend to be given to people who understand the strictures of company law - people such as accountants.

Nevertheless, it is not only down to compliance that accountants are finding themselves in senior business positions; the training that people get as an accountant seems to naturally lead them towards the holy grail of corporate apotheosis.

Nine out of the top 10 ISEQ companies had a chartered accountant as either CEO or financial director, and some notable examples of CA CEOs include David Dilger (Greencore), Cormac McCarthy (Ulster Bank Group) and David Drumm (Anglo Irish Bank); not to mention the fact that Michael O'Leary also trained as an accountant.

"It is partly down to the style of training that accountants get, " said Karin Lanigan, careers advisory and placement executive with ICAI (the Institute of Chartered Accountants in Ireland). "Accountants are given practical work experience along with the theoretical element of their training, so they (especially those working in the area of audit) are exposed to how business actually works. This is why a good understanding of the fundamentals of accounting is an excellent basis for understanding how to move a business forward."

This is a key element in why accountants regularly find themselves occupying the rarefied seats on the C suite. Senior businesspeople require a strategic outlook, and the role of the accountant has expanded beyond a purely financial function to become far more strategic.

"Companies will be looking for their accountant to add value, and to be involved in the commercial and strategic side of the business, " said Lanigan. "The financial side of things is still important, but businesses also expect their senior accountants to understand where the figures are actually coming from, and to be able to articulate the commercial realities of the business, breaking the barriers around the financial function (which was traditionally closed to the other parts of the business)."

Chartered Accountancy offers the sort of broadbased training which allows graduates to see the bigger picture, and hence to move into the more senior roles in a company. This training is further enhanced by CPD (continuing professional development), which not only keeps CAs up to date with the current business climate, but also allows them to maintain a focus on the latest compliance and regulatory issues.

Also, accountants, by their nature, are exposed to the state secrets from an early stage, which in some way puts them on a par with senior management from the get go.

"A qualification from a professional accountancy body gives people credibility from an early stage, " said Lanigan. "In fact, it is a feature of accountancy that people's careers peak at an early stage, with people promoted to senior positions very quickly."

Perhaps "peak" is not necessarily the right word . . .

after all, to peak would suggest achieving one's zenith before the inevitable downward spiral. It would perhaps be more apposite to suggest that certain accountants find themselves at or near the top of the corporate ladder more quickly than their counterparts from other areas of business, and that any move downwards is more akin to early retirement into honorary positions, sinecures and a boat on the Mediterranean.

Of course, an accountant's chances of rising right to the top of an organisation are in no way harmed by the fact that there is an almost natural progression for CFOs to become CEOs, rather than for COOs and CTOs to occupy the top seat.

"Sales people will tend to have a sales focus, " said Andrew Robinson.

"Engineering people will tend to have a technical focus. But accountants will tend to understand how each department works. In fact accountancy training, particularly chartered accountancy, is more akin to management consulting.

"Accountants with experience in industry will rise to the top, " he continued.

"They will understand the issues relating to the bottom line, but they will also offer more than that . . .

accountants have a positive effect on businesses in terms of attracting customers and helping companies to expand. They can help to make a business cashflow positive, they can increase revenue and they can cut the costs. But, to rise to the very top, they can't just be good accountants . . . they have to have that x factor as well."