Meet Peter McCarthy
Principal
I decided to become an accountant because I was called upon by a higher power with instructions to make sure all the balance sheets balance. I’d like to think this was the case but the truth is that accounting is in the blood. Deciding to study accounting and become a CPA was a well-worn path in the McCarthy family.
Having the ability to spend time during school holidays working in family firms gave me an early insight into just how accounting can help people and deliver the good news that makes people’s lives better.
The decision to begin my career in Private Practice was not a difficult one. Choosing a small firm provided the unique opportunity to be thrown into the deep end while being able to help and support the greatest number of people on a personal level.
There is absolutely nothing more rewarding in this game than making a difference to a person’s life. Behind every set of accounting numbers or reports are real people. Whether they are growing their business, trying to save tax or protect their assets, I always try to help people feel that they are moving forward. As the founding member of Precision, this has allowed me to do exactly that every day.
I believe in the direct approach. We talk in a no-nonsense straight forward style. We don’t sugar coat it; we tell it like it is. In the defence force, they would call it a “no shitter”. We listen, and we work with our clients to make things happen.
Being a Tax Agent, a member of CPA Australia, the National Tax and Accountants Association, and a Chartered Tax Advisor ensures that I am supported by the best our industry has to offer.
We don’t consider ourselves to be your typical accounting firm. Sure we “crunch numbers” and we are part “geekazoid”, but we believe in taking our clients business into the cloud where we help it prosper.
Why are you passionate about accounting and helping businesses grow?
As corny as this may sound, behind every set of accounting numbers or reports are real people. Real families and lives that are dependent on those numbers and reports.
Accounting is in large, an historical reporting system. What is done is done. Having the opportunity to work closely with small business owners to explain and make sense of the complexity of historical accounting numbers and reports is rewarding.
However, what I am most passionate about is being able to work with clients throughout the year in real time to discuss what they would like to happen, where they would like to end up and then go about implementing the strategies to ensure these goals and objectives will be achieved.
It is extremely rewarding to know you have actually helped make things happen.
What was your first place of employment?
While obtaining a Bachelor of Commerce from the University of Newcastle I had my first taste of the profession working with ITP for a few tax seasons. It was a pressure cooker but I felt like Santa at least 10 times a day.
How did you get into the industry?
I want to think I was called upon by a higher power but that wasn’t the case. My uncle is an accountant and I would spend a week every year during school holidays working with his firm. Seeing him help people and deliver good news that would actually make people’s lives better was pretty exciting.
How long have you been in this role?
I started PTAM on 12th January 2014 working out of a spare room at home. Very glamorous!
What is your professional motto?
There is absolutely nothing more rewarding in this industry than making a difference to a person’s life. Whether that be through helping their business grow, saving tax or protecting assets I always try to help people feel that they are moving forward.
What are some quirky or interesting things about you?
When not doing the PTAM thing I love to travel across the USA and my goal is to eat a burger in every state. Just under halfway there.
I want a life size replica of Thunderbird 2. Got to dream big!
Brett Favre is always welcome to come over for a BBQ, before I die I am going to take a space flight and my last meal will include mashed potatoes.