Gemma Gibson - Audit Partner, Johnston Carmichael
Gemma has almost 20 years’ experience in audit, having spent more than 19 years at a Big Four firm before joining Johnston Carmichael. She has extensive experience supporting businesses across a range of sectors, with particular expertise in property and construction, manufacturing and PE-backed businesses.
Johnston Carmichael is one of the UK’s leading independent accountancy and advisory firms. Founded in Scotland in 1936, the firm expanded into the North East in 2023, opening its Newcastle office to support growing businesses across the region.
What inspired you to become an accountant, and what path did you take to get here?
My route into accountancy was not exactly planned. I studied maths and statistics at Newcastle University and, at the time, I was certain I did not want to become either a maths teacher or an accountant! In my final year, I followed friends to graduate recruitment fairs, discovered the Big Four, applied for roles and was offered a position at a firm in Newcastle. It was a very competitive process, so that first opportunity felt like a real achievement.
Looking back, I was also inspired by my family. I was the first person in my family to go to university, and education was always strongly encouraged as I was growing up. I wanted to prove that I could build a career and, in the end, accountancy found me.
What are the most common financial mistakes individuals and businesses make?
I have found that one of the most common mistakes is not asking for help early enough. Businesses can sometimes wait until a situation has become urgent before seeking advice. Early conversations with trusted advisers can make a significant difference, whether the issue is cash flow, growth, investment, controls or resilience.
How has technology changed the accounting profession, and what tools do you rely on most?
Technology has fundamentally changed the profession. Accountants are now trusted as forward-looking advisers who can help businesses clarify information and make better decisions. AI has removed many repetitive manual tasks and increased the speed at which information can be processed, which is great as it leaves time to get in to the interesting stuff and the areas that really add value for businesses. At the same time, it is important that we continue to support the next generation coming through the profession. We all learned what we were doing by getting close to the detail, asking questions and building experience over time, and we need to make sure AI enhances that development rather than taking those opportunities away.
What advice would you give to small business owners looking to improve their financial health?
Make time for regular check-ins with professional advisers and do not be afraid to stress test your business. It is important to understand what you do not know. The pandemic showed that almost anything can happen, so identifying financial strengths and weaknesses in advance is key to being able to adapt quickly and make informed decisions when circumstances change.
What are the biggest financial trends or challenges businesses should prepare for in the coming years?
Businesses should prepare for continued uncertainty, increasing regulation, rapid technological change and ongoing pressure on costs and cash flow. It will become even more important to have strong financial information, robust controls and the ability to scenario plan.
What qualities make a great accountant, and how do you build strong client relationships?
A great accountant definitely needs technical skill, but strong relationships are built on much more than that. You need to be yourself, be approachable and understand the business as well as the numbers. I know that clients value advisers who communicate clearly and show genuine interest in what the organisation is trying to achieve.
How do you handle the pressure of working with tight deadlines and complex financial issues?
Good project management is essential, as is having the right support around you. I focus on getting everyone aligned with the timetable and making sure responsibilities are clear. When deadlines are tight or issues are complex, clear communication and shared accountability make all the difference.
What’s one piece of financial advice you think everyone should follow?
Know your numbers and ask questions early. Whether you are running a business or managing personal finances, understanding the information in front of you gives you more options and better control. I wish I’d understood more about finances when I was growing up, and I’d encourage everyone to educate themselves even if it sounds boring!
What do you enjoy most about being an accountant, and what keeps you motivated in your profession?
The work is both familiar and constantly changing. In audit, there is a clear annual cycle and a consistent purpose, but every year, even with the same business, something different has happened. That variety requires fresh thinking and curiosity, and that is what keeps the work interesting and motivating for me.
www.jcca.co.uk