ASK THE EXPERT - HANDLING A COMPETENCY BASED

FRS 102 Revised Seminar Brings South Yorkshire Finance Leaders Together

In collaboration with Shorts Chartered Accountants, we recently hosted a seminar for senior finance professionals from across the region.The event brought together a number of Finance Directors, Financial Controllers and senior leaders from across the region for a morning of insight, discussion and networking over breakfast. It was a pleasure to welcome so many familiar faces, alongside new contacts, reflecting the strength and depth of the Yorkshire finance community. The seminar was presented by Howard Freeman, Audit & Accounts Partner, and Andy Ryder, Corporate Finance Partner at Shorts. We are extremely grateful to both speakers for sharing their time and expertise, and for delivering a clear, practical overview of the forthcoming changes to FRS 102, which came into effect on 1 January 2026 and are expected to impact a significant number of UK businesses. The session explored what is changing and why, particularly in relation to lease accounting and revenue recognition, and considered what the updates mean in practice for finance teams and business leaders. The speakers also addressed the new reporting requirements under FRS 102, the potential impact on EBITDA and valuation methodologies, and the key considerations for organisations as they prepare for implementation. Rather than focusing purely on technical detail, the seminar encouraged broader discussion around readiness, communication with stakeholders and the commercial implications of the changes. This led to a highly engaged Q&A session, with attendees sharing perspectives and experiences from their own organisations. At Sharp Consultancy, we are committed to supporting the finance community beyond recruitment alone. Events such as this form part of our ongoing effort to create opportunities for connection, knowledge-sharing and professional development among senior finance professionals. We would like to extend our sincere thanks to Shorts for partnering with us on this event, and in particular to Howard and Andy for delivering such an informative and thought-provoking session. We are also grateful to everyone who attended and contributed to the discussion. We look forward to hosting further events in the coming months and continuing to work closely with our network of finance leaders across the region.If you would like to discuss how these changes may impact your finance team, or if you are considering strengthening your leadership function, please contact us for a confidential conversation.

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I have been invited to an interview and been advised that it will be a competency-based interview. What should I expect and how can I best prepare?

An increasing number of employers are opting for competency-based interviews instead of or in addition to a more traditional approach to hiring new members of staff.

Competency based interviews are a way for interviewers to decide between candidates and select the best person for the job. They go beyond assessing tasks and technical attributes and look at your personal characteristics to determine whether you can perform at the highest level.

By understanding what a potential employer is looking for, you will be able to answer these questions and demonstrate that you are the right person to make a difference to their business.

When interviewing for competencies, your potential employer will begin by asking you for an overview of a situation in which you have clearly exhibited a particular competency. For example “I would like you to give me an overview of a recent situation in which you had to take a particularly disciplined approach to your work.” They will then ask a series of behavioural questions to fully investigate how you handled the situation:

“Tell me about the situation”

“What was your role?”

“Who else was involved?”

“How did you feel when that happened?”

“What exactly were you thinking then?”

“What exactly did you do next?”

“What exactly did you say then?”

“What was the outcome?”

Your responses will provide the interviewer with a huge amount of information so be prepared and think about what you want to say and how you are saying it. An interviewer will be looking for you to be clear and detailed in your responses; describe a situation with “I did” rather than “we did” and do not wait to be led by the interviewer - volunteer your thoughts on the matter.

Also, think about what your thoughts and feelings were at the time as opposed to how you feel now and do not be vague in your responses; be specific and avoid answers such as “I usually do...”

Competency interviews enable a future employer to understand which candidates will be able to perform at the highest level and have the potential to progress within the company, so it is vital that you give the best possible account of yourself.

Sharp Consultancy specialises in the recruitment of temporary, interim and permanent finance and accountancy professionals. With offices in Leeds and Sheffield our highly experienced team of consultants recruit for positions throughout Yorkshire and beyond. CONTACT US today to find out more.

ASK THE EXPERT - HANDLING A COMPETENCY BASED INTERVIEW

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