Meet the 35 Under 35 winners: Sophie Woodburn

Sophie Woodburn , Audit Manager at F. W. Smith, Riches & Co. , sits down with Adam Munro to discuss the ‘Tomorrows Leaders’ network she helped set up and why firms should mentor and encourage junior staff.

Sophie Woodburn provides high quality advice to clients, cost-effective solutions to any difficulties presented and is also involved with tendering processes for potential new clients which have grown the firm’s client base. Sophie is the UK & Ireland Shadow International Committee Representative for MGI Worldwide , a Top 20 accounting network. She is also Treasurer and Trustee for the London Children’s Flower Society and is a 35 Under 35 winner for 2024.

Early career and conferences

I graduated in 2016 from Loughborough University where I studied Economics with Politics, taking a year out to travel. Like most people out of university, I wasn’t entirely sure what I wanted to do, but I wanted to complete another qualification within finance which the ACA offered.

I joined F. W. Smith, Riches & Co. in August 2017 as a trainee and qualified as a Chartered Accountant in September 2020. I was then promoted to Assistant Manager in 2022 and in July 2023 promoted to Manager. Later that year, I became the Shadow IC Rep for MGI Worldwide and the LCFS Treasurer.

My first MGI conference was in Amsterdam in 2022, called the ‘Talent Meeting’. It’s aimed at younger members of the network, such as those still training, newly qualified members and those at manager level. The event was well run and enjoyable and I made some great contacts, one of which resulted in some mutually beneficial business.

‘Tomorrows Leaders’ is an initiative that I helped to create within MGI Worldwide as part of my role on the Shadow IC. It aims to connect up-and-coming employees in member firms with 10 years of experience or less, who wish to develop their leadership potential.

I was fortunate that due to expressing that I had enjoyed the MGI conference in Amsterdam, and networking generally, my firm put me forward to attend the European Conference in Copenhagen and UK & Ireland conference in Dublin within the next year.

Setting up the 'Tomorrows Leaders’ network

‘Tomorrows Leaders’ is an initiative that I helped to create within MGI Worldwide as part of my role on the Shadow IC. It aims to connect up-and-coming employees in member firms with 10 years of experience or less, who wish to develop their leadership potential. The group is aimed at younger members of MGI Worldwide as a chance to broaden their network without having to attend the in-person conferences/for those who are not able to yet. The idea is that we have four calls a year with guest speakers, panel discussions, or networking sessions, with a focus on specific topics that are of interest to everyone. As the sessions are virtual, this removes the travel and cost barriers associated with the in-person conferences.

We hosted a 1-hour "Developing the Leader Within" workshop this May, geared specifically for emerging leaders in firms seeking personal and professional growth. The call was a great success with over 200 delegates registered. This session was hosted by our Tomorrow’s Leaders Group and led by Marie Paterson, a seasoned Staff Development Trainer and Coach with expertise in organisational development. It was an excellent opportunity for young professionals to learn together.

Our next one is coming up in September. We're running it slightly differently by featuring ten partners from each of the eight MGI global regions. They will talk about their international experience, their experience within MGI, their career journey and what they've learned. It enables people access to partners around the globe and gives them the opportunity to speak to them and ask any questions.

Due to the expense for firms to send staff to conferences, the idea of Tomorrows Leaders is to build our own networks and get involved with MGI and its benefits without the cost. MGI Worldwide, and the opportunities that it presents, are not widely known about at more junior levels of a firm, so the Tomorrows Leaders group aims to change that awareness. Firms have been supportive in putting forward their employees, as it is viewed as a great retention tool and CPD programme. If firms can offer graduates and managers access to an international network, it’s a great opportunity to learn and helps grow the practice. I was passionate about starting it and seeing how we could make it accessible on a global level.

Learn more about Tomorrows Leaders on the MGI worldwide website here.

Mentoring programmes can have many benefits, including developing future leaders, building confidence and promoting diversity. Reverse mentoring programmes are another tool which can be used, in which an employee mentors someone on the leadership team.

The benefits and impact of mentoring

At Smith Riches, we decided to implement mentoring sessions for all trainees, where we have an informal catch up (coffee/lunch) between their 6 monthly ICAEW reviews. This is an opportunity to chat outside the office about work, life and study so they can raise any issues or ideas they may have. We discuss new or ongoing non-client projects at work and get their perspective on initiatives that the firm could introduce. It also means they have someone who they can build a rapport with on the leadership team.

Mentoring programmes can have many benefits, including developing future leaders, building confidence and promoting diversity. Reverse mentoring programmes are another tool which can be used, in which an employee mentors someone on the leadership team. Some of the advantages of both include promoting diversity, encouraging knowledge sharing, career development and increasing retention rates of staff.

A passion for networking

Most of the opportunities I have been given are through my job at Smith Riches and I am lucky to have found a small, incredibly supportive, accountancy firm who have always helped me in my development. The partners are very open to listening to any ideas or contributions that I have and have always encouraged my development by offering opportunities such as attending the MGI Worldwide conferences, which subsequently led to my role on the Shadow IC.

I recently received the Freedom of the City of London. This prestigious honour, granted by the City of London Corporation, commits me to engaging with the community and supporting charitable endeavours. As a follow on from this, I became a Liveryman of the Worshipful Company of Gardeners. This has been a tradition in my father’s family and this has led me to become involved with the London Children’s Flower Society.

I managed our internal ESG project, resulting in the firm receiving the prestigious ESGmark® accreditation.

Firms should support ESG initiatives

ESG reporting trends have evolved rapidly in recent years, and implementing the software and systems to monitor and collect the correct data can be time-consuming. It is currently gaining a lot of traction  and accountants are increasingly incorporating ESG criteria when preparing financial statements and other reports.

I managed our internal ESG project, resulting in the firm receiving the prestigious ESGmark® accreditation. This is a great indicator to our clients and staff that as a firm ESG is taken seriously, and that we are prepared and passionate about implementing the necessary tools to keep up to date, including monitoring our carbon consumption.

I took the lead on other initiatives, running a very successful campaign for our firm in support of Mental Health Awareness Week. This included hosting a diverse range of workshops for all employees, as well as raising awareness via the firm’s media channels. We have also implemented an Employee Assistance Programme app, which gives staff access to to mental health support, wellness advice and other areas. ESG is an area which employees are increasingly more passionate about, and it is important for staff to see that firms support this.

Build your network by looking to your friends outside of work and researching online for networking groups. This will help you learn and get ideas on how other firms operate. Look to people you find inspiring, whether in your workplace or elsewhere, and think about how they have made a difference and what inspires you.

My advice to help advance your career

My advice is look for areas you enjoy and speak to those within your organisation who are involved or can support you to start something new. If there isn’t anything currently available, look for courses or development programmes you can join to improve your knowledge. Build your network by looking to your friends outside of work and researching online for networking groups. This will help you learn and get ideas on how other firms operate.

Look to people you find inspiring, whether in your workplace or elsewhere, and think about how they have made a difference and what inspires you. Once you know this, you can think about how to incorporate your ideas into your workplace or job role. I believe that if you can find ways to implement your passions into your work, no matter how small, it will be more enjoyable and you will be more productive.

Put yourself out there. I know that comes with time and confidence and I think it's easier to be confident about something when you're knowledgeable about the topic. Partners are usually receptive to hearing new ideas, whether it’s a new initiative or a different perspective, and open to supporting you in implementing it.

Sophie was talking to Adam Munro, Associate Portfolio Director at AJ Chambers. Adam heads up client relationships in London for Audit & Accounts, with a focus towards Top 10 and Top 100 firms. With over 11 years’ experience, he has built relationships with London’s most prominent firms. Adam has assisted hundreds of trained accountants with their career.