The ECU ACCOUNTANT Fall 2017 THE CHAIRMANS REPORT STUDENT NEWS IN OTHER NEWS ALUMNI NEWS FACULTY NEWS UPDATE YOUR INFORMATION --- THE CHAIRMANS REPORT Greetings! Its been a busy year in the Accounting Department. As you may have heard, we had a tragic loss in January when one of our faculty members, Becky Fay, died as a result of car accident. We lost a rising star and we all miss her every day. We have nearly 400 students enrolled in our undergraduate program and about 80 enrolled in our MSA program. More than 40 accounting students received internships, scholarships, or other awards this academic year, and our faculty published seven articles in peer-reviewed journals, along with updating CPE courses and a textbook. In addition, our students and faculty continue to serve our community by preparing meals for Greenville Community Shelter, participating in the CPA Day of Service, and assisting various non-profits such as NC Packs 4 Patriots, an organization that packs and ships care packages to troops deployed overseas. Dr. John Reisch, Chair Department of Accounting Last year, I made a commitment to ensure that our students have the skills and technical knowledge to be successful in the workplace. A recent article published in the AICPAs Journal of Accountancy describes some of the skills the largest accounting firms expect graduates to possess.1 They include: plans to pass the CPA, comfort with technology, and strong communication skills. Our MSA program is designed to address each of these. The unique-to-us conduct of seminars on financial accounting, auditing, and regulation during a students final semester allows them to concentrate on developing the skills necessary to prepare for and take the four sections of CPA Exam prior to graduating. Most all of our graduate-level classes include computer application-based assignments, students can earn a certificate in data analytics by incorporating a suite of four Management Information Systems classes in their graduate program, and many of our graduate-level courses have significant written communication components. We are continuously updating and improving our course content. To that end, your input is greatly appreciated. Please feel free to drop me a note about any suggestions you have to improve our programs. We continue to need your financial contributions to help fund student activities such as Beta Alpha Psi and the Student Accounting Society, faculty travel for research activities, and to supplement state-provided funds for salaries. Your contributions help us attract the best and brightest students and professors. Donations can be made at https://onestop.ecu.edu/onlinegiving/. Our big recruiting event, Meet the Firms, will be held at Dowdy-Ficklen Stadium – Club Level on Thursday, September 14, 2017. I hope to see you there! Sincerely, John reischj@ecu.edu 252-737-1051 1 Ovaska-Few. 2016. What large firms expect from new accounting grads. Journal of Accountancy (March). Available at: http://www.journalofaccountancy.com/issues/2017/mar/what-large-cpa-firms-expect-from-new-graduates.html --- Alumni News Alumni Spotlight – Jerry Wilson ( MSA 05 ) Jerry Wilson, CPA, is an international tax partner with RSM US LLP in Raleigh. Jerry started with RSM as a tax associate after graduation in 2005. After three years of doing general tax compliance and consulting, he was given the opportunity to focus on international tax and has been specializing in this area for the last nine years. Jerry now oversees the international tax compliance and consulting function for RSMs offices in North Carolina, Georgia, Alabama and Florida. When hes not working or hosting CPE seminars with ECU professors (see below picture with Dr. Cal Christian), Jerry enjoys spending time with his family – wife Katie, son Worth (6), daughter Mac (3) and daughter Woodley (6 months). As an eastern NC native (Jerry is originally from Scotland Neck), he tries to get back home as often as possible to enjoy many of the things that eastern NC has to offer. Jerry also tries to get back to ECU as often as possible where he plans to take a more active role in RSMs recruiting. We caught up with Jerry earlier this year and asked him for a post-graduation update. What do you like best about your current job? Without a doubt, the best part of my job is getting to work and build relationships with different people from a variety of cultures and backgrounds around the world. In RSMs U.S. offices, I am surrounded by a number of interesting and talented teammates from both the U.S. and abroad who are all working together as a team to serve our clients. This not only includes my direct tax colleagues, but members of our audit and consulting teams as well. In addition to my local colleagues, I really enjoy working with our clients, some of whom I have worked with for more than 10 years. Weve developed great bonds that go well beyond our business relationships. Finally, in my international tax role, I get work with colleagues from many of our member firms outside of the U.S. – notably Germany, the United Kingdom, China, Australia, Brazil and the Netherlands. Aside from serving clients together, Ive had the opportunity to get to know many of these individuals on a more social level and its always interesting to learn more about our different backgrounds. How did your experience at ECU prepare you for your career? While I had many great experiences at ECU that helped prepare me for my career, Ill focus on two specific areas that I consider the most influential. The first is that ECU provided me with a practical education that allowed me to hit the ground running when I started with RSM. Many of our tax assignments in the MSA program consisted of actually preparing business tax returns or writing tax memorandums. In this regard, we were taught what to do with the accounting or tax knowledge we were gaining. When I started with RSM, I felt as though I was well ahead of some of my colleagues who had been given a more theoretical knowledge-base but were struggling to translate that into the ability to actually do the work. The second, and possibly most valuable, was ECUs focus on preparing you to take and pass the CPA exam – preferably before starting your new career. I believe my graduating class was the last to take courses before the official establishment of the block scheduling system, but the professors at the time were already teaching in a manner and structuring classes around passing the exam part by part. I was fortunate in that I took full advantage of this and was able to pass all four parts of the exam before starting with RSM. I cannot emphasize how much of an advantage having the CPA exam behind is you when you start working. You almost automatically earn the respect of your peers and mentors for taking ownership of your career so early on. More importantly, you are able to focus on your new role without having to worry about studying for the exam. I can remember during my first few busy seasons feeling thankful for the time that I gained by passing the exam early and not having to study at night after finishing a long day in the office. I was extremely grateful that after working a 12 hour day – in tax accounting – that I was able to go home and not have to study accounting for 2-3 more hours! What advice do you have for todays accounting students? Three things quickly come to mind. As discussed in my prior response, I cannot emphasize enough the importance of getting the CPA exam out of way as soon as possible – preferably before starting your first job. For many students, this will be their first full time job and the demands of public accounting can be quite surprising – and overwhelming. Do yourself a favor and really focus on making the CPA exam a priority. Second, when you get in your new role, there will be a lot of times where youre given a workpaper and told to complete it based on last years workpaper. Take the time to really understand the “what and why” of what youre doing; do not just go through the motions. If you want to truly succeed in your career, you have to understand “why” things are done. Last, go abroad - early! In todays business environment, more and more companies are becoming international in one sense or another. International experience of any kind can give you an advantage or added skill set. If youre interested in working abroad, let someone know early in your career (or even pursue this while still in school). The further along you get in your career (and personal/family life), the more challenging it can be to make a move overseas. I know from experience! --- Alumni Updates In the spirit of, students follow in professors footsteps, we are proud to report that Davidson Gillette (MSA ‘12) was accepted into University of Alabamas Ph.D. program. Davidson joins a host of ECU grads that have joined his professors in academia including, Ashley West (MSA 12) who is in the Ph.D. program at Texas Tech, Kevin Hale (MSA 12) in Virginia Techs Ph.D. program, Christina Lewellen (MSA 07) who is at NC State and earned her Ph.D. at Florida State University, Zhan Furner (MSA 04) earned her Ph.D. at Texas Tech and we are proud to report, will be joining the ECU faculty this Fall, Alan Stancill (BSA/MSA ‘99) who completed his Ph.D. at Virginia Tech and is now an Assistant Professor at Mississippi State University, Wendy Walston Achilles (BS 94) who teaches at several institutions and earned her Ph.D. at Virginia Commonwealth, and of course our very own, Dr. Linda Quick (MSA ‘05) who earned her Ph.D. at University of South Carolina. Josh Anderson (BS ‘11) is a Senior Financial Analyst for MercuryGate, a software company focused on logistics and transportation management solutions located in Cary. After completing an internship with ECU Accounting Services, Anthony Bechtel (MSA ‘16) was hired by Accounting Services as a temporary employee, and recently became a permanent employee. Persistence pays off! Jolinda Boelkins (BS 84) is an accountant with Brookstone Schools of Mecklenburg County, a K-8 private Christian school for inner-city children. Kimberly Braxton (BSA 89) has been asked to serve as the 2017 Chair of the Greenville-Pitt County Chamber of Commerce. Kimberly works in Greenville where she and Benjamin (Bennie) Hardy (BSA 89) are co-owners (with another CPA) in the accounting and tax practice, Page & Smith, PA. After 15 years of service at Overtons, John Daigle Jr. (BS 99) will be the Chief Operating Officer of Grover Gaming, Inc. in Greenville. Cameron Donaldson (MSA ‘16) is an Audit Associate with Dixon Hughes Goodman. M. Scott Fedyshyn (MSA ‘04) recently passed the CFP exam. Scott owns Watson, Fedyshyn & Associates CPAs in Boiling Springs. He will use his new credentialing to expand the firms service offerings to include financial planning, retirement, insurance, and investment consulting. Scott says hes always looking for new hires! Karen Flanary (BS ‘87) recently accepted the position, Core Technology and Cloud Account Manager for Oracle Corporations clients in North Carolina and Virginia. Jomondre Frink (BS 03) has been busy consulting since graduation. He is currently an IT Director/IT Business Partner for Randstad North America, the 3rd largest global staffing company in the world. Charles Gimseys (BSBA 80) article, “Forensic interviews: plan to succeed” published in the August 2015 issue of the Journal of Accountancy received the JOAs prestigious Lawler Award. Charles Gouge (BSBA 90) is now VP of Sales and Marketing for ERISApedia.com where he works with CPAs and other ERISA professionals. Norman (George) Harris, Jr. (BS 75) retired last year after 25 years with Ecolab, as Vice President of Finance for the Services and Specialty Sector. Together with her husband, Rusty, Debbie Jackson (MSA ‘13) welcomed a baby boy, Waylan Wayne, into the world. Debbie also began a new position as a Senior Internal Auditor with UNC Health Care. After moving to PricewaterhouseCoopers London office in July 2016, Katie Koop (BS 10 – pictured right) was offered and accepted a secondment. She will live in London until July 2018. In December 2016, Lisa McCaffity (BSBA 08) and her husband purchased an accounting firm located in Cedar Point. Robby Manning (MSA 10) is now working at Greenville Utilities as a Natural Gas Analyst. James Parsons (MSA 16) is an auditor with KPMG in Norfolk, VA. Chuck Powell (MSA 10) recently accepted a full time Instructor position at Wake Tech teaching accounting and corporate finance. Chuck says hes looking forward to taking what he learned at ECU to make his classes both a great learning experience and fun! Hannah Reams (MSA 16) is a staff accountant with Robinson Farmer Cox Associates in Blacksburg, VA. Stephanie Rose (MSA 13) recently accepted a position at BDO. Temporarily working in Anchorage, Alaska for Alyeska Pipeline Service Company, Samantha Ruppert (MSA 16 – pictured left) begins working this fall as a Financial Services Assurance Associate for Ernst & Young in McLean, VA. Collin Scott (MSA ‘15) recently completed his first year at HPG, LLP. Steven (Braxton) Sumner (MSA ‘16) is an Associate at Butler & Burke LLP in Winston- Salem. Maurice Thompson (MSA 15) reports he is working at Ernst & Young in Winston-Salem. Moving to Austin, TX, Neena Wanko (MSA 15) works as an auditor at DK Partners. John (Will) Yelton (MSA ‘16) is now working at the North Carolina Department of Revenue as a Tax Auditor. Many alumni reported successfully completing the CPA exam including Collin Scott (MSA 15), Jennifer Curington Smith (MSA 16), Maurice Thompson (MSA 15), and Neena Wanko (MSA 15). Congratulations! If we left you out of this years updates, please send news you'd like to share in next years newsletter to Dr. Denise Dickins (dickinsd@ecu.edu). We look forward to hearing from you! --- Key Contributors Many thanks to the individuals and organizations who have contributed financially to the success of our accounting students, faculty, and programs. You can make sure your donations benefit accounting students by making an online donation – and designating the Department of Accounting. The following individuals and organizations contributed at least $100 to the Department of Accounting or to Accounting Student Scholarships during the period January 1, 2016 to December 31, 2016. If an individual donated through their organization, they may not be individually listed below. Tracey Hill Allen Rose L. Bailey Bank of America Sequoya Santana Borgman Donna Corsaro Boyette David J. Bradley Rachel Lindsey Brassine Stephen Anthony Brown Leslie Gray Bunch Deborah Goodson Bunn David Mitchell Burns Eugene G. Chewning Andrew LaVar Coleman Charles Raymond Cooper Cozart & Edwards, P.A. Willie Ray Creech Lisa Nicole Crouse John Morris Davis Denise E. Dickins Dixon Hughes Goodman Foundation Inc. John Wesley Dostert Edwin A. Doty Ernst & Young Foundation Richard Scott Grady Grant Thornton Foundation Anne Gregg Kenneth M. Gunn Terri S. Guy William Andrew Haddock Meredith Anne Hardison Keri Shaffer Hayes Margaret Mitchell Henry Lisa Bunch Hunter Toni Alligood Jennings Jeffrey Thomas Joyner Scott Edward Kozel KPMG Foundation Debra Ann Lancaster Allen Dale Lee Luther Gary Leonard Rachele Manansala Freda Diana McBride Mark G. McCarthy Charles Lee McGimsey Roosevelt Morton Linda Golden Murphy David Rhett Nance James D. Nance NC Association of CPAs Terry Pritchard Ng Robert D. Norman Joe Frank Ogburn Jay Arthur Parris Piedmont Natural Gas Company Linda Rusnak Quick Joseph Reginald Reeves John T. Reisch Timothy Ryan Rowland Charles Edgar Sams John Bruce Satterfield Dan L. Schisler Douglas Kenneth Schneider Sheri Small Thomas Churchill Swanner John Patrick Taylor Lowell Godwin Taylor Toni Mari Thereault Robert Earl Thompson Neena Pauline Wanko John Randolph Wiley Jennifer Worsley Richard Killian Worsley --- Student News Featured Student – Rebecca Wagner Rebecca Wagner is a member of the ECU Honors College, Beta Alpha Psi, and Beta Gamma Sigma. Committed to a lifetime of service, Rebecca has volunteered over 540 hours in the community and on campus as an official ECU Ambassador. She attended the NCACPAs Leadership Conference and is working with Drs. Linda Quick and Dennis OReilly on a research project presented at ECUs Research and Creative Activities Week and the COBs Leadership Conference. Rebecca is also employed at ECU Transit where she started as a Bus Operator, but quickly advanced to Supervisor and Payroll Coordinator. We asked Rebecca to share her thoughts about her university experience. To what or whom do you attribute your success? I attribute my success to the many opportunities I was presented with at ECU. The numerous events, activities, and programs I attended have helped me to grow academically and socially. Although the information you learn in the classroom is valuable, you are only learning some of the skills that will be needed for a successful career. The opportunities that ECU has in place for students outside of the classroom help develop their leadership, communication, and networking skills. I believe that I have become a better student and business leader as a result. Who at ECU has influenced you the most? Although many people at ECU have influenced me, Dr. Linda Quick has influenced me the most. As my professor for financial accounting during my first year at ECU, Dr. Quick was the first teacher to demonstrate and expose me to a love of accounting. She has mentored me throughout the program from learning about accounting and accounting research, to giving me advice during the recruiting process. Her constant feedback and guidance, including reviewing my resume and helping me prepare for interviews, shows how much she cares about helping students be successful. What are your post-graduation plans? After graduation in May 2017, I am participating in an internship with Ernst & Young in the Washington, D.C. area. In the fall, I will return to ECUs College of Business to complete the MSA program. During the program, I plan to earn my CPA license and hope to have a career in public accounting. --- Accounting Honorary Fraternity and Societies We are grateful to all the firms and individuals who sponsor ECUs Accounting Honorary Fraternity and Societies including but not necessarily limited to: Becker Professional Education, Dixon Hughes Goodman, Ernst & Young, Hughes Pittman & Gupton, RSM, and Tatum & Edwards. Beta Alpha Psi A total of 48 accounting majors were inducted into BAPsi during the 2016/2017 academic year. Pledges and inductees attended numerous BAPsi meetings, presentations, and events including those by Becker CPA Review, Dixon Hughes Goodman, ECU Internal Audit, Ernst & Young, Grant Thornton, Hughes Pittman & Gupton, KPMG, RSM, and Wall Einhorn & Chernitzer. BAPsi members also volunteered at NCPacks4Patriots and helped students taking introductory accounting courses by volunteering at the Academic Success Center. New BAPsi officers assumed office in January, 2017. They are: President - Jessma Thomas, Treasurer/Secretary - Katelyn Metcalf, and Vice Presidents - Rachel Eker and Sarah Glave. Pictured left are the officers who, along with Dr. Schneider attended a regional meeting of Beta Alpha Psi in Raleigh. Each summer officers attend the Annual Meeting, this year held in Anaheim, CA. Drs. Schneider and Hagan serve as faculty advisors for BAPsi. You can visit the ECU BAPsi Chapters Facebook page at: http://www.facebook.com/ECUBAP. (l-r): Glave, Thomas, Schneider, Metcalf & Eker Student Accounting Society In addition to the NCACPAs Student Speed Networking Event (pictured right), SAS members heard presentations by representatives of Southern Bank and Grant Thornton, and also participated in community events helping with roadside clean-ups and volunteering at a local Community Shelter helping to feed individuals that might otherwise go hungry. SAS Officers (pictured left) for the 2016/2017 academic year were: Cheryl Mason - President, Lane Pennell – Vice President, Austin Hobson – Secretary, and Katie Lyonnais – Treasurer. If you are a student and would like to learn more about SAS, visit the SAS Facebook page. If you are a prospective employer willing to speak at an upcoming SAS meeting, contact one of the SAS faculty advisors, Dr. Linda Quick or Mrs. Rachel Brassine. (l-r): Hobson, Pennell, Mason, Lyonnais --- Student Recognition Ana de Pedro (pictured left) was recognized by the Accounting Department as this years Outstanding Senior. Holly Perry (pictured right) is this years Howard Award recipient. Harrison (Tyler) Schodt was one of only ten students selected nationwide to receive an RSM US Foundation Power Your Education Scholarship. As part of the scholarship, Tyler was also invited to RSMs summer externship program. Holly Perry, Brandon Holloway, Sarah Glave, and Rebecca Wagner (pictured below) were each awarded an Accounting Faculty Scholarship. These scholarships are awarded through funds raised through a partnership of the NCACPA and the accounting faculty. Scholarship recipients are provided with full tuition and fees for up to three semesters in the MSA program – a value of over $13,000 per student. For more information about these scholarships, see the “In Other News” section of the newsletter. Other accounting students receiving scholarships this year included: Caroline Clark, Marissa Flood, Austin Congleton, Syun Hasebe, J. Austin Hobson, Mamie Kerr, Cheryl Mason, Cheryl Oliver, Lane Pennell, Nicolette Phillip, Emily Price, Adrian Scott, and Kaylee Spruill. A number of ECU accounting students were fortunate to receive internships this year. Included are Tommy Brehm at Boy Scouts of America, Meredith Butz at J. B. Murdoch Insurance Group, Aryssa Ciuffo and Rachel Eker, both at Dixon Hughes Goodman, Rachel Hill at ECU Accounting Services, Lane Pennell at ECU Athletics, Katelyn Metcalf and Rebecca Wagner at Ernst & Young, Mamie Kerr at Frontier Spinning Mills, Max Belsinger at Hughes, Pittman & Gupton, Karissa Cahoon at Hutchins Canning & Company, Sarah Glave, Colson Herndon, Brandon Holloway and Nicolette Phillip, all at KPMG, Kaylee Spruill and Jessma Thomas, both at RSM, and Michael King at USA Baseball. (l-r): Perry, Holloway, Glave & Wagner Picture right are accounting majors Sarah Glave and Zach Willon who, along with the two other students, competed in the regional finals for the Hult Prize in San Francisco. The Hult Prize Competition is intended to promote entrepreneurship among this generation. The students challenge was to create a sustainable social enterprise that benefits the refugee crisis. Maddison (Maddie) Hollar has been invited to attend Dixon Hughes Goodmans 2017 Summer Leadership Conference. The following accounting majors were inducted into Beta Gamma Sigma during the 2016/2017 academic year: Sumeet Agarwal, Mary Bradford, Meredith Butz, Danielle Carr, Sarah Cherry, Justin Delise, Malia Ervin, Karena Fenick, Marissa Flood, Diana Garcia Correa, Connor Guiheen, John Hobson, Kyle Huffman, Charity Johnson, Dylan Kruesi, Hayden Lanier, Kelly Monahan, Rhyanna Nicol, London Paulson, Anderson Potter, Faith Roberts, Samantha Ruppert, Ana Sebastian, Mary Sherrod, Tyler Small, Rebecca Wagner, Bennett Yeargan, Xin Yin, and Austin Yount. (l-r): Zach Willon, Sarah Glave, Destin Casto & Talal Hammad --- Student Athletes Over the years a number of our accounting students have been able to combine their success in the classroom with success on the athletic fields. This year is no different. While the rigors of the accounting curriculum, along with the challenges of being a Division 1-student athlete isnt for everyone, this year five accounting majors have taken on the challenge and are succeeding. They are: Brittany Fary, Morgan Halo, Andrew Henrickson, Logan Wood, and Betsy Zurawel. As an avid softball fan, Dr. Cal Christian is always recruiting players to the program. This year, two of his recruits are in the accounting program. They are Morgan Halo, a sophomore from Sophia, NC, and Logan Wood, a freshman from Yadkinville, NC. Representing ECUs soccer team is rising senior, Brittany Fary from Centreville, VA; and Junior, Andrew Henrickson from Fayetteville, represents the accounting department on ECUs pre-season #6-ranked-in-the-country baseball team. As the Faculty Athletic representative, Dr. Christian is able to develop a unique relationship with many of the student-athletes. He jokingly notes that Betsy Zurawel (pictured right), a senior on the womens tennis team from Raleigh, is one of his favorite students. “Betsy has enrolled in two of my accounting classes and then when she finds out that I am the professor, she always seems to transfer to another professor!” --- Faculty News Research Corner As summarized in the Just Published section below, our faculty are active publishers of research. Weve included a few summaries of recently-published studies that we thought might be of interest to our alumni. Do Experienced Auditors have a Bias for Confirmatory Audit Evidence? In this study, published in International Journal of Accounting, Auditing and Performance Evaluation, Drs. Dennis OReilly and John Reisch found that experienced auditors tend to select more confirmatory evidence after receiving positive information from an audit partner compared to receiving the same information from a clients CFO. Specifically, when evaluating the adequacy of a clients allowance for doubtful accounts, the auditors tended to more heavily weight information which was consistent with the allowance balance when that information was received from the audit partner, than when the same information was received from the CFO. They also found that experienced auditors selected more confirmatory evidence when the CFO provided negative information relative to when the CFO provided positive information. This is both good news and bad news. The good news is that experienced auditors do not appear to over-weight client-provided, positive confirmatory evidence. The bad news is that any sort of bias is contrary to the charge that auditors maintain an attitude of unbiased professional skepticism. Reporting of Discontinued Operations: Past, Present, and Future In this article, published in The CPA Journal, Drs. Denise Dickins, Mark McCarthy, Dennis OReilly, and Doug Schneider discuss the issuance of ASU 2014-08 and its expected impact on accounting for discontinued operations. They observe that FASB has almost done a full circle in terms of reporting discontinued operations. Under the original guidance (APB No. 30), items qualifying for discontinued operations “below-the-line” reporting treatment were few. The subsequently issued, SFAS No. 144, significantly expanded items qualifying as discontinued operations. ASU 2014-08 is a return to more conservative accounting with the expected result being that far fewer companies will report discontinued operations. The Drs. conclude, “As more and more unusual items are classified as part of income from continuing operations, the ability for managers to opportunistically classify items and smooth earnings will be reduced.” --- Just Published Rose Bailey, LL.M., Esq. published “Permanently extended provisions – Path Act and tax credits,” “Employee classification case with successor in interest issue,” “Tax court interpretations of income characterization,” and “Self-directed IRA tragedy,” all in Construction Accounting & Taxation. Dr. Cal Christian updated CPE courses “North Carolina Accountancy Law: Ethics, Principles and Professional Responsibilities,” and “Professional Ethics and Conduct.” Dr. Denise Dickins published “COSO 2013: Aligning internal controls and principles” in Issues in Accounting Education, “Financial literacy within the family firm: an exploratory examination and opportunity for learning” in Journal of Applied Management and Entrepreneurship, “The COSO 2013 Framework: Was adoption in 2014 an indicator of internal control quality?” in Tennessee CPA Journal, and “Five tips to enhance students (and instructors) experiences in on-line classes,” in Accounting Instructors Report. Drs. Mark McCarthy, Dennis OReilly, Doug Schneider and Denise Dickins co-authored “Discontinued Operations Reported by the Energy Sector: The Expected Impact of ASU 2014-08” published in Oil, Gas, and Energy Quarterly, and “Reporting of Discontinued Operations: Past, Present, and Future” published in CPA Journal. Drs. Dennis OReilly and John Reisch published “Do experienced auditors have a bias for confirmatory audit evidence? in International Journal of Accounting, Auditing and Performance Evaluation. Drs. Rick Niswander and Dan Schisler updated their textbook, Fundamentals of Taxation – now in its 10th Edition. Copies of all of the studies mentioned in this newsletter are available upon request. --- Professional Service Activities Our accounting faculty members continue to help advance the missions of the AICPA and NCACPA, among other organizations. Rose Bailey, LL.M., Esq. ended her four year term as the Chair of AICPAs CPA Exam Regulation Subcommittee and a member of the AICPAs CPA Exam Content Committee at the end of 2016. Dr. Cal Christian recently completed a three-year term on the NCACPA's Student Outreach, Advancement, and Recruitment Committee. Dr. Rick Niswander, Vice Chancellor for Administration & Finance, serves on the AICPA Board of Directors. Dr. Denise Dickins has been appointed vice-chairperson of the American Accounting Associations Auditing Standards Committee. Among other things, the Committee interacts with various auditing rule-making entities and prepares comment letters addressing proposed auditing rules. --- Faculty Recognition and Awards On Friday, March 17, 2017 the Pirate Academic Success Center at ECU hosted a lunch for faculty members and student crew members. Two accounting majors who serve as accounting tutors, James Gainey and George Bagley, nominated Dr. Doug Schneider as a faculty member who has made a significant difference in their experience at ECU. The Pirate Academic Success Center provides tutoring and other support services to ECU students to enhance academic success. ECU ranked No. 16 in BYUs 2016 Accounting Research Rankings for publication of Educational Accounting Cases over the last 6 years. Also individually ranked are Dr. John Reisch (No. 7 over the last 20-years) and Dr. Denise Dickins (No. 17 over the last 6-years). These rankings demonstrate the Accounting faculty's dedication to teaching and pedagogical research. (l-r): James Gainey, Dr. Schneider, George Bagley --- In Other News Meet the Firms The following firms are expected to participate in Meet the Firms on Thursday, September 14, 2017 at Dowdy-Ficklen Stadium – Club Level, 6:30-8:30 PM: Becker, CRI, Dixon Hughes Goodman, Ernst & Young, Hughes Pittman & Gupton, KPMG, Langdon & Company, and RSM. If you or your company would like to reserve a booth and participate at this years event, please contact Dr. John Reisch (reischj@ecu.edu). All accounting students are encouraged to attend! CPA Exam Field Test Thanks to the efforts of Dr. Doug Schneider, ECU continues to serve as one of the few host schools in the country for the CPA Exam Field Test. The Field Test is operationally identical to the actual CPA Exam, so students learn how to navigate the exam platform. They also get to practice questions that could be similar to what later appears on the actual CPA Exam. This years two conducts of the Field Test (November 2016 and April 2017) included questions from the Financial Accounting and Reporting (FAR) and Auditing and Attestation sections of the CPA Exam which were directed toward the AICPAs goal of developing questions that test higher-order thinking skills, professional skepticism, sufficiency of audit evidence, and accounting worksheet completion. ECUs MSA program continues to be committed to helping our students succeed on the CPA Exam. A total of approximately 70 students (pictured in two photos at right) participated in this years events. NCACPA CPE Courses One of the NCACPAs greatest services is its comprehensive curriculum of CPE and since 2010, the ECU accounting faculty has teamed up with the NCACPA to offer online ethics CPE courses. Through this partnership, a percentage of the revenue generated benefits ECU students enrolled in our MSA program that plan to pursue a career in public accounting. Since the partnerships inception, 17 students have received these full-ride scholarships - collectively valued at over $230,000. This years Accounting Faculty Scholarship recipients are reported in the “Student News” section of the newsletter. You can help ECU students by taking your annual ethics CPE on-line through the NCACPA (available at: https://ncacpa.inreachce.com/). College MAP Summer Camp Stephen Watson (BSBA ‘11, MSA ‘13) in the Charlotte office of E&Y worked with Karen Kus in the College of Business to bring the College MAP Summer Camp program to ECU during the 2016 summer. The camp was a success and included high school students from Charlotte, NC and Richmond, VA – some of whom are pictured left with Dr. Cal Christian (center). The students were exposed to many of the offerings of ECU and were housed in the new Legacy Center. The College MAP Summer Camp program is a joint initiative of Ernst & Young, College for Every Student, and ECUs College of Business. The goal of this collegiate summer camp program is to provide support to underserved students as they consider and work toward their dream of higher education. The camp experience helps students better navigate the college application and financial aid process, provides access to resources, and exposes them to the benefits of higher education. Some of this years MAP Camp highlights included lunch with ECU Head Football Coach Scottie Montgomery, an etiquette dinner, a college classroom experience and closing remarks provided by Dr. Rick Niswander, ECU Vice Chancellor of Administration and Finance. In Memory This year we lost two of our own to separate traffic accidents, Assistant Professor, Dr. Rebecca Fay, and recent graduate, Zeke Sigler. In their honor, we have renamed two of the four Accounting Faculty Scholarships, The Rebecca Fay Accounting Faculty Scholarship and The Zeke Sigler Memorial Scholarship. Dr. Becky Fay Becky came to ECU in 2011, the same year she received her doctorate in business from Virginia Polytechnic Institute and State University. Before joining ECU, she worked as an audit manager for Cherry Bekaert, an accounting firm headquartered in Richmond, Virginia. She received her bachelors and masters degrees from Liberty University. In 2016, Fay received the Innovation in Auditing and Assurance Education Award from the American Accounting Association. She received the College of Business Scholar-Teacher Award in 2015 for the outstanding integration of research in the classroom. She served as a faculty advisor of Beta Alpha Psi and Beta Gamma Sigma. Faculty and students describe Becky as “very talented and dedicated to her work” (Dr. John Reisch), “devoted to her family” (Dr. Doug Schneider), “one of the stars of the college [of business]” (Dr. Stan Eakins), and “a great professor who really enjoyed seeing her students excel” (anonymous student). Becky is greatly missed by her students and colleagues. She leaves behind her husband, Patrick Fay, who is the marketing and communications manager for ECUs enrollment services, and their two children, Erin and Wilson. 1 --- 1 See:http://www.newsobserver.com/news/local/education/article124548629.html Zeke Sigler The NCACPAs website may best describe Zeke. It says, “Every once in a while, you meet a young person who just seems to, well…stand out among the crowd. Zeke Sigler was just that.” Remembering Zeke, Dr. Cal Christian said, “As faculty members, we all have the opportunity to meet a lot of students and we develop unique relationships with many of our students. A few particularly standout. For me, Zeke was one of those students. I first met Zeke in the spring of 2014, in my Intermediate I class. Zeke immediately impressed me. I encouraged him to attend the NCACPAs Summer Leadership Institute and he jumped at the opportunity. That is what Zeke did whenever an opportunity presented itself - he jumped right in. I am so honored that we will always be able to remember Zeke and what he stood for by awarding a deserving MSA student the Zeke Sigler Memorial Scholarship which will pay their graduate school tuition and fees while at ECU.” In addition to excelling academically, Zeke served on the NCACPAs Student Outreach, Advancement, and Recruitment Committee. Zeke was passionate about becoming a CPA and was devoted to helping other students in their journeys towards becoming CPAs. After a successful internship with E&Y, Zeke accepted a full-time position in EYs Charlotte office and he continued to be active in the NCACPA. In Zekes honor the NCACPA has established The Sigler Standout Student Award which will annually go to a student “who best exemplifies the ‘standout qualities that Zeke embodied.” Stay Connected! Stay Connected! www.ecu.edu/business/connect www.ecu.edu/business/connect Update Your Information View Stocknotes Issue Support the College Connect Online East Carolina University College of Business Department of Accounting www.ecu.edu/business/acct