TheDebitsandCredits
BetaAlphaPsiandSocietyofAccountingStudentsMonthlyNewsletter
Issue #4. Vol #3. February 2024
Oh,thePlacesYou’llGo:BAPDoesAtlanta!
By: Kaleigh TimmonsOnFebruary8th,ourBAPseniorofficers,KaleighTimmons,MadelynRonan,JohnSheehan,Nina Figetakis,andBriannaKeranne, andDr.Marcy,packeduptwo carsinfrontofBrennanHalland headedtoAtlanta,GAtoattendandpresentattheBAPMid-YearMeeting, Embracing Innovation, Empowering Professionals. After our flight from the Newark Airport to the Atlanta Airport, we visitedRrealTacosforadeliciousdinneroutonthepatio.
PriortothefirstsessionoftheconferenceonFebruary9th,we visitedtheAtlantaBreakfastclubforbrunchandthenheaded to World of Coca-Cola. Here, we explored the fascinating storyofCoca‑Cola–theworld’sbest-knownbeveragebrand. Weenjoyedfunexhibits,includingBeverageLab,wherewe were able to develop and taste our own soda flavors, and Taste It!, were we got to try a variety of different beverages fromdifferentcountriesaroundtheworld.
At the start of the conference, we participated in the Warmth for All service activity, donating socks to those in need. The Plenary session included keynotespeaker,DanielleBrannock,Managerof Internal AuditDataAnalyticsatIntuitiveSurgical,whodiscussed hercareerjourneyandleftusfeelinginspiredandexcited tobringbacknewideasandinformationtoourchapter.
In the afternoon, we broke into groups to participate in a leadership activity where we had to put our communication and planning skills to the test. Some of our members had the opportunity to serve as “auditors” during the activity. We all learned how to work in teams withnewindividualsand adapt. Followingthe leadership activity, we attended two more professional development sessions.Ourofficersattendedsessionscoveringeffective communication,softskills,andnegotiationsskills;ethical decisionmaking;andCPAExamstudytipsandstrategies.
Friday night, we got to go out and exploreAtlanta. WewenttothePuttshackfordinnerandaroundof mini golf. For those who have never heard of Puttshack, it is a tech-infused 9-hole mini golf course,whereyourballtracks yourgameplay,and you can earn (or lose) points based on how you play.Kaleighcameoutontopasthechampion!
On February 10th, the final day of the conference, President, Kaleigh Timmons, and Social Engagement Director, Brianna Kerrane, presented in Chapter Operations on the topic of Engaging Professional Development Activities for Member Retention.Itwasanincredibleexperienceandgave usanopportunityto shareourstrategieswithother BAPchapters.
Toconcludetheconference,weattendedabusiness etiquette luncheon and closing session before heading back to the airport for our flight home. Overall, the conference was an incredible experience for our officers. Every BAP Mid-Year andAnnualMeetingteachesussomuchandallows us to help our Nu Kappa Chapter to continue to flourish.
BAP&SASCalendarofUpcomingEvents
● Mon,3/25,4:30pm(BRN228):CLA– Effective Communication Workshop
● Fri,3/22-Wed,3/27:GertrudeHawkCandyBarFundraiser
● Thu,4/4,5:30pm(BRN228):FORVIS– Navigating the Recruiting & Interview Process
● Tue,4/9,5:30pm(ELH235):ProfessionalCertificationPanel
● Mon,4/8–Wed,4/17(BRN343):Children’sBookDrive
● Wed,4/17(BRN500):BookmarkPartyServiceEvent
● Thu,4/25,5:00pm(BRN228):UWorld– The New CPA Exam
NOTE:PleasecontactNinaFigetakis,BAP&SASSecretary,withanyquestions concerningattendanceandparticipation.
MemberofTheMonth:MeetCharlesHowley!
By: Nina Figetakis
This month, we are featuring one of our First-Year Society of Accounting Students (SAS) members, Charles Howley! Charles is a Finance major in the Frank P. CorcioneBusiness Honors Program from Putnam Valley, NY. In addition to membership in SAS, he is an analyst for PRISM, which is a select group of undergraduate and graduate students who have the responsibility of managing a portion of the endowment fund of theUniversity,andastaffwriterforTheAquinas,Scranton’sweekly studentnewspaper.HeisalsoinvolvedintheWallStreetBootcamp Program whichis atraining program to better prepare students who aspiretocareersinthehighlycompetitivefieldoffinancialservices. This past fall semester, he also participated in both the PwC Case CompetitionandtheFedChallenge.
When askedabout why he chose to become amemberofSAS thisyear, he responded, “Imake a conscious effort to attend the meetings hosted by BAP and SAS to explore the many different careers the major can offer and to learn as much as I can from fellow students and industry professionals.”
WearesohappytohaveCharlesasamemberofSASandcannotwaittoseewhatheaccomplishes hereatScranton!
AlumniSpotlight:Shiqi“Mickey”Zhou
By: Brianna KerraneShiqi “Mickey” Zhou is a successful Scranton Alumnus who graduated with a bachelor’s degree inAccountingin2020,andhisMaster’sinAccountancydegreethe following year. During his time on campus, Mickey was heavily involved in on campus extra-curricular activities. He was a member of the Association of Certified Fraud Examiners (ACFE) student chapter, Commuter Student Association, Institute of Management of Accountants (IMA) student chapter, Business Club, and the Society of Accounting Students (SAS). In his spare time, Mickey played on the ultimate frisbee club team. In his graduate year, Mickey also served as a Graduate Teaching AssistantinKSOM.
Mickey interned with KPMG the summer before his graduate year, working in the audit sector, and received a full time offer after completing his MAcc. However, after spending almost two yearsinpublicaccounting,Mickeydecideditwasnottherightfitforhim.
This past year, Mickey transferred to the Office of the Comptroller of the Currency (OCC) as an AssistantNationalBankExaminer.Thepurposeofhisjobistoexaminenationalbanksandfederal savings associations to ensure they operate properly and safely. His responsibilities include examiningconditionsofnationalbanksandfederalsavingsandwritingupreportsonhisanalyses. Mickey focuses on banks’ capital accounts, earnings, liquidity measures, market risks, applied information technologies, consumer compliance,andassetmanagement.
Mickey just recently returned to Scranton to represent the OCC as part of the Recruiter in Residenceprogramandtalkaboutjobopportunitiesandexperienceshehashad.Heexpressedthe greatamountofinformationhehaslearnedsofarandwhatheislookingforwardtohisfuturewith theOCC.AnyoneinterestedinconnectingwithShiqionLinkedIn.
NavigatingRemoteWorkintheAccountingProfession
By: John SheehanThe landscape of accounting practices is undergoing a transformation, accelerated by the remote work phenomenon spurred on by the COVID-19 pandemic. This shift has reshaped operations, workdynamics,andculturalaspectswithintheaccountingprofession.
The surge in remote work has driven accountants to rely heavily on technology, particularly cloud-based accounting software. This shift allows for real-time financial data management and virtual collaboration with clients, enhancing overall efficiency. However, this transition brings cybersecurity challenges to the forefront, with a report estimating global damages of $6 trillion due to cybercrime by 2021. Robust security measuresareessentialtoprotectfinancialdatainthisneweraofremotework.
Communication has undergone a significant shift with the rise of remote work. Virtual communication tools like video conferencing have become integral, streamlining processes and reducing costs associated with in-person meetings. However, maintaining clear communication and trust in a virtual setting poses challenges. Striking the right balance by leveraging communication tools for professionalism and reliability is crucial for successful client relationships.
The traditional office-centric work culture is giving way to greater autonomy and work-life balance,leadingtoincreasedjobsatisfactionamongaccountants.Remoteworkhasbroadenedthe talent pool, with companies considering candidates from diverse backgrounds. However,
sustaining a positive work culture in a virtual setting requires intentional efforts, such as virtual team building and mentorship programs, to foster a senseofcommunityamongremoteworkers.
In conclusion, the impact of remote work on accounting practices extends beyond the apparent benefits of flexibility and cost reduction. It involves a redefinition of processes, the adoption of technology, and effective communication strategies. As accountants continue to adapt to the new normal, the pillarsofflexibilityandsecuritywillreshapethefutureofaccountingpracticesintheremotework era.
MeettheFirms:Protiviti
By: Madelyn Ronan
Protiviti is a global consulting firm renowned for its expertise in internal audit, risk and compliance,technology, business processes, data analytics, and finance. Protiviti’s core values are integrity, inclusion, innovation,andcommitment.Withapresencespanningover25 countries and more than 85 offices worldwide, Protiviti offers extensive services to clients across various industries. Some industries include asset and wealth management, consumer goods, government, non-profit, payments, retail, private equity, banking and capitalmarkets, and manyotherfirms.
Protiviti offers an array of service lines of interest to our accounting, finance, and business analyticsmajors:
InternalAuditandFinancialAdvisory,including:
o TechnologyAuditandAdvisory
o BusinessProcessAuditandAdvisory
BusinessPerformanceImprovement,including:
o FinancePerformanceManagement
o Financial Reporting & Remediation Compliance
o SupplyChain
o PeopleAdvisory&OrganizationalChange
RiskandCompliance
AtProtiviti,theyarecommittedtoservingtheworldaroundthem.Theybelieveinservingothers throughyourpassions,asateam,andacrossthefirm.Throughouttheirlocaloffices,projectteams
work together to better the community. At Protiviti, employees are supported throughout their journey.Thecompanyiscommittedtoahybridworkenvironment.
The company has consistently earned recognition for its exceptional workplace culture and diversity initiatives. In 2022, Protiviti was honored as one of the Fortune 100 Best Companies to Work for the 8th time. Additionally, in 2021, it was named among the BestWorkplacesforDiversity,WorkingParent, Millennials, and Women. Moreover, it secured the 14th position on the list of Best Workplaces inConsultingandProfessionalServicesandwas includedinthe2021PEOPLECompaniesthatCarelist.
Opportunities available to accounting, finance, and business analytics majors include the following:
Discover: Learn about the firm and a career in consulting, while also networking with Protivitiprofessionalsatalllevels.
o GraduationDate:Applicantsshouldbe2yearsfromtheirfinalgraduationdate.
o Degree:Pursuing a Bachelor’s or Master’s in Accounting, Finance, Computer Science,Engineering,orsimilardisciplines.
o Locations:AllU.S.marketoffices.
o Dates:ThroughoutthemonthofMay(specificdatestobeprovidedbythemarketspecificgraduaterecruitingteam).
o ApplicationDeadline:March31,2024.
o MoreInformation:https://www.protiviti.com/us-en/discover
Proviti Internship: Collaborate with your team to deliver client-focused solutions for complex business problems. Gain knowledge in different industries, grow your technical capabilities,andgainleadershipqualitiesthatwillensureyourfuturesuccess.Eachinternis matchedwithateamofProtivitiemployeeswhoserveasmentoringcontacts.
o Graduation Date:Applicants should be 6-12 months away from their final graduationdate.
o Degree:Pursuing a Bachelor’s or Master’s in Accounting, Business Technology, ComputerScience,Engineering,Finance,orsimilarfields.
o Locations:AllNorthAmericamarketofficelocations.
o Dates:June– August (technical Co-Ops available from June – December for eligiblecandidates).
o MoreInformation:https://www.protiviti.com/us-en/protiviti-internship
Consultant:Beginyourcareerjourneyasaconsultant.
o Graduation Date: Applicants should be approaching their final graduation in the next6-12months.
o Degree:Pursuing a Bachelor’s or Master’s in Accounting, Business Technology, ComputerScience,Engineering,Finance,orsimilardisciplines.
o Locations:AllNorthAmericaMarketOfficeLocations.
o MoreInformation:https://www.protiviti.com/us-en/consulting-experience
For more information on internship and full-time consultant opportunities, please visit:https://www.protiviti.com/us-en/students-graduates If you have any questions or need further information, please feel free to reach out to Keith Hinds, Proviti East Region Campus RecruitingManager,atKeith.Hinds@protiviti.com.
BAP&SASAttendance HonorRoll
Congratulationstothe followingBAP&SAS
Memberswhohave demonstratedperfect attendancethissemester:
CamiaCapalongo
RyanHanley
CharlesHowley
JosephMazich
BrettMcCartney
PaulMeagher
AnnalisaMechanick
PatrickO’Malley
JamesPowell
JesseniaRobles
MadelynRonan
JohnSheehan
JakeSpada
KaleighTimmons
AviannaVoglino
KyleWalsh
Keepupthegoodwork!
AccountingKnowledgeisPower:
By: Ryan Hanley“TheIRS’sNewFreeTaxFilingWebsiteisReadytoUse”
By: Julie Zauzmer WeilTheUnitedStatesInternalRevenueServicerecentlyannouncedthecreationofafreesite allowingindividualsinparticipatingstatestofiletheirtaxreturns.Forthetimebeing,thesite willonlybeoperationalduringshort,unannouncedwindowsoftime.TheIRSdidmentionthat thesitewillbeavailableatanytime,dayornight,inthecomingweeks.
Readmoreat:https://www.washingtonpost.com/business/2024/02/21/irs-direct-file-open/
“ChinaEvergrande'sLiquidatorsPreparetosuePwCoverAudits,FTReports”
By: Reuters, Financial Times WritersFinancialTimesandReutersreportedthatliquidatorsofEvergrandeareplanningtosueBigFour AccountingfirmPricewaterhouseCoopers,overinquiriesinvolvingthecompany’saudits.The reportalsomentionedthattheliquidatorshavenot“unearthedanyevidenceofwrongdoingby PwC,northatalawsuitwascertaintotakeplace.”Evergrande,aChineserealestate conglomerate,issettobeliquidatedafterfailingtorestructurealmost$300Billionindebt.
Readmoreat:https://www.reuters.com/legal/china-evergrandes-liquidators-prepare-sue-pwcover-audits-ft-reports-2024-02-17/
“PCAOB’sSanctionsFourFirmsforViolationsInvolvingAuditCommittee Communications”
By: S.J. SteinhardtThePublicCompanyAccountingOversightBoardplacedsanctionsonfourauditfirmsfortheir failuretofollowstandardpracticeregardingaudit committeecommunications.Thefourfirms finedincludedBakerTillyUSLLP,GrantThorntonBharatLLP(India), MazarsUSALLP,and SWAudit(Australia).
Readmoreat:https://www.nysscpa.org/news/publications/the-trusted-professional/article/pcaobsanctions-four-firms-for-violations-involving-audit-committee-communications-022124
Contact Us!
Faculty Advisor: Dr. Amanda Marcy, CPA – amanda.marcy@scranton.edu
President: Kaleigh Timmons – kaleigh.timmons@scranton.edu
Vice President: Madelyn Ronan – madelyn.ronan@scranton.edu
Treasurer: John Sheehan – john.sheehan2@scranton.edu
Secretary: Nina Figetakis – nina.figetakis@scranton.edu
Social Engagement Director: Brianna Kerrane – brianna.kerrane@scranton.edu
Junior Officer: Ryan Hanley – ryan.hanley@scranton.edu
Email: uofsbap@gmail.com Instagram: uofs_bap_sas
It’sClassifiedInformation
BecomeaPICPAStudentAffiliateMember:IT’SFREE!UsetheQRcodebelowtoaccessthemembership application. Ifyouhaveanyquestions,pleasecontactourPICPAStudentAmbassador,KaleighTimmons, atkaleigh.timmons@scranton.edu
Scan Here to Apply!
Deadline: April 10, 2024!
Applyat:https://www.picpa.org/future-cpas/scholarships-awards
BecomeanAICPAStudentAffiliateMember:IT’SFREE!Usethefollowinglinktoaccessthe membershipapplication: https://www.thiswaytocpa.com/join_aicpa/.
Application Deadline: April 30, 2024
Applyat:https://www.efwa.org/scholarships.php
Applyat:https://accounting.uworld.com/cpa-review/our-difference/cpa-review-scholarship/
