ACCY Update
From the Department Head
“ Your successes propel us forward, and your support and collaboration help us thrive.”
reaccreditation process with the Association to Advance Collegiate Schools of Business (AACSB).
Our degree programs were also reviewed by external peers on behalf of the Office of the Provost at both reviews were a success
accreditation for our programs over the summer, and we received substantive feedback that the Department of Accountancy at Illinois provides a quality and scope of research, curriculum, and academic programming that is unmatched by other institutions. That sentiment is something we’ve felt and touted internally for years, but it was extremely validating to have it endorsed through both the AACSB and Office of the Provost review processes.
Those reviews were sweet enough victories themselves, but the triumphs didn’t stop there
Our department also received the top spot in two categories (described later in this issue) from Brigham Young University’s Accounting Rankings – a project that examines the quality, breadth, and relevance of institutional research related to the accounting profession.
What we’ve achieved in the last year is incredible – but we won’t rest on our laurels. I’m excited to keep delivering on our promise to lead the world in accountancy education and thought. And to do that, we’ll keep doing what we already do well, with a focus on bringing continued value to you, our esteemed alumni, faculty, staff, and friends.
Your successes propel us forward, and your support and collaboration help us thrive. So we continue to work to find ways we can give back to you, whether through project collaborations, signature events, or simply telling your story. In the year to come, we hope to find even more ways to say thank you for all you’ve helped us achieve.
Sincerely,
Michael Donohoe Head, Department of Accountancy
Irwin Jecha Distinguished Professor in Accountancy
Shaping the accounting profession alongside alumni
Accountancy at Illinois has helped shape, define, and advance the accounting profession for more than a century. But this work doesn’t happen in a vacuum. The personal successes and generosity of our alumni uphold the reputation of the department and keep its programs strong.
Kelly Hunt (ACCY ’00) was recently designated CEO of Farm Credit Illinois. She previously served in other leadership roles for the organization and will step into her new role in January 2025.
Hunt also serves on the external advisory board for the Department of Accountancy, donating her time and expertise to our mission. Her partnership is just one example of how leaders who were shaped by this department are now helping shape and lead it. And in turn, our department contributes resources and expertise back into the profession. For example, Head of Accountancy Michael Donohoe serves on the board of directors of Farm Credit Illinois.
Faculty and staff promotions
Michael Donohoe’s Investiture Ceremony
November 8, 2:00 pm CT Watch the livestream: go.gies.illinois.edu/ DonohoeLivestream
Donohoe has produced a significant volume of tax and accounting research, has been named a Top 50 Undergraduate Business Professor by Poets&Quants, received an Outstanding Educator Award from the Illinois CPA Society, and served as an editor for The Accounting Review. This fall, the College will celebrate him with an investiture ceremony, where he will be installed as the Irwin Jecha Distinguished Professor in Accountancy.
Donohoe’s investiture represents another critical way in which our alumni help lead the world in accountancy education and thought. Their donations enable us to offer endowed professorships to excellent faculty, ensuring that high-quality research and education remain in the accountancy department for generations to come.
New roles, familiar faces
W. Brooke Elliott, the first woman to serve as the head of accountancy at Illinois has now become the first woman to serve as dean for Gies College of Business.
Nerissa Brown now serves as chief learning innovation officer in addition to her role of associate dean of graduate programs.
Ciao-Wei Chen Associate Professor
David Godsell Associate Professor
Christie Hayne Associate Professor Matt Hutchens Senior Lecturer
Mandi Alt Senior Instructor
Kimberly Mendoza* Associate Professor
Mitch Fisher Senior Instructor
Growing the accounting profession with a high-quality, affordable online master’s degree program
In 2017, Gies Business launched an online Master of Science in Accountancy program – the iMSA – with a cohort of just under 50 individual learners. Today, the iMSA is one of the largest master’s degree programs for accounting in the world.
Enrollment in the iMSA makes up about one-third of the total enrollment in all accountancy degree and certificate offerings at Gies Business. Now serving around 500 learners, the iMSA program represents one crucial way that the Department of Accountancy is contributing to the multifaceted solution for restoring the pipeline of qualified accountants needed in the global economy.
Designed for learners from a broad range of backgrounds – even those without experience in accounting – the innovative iMSA curriculum has helped professionals pivot to new careers and level up their skills to take on leadership roles.
“The biggest reason I ended up at Illinois is that I wanted to do the data analytics track
that was very specific to the iMSA program,” said Thomas Coats, who graduated from the program in 2020. Coats said that even before he graduated, he acquired critical knowledge about changing accounting standards that allowed him to step into a leadership role for an important company project.
The iMSA is expanding access to education in Illinois and worldwide. In 2023–2024, learners in the iMSA program represented 39 US states, 40 countries, and more than 450 different companies. Half of iMSA learners are women, and 21 percent of domestic learners are Black and/or Hispanic.
“I’ve learned from students around [the US] and across the world, some who are new to accounting and others who are seasoned professionals,” said iMSA grad Jennifer Betz
The breadth and diversity of cultural and professional backgrounds present in the iMSA program have given learners the chance to meet and learn alongside people they otherwise may have never met, enriching
Accountancy enrollment at a glance
The Department of Accountancy at Gies Business serves thousands of learners each year. As of Fall 2024, 1,642 learners were enrolled in accountancy programs at Illinois – an increase of about 11 percent from last year.
Bachelor of Science in Accountancy (BSA) 620
Bachelor of Science in Accountancy + Data Science (ACCY+DS) 135
Master of Accounting Science (MAS) 162
Master of Science in Accountancy (MSA) 174
their lives and setting them up for careers they hadn’t considered before.
“Recently I was promoted to a new position at my company that I would never have applied for before the iMSA. I am out of that stagnancy I was experiencing at work,” said iMSA student Anita Kothari.
“I am able to apply the skills gained from the program directly to my job and gain the necessary experience to grow into a higher management accounting position, and I’m looking forward to that.”
“You can’t beat the price and the immense value”
1,642
in Accountancy (PhD) 17
Master of Science in Accountancy (iMSA) 495
Setting the record straight: How one iMSA alum uses his accounting expertise to serve justice
As a forensic accountant, Stephen Rowland holds a lot of power in the lives of other people, and he is determined to use that power for good.
Forensic accountants search for evidence of fraud or other financial misappropriation, often on behalf of insurance companies, financial institutions, or legal experts. Throughout his own career, Rowland has used his accounting knowledge to help legal teams assess the fulfillment of estate planning documents, contracts, conservatorship agreements, and more. His work has uncovered financial misdeeds, helped fraud victims seek compensation, and allowed families to settle financial disputes.
Fresh from earning his MBA from Florida State University, Rowland started in his family’s radio station business. Later, he became an economic analyst, then a computerprogrammer, then a real estate broker.
His career journey may resemble a roller coaster – with lots of twists, turns, and loops –but he’s always been propelled by his curiosity to learn and expand his business acumen.
You might say that’s how he landed his first job in forensic accounting. His friend who
was practicing family law in Georgia needed help sorting through some financial figures for a case she was working on, and Rowland, who had a knack for parsing numbers and thinking mathematically, helped her understand and present the story the numbers were telling.
This favor later grew into a career in financial forensics, often conducting investigations to help uncover hidden revenues and assets or potential acts of fraud.
Though Rowland had plenty of certifications under his belt by the time he started assisting clients in probate cases, he knew that additional expertise could only benefit him as he served legal and business clients with increasingly complex financial scenarios.
Rowland applied to the online Master of Science in Accountancy (iMSA) program for the simple reason that it fit his lifestyle and budget. But once he joined, he developed tight bonds with his professors and colleagues and loved the online experience.
“In forensic accounting and valuation, we learn about the people and the background of the scenario or business before we dive into the numbers. The numbers mean very little until they are analyzed in the proper context.”
STEPHEN ROWLAND (MSA
’20)
CPA firm, where his duties have expanded to valuing businesses for estate and gift planning, mergers and acquisitions, or potential litigation.
“In forensic accounting and valuation, we learn about the people and the background of the scenario or business before we dive into the numbers,” Rowland said. “The numbers mean very little until they are analyzed in the proper context.”
Rowland notes that both forensic accounting and business valuations are growing sectors of the accounting profession. These two career paths have a lot to offer, especially for analytically minded people who have a passion for investigation and discovery.
(2022)
Learn more about
Has your passion for accounting led you to an interesting and unique career path? We’d love to hear from you – and maybe even tell your story in a future ACCY Update. Get in touch with our team at go.gies.illinois.edu/24-ACCYcareers.
