THE
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Our new dean: Innovative scholar, thoughtful leader P. 4 Speaker and author John Blumberg on personal values in leadership P. 20 Enhancing the curriculum to meet data demands P. 24
LETTER FROM THE CHAIR
Building on Success NEW DEAN Dr. Vallabh Sambamurthy (“Dean Samba”) is formulating his vision and strategy as our new WSB dean (Accounting Professor Tom Linsmeier is co-chairing the strategic planning process). Samba is well known to us from his role as chair of the accounting department at Michigan State University. We are optimistic that the path forward will advance the School’s three strategic pillars—research excellence, inspired learning experiences, and an exemplary learning community. Dean Samba has joined the accounting faculty.
RESEARCH Our faculty are publishing a growing body of scholarly articles and textbooks. Several faculty members have garnered research and best paper awards. Professor Dan Lynch was promoted to associate professor with tenure.
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THE BADGER ACCOUNT | 2018-2019 YEAR IN REVIEW
Our doctoral program continues as a key contributor to our research mission (external speakers in our research workshop and recent hires have specifically commented on the strength of our PhD program). We maintain a vibrant program of 14 students with several of our PhD students gaining national visibility through research awards and in their roles as presenters and/or discussants in various research conferences.
INSPIRED LEARNING The curriculum continues to keep pace with the professional accounting environment. The capstone course is now a well established elective for MAcc graduate students. One module addresses data analytics; we are further enhancing the curriculum within the broad area of transformative data, infusing data
topics throughout the curriculum. We added a class: Information Risk, Control, and Forensics. Graduates will continue to develop knowledge and skills to thrive in the evolving accounting marketplace. Keep reading for updates on our cocurricular activities, including The Future is Now, the Ethics and Professionalism Program, internships, active student groups, and active alumni engagement.
EXEMPLARY LEARNING COMMUNITY Faculty continue to make substantive contributions in the research, teaching, and service/outreach domains, including faculty support of student case competitions, service in the Dean’s office, and on campus-level committees. Senior lecturers Ann O’Brien and Al Talarczyk received the “distinguished” title in recognition of exceptional contributions to curriculum and program development. Michele Parker received the WSB Staff Excellence Award. We again placed one of our graduates in a post-graduate technical assistant position (PTA) at the Financial Accounting Standards Board, continuing a strong tradition. Two of our graduates received the AICPA Sells award for top performance on the CPA exam. I am very proud of our accomplishments and hope you are as excited as I am about our future. I remain grateful for the support of our advisory board, which provides good counsel and input for our accreditation review and to our program and curriculum development. Our success is due in large part to the contributions of our alumni and friends, and our future depends on your continued support. We are especially grateful to alums Tom Ragatz and Richard J. Johnson for their recent generous support of endowed chairs in accounting. If you, like Tom and Richard, value your Wisconsin degree, and if you feel that you have benefited from your experience here, I hope you will contribute to the Department of Accounting and Information Systems at http://bit.ly/1DeW4Pm. Thank you!
The Department of Accounting and Information Systems continues to receive strong validation for quality and impact.
TOP
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MAcc TAX PROGRAM
—Tax Talent’s Top in Tax Educational Survey of tax employers
Accounting professor program rankings in Public Accounting Report, an independent newsletter of the accounting profession:
#15
UNDERGRADUATE ACCOUNTING PROGRAM
#16
MASTER OF ACCOUNTANCY PROGRAM
#26
BEST PhD ACCOUNTING PROGRAM
Terry Warfield PwC Professor in Accounting Richard J. Johnson Chair of the Department of Accounting and Information Systems Wisconsin School of Business
You can follow happenings in the department at: go.wisc.edu/wsbaccounting.
WISCONSIN SCHOOL OF BUSINESS | TOGETHER FORWARD
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DEAN SAMBA TAKES THE HELM
Innovative Scholar, Thoughtful Leader Dr. Vallabh Sambamurthy, former Eli Broad Professor and associate dean of the MBA and professional master’s programs at the Broad College of Business at Michigan State University, is the new Albert O. Nicholas Dean of the Wisconsin School of Business. He began his tenure at UW–Madison on August 1 and succeeds Barry Gerhart, a professor of management and human resources, who has served as interim dean since February 2018. Sambamurthy (“Dean Samba”) previously served at business schools at the University of Maryland and Florida State University. His experience includes faculty recruitment, retention and development, strategic planning, and alumni engagement. He is a leading global expert on how firms compete in the digital economy and co-authored “Guiding the Digital Business Transformations: An Executive Agenda.”
“Vallabh has a wide range of experience in higher education, working with students, faculty, staff, and alumni,” says UW–Madison Provost Sarah Mangelsdorf. “I have greatly enjoyed getting to know him through the interview and hiring process. We are thrilled to welcome such an innovative scholar and thoughtful leader as the next dean of the Wisconsin School of Business.” “I am excited about the opportunity to collaborate with key stakeholders in enhancing the portfolio of degrees, certificates, and lifelong learning opportunities for undergraduate, master’s and executive programs,” says Sambamurthy. “I believe we can position the Wisconsin School of Business as an exemplary hub of lifelong learning, delivering skills that address the evolving needs of the global digital economy.” “The faculty and doctoral students have well earned reputations for research excellence,” he adds. “I look forward to strengthening academic research in addition to nurturing corporate partnerships that enable us to connect research to practice.” “I am excited to energize the School’s high-performance culture with a commitment to diversity, inclusion, and ethical leadership.”
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THE BADGER ACCOUNT | 2018-2019 YEAR IN REVIEW
Sambamurthy received his doctorate from the Carlson School of Management at the University of Minnesota; a master’s in business administration from the Indian Institute of Management in Calcutta, India; and a bachelor’s degree in engineering from the National Institute of Technology in Tiruchirappalli, India.
“I believe we can position the Wisconsin School of Business as an exemplary hub of lifelong learning, delivering skills that address the evolving needs of the global, digital economy.” — Vallabh Sambamurthy
Albert O. Nicholas Dean
Sambamurthy’s honors include the William J. Beal Outstanding Faculty Award, the highest honor accorded by Michigan State University; Distinguished Alumnus of the National Institute of Technology; and the LEO Lifetime Achievement award from the Association for Information Systems, an honor given for contributions to teaching, research, outreach, and mentoring. Welcome, Dean Samba, to WSB and to the Department of Accounting and Information Systems!
Vallabh Sambamurthy addresses the Wisconsin Business Alumni board in April
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PhD PROGRAM
Mary Vernon Earns Prestigious Deloitte Fellowship Mary Vernon (PhD ’21) has received the Deloitte Foundation’s 2019 Doctoral Fellowship in Accounting, one of only 10 such fellowships awarded nationally each year. Designed for students planning careers in higher education, individual awardees receive $25,000 to support their remaining coursework and dissertation. Approximately 100 institutions are invited to submit applications. This year’s awardees include students from MIT, Cornell, Michigan State, and the University of Pennsylvania, among others.
Mary Vernon is one of 10 students nationwide to receive a 2019 Doctoral Fellowship in Accounting from the Deloitte Foundation
“Mary is simply an outstanding student,” says Vernon’s advisor, Stacie Laplante, an associate professor and director of the Department of Accounting and Information Systems PhD program. “She works incredibly hard, she’s incredibly efficient. With this award, she’s competing with the best students out there.”
Mary started the doctoral program in 2016 with a focus on taxation. She has three research projects in progress, including co-authoring articles with WSB accounting faculty associate professors Fabio Gaertner and Dan Lynch. Some of these articles are under review for publication with academic journals. One paper examines the unintended consequences of the Tax Cuts and Jobs Act of 2017 on pension contributions. This paper has been featured on National Public Radio and is currently under review at a top-tier journal. Mary has been instrumental in all aspects of her papers from idea generation, data analyses, and writing.
“Mary is smart and tenacious. If she needs to figure out how to do something, she goes and figures it out incredibly quickly. A student of Mary’s caliber doesn’t come around very often.” —Stacie Laplante Associate Professor and Director Department of Accounting and Information Systems PhD program
Mary also received a WSB Distinguished Teaching Award from the research programs office. She is a member of the American Accounting Association and the American Taxation Association. Prior to WSB, Mary worked in wealth management for RMB Capital Management and as a certified public accountant with Miller Cooper & Co. She received a Bachelor of Science in Accounting and a Master of Accounting Science from Northern Illinois University.
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THE BADGER ACCOUNT | 2018-2019 YEAR IN REVIEW
RECOGNITION AND TRANSITION PhD Student Kimberly Walker earns best paper and a scholarship During the American Accounting Association (AAA) Diversity Section meeting in October 2018, Kim earned the Best Paper Award for the best conference manuscript presentation. She also received the Mary Feeney Bonawitz PhD Award Scholarship through the Accounting and Financial Women’s Alliance (AFWA), which promotes and advances education, career development, and leadership in the fields of accounting and finance. The goal: help women achieve their desired career successes and decrease barriers women face in accounting and financial professions.
Welcome New PhD Candidate Colorado native Derek Christensen (PhD ’24) earned his bachelor’s and master’s degrees in accounting from the University of Denver. Prior to enrolling at UW–Madison, Derek worked for two years in the Deloitte Advisory practice, specializing in business risk with a focus on internal control. Derek’s research interests lie at the intersection of financial reporting and the capital markets, specifically in how accounting information drives investor decision-making.
Incoming PhD student Derek Christensen outside of his alma mater, the University of Denver
Farewell Dimitri Yatsenko Dimitri Yatsenko (PhD ’19) completed his five-year educational journey, earning his PhD in May 2019. Dimitri accepted a faculty position at UW-Whitewater and is very pleased to join a department that will support his research program and his teaching interests. We look forward to continued engagement with Dimitri.
Kim Walker (PhD ’20), Theresa Hammond (PhD ’90), Helen Brown-Liburd (PhD ’03) at the AAA Diversity Section meeting
Dimitri Yatsenko and his advisor, Professor Ella Mae Matsumura
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AWARDS BANQUET
Recognizing Impact
Annual Banquet Celebrates Accomplishments More than 200 students, faculty, alumni, and friends of the department gathered at Gordon Dining and Event Center to celebrate the department’s 50th annual awards banquet on September 27, 2018. Vicky Fiorenza, president of the Sigma Chapter of Beta Alpha Psi, welcomed the group. Vicky offered heartfelt thanks to Beta’s faculty leader, Tony Greig, for the time Tony contributes to Beta and to students. Terry Warfield thanked and recognized attendees for their impact on the department: faculty, lecturers, and teaching assistants for their impact on the department’s teaching mission, donors who provide the necessary funding for department initiatives, and students who succeed at the highest levels. Terry also had special thanks for Ray Wilson, a longserving advisory board member who retired from PwC in June of 2018. Ella Mae Matsumura, professor of accounting and senior associate dean for academic programs, expressed the School’s appreciation for the department’s leadership in areas of strategic focus, including enhancing the student experience, providing access to opportunities, and in faculty excellence. Stacie Laplante, professor of accounting, presided over the awards presentation, starting with the top ten graduating seniors for demonstrating academic excellence throughout their undergraduate careers. Terry Warfield recognized 47 donor funds and more than 160 recipients of scholarship support in an amazing display of generosity by proud alumni and corporate partners of the accounting program.
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THE BADGER ACCOUNT | 2018-2019 YEAR IN REVIEW
OUTSTANDING SENIOR AWARD Kate Holubowicz Michael Lamers Andrew Richter William Sheaffer Cole Stasiak Carly Klipp Derek Ott Victoria Schulze Samuel Sokovich David Zimmer
DOUGLAS CLARKE MEMORIAL TEACHING AWARD Dimitri Yatsenko (PhD ’19) Erika Wheeler (PhD ’20)
TEACHING ASSISTANT: EXCELLENCE IN TEACHING AWARD Jacob James (BBA ’17, MAcc ’18) Carly Vander Pas (BBA ’17, MAcc ’18)
Recipients of the Outstanding Graduating Senior Award are recognized by Stacie Laplante and Terry Warfield. (L to R) Stacie LaPlante, Kate Holubowicz, Carly Klipp, Michael Lamers, Andrew Richter, William Sheaffer, Cole Stasiak, David Zimmer, and Terry Warfield. (Not pictured: Derek Ott, Victoria Schulze, Samuel Sokovich)
PhD students Dimitri Yatsenko (second from left) and Erika Wheeler (second from right) accept their teaching awards
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AWARDS BANQUET
Lawyer, teacher, educational pioneer
Recognizing a Distinguished Career Bruce Harms (BBA ’72, JD ’75) is this year’s Distinguished Accounting Alumnus. Bruce is a partner in the Madison office of Axley Brynelson, LLP where his legal practice focuses on representation of businesses in areas including entity formation, contract negotiations, relationships between co-owners, securities matters, and much more. In addition to a successful legal practice, Bruce was a lecturer for the Wisconsin School of Business for 42 years before stepping down after the Spring 2017 semester. Since 1975, Bruce has taught various undergraduate and graduate business law classes with primary focus in the undergraduate business law course required of all business students, teaching more than 32,000 students throughout his tenure with the School. Bruce continued to evolve his course and in 2014, almost 40 years into his teaching career, Bruce converted the course to a hybrid or “flipped” instructional methodology to best use available technology and offer students flexibility.
Bruce Harms is recognized as the department’s Distinguished Alumnus by Terry Warfield
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THE BADGER ACCOUNT | 2018-2019 YEAR IN REVIEW
Bruce addressed attendees of the 50th Annual Awards Banquet, thanking family, friends, and colleagues in attendance and reflecting on his time with the University of Wisconsin–Madison. Bruce had high praise for department faculty, both from his perspective as an alumnus of the program and as a colleague for more than 40 years. Bruce specifically recognized his partners in teaching, John Walsh and John DeWitt, both of whom have helped deliver the business law course with Bruce for many years, and David Pelletier, whom Bruce identified as the perfect person to take over his lead role with the class. Bruce provided some advice for students as they enter their professional careers, “If your gut says something addressing cultural and professional is not right, will you be impressionability. He explained that students will come out of the university professionally impressionable with very solid quantitative skills that or will you speak up?” will equip them to be very successful. —Bruce Harms However, they will encounter ‘gray’ areas where qualitative analysis is required. That’s where consensus, or ‘group-think,’ can be very dangerous, especially in a results-driven environment. Bruce asked, “If your gut says something is not right, will you be professionally impressionable or will you speak up?” He encouraged students in these scenarios to:
• Seek guidance from mentors
• Rely on the training received in the Wisconsin School of Business
• Avoid being driven to achieve results at all costs
Bruce closed with a sentiment from Warren Buffett to his employees: Always contemplate how you would feel if your decisions were displayed on the front page of the newspaper. Buffett told his employees that if they lost money for the company, he would understand, but if they lost the company’s reputation, he would be unforgiving and ruthless! Bruce asked a personal favor from those in the room, addressing a valuable ethical position. “Be willing to challenge the consensus—trust your instincts!”
Bruce Harms’ Noted Achievements • Lawyer of the Year, Best Lawyers© for Corporate Law in Madison • The Best Lawyers in America© for work in corporate law and real estate law • Wisconsin Super Lawyers Lists (primary area of practice: real estate law) •
AV Preeminent® Peer Review Rated by Martindale-Hubbell® Peer Review Ratings™ in recognition of the highest level of professional excellence
Business law team from left to right: John Walsh, Bruce Harms, John DeWitt, and David Pelletier
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STUDENT RECOGNITION
Exceptional Students Matthew Maley and Michael Lamers Earn Elijah Watt Sells Awards Two WSB students, Michael Lamers (BBA ’18) and Matthew Maley (BBA ’17, MAcc ’18) are among 110 national winners of the 2018 Elijah Watt Sells Award given by the American Institute of CPAs. Founded in 1923, the Elijah Watt Sells Award annually recognizes those with top CPA exam scores. Sells was one of the first CPAs in the US and was key to the founding of the AICPA as well as education programs within the profession.
Matthew Maley (left) works as a financial analyst with General Mills in Minneapolis. Michael Lamers (right) is an assurance associate with PwC in Milwaukee
Elijah Watt Sells Award criteria: • Earning a cumulative average score above 95.50 across all four sections of the CPA examination • Passing all four sections of the exam on the first attempt • Completing testing in 2018
Sarah Maule Chosen for Prestigious Internship With Standard Setting Board Master of Accountancy (MAcc) student Sarah Maule (BBA ’18, MAcc ’19) was awarded a post-graduate technical assistant (PTA) internship with the Financial Accounting Standards Board (FASB). During the one-year program, which Sarah started in July 2019, interns become highly involved with the accounting standard setting process and gain an in-depth understanding of the roles played by preparers, auditors, and users of financial information. PTA roles on major agenda projects or short-term practice and implementation issues include:
• Analyze written submissions received on documents issued for public comment
• Review and analyze published research
• Prepare memorandums on technical issues for board members’ information
• Draft due-process documents
• Evaluate accounting proposals of other organizations
• Attend and occasionally participate in public board, task force, and other meetings pertinent to their projects
The program has a long tradition of students selected for prestigious PTA positions, most recently: • Kevin Machut (BBA ’17, MAcc ’18) and Maddie Nash (BBA ’17, MAcc ’18) Financial Accounting Standards Board (FASB)
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THE BADGER ACCOUNT | 2018-2019 YEAR IN REVIEW
• Shelby Cameron (BBA ’17, MAcc ’18) Governmental Accounting Standards Board (GASB)
UNDERGRADUATE PROGRAMS
BLENDING SERVICE AND FUN OUTSIDE THE CLASSROOM Beta Alpha Psi The Sigma Chapter of Beta Alpha Psi, led by senior lecturer Tony Greig, had another great year of professional meetings, fun events, and service to the School and community. The chapter hosted eight professional meetings with different employers providing insights into different accounting career paths. Members bonded over game night, got to know the newest pledges, enjoyed ice skating, and—only in Wisconsin—a cheese curd crawl! Chapter members also volunteered their time, including offering free tutoring to business students, making cards and blankets for veterans, and working at Second Harvest food bank. The year wrapped with the biennial golf outing fundraiser with students, faculty, and employers. It was a busy and successful year!
Institute of Management Accountants The student chapter of the Institute of Management Accountants (IMA), advised by lecturer Russell Epp, provides an early opportunity for business students to learn about the accounting profession. Speaker events featured companies like Kohler, KPMG, BMO Harris, EY, and UW Credit Union. Students participate in many other activities that facilitate mentorship and networking. Members volunteered throughout the year in a variety of service opportunities in the Madison community and found time to have fun with ice cream and bowling socials.
Women in Finance and Accounting (“Best New Student Organization on Campus”) Women in Finance and Accounting (WIFA), led by faculty advisor Oliver Levine, continues to empower women to pursue the male-dominated fields of finance and accounting. Events included traveling to Chicago to visit Wells Fargo, BMO Harris, EY, and Deloitte; attending a fitness barre class with PwC; and hosting the Women in the Workplace Panel with sponsors. The chapter received the “Best New Student Organization on Campus” Bucky Award from the student leadership board. After only four semesters in existence, active membership is over 100 students strong, with plans to recruit more ambitious women in the semesters to come.
Top left: Leaders of the Sigma Chapter of Beta Alpha Psi. Top middle: A foursome of students and professionals at the yearend golf outing. Top right: Beta members volunteering their time making blankets for Project Linus. Bottom left: Students and professionals network while staying healthy at a barre class. Bottom right: Members of IMA volunteer at the NBC15 Sort-a-Thon where food is sorted and boxed to be sent to food pantries all across Southern Wisconsin
WISCONSIN SCHOOL OF BUSINESS | TOGETHER FORWARD
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MAcc PROGRAMS
Mastering Accountancy Taxation Appeals: Learning Firsthand With the IRS In Al Talarczyk’s Research and Administrative Issues in Taxation graduate course, students get the opportunity to put into practice all they have learned throughout the semester. In lieu of a final exam, students represent a fictitious client in an appeals conference before two actual IRS appeals officers. Teams of three students research the issues, plan their strategy, prepare all the necessary documents, and then advocate for their client at the conference. It is a glimpse into their future in the real tax world. We appreciate the time and good nature of the IRS officials who help prepare our students!
Students in the Tax Research class having a ‘tense’ exchange with the IRS appeals officers
After a day of appeals conferences, it appears that the MAcc students have prevailed!
Enhancing Critical Thinking Through Transformative Internships Each winter, senior Integrated Master of Accounting students embark on internship experiences. During the winter of 2019, 85 students completed internships with public accounting employers during their busiest time. Students were placed from New York to San Francisco and in between to put into practice what they learned during their undergraduate studies. The internship experience is transformative. Students significantly enhance their critical thinking skills. Beyond the technical accounting improvements, students also see significant gains in their writing, time management, and organizational skills.
IMAcc student Jackson Smyth (BBA ’19, left) wrapping up a successful audit engagement during the winter of 2019
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THE BADGER ACCOUNT | 2018-2019 YEAR IN REVIEW
Professional Issues Course Delivers Expert Insights Following the internships, students participate in a three-week Professional Issues course led by Professor Dan Wangerin that covers accounting, auditing, and taxation. Students use their internship experiences to build a foundation for future development and graduate school. Students in this fast-paced course reflect on the relationship between insights in academic research and accounting practice while they interact with and learn from expert accounting professionals. Guest speakers and topics included: CONCEPTUAL FRAMEWORK AND ECONOMICS OF TRANSACTIONS
PCAOB—REGULATORY ENVIRONMENT AND STRATEGIC PLAN
• Jim Leisenring, Financial Accounting Standards Board
• William Duhnke, Chair, PCAOB
• Shelby Cameron (BBA ’17, MAcc ’18), Governmental Accounting Standards Board
BIG DATA AND AUDIT ANALYTICS
• Maddie Nash (BBA ’17, MAcc ’18), Financial Accounting Standards Board • Professor Tom Linsmeier (MBA ’80, PhD ’85) ETHICS AND PROFESSIONALISM • Professor Markus Brauer • Amy Jo Fisher, American Family Insurance • Tina Paulus, TrueYouForever • Professor Karla Zehms
• Brian Kennedy, EY MAKING CAREER CHOICES IN THE ACCOUNTING PROFESSION • Kathy Feucht (BBA ’96), Deloitte • Amy Busse (BBA ’04, MAcc ’05), KPMG • Jessica MacNaughton (BBA ’00, MAcc ’01), Wipfli • Joel Grade (BBA ’93), Sysco Corp. • Matt Kulasa (BBA ’97), Komatsu Mining Corp.
TAX REFORM—CURRENT DEVELOPMENTS • Todd Watchmaker (BBA ’82), KPMG • Matthew Lorenz, KPMG • Patrick Byer (BBA ’11, MAcc ’12), KPMG
RESPONSIBILITIES OF A CFO • Dan Kelly (BBA ’84, MBA ’85), American Family Insurance
• Professors Dan Lynch and Stacie Laplante
Students in Professor Wangerin’s Professional Issues course
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MAcc PROGRAMS
Global Mindset Internships
Accountancy Abroad With continued funding from the EY Foundation for Global Mindset Initiatives, the department and School introduce students to cultural and social diversity in business through classroom activities. Some students live these experiences during their IMAcc internships by securing competitive opportunities to go abroad during their winter internship. Ashley Hall (BBA ’19, MAcc ’20)—In my KPMG internship, I escaped the Chicago winter for four weeks and was able to go down under to experience summer in Melbourne, Australia. While working as an audit intern I was surprised and relieved to learn that KPMG’s auditing standards and procedures, as well as overall company culture, are quite similar to the U.S. The main difference was that interns (or “vacationers” as the Australians call us) are limited to 37.5-hour workweeks. This gave me plenty of time to enjoy the amazing city of Melbourne. I got to celebrate Australia Day (similar to our 4th of July) on the beach, I toured the many national parks, and I even went skydiving over the ocean.
When not working in the Melbourne office of KPMG, Ashley Hall was able to explore her new surroundings
Jack Staver spending some time with a Koala during his internship experience in Australia with PwC
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I am very grateful to KPMG and to the School for preparing me to push myself outside my comfort zone and embrace unique opportunities. I expanded my global network by working with individuals from Australia, Scotland, Ireland, India, China, Canada, and the United States. Although we had varying backgrounds, we came together under a common KPMG mindset to create diverse and well functioning teams. As businesses become increasingly multinational, this experience has sharpened my global mindset.
Jack Staver (BBA ’19, MAcc ’20)—During the winter of 2019, I interned with PwC in Chicago. I participated in a one-week international experience in partnership with PwC Sydney. During my exchange week, I shadowed an employee who was spending two years overseas working on pre-deal advising for mergers and acquisitions, which gave me a greater understanding of the distinct business culture differences between the United States and Australia. The Australian business environment is more casual, including a relaxed dress code and informal meeting culture. I toured Sydney and visited attractions such as the Tarongo Zoo, Sydney Opera House, and Sydney Pride and enjoyed the local cuisine of oysters, craft beer, excellent sauvignon blanc, and dishes from all over Asia. I am so grateful to have experienced such a rich culture and meet PwC employees from all over the world. I am eager to see what the future holds as I accept my full-time position with PwC in Chicago beginning Summer 2020.
THE BADGER ACCOUNT | 2018-2019 YEAR IN REVIEW
MAcc Graduates Move On On a cool, dry day in May, a record number of future alumni celebrated their graduation at a ceremony in the iconic Camp Randall Stadium, including 85 MAcc students. From their seats nearly in the front row, they heard from the chancellor and provost, were inspired by student speakers, and—a highlight for many—enjoyed getting advice from former student turned NFL player, J.J. Watt. Following the formal ceremony, many MAcc graduates returned with their families to the Wisconsin School of Business for the MAcc commencement celebration, at which MAcc graduates celebrate with their families and are congratulated on their accomplishments. It is an event that many faculty members look forward to and a great way to cap off the academic year.
Top: Graduation ceremony at Camp Randall. Middle: Graduate Jacob Stroik (BBA ’18, MAcc ’19) and family pose with Bucky at the MAcc commencement celebration. Bottom: Terry Warfield interacts with MAcc graduate Trent Wild (BBA ’18, MAcc ’19) and his family
Graduate Amara Saffold (BBA ’18, MAcc ’19) with Bucky
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ARTHUR ANDERSEN CENTER ACTIVITIES
The Future is Now The annual The Future is Now event helps students explore accounting career paths, interact with industry leaders, and learn about the rewards and challenges of accounting as a career. The event offers sections on ethics, leadership, and career planning. Students learn about the School’s Integrated Master of Accountancy (IMAcc) and Graduate Master of Accountancy (GMAcc) programs and leave the event with a superior understanding of accounting career options. Making an Impression Carver Smith (BBA ’91), a partner with Baker Tilly Search & Staffing, delivered the opening session, “Building Your Personal Brand Through Impressions.” Carver drew on his recruiting experience to underscore the importance of building a personal brand. He addressed topics from interviewing to attire and dinner etiquette. He discussed how to build a rapport with other professionals and included a rapport building exercise. Carver’s energy and knack for public speaking made for a great opening session. Day one of The Future Is Now closed with a networking dinner, at which students practiced their newly learned etiquette skills, and a panel discussion on The Excitement and Challenges of a Career in Accounting. Brad Zastoupil (BBA ’04, MAcc ’05), a partner with PwC, moderated a career-path discussion between the students and a panel of professionals. Panelists included: • Jason Parsons (BBA ’01, MAcc ’02), assurance partner, KPMG • Michelle Goetsch (BBA ’03, MAcc ’04), finance director, Girl Scouts of Wisconsin Southeast • Leah Schmid (BA ’10, MAcc ’16), associate advisor, Wipfli Financial Advisors • Brent Wegner (BBA ’02, MAcc ’03), chief financial officer, ABODO • Tom Kinzler, international tax partner, PwC The panelists shared professional insights and the opportunities their accounting degrees have provided. Attendees left with their “coveted” Future is Now t-shirts! Students returned Saturday morning for a full day of programming, starting with concurrent breakout sessions on global mindset and professional competencies.
Carver Smith engages the students with several activities, including a rapport building exercise
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THE BADGER ACCOUNT | 2018-2019 YEAR IN REVIEW
Professional Competencies: Accounting and Technology Katie Matias, Rachel Treinen (BBA ’12, MAcc ’13), Joseph Hafermann (BBA ’14, MAcc ’15) and Joshua Usem (BBA ’13, MAcc ’14), all with PwC, led sessions on professional competencies in the accounting profession. Much of their presentations focused on innovative and emerging trends in technology and how PwC is leveraging technology to serve clients. The Saturday morning session concluded with an introduction to the department’s ethics initiative. Students read three short ethics cases and discussed each scenario in a small group led by a professional. The ethics cases were based on scenarios that IMAcc students have encountered during their internships. It is always very powerful for students to engage with professionals about how they should proceed on ethical issues early in their professional careers. After fully debriefing the ethics cases, each professional rotated among the small groups of students for further discussion about different career paths in accounting. The following professionals participated in the “Ethics Cases and Professional Exploration” session:
• Brooke Winter (BBA ’16), SC Johnson
• Brian Dukelow (BBA ’02, MAcc ’03), TDS
• Andrea Jansen (BBA ’05, MAcc ’06), Baker Tilly
• Erin Breber (BBA ’09, MAcc ’10), SVA
• Adam Goldfarb (BBA ’06, MAcc ’07), KPMG
• Bart Halderson (BBA ’93), BDO
• Tim Lardinois (BBA ’94, MAcc ’95), Spectrum Brands
• Brian Kennedy, EY
• Leif Bergquist (BBA ’08, MAcc ’09), KPMG
• Nick Bruhn (BBA ’14, MAcc ’15), KPMG
• Ryan Karow (BBA ’16, MAcc ’17), BDO
• Joe Zablotney (BBA ’08), BDO
• Lee Swartz (BBA ’14, MAcc ’15), EY After a networking lunch Saturday afternoon, students rounded out the day with concurrent sessions on team building and integrity.
Gnome to Anchorage: Accounting and Teamwork With help from facilitator Ruth Graczkowski and her team at Tri-S Consulting, Lisa Paradowski (BBA ’00, MAcc ’01) and Jennifer Campbell (MAcc ’11), along with many other professionals from Deloitte, participated in student team building exercises. From wrapping a present or completing a puzzle with all hands tied together, to getting the oil (i.e., marble) from Gnome to Anchorage without stopping or spilling (i.e., move the marble across the room), students were pushed to work together, communicate, and trust one another. It was a great opportunity for students to reflect on how to best come together with a team to achieve a common goal.
Students work as a team to move their oil
Students work as a team to wrap a present (including a bow) with their hands tied together
The Future is Now, continued on page 20
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ARTHUR ANDERSEN CENTER ACTIVITIES
Speaker and Author John Blumberg on Personal Values in Leadership Each year we enjoy a return visit from speaker and author John Blumberg. John is inspiring a movement among top leaders to see the intersection of personal and organization core values as the most impactful and untapped resource available to leaders. He is a companion to CEOs who want to build value with core values. In 1996, John left a career he loved that had taken him from CPA to a worldwide recruiter at Arthur Andersen. From there, he followed his dream as a professional speaker to reach audiences in 10 countries on three continents. John is a designated Certified Speaking Professional through the National Speakers Association, a distinction held by fewer than 10% of the members of the International Federation of Professional Speakers. He is the author of Silent Alarm: A Parable of Hope for Busy Professionals; GOOD to the CORE: Building Value with Values; and Return on Integrity: The New Definition of ROI and Why Leaders Need to Know It. His newest book releases this November—Return on Integrity: The Individual’s Journey to the One Essential Thing. John has participated in The Future is Now every year. We appreciate his willingness to come to Madison each fall to share his insights with our students. The event culminated with reflections and parting advice by department chair Terry Warfield. We ask students to commit their most valuable and constrained resource to this program—their time—and each year as we collect feedback for future programs, 100% of the attendees indicate that we should continue to offer The Future is Now! Thank you to all of the alumni and friends of the program who make this two-day event possible. The Future is Now is made possible through generous funding by the Arthur Andersen Center and the involvement of many alumni who deliver the program content.
John Blumberg offers an inspiring message to students
Global Perspective: Accounting and Diversity Brian Kennedy and Ousmane Kabre (BBA ’15, MAcc ’16), along with several other professionals from EY, participated in a global mindset breakout session. After an eye-opening activity that had students consider the average breakdown of 100 people in the world along ethnicity, religious beliefs, gender, language, and more, EY professionals shared their personal experiences with the relevance of global mindset in the profession.
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THE BADGER ACCOUNT | 2018-2019 YEAR IN REVIEW
Ousmane Kabre interacts with students before his global mindset session during The Future is Now
OUTSIDE SPEAKERS DELIVER NEWS AND VIEWS Workshop Speakers for the 2018-2019 Academic Year Also supported by the Andersen Center is our nationally known (almost weekly) research workshop. Leading scholars from around the country and the world present their research and network with faculty and PhD students. Outside speakers this year included: • Dain Donelson, University of Texas at Austin, “The Timing of Bad News and Litigation Risk in the Long Term: Evidence from Industry Litigation Waves”
• Tracie Majors, University of Southern California, “Are Auditor Negotiations Impaired During Depleting Times? The Importance of Client Characteristics and Auditor Skepticism”
• Jochen Pierk, Erasmus School of Economics, “Multinational tax avoidance: Is it all about profit shifting?”
• Christie Hayne, University of Illinois, “Collaborating with Competitors: Mechanisms that Mitigate Coopetitive Tensions among Member Firms in Accounting Associations and Networks”
• Ally Zimmerman, Northern Illinois University, “The Market Premium for Audit Partners with Big 4 Experience” • Clara Chen, University of Illinois, “Does Relationship Matter? Buyer-Supplier Relationship and the Association between Supplier Concentration and Cost Structure” • Jennifer Blouin, University of Pennsylvania, “Does Tax Planning Affect Organizational Complexity: Evidence from Check-the-Box” • Stephen Stubben, University of Utah, “Evidence on the Use and Efficacy of Internal Whistleblowing Systems” • Joe Brazel, North Carolina State University, “Do Rewards Encourage Professional Skepticism?” • Denise Downey, Villanova University, “The Influence of Foreign Auditors and Lead Engagement Partners on Quality of Audits of U.S. Multinational Companies”
• Jonathan Shipman, University of Arkansas, “The Audit Market Consequences of Big 4 Consulting Growth and Client “Consulting Desirability” • Richard Hatfield, University of Alabama, “Interactive Negotiations Between Auditors and Financial Officers: The Effects of the Accumulating and Directional Nature of Audit Differences on Negotiated Adjustments” • Brady Williams, University of Texas, “The Long Arm of the U.S. Tax Law: Participation Rates and Costs Related to Information Sharing” • Anne Farrell, Miami University, “It’s Complicated: How Subordinates’ Past Performance Information and Gender Impact Supervisors’ Appraisals of Potential”
• Aaron Mandell, University of Wisconsin-Milwaukee, “The Value of Tunneling: Evidence from Master Limited Partnership Formation”
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ETHICS & PROFESSIONALISM PROGRAM
Critical Thinking on Professional Ethics With generous support from the Howard and Sue Carver Ethics in Accounting Endowment Fund, we provide students the unique opportunity to engage in activities emphasizing the importance of critical thinking about ethics and professionalism. As a faculty we intend these critical thinking experiences will set Wisconsin students apart from their peers both at the entry point into the profession and as they acquire leadership roles over the progression of their careers. A key component of this program is the speaker series, which included insights this year from Rob Misey (Fall 2018) and a panel including Markus Brauer, Amy Jo Fisher, and Tina Paulus-Krause (Spring 2019).
Ethics for Accountants, Hollywood Style On Tuesday, December 4, 2018, Rob Misey delivered an entertaining and educational session that demonstrated the application of critical thinking around ethics using television and movie clips. Rob has delivered similar programs in the past, earning him an award for best continuing education program from the American Bar Association. After a welcome and program introduction from Professor Dan Wangerin, IMAcc student Carly White introduced Rob, highlighting not only his professional attributes, but also the fact that he has appeared as an extra in several movies, including Forrest Gump, Major League 2, and When Summer Comes.
Rob Misey addresses accounting students during an ethics session where he used iconic television and film clips to demonstrate various ethical dilemmas
Rob shared examples of unethical behavior that were highly relevant to students getting ready to embark on a professional internship experience. There were examples of classic wrongdoing from an episode of Dallas, to time theft as evidenced in an episode of The Office, along with a discussion on client confidentiality as shown in a clip from the classic Ghostbusters movie. After each clip, Rob debriefed the audience on the scenario and the ethical lapses represented. The presentation was engaging and humorous, but also addressed very real situations that students will encounter as they enter their professional careers. Rob is partner with Reinhart Boerner Van Deuren in their tax and corporate law practice, as well as chair of the firm’s international practice. In his spare time, Rob commutes to Madison weekly during the spring semester to teach international taxation to master of accountancy and law students.
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Spring Ethics Symposium: Leaning in to Your Career Advancement The spring speaking event, “Leaning In to Your Career Advancement,” was based on the premise of Sheryl Sandberg’s book, Lean In. EY Professor Karla Zehms facilitated a panel discussion including Markus Brauer, Amy Jo Fisher, and Tina Paulus-Krause. Markus is a professor of psychology and a social psychologist at UW–Madison, with a joint appointment at WSB. He is internationally known for his research on ethics interventions, which include critical analyses of measurable outcomes. Amy Jo is a Lean In Circle member and customer value director at American Family Insurance. Tina has been a Lean In Circle leader and spent 22 years with American Family Insurance. She recently started her own career-coaching business and is the CEO of True You Forever. Markus provided some research-based evidence on diversity and inclusion efforts in the workplace, reminding students that the most successful initiatives are those with measurable outcomes. He challenged the status quo of approaching diversity and inclusion education through workshops and daylong retreats. His research supports the idea that these efforts need to be built into every activity within a given organization and that they need to be supported at every level with a focus on creating a pleasant working environment for all employees. Most importantly, diversity and inclusion efforts need to be viewed as a matter of continuous improvement that includes conscious consideration of successes, failures, and informed choices about future improvements. Amy Jo and Tina followed this discussion with stories and anecdotes from their careers and shared with students how they have faced and overcome challenges. They also shared their experiences and benefits from participating in the Lean In Circle at American Family Insurance. Students from Professor Wangerin’s Professional Practice Issues course kept the discussion very lively with excellent questions. Student questions ranged from how they can impact the workforce as new professionals, through the evolution of paternity leave and the perceptions that follow. Students had the opportunity to hear from audience member Binnu Palta Hill, the School’s assistant dean for diversity and inclusion, who shared her experiences and relevant research. Panelists offered great advice for students entering their careers, encouraging them to find a good mentor to advocate for them, respond versus react when in difficult situations, and to always remember their own values. Students were encouraged to use their voice, speak up, and let actions speak for themselves. Finally, the panelists urged students to avoid trying to change others’ perception of them, but rather to work hard to make themselves indispensable.
Speakers Amy Jo Fisher (left), Markus Brauer (upper right), and Tina Paulus-Krause (lower right) share their insights with accounting students during the Spring Ethics Symposium
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PROGRAM UPDATES – ANALYTICS
Staying Ahead of the Curve
Infusing Data Throughout the Curriculum Technology, data analytics, big data, visualization—these are all topics critical to every WSB program, especially the Department of Accounting. All WSB students are exposed to business analytics during a two-course sequence in their sophomore year. The first course places an emphasis on how to manage, summarize, explore, and visualize databases. The essentials of probability are introduced and applied to decision problems where there is uncertainty. The class pays particular attention to effective communication of data analysis through business case studies. The second course expands on the first with a hands-on experience with many commonly used analytic methodologies using the modeling and optimization tools available on almost every professional desktop. This second course has a strong emphasis on predictive and prescriptive analytics to help students understand how managers formulate decision models that identify optimal actions given a set of circumstances.
Next steps: DATA ANALYTICS AND ACCOUNTING INFORMATION SYSTEMS Having the foundation of the business analytics courses, accounting students then take Accounting Information Systems with distinguished lecturer Ann O’Brien, whose course is constantly evolving to meet the ever-changing demands of the profession. The course premise is understanding core business processes and their information requirements. By understanding accounting systems, or enterprise information systems, students gain greater command over core business processes and can see the value-added business enterprise as a whole. Accounting Information Systems gives students exposure to: • Analyzing, modeling, and documenting business and accounting processes by studying how businesses processes work, documenting those processes through flowcharts, and analyzing the processes with data modeling and internal controls
• Computer-based tools: NetSuite | SAP | Excel | Access | SmartDraw and Visio | XBRL
• Staying current with developments in the ever-changing business environment, including Integrated Enterprise Systems, XBRL, IFRS and IT, privacy and security, assurance and compliance standards, IT governance, business intelligence, cloud computing, and big data.
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DATA ANALYTICS AND TAX Professor Stacie Laplante and PhD student Mary Vernon are surveying managers in external accounting firms and internal accounting departments regarding their use of data analytics for tax purposes, including tax planning, tax compliance, and tax risk management. They are also asking these practitioners about the most desired skills from graduating accounting students to fulfill these analytical tasks. Using the information gathered from the survey, they plan to build new and enhance existing case studies to incorporate these desired skills into the existing tax curriculum. The MAcc tax curriculum covers technical tax knowledge in depth. Given the firms’ desire to maintain that knowledge, the goal is to enhance data analytics skills students start building in other classes—such as Ann O’Brien’s Accounting Information Systems class—in a practical way without diminishing the technical tax curriculum.
A survey of accounting firms and departments will reveal uses of data analytics for planning, compliance, and risk management
DATA ANALYTICS AND AUDIT Professor Emily Griffith and PhD student Amanda Carlson (PhD ’22) redesigned the graduate-level advanced auditing course to promote critical thinking skills through a greater emphasis on data analytics. The goal is to help students acquire a problem-solving approach that includes identifying the relevant issue, identifying an appropriate approach to addressing the issue, executing the chosen approach, making decisions based on their analysis, and communicating their decisions to internal and external stakeholders. Some specific data analytic activities included using Tableau to analyze a client’s general ledger to assess risks in the revenue process and to identify revenue fraud, and creating data visualizations of PCAOB-identified audit deficiencies to communicate trends and to support recommendations to audit firms for addressing the deficiencies. While the course emphasizes using these skills in an auditing context, this approach will serve students well in their careers whether they pursue auditing, corporate accounting, or finance.
NEW COURSE OFFERING In addition to enhancing existing curriculum, a new course was introduced in the spring of 2019. Lecturer Russell Epp taught Information Risk, Control, and Forensics for MAcc students. The focus is to expose accounting students to the role information technology (IT) plays within organizations and how accountants not only use but also assess IT risks. In regard to data security, management, and governance, students completed a cyberattack simulation which required real-time decisionmaking with immediate feedback on effectiveness of chosen courses of action. Students also worked with digital forensic analysis applications to identify, obtain, and document detected fraudulent transactions and events. To bring the topics together, the course culminated with a team project where groups used the IDEA data analysis software to work with large accounting-related datasets (including accounts receivable, accounts payable, and inventory) to detect and interpret red flags, which may indicate fraud.
MAcc CAPSTONE MODULE MAcc students have the opportunity to take a yearlong, module-based capstone course during their final year in the program. One of the modules is based on a case developed by Ann O’Brien. The case introduces students to visualizing accounting data in Tableau. In it, students import data, answer client queries, and create visualizations, dashboards, and storyboards. Students learn basic data cleaning and visualization skills and find the case very interesting.
Yearlong module-based course
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AWARDS, RESEARCH GRANTS, PUBLICATIONS, AND PRESENTATIONS
Noteworthy Al Talarczyk and Ann O’Brien Earn Distinguished Prefix Recognition Senior lecturers Al Talarczyk and Ann O’Brien earned the distinguished prefix. This title recognizes that Al and Ann perform at levels of proficiency typically requiring extensive experience and advanced knowledge and skills. Such expertise has been recognized by their peers and through their reputations, which extend beyond the department and School. A distinguished academic staff member is recognized for their development of new approaches, methods or techniques to resolve or prevent problems with little or no expert guidance and to cope independently with new, unexpected or complex situations. Al has been a leader in our tax curriculum; he received WSB teaching awards in 2007 and 2013. Ann has been an innovator and leader in our program and curriculum development; she was named to the UW Teaching Academy in 2015 and she received the WSB Educational Innovation Award in 2018.
Michele Parker Michele Parker, academic department specialist for the department was recognized with the Erwin A. Gaumnitz University Staff Service Award at the all-School awards celebration in May. This award recognizes Michele’s outstanding service to the department, School and university. Having served many roles within the university, Michele is often a resource for others, a role she willingly embraces. We are lucky to have Michele in our department and congratulate her on this well-deserved recognition.
Dan Lynch Dan Lynch was promoted to the rank of associate professor with tenure. Dan has contributed to research excellence and building inspiring learning experiences during his time with WSB. This promotion represents well-earned recognition of his great work. Dan was a featured speaker at a conference sponsored by the Urban-Brookings Tax Policy Center and the University of North Carolina Tax Center titled “Effects of Corporate and Business Provisions of the Tax Cuts and Jobs Act.” The event gathered accounting, taxation, and economics experts to discuss the effects of the Tax Cuts and Jobs Act (TCJA) of 2017, a move that included cutting the corporate tax rate down to 21%. Dan’s research examines the TCJA in relation to defined benefit pension contributions and explores whether the increase in pension contributions by firms was an unintended consequence of the act’s corporate tax rate drop.
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Willie Choi Accounting Professor Willie Choi co-led the doctoral colloquium at the American Accounting Association Management Accounting Section (AAA MAS) Midyear Meeting in early January in Fort Lauderdale, Florida. According to MAS President Anne Farrell (Miami University), “…the program was exceptional…” with attendance of about 15 senior management faculty and about 70 PhD candidates. Within the program, students were able to explore a variety of research methods and technologies, got advice on presentation strategies, and discussed the future of management accounting. Importantly, the students had the opportunity to forge deeper connections with faculty throughout the event. None of this would have been possible without the efforts and leadership of Willie and his co-organizer, Professor Bart Diernyck (Tilburg University).
Ella Mae Matsumura Ella Mae Matsumura, senior associate dean for academic programs, is the winner of the 2019 Journal of Management Accounting Research Best Paper Award, an honor given to a paper considered to have the greatest impact in the field of managerial accounting research over a three-year period. The journal is a publication of the Management Accounting Section (MAS) of the American Accounting Association. Ella Mae’s study with co-author and Georgetown University Associate Professor Jason Schloetzer, “The Structural and Executional Components of Customer Concentration: Implications for Supplier Performance,” looks at the relationship between executional skills, supplier performance, and customer concentration for firms in the apparel industry. “Ella Mae does everything you can ask of a faculty member and does it very well,” said interim Albert O. Nicholas Dean Barry Gerhart. “As senior associate dean, she is not only one of our most senior leaders in the School, she is also an awardwinning teacher and researcher. This most recent award is just one more indicator of her tremendous contributions to the field of managerial accounting and to the School.” Ella Mae was recognized at the MAS national conference in January. She received the Notable Contributions to Management Accounting Literature Award from MAS in 2010. In addition to senior associate dean of academic programs, Ella Mae is the Robert and Monica Beyer Professor in Accounting in the Department of Accounting and Information Systems. She is a co-author of Management Accounting: Information for Decision Making and Strategy Execution (6th edition). Ella Mae has received numerous awards at WSB, including the Erwin A. Gaumnitz Distinguished Faculty Award and the Mabel W. Chipman Teaching Award.
David Pelletier David Pelletier, lead lecturer in Business Law I, was recognized as Lawyer of the Year by The Best Lawyers in America® (2019). Best Lawyers® recognizes one attorney per specialty and location. David, a partner at Axley Brynelson, LLP, garnered the highest peer review rating and feedback in Madison in the LitigationReal Estate practice area. In this practice, David represents lenders and creditors in complex commercial litigation, loan workouts, and bankruptcy and receivership matters. Additionally, he has represented lenders and creditors in farm and agricultural bankruptcies, as well as representing landlords in tenant disputes, and lenders in real estate and business finance. David is also recognized in Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law and Litigation – Bankruptcy.
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AWARDS, RESEARCH GRANTS, PUBLICATIONS, AND PRESENTATIONS
Joe Boucher Joe Boucher, senior lecturer in Business Law, was recognized as a 2019 Best Lawyers in America by Best Lawyers®. The award is based entirely on peer review, capturing the consensus opinion of leading lawyers about the professional abilities of their colleagues within the same geographical area and legal practice area. Joe was recognized in the areas of Business Organizations (including LLCs and Partnerships); Corporate Law and Closely Held Companies, and Family Businesses Law. With special recognition, Joe has been selected as the 2019 Closely Held Companies and Family Businesses Law Lawyer of the Year for the City of Madison, Wisconsin.
Ann O’Brien “Cyberattacks, Mitigation, and Regulation: An Active Learning Instructional Resource for Accountants,” by David C. Hayes, Ann D. O’Brien and Chelley M. Vician. A teaching case in the Journal of Forensic and Investigative Accounting. Accounting Research, Volume 11: Issue 1, January–June, 2019.
Terry Warfield American Accounting Association Public Interest Section, Best Paper Award, “Standardizing, Boundary Spanning, and Information Infrastructure,” March 30, 2019. Matthew Kaufman (PhD ’16), Amanda Convery (PhD ’15), Terry Warfield. Terry was named chair of the University Committee (UC) for the University of Wisconsin–Madison. The UC serves as the executive committee of the UW–Madison Faculty Senate. Warfield is serving as chair in his final year on the UC in 2019-2020. Terry was named to the board of directors of the University of Wisconsin Credit Union (UWCU). He also serves on the UWCU Funds Management Committee.
Emily Griffith “The elaboration likelihood model: A meta-theory for synthesizing auditor judgment and decision-making research,” by Emily Griffith, Christine Nolder and Richard Petty; Auditing: A Journal of Practice & Theory, November 2018. “Auditors, specialists, and professional jurisdiction in audits of fair values,” by Emily Griffith, was accepted for publication in Contemporary Accounting Research (2019 forthcoming).
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Karla Zehms “The Value Relevance of Managers’ and Auditors’ Disclosures About Material Measurement Uncertainty,” by S.A. Dennis (PhD ’15), J. Griffin, and K.M. Zehms. The Accounting Review (2019 forthcoming).
Rob Misey Rob Misey published the thirteenth edition of his second book, Federal Taxation: Practice and Procedure, for use in the fall of 2019. He continues to write the feature “Global View” for the Journal of Tax Practice and Procedure. Finally, Governor Evers recently appointed Rob to the Accounting Examining Board for Wisconsin.
Fabio Gaertner Gaertner, F. & Kausar, A. & Steele, L. (2019). “The Usefulness of Negative Aggregate Earnings Changes in Predicting Future Gross Domestic Product Growth,” Review of Accounting Studies. Gaertner, F. & Hoopes, J. & Maydew, E. (2019). “Shareholder Wealth Effects of Border Adjustment Taxation,” Journal of Law and Economics. Chyz, J. & Gaertner, F. & Kausar, A. & Watson, L. (2018). “Overconfidence and Corporate Tax Policy,” Review of Accounting Studies.
Mark Covaleski Mark Covaleski’s article with former Wisconsin doctoral student Matt Kaufman (PhD ’16) entitled “Budget Formality and Informality as a Tool for Organizing and Governance Amidst Divergent Institutional Logics” was accepted for publication in Accounting, Organizations and Society (forthcoming). Mark served as chair of the provost’s search committee for the dean of the Wisconsin School of Business, resulting in the successful completion and appointment of Professor Vallabh Sambamurthy. Professor Terry Warfield also represented the department on this committee. Mark has been teaching executive education, including teaching for such organizations as the American College of Physician Executives; the Mayo Clinic CALD (Career and Leadership Development) Program for Physician Leaders; the Harvard Community Health Plan Executive Education Series; and the Alternative Quality Contract (AQC) Leadership Seminar by Blue Cross Blue Shield of Massachusetts.
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AWARDS, RESEARCH GRANTS, PUBLICATIONS, AND PRESENTATIONS
Top Awards
From the American Accounting Association Thomas Linsmeier Professor Thomas Linsmeier (MBA ’80, PhD ’85), Thomas G. Ragatz Accounting and Law Distinguished Chair, was recognized with the American Accounting Association (AAA) 2019 Outstanding Accounting Educator Award. The award, sponsored by the PricewaterhouseCoopers Foundation, is presented to educators with sustained and substantive contributions at universities and whose career contributions include educational innovation, excellence in teaching, publications, research guidance to graduate students, and significant involvement in professional and academic societies and activities. Prior to joining the WSB faculty, Tom was a member of the Financial Accounting Standards Board. He also served on faculties at the University of Iowa, University of Illinois at Urbana-Champaign, and Michigan State University and as academic fellow and special consultant to the Office of the Chief Accountant at the U.S. Securities and Exchange Commission. He also has served as president of the Financial Accounting and Reporting section of the American Accounting Association. Jerry Weygandt, WSB Arthur Andersen Alumni Emeritus Professor of Accounting, received the AAA Outstanding Accounting Educator Award in 2001.
Emily Griffith Accounting Assistant Professor Emily Griffith was recognized with the AAA 2019 Deloitte Foundation Wildman Medal Award. Emily, with co-authors Jacqueline S. Hammersley (BBA ’86), a professor at University of Georgia and Kathryn Kadous, a professor at Emory University, received the award for their paper, “Audits of Complex Estimates as Verification of Management Numbers: How Institutional Pressures Shape Practice,” published in the Fall 2015 issue of Contemporary Accounting Research. The Deloitte Foundation Wildman Medal Award was founded in 1978 to commemorate John Wildman and to encourage research relevant to the professional practice of accounting to which much of Mr. Wildman’s life was devoted. Emily’s research focuses on auditor judgments about complex estimates and the involvement of non-audit professionals in auditing. Her work examines factors and interventions that help auditors combine information from diverse sources to identify problems within estimates.
Tom Linsmeier and Emily Griffith were recognized at the American Accounting Association’s Annual meeting on August 13 in San Francisco, California
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ADVISORY BOARD MEMBERS
DEPARTMENT OF ACCOUNTING AND INFORMATION SYSTEMS ADVISORY BOARD With two full board meetings each academic year, along with many informal consultations throughout the year, we are truly thankful for the time, energy, and feedback provided by our advisory board.
Steven Carter*
Amy Mutziger*
V.P. Finance Kleen Test Products Corporation
Assistant Corporate Controller Johnson Controls, Inc.
Robert J. Cottingham*
Sarah Nemke*
Tax Partner Wipfli
Senior Director SC Johnson
Dianne Dubois*
Jason Schultz*
Principal Maple Street Associates
Director Leveraged Finance Northwestern Mutual Investment Management Company
Katherine Feucht* AERS Partner Deloitte
Scott Harmsen* Tax Services Partner Grant Thornton LLP
Brian Kennedy Assurance Services Partner EY
Tim Mattke* Chief Executive Officer MGIC Investment Corporation
Derek Matzke* Assurance Partner BDO
Tom Sheahan* Partner and Assurance Quality Co-Leader Baker Tilly
Isabel Tarnowski* SEC Compliance Manager Douglas Dynamics
Troy Van Beek* V.P. Finance American Family Insurance
Todd Watchmaker* Tax Partner KPMG
Brad Zastoupil* Assurance Partner PwC
*Alumni
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975 University Avenue Madison, WI 53706
THE
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STAY IN TOUCH TERRY WARFIELD
KRISTEN FUHREMANN
PwC Professor in Accounting and Richard J. Johnson Chair of the Department of Accounting and Information Systems
Director, Professional Programs in Accounting kristen.fuhremann@wisc.edu 608-262-0316
terry.warfield@wisc.edu 608-262-1028