


As you undoubtedly know, there is a nationwide shortage of accountants and there has been a decrease in the number of students majoring in accounting for many years. Given the importance of accountants and CPAs to the functioning of the economy, it is critical that we find ways to attract students into accounting. I am delighted to share that we have seen increasing enrollments, with a 25% increase over the past year. We will continue to focus on increasing enrollments to meet strong employer demand.
We have outstanding faculty teaching our introductory courses that all business majors take, and they continue to share the varied career paths that accounting degrees provide. We revamped our introductory financial accounting course to focus on essential material that all business students need and add more analytical and critical thinking into the course. After the successful launch of a sustainability accounting course for graduate students, we will offer a new sustainability reporting course for undergraduate students.
We continue to produce high-impact research contributing to the College’s strategic goals of research and national visibility. We rank in the top 100 for research productivity
Eric Rapley’s paper in the Journal of Information Systems received a Best Paper Honorable Mention Award
for community members
[see story on page 5]
based on the 2023 BYU Accounting Research Rankings and continue to be ranked No. 8 for archival tax research. Liz Cowle and Michelle Draeger published research showing that Big Four accounting firms’ donations to historically Black colleges and universities don’t match their pledge to increase diversity, and Jim Stekelberg and Thomas Vance found that consumers want to hear about a new tax break on electric vehicles from the government, not car dealers. These are just two examples of the impactful research that our faculty are conducting.
Our students continue to do amazing things. We are most proud of how they give back to the community, including through Beta Alpha Psi activities and the Volunteer Income Tax Assistance program. This year, accounting students and community volunteers completed more than 200 tax returns through VITA, providing more than $450,000 in refunds to our community members.
As we wrap up another academic year, I am pleased to share the many successes of the Department of Accounting’s students, alumni and faculty in this newsletter. We are truly grateful for the support of our alumni and friends. Go Rams!
Lisa Kutcher Professor and Chair
Contributor in the BYU Accounting Research Rankings for archival research in all areas of accounting (based on the past 6 years of research)
Eric Lohwasser received a Tinberg Teaching Innovation Grant $125k
The LEAD Award is given to the outstanding Master of Accountancy student each spring who has excelled in Leadership, Excellence and Academic Distinction. Audrey De Fries was nominated by faculty who praised her critical thinking skills and intellectual aptitude. At the age of 12, Audrey recalls shouting, “That sounds boring!” in response to her alpine ski coach choosing to study accounting. Unbeknownst to her, Audrey would walk the stage 10 years later with a Master of Accountancy and the MAcc LEAD Award to her name.
As an undergraduate at CSU, Audrey found her place within the accounting concentration as a sophomore, having declared three other majors prior. After her first financial accounting class, the rest was history. She further found her calling through an internship at a local aerospace engineering company, which spurred her interest in taxation, specifically international taxation. Audrey graduated in Spring 2023 as an honors student with a bachelor’s in business administration and a concentration in accounting. She then continued her time as Ram, completing her Master of Accountancy with a specialization in tax in Spring 2024.
Audrey attributes her success to the combination of unique experiences offered to her as a College of Business student, such as working as a student employee for the CSU sports medicine program for four years, taking Russian classes, completing a thesis on the Tax Cuts and Jobs Act of 2017, helping in the Accounting Tutoring Lab and serving as a graduate assistant. These varied opportunities at the College have prepared Audrey to start a new role as a staff member in international corporate tax advisory for Ernst and Young in Denver this summer.
Mason Brown
Audrey De Fries
Micah Floyd
Zane Haas
Abby Higgins
Ian Klava
Madelyn Langreck
Carter Minter (Fall)
Gabe Murdock
Jackie Natrasevschi
Lindsey Pollock (Fall)
Hagan Reisinger
Dustin Schmidt (Fall)
Hudson Scofield
James Spidel
Amber St. Laurent
Elizabeth is an incredible student who serves as an outstanding example for her peers. She served as president and treasurer of Beta Alpha Psi, a lab lead in the Accounting Tutor Lab, a volunteer in the VITA tax clinic, a member of the Deloitte Audit Innovation Campus Challenge team and as a College of Business Peer Mentor. She did all this while maintaining a perfect 4.0 GPA and interning in tax and audit at Soukup, Bush & Associates and Plante Moran. Faculty share that she has an outstanding work ethic, maintains a positive attitude toward learning, demonstrates an inquisitive nature, is hard working inside and outside the classroom, is always willing to go the extra mile, and is a cheerleader for the profession. Others also note that she stood out early as a student during the pandemic and that she takes a kind and caring approach when tutoring students. Elizabeth’s future plans include completing a Master of Accountancy degree and obtaining her CPA license.
Emmett is incredibly talented and has an inquisitive mindset and an aptitude for excellence. His excellence is demonstrated by his perfect 4.0 GPA and Dean’s List recognition. His passion for accounting led him to work on research with faculty through the Business for a Better World Undergrad Research Fellowship program to explore a future career in academia. Emmett’s commitment to his studies and extracurricular activities is clear through his participation in the Sonny Lubick Leadership Program, a leadership position in the Accounting Tutoring Lab and the completion of a certificate in business analytics. He has been recognized with the following honors: Honorable Mention for CSU Student Employee of the Year and the COCPA Gold Key Award. Emmett’s professional journey includes an internship at SM Energy in 2023 and another lined up at FORVIS for the summer of 2024. Emmett will pursue a Master of Accountancy at the College of Business starting in the fall of 2024.
VITA provides free tax assistance to people with an annual income of $60,000 or less and clients older than 60, including qualifying CSU students and employees. The program is run by Beta Alpha Psi, an international honorary and service organization for accounting, finance and information systems students, along with community member volunteers who are IRS-trained and -certified.
Accounting Department
Scholarship
Alexia Armatas
Elizabeth Pickrel
Barbara Boles Scholarship
Gabrielle Carpenter
Barbara Obester
Memorial Scholarship
Amber St. Laurent
Beta Alpha Psi Gamma
Tau Chapter Scholarship
Zane Haas
Abigail Higgins
Brianna Long
Carter Minter
Deloitte Scholarship
Madelyn Langreck
Dennis W. Wagner
Memorial Scholarship
Bryan Lezama Mendoza
Kermit L. Allard
Accounting Scholarship
Micaela Rajecki
KPMG LLP Scholarship
Theodore Kotsioris
Noah Smith
Molly Murray Accounting
Scholarship
Audrey De Fries
Micah Floyd
Jacqueline Natrasevschi
Ovintiv Accounting Scholarship
William Ramirez
Plante Moran Accounting Scholarship
Emmett Pelissier
Pricewaterhouse Coopers
Accounting Scholarship
Zoe Fritts
208
$2.1K 23 9
Don O. Nelson Memorial
Accounting Scholarship
Hagan Reisinger
Dr. Melanie Middlemist
Accounting Scholarship
Bryan Lezama Mendoza
Eide Bailly Scholarship
Katerina Hoopes
Forvis Scholarship
Noah Jenkins
Frank/Mary Balog First
Generation Scholarship
Dustin Schmidt
Jaylene Perez Vargas
Judith Holmes Bland
Scholarship
Matthew Richardson
Sydney Lloyd
Ronald and Judith Kerschner Family Accounting Scholarship
William Argotsinger
RSM Accounting Scholarship
Olivia Haffey
Spencer/McCosh Accounting Scholarship
Joana Ramirez
Ali Yoshida
Stephen M. Rosenberg, CPA Scholarship
Gabriel Murdock
Timothy Winning
CSU’s Gamma Tau Chapter of Beta Alpha Psi (BAP) reached a chapter achievement level of silver for 2023-2024, partly by averaging more than 20 hours of professional development and 20 hours of community service per member over the academic year. In total, BAP hosted 21 meetings this year at the College of Business.
The College’s BAP chapter has been recognized as silverachieving for a total of 24 years, but as requirements have shifted, the chapter has fallen to mission-based. This year, the chapter was dedicated to raising its distinction back to silver. One requirement to do so was attendance at either the national organization’s annual meeting or a mid-year meeting. The CSU chapter attended the mid-year meeting consistently in the past, so the officers decided to fly to Dallas in February for the mid-year meeting. The weekend consisted of participating in leadership activities, learning the best practices of other chapters and learning from BAP alumni. It was an incredible opportunity for the officers, who plan to incorporate many of the useful practices they learned about into their own chapter.
The chapter had a change of leadership for the spring semester because many of its officers graduated in December. One of the objectives set by the officer team was to increase the level of participation and excitement surrounding BAP. They hosted an off-campus social on a Friday evening at Chipper’s Lanes to encourage members to connect outside of a school setting. Around 15 people attended, which the officers were very pleased with, and they decided to continue hosting the off-campus social in the coming semesters. As officers, they also made it a mission to speak more about BAP to bring attention and energy to the organization. From Fall 2023 to Spring 2024, their average meeting participation rose from about 57% to about 74%.
As mentioned above, one of the year’s goals was to raise the chapter’s distinguishment from mission-based to silver. To
accomplish this, the officers attended the mid-year meeting in Dallas and hosted 21 meetings. The chapter also participated in nine outreach activities, four service activities and one essential skills activity. Recognizing that several chapter requirements include a minimum level of participation, the officers transparently communicated their objectives to members, fostering unity and aligning their efforts toward a shared mission. Through collective dedication, the chapter successfully realized these objectives.
BAP assisted the accounting department in hosting Meet the Firms events during both semesters this academic year, which featured more than 30 CPA and non-CPA firms to network with students. More than 100 students participated in each event.
New Members
Beta Alpha Psi Total Hours
989 Student Volunteer Hours
15 Professional Development Hours
1,092
13 Total Student Hours Graduating seniors were awarded stoles
2,081
This year, the accounting department proudly hosted the biennial Continuing Professional Education in Accounting Ethics event, welcoming our esteemed community of current students, alumni and professionals. On Nov. 3, more than 200 students and 45 professionals met on campus for a deep dive into ethical practices in the workplace.
The event featured an exceptional lineup of guest speakers:
• Michael Koening, global Chief Ethics and Compliance Officer for JBS shared insights on navigating compliance with his talk, “Compliance Is Not a Four-Letter Word: How to Succeed in Business and Avoid Fines, Settlements, Fees, and Handcuffs.”
• Bill Shuster, management department faculty, captivated the audience with his discussion on ethical leadership, urging attendees to embody the integrity that their loyal companions see in them in his presentation, “Ethical Leadership: Be the Person Your Dog Thinks You Are.”
• Jo Erven, President & Founder of Audit. Consulting. Education. LLC. delivered a compelling keynote address, shedding light on “The Seven Deadly Ethical Sins of Organizations.”
It was a day filled with enlightening discussions and invaluable knowledge-sharing, reaffirming our commitment to fostering ethical excellence in the accounting profession and connecting with our alumni.
Follow us: https://csu.bz/acct-linkedin
Don’t forget about the accounting alumni group: https://csu.bz/acct-alumni-group
If you would like to share any updates from your work, please email Department Chair Lisa Kutcher at lisa.kutcher@colostate.edu.
Tom began his banking career at FirstBank in 1983, starting as a management trainee and advancing to executive vice president before getting the itch to become an entrepreneur. He and his wife, Tammy, purchased the Western Hotel in Ouray in 1991, but he soon returned to banking, becoming executive vice president at the Bank of Telluride in 1993. Tom then joined the newly chartered First National Bank of Telluride in 1995 as president and CEO. Under his leadership, the bank grew from a single location with $18 million in assets to four locations with $160 million in assets and was cited as one of the best-performing banks in the country.
When First National sold to Alpine Bank in 2005, Tom became a regional president and director and in 2009, he moved to Glenwood Springs, where Alpine is based, to oversee back-room operations of the $2 billion dollar bank. Tom was named chief operations officer in 2013, and he retired in 2022 as chief administration officer.
Tom remains on Alpine’s board of directors and has served on the board of several other organizations, including the Mount Sneffels Education Foundation and Rocky Mountain PBS. He also spent six years as chair of the Colorado Securities Board.
Tammy is the managing partner of FORVIS’ Colorado and Salt Lake City offices. In this capacity, she is responsible for setting the strategic direction of the practice and leading a team of nearly 200 professional and support staff who provide unmatched client experiences to thousands of clients and industry colleagues. She also is responsible for the operations of the office, which include planning and executing support of new growth areas, extensive recruitment efforts, and daily operations.
Tammy has more than 20 years of experience working with healthcare clients. She provides assurance, consulting and other accounting services to governmental and not-forprofit hospitals, mental health centers, and private equitybacked portfolio health care companies. She is passionate about impacting positive change and has participated in numerous firm-wide initiatives to include talent acquisition, foundation strategy, and inclusion and diversity initiatives.
Tammy served on the board of directors for the Ronald McDonald House Charities of Southern Colorado for many years and holds an honorary board position.
Tammy is the current past-president for the Colorado Healthcare Financial Management Association board of directors and is currently serving on the board of directors for the Cheyenne Mountain Zoo Endowment Fund.
Learn more about this year’s honorees
csu.bz/acct-hall-of-fame-2024
Andy retired from RKL LLP in Reading, Penn., in 2018, after 26 years. While at RKL, a top 100 CPA firm, Andy served in a variety of roles, including tax department PIC, wealth management president, board chairman and CEO.
After graduating from Penn State in 1978, Andy headed west to begin his career with Touche Ross in Denver. After three years, Andy enrolled in the master’s in tax program at the College of Business. Andy returned to Touche until the end of 1984, when he became tax director at Central Bancorporation. When the bank was sold in 1989, Andy moved back to Pennsylvania and joined Ernst & Young as a senior manager. After two years, realizing that he really enjoyed working with closely held businesses, he joined Reinsel & Company (now RKL).
Along the way, Andy became extremely involved in the profession and in his community. He spent 10 years on AICPA council and 26 with PICPA, including local chapter president, PICPA president and CPA PAC board. He was named a “Top 100 Most Influential Practitioner” in 2006 by Accounting Today. He also volunteered with the Boys & Girls Club for 20 years (board chair and president of the foundation); United Way for 10 years (leadership giving chair); the Greater Reading Economic Partnership for 10 years (executive committee); and St Joseph’s Medical Center board 12 years (board chair).
Andy loved working with a wide variety of clients, giving back to the community and being an ambassador for the CPA profession. Andy’s wife, Kathy, and their children, Travis and Erin, are all CPAs.
Cheryl is the president, CEO and board member of Bohemian Foundation, a philanthropic organization dedicated to working to support local, national and global communities. Under her leadership, the foundation’s program areas support youth, economic stability, live music, musicians, a vibrant community, a strong democracy, and global challenges in health, poverty and the environment.
Cheryl is a philanthropist, community leader and 30year volunteer in the education and nonprofit sectors. She has held board and leadership positions with more than a dozen diverse organizations. Locally, she serves UniverCity Connections, the Downtown Development Authority and Give Next’s Advisory Committee. She champions student-centered, culturally responsive music for youth through her involvement in former Gov. Hickenlooper’s Take Note Colorado initiative and the national board Music Will. She also serves on the national board of Book Trust.
Cheryl’s early career was in public accounting as a financial statement auditor. She earned a Bachelor of Science in Business Administration with an accounting concentration from the College of Business. In 2014, she was awarded the College of Business Distinguished Alumni Award. Cheryl’s contributions have earned her accolades such as the Outstanding Community Education Advocate Award from Poudre School District Foundation in 2015 and recognition as a Nonprofit Human Services honoree at BizWest Northern Colorado Women of Distinction in 2019.
If you know anyone else who would be a great fit for the Accounting Hall of Fame, please submit a nomination online:
csu.bz/acct-hall-of-fame
We extend our heartfelt gratitude to everyone who attended this year’s annual Accounting Awards Banquet on April 23. With more than 145 alumni, students and friends in attendance, the event was a true testament to the strength and unity of our accounting community. Your presence and participation made the occasion truly memorable, and we appreciate the opportunity to connect and celebrate together.
Thank you, sponsors!
GOLD SPONSORS
GREEN SPONSORS
WHITE SPONSORS
STUDENT SPONSORS
When it comes to diversity, Big Four accounting firms don’t put money where mouth is”
csu.bz/big-four-diversity-study
In recent years, the Big Four accounting firms have been outspoken about the need to increase diversity in their profession. A new analysis of the firms’ charitable giving paints a different picture, finding that those firms’ donations to accounting programs at historically black colleges and universities (HBCUs) doesn’t match that rhetoric.
In “Firms’ Investments in Historically Black Colleges and Universities,” the accounting department’s Elizabeth Cowle and Michelle Draeger and their coauthor examine tax filings from charitable foundations aligned with the major accounting firms and found the overall percentage of allocations to HBCUs has remained stagnant between 2009 and 2020. The paper, which is published in Accounting Horizons, also found the majority of the foundations’ contributions went to a handful of highprestige programs, effectively neglecting most of the 23% of Black accounting graduates that enter the workforce from HBCUs.
“If you look at these numbers, it’s pretty sad that about 75% of HBCUs are not getting any money at all even when they have a significant number of accounting graduates,” Cowle said. “If you’re trying to increase diversity, it seems like one way to do so could be to target this largely untapped talent pool.”
Potential buyers want to hear about new tax break on electric vehicles from the government, not car dealers” “
csu.bz/ev-tax-credit-study
Most people are reluctant to take anything car dealerships say at face value – and that includes information about a new change to the tax code that could offer what’s essentially an immediate discount of up to $7,500 on qualifying electric vehicles.
Instead, a study published in the journal Energy Policy by James Stekelberg and Thomas Vance found that potential buyers would be more interested in taking advantage of this tax break – which went into effect on Jan. 1 – if the government tells them about it first.
“If you first hear about this when you’re negotiating for a vehicle, you might think something suspicious is going on,” Stekelberg said. “But when you hear this information from the IRS or another government source, it seems much more credible.” Stekelberg and Vance hope their findings help guide policy makers during the rollout of this new EV incentive, which allows qualifying customers to receive a $7,500 tax credit on eligible vehicles at the point of sale rather than after they file their income taxes, which is how it was before.
“The broad message is: If you want this policy to work as much as it possibly can, make sure you’re communicating it as fully as possible to potential consumers,” Vance said.
Tiffany is set to join the College of Business’ accounting department in August as an instructor.
Tiffany is a proud alum who earned her bachelor’s and master’s degrees in accounting from the College of Business.
Tiffany joins us after 12 years at Front Range Community College, where she taught business and accounting courses at the Larimer County campus. Before academia, Tiffany worked as an auditor in Deloitte’s Denver office. Tiffany will teach introductory accounting courses and is excited to bring her active learning style and enthusiasm to our accounting students.
Outside of work, you’ll find Tiffany enjoying hiking, paddleboarding, fly fishing, skiing and cheering on the Rams basketball team with her family.
Dean is a Colorado native and has a bachelor’s degree and a master’s in taxation from the College of Business. He started his career in Arthur Andersen LLP’s tax department in 1983. Dean left Arthur Andersen to become a founding partner of Dunn Henritze LLP in early 1997.
His professional and personal accomplishments include advising ultra-high net worth families in a multitude of areas and volunteering as chairman of the board of directors for Step 13 for more than 20 years.
Students have said that Dean “is one of the most knowledgeable professors I’ve ever had” and that his “real-world experience and stories enhanced the course content.”
“More than
20 years after the Enron
scandal, what have we learned?”
Listen to assistant accounting professors
Eric Lohwasser and Michelle Draeger discuss the effectiveness of the 2002 Sarbanes-Oxley Act, as well as some of its unintended consequences.
csu.bz/big-four-diversity-study
Nick has eight years of work experience in the accounting and financial industries.
Following college, he worked at KPMG and obtained his CPA license. For the past four years, Nick has worked at PracticeCFO as a financial advisor, acting as a main point of contact for dentists and other small business owners while obtaining his CFP license.
Nick has a strong passion for teaching and encouraging student participation. He prides himself on making students feel comfortable with being uncomfortable and supporting them while challenging them within the classroom. He believes accounting is the baseline for all businesses, and as such, it is critical for students to develop a strong understanding regardless of where their career path may take them.
In Nick’s free time, he enjoys playing music, volunteering, hiking, playing hockey and spending time with his dog, Ciara.
Chris Becker Clinical Professor of Business Ethics Dean’s Scholar
Derek Johnston Professor, KPMG Faculty Fellow
Nate Nguyen Assistant Professor
Chris Ritsema Clinical Professor
Tiffany Broesche Instructor
Lisa Kutcher Professor and Department Chair, Deloitte Foundation Faculty Fellow
Lauren Paul Lecturer
Liz Cowle Assistant Professor, Dean’s Scholar
Eric Lohwasser Assistant Professor, Dean’s Scholar
Bill Rankin Professor
Mandy Sharpe Lecturer
James Stekelberg Associate Professor, Plante Moran Faculty Fellow
Michelle Draeger Assistant Professor, Dean’s Scholar
Jenny Luchs-Nunez Assistant Professor
Eric Rapley Associate Professor, ACT Faculty Fellowship for Excellence
Thomas Vance Associate Professor
The Department of Accounting is grateful for the support of the members of the Advisory Board and the Early Career Advisory Board. These alumni and friends of the department provide advice and invest time and money to support our students, faculty and programs. Thank you!
Thomas Ahrens Eide Bailly
Jim Brendel Retired- Moss Adams
Bob Clark Eide Bailly
Toby Clary Soukup, Bush & Associates
Carl Daugherty Deloitte
Kevin DeAutremont Plante Moran
Jeff Finnin Retired- CoreSite
Karen Krebsbach EY
Rob MaCoy FORVIS
Candace Mantelli RSM
Kit Maxwell Retired- Deloitte
Wendy McCray-Benoit PwC
Todd Rubright Retired- PwC
Ryan Sanger Hensel Phelps
Jeff Worlton KPMG
Dan Brown Plante Moran
Haley Fick Boettcher Foundation
Carlyn McDonald Heska Corp
Kayla Mees RubinBrown
Carley Randall Ovintiv
Desiree Rich Vectis Automation
Sarah Ross Advanced Energy
Caleb Thetford Soukup, Bush & Associates
Taylor Wild PureWest Energy
Department of Accounting
Rockwell Hall 1271 Campus Delivery
Fort Collins, Colorado 80523-1271
Nominate someone for the Department of Accounting Hall of Fame csu.bz/acct-hall-of-fame
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Meet the Firms
Date: September 10, 2024 (6:00 pm - 8:00 pm)
Location: Lory Smith Alumni Center
Young Alumni Social in Denver
Date: Early Fall
Location: Downtown Denver, TBD
Accounting Awards Banquet
Date: TBD
Location: TBD