In 1902, the University of Illinois offered its first accounting courses to shape leaders who could help governments, businesses, and the public make sense of a rapidly shifting industrial landscape. More than 100 years later, that purpose still drives the way we do business today.
In 2024–2025, members of the Department of Accountancy delivered on our purpose in exceptional ways.
We broke new ground in research, enhancing the collective understanding of how businesses operate for our fellow researchers and practicing professionals alike.
We provided transformative education to our learners, equipping them with skills and tools they need to analyze and address evolving business challenges.
And we celebrated our alumni who pursued unconventional career paths, generating new possibilities for accounting degree holders.
Our department has achieved so much, from leveraging shifts in CPA licensure to create new opportunities for our students, to continuing the excellence of a premier PhD program, to becoming the #1 faculty for accounting research and making Gies Business a destination school for graduate accounting. But we never rest on our laurels. We consistently challenge the status quo to set the bar for excellence at new heights.
Head, Department of Accountancy
Irwin Jecha Distinguished Professor in Accountancy
What challenging the status
A graduate program at the top of national rankings
Gies College of Business’ graduate accounting program is currently ranked #3 in the nation by US News & World Report. This ranking reflects our department’s reputation, as viewed by peer business school deans and senior faculty.
Faculty members recognized for excellence
Senior Instructor of Accountancy Mitch Fisher received the 2025 Excellence in Undergraduate Teaching Award from the Gies Business Alumni Association. He was also named a 2025 Equity Champion Instructor by Illinois Student Success. Fisher holds a bachelor’s degree in accountancy and a master’s degree in economics from University of Illinois.
Susan Curtis, senior lecturer of accountancy, received significant praise from students who completed the Chancellor’s Senior Survey and earned the University of Illinois’ Student Success Impact Award in recognition of her positive influence on student experiences. Curtis has served on the accountancy faculty at Gies Business for 25 years, employing human-centered teaching methods that aim to make learning enjoyable.
Defining what a master’s degree in accountancy
New CPA pathways present opportunities for students
On May 22, 2025, the Illinois General Assembly amended the Illinois Public Accounting Act, creating two additional pathways for certified public accountant (CPA) licensure.
While current regulations require 150 hours of college-level credit and a year of relevant work experience to become CPA-eligible, new requirements will also allow bachelor’s and master’s degree recipients with requisite amounts of relevant work experience to earn their CPA after passing the exam.
Students recognize continued value of MAS degree
The addition of new CPA pathways in Illinois and elsewhere present opportunities for students and accounting educators alike. While it’s true that many learners seek out master’s programs in hopes of fulfilling CPA credithour requirements, it’s clear that Gies Business graduate programs, especially the Master of Accounting Science (MAS) program, deliver significant benefits beyond credit-hour minimums.
In response to a recent Yellowdig survey, current MAS students affirmed that the Gies Business MAS degree remains valuable despite coming changes to CPA eligibility requirements because it provides an infrastructure of opportunities that jumpstart professional success.
This chart represents 39 self-generated responses and follow-up comments from Gies Business MAS students. Totals represent the number of responses that mentioned the corresponding benefit.
Most Commonly Mentioned Value Propositions of MAS Desgree
Exam Preparation TIme
is really worth
Top Three Benefits of the Gies Business MAS Degree (according to current MAS students)
1
Dedicated time and structure for CPA preparation 2
Advanced accounting and technical expertise
3
Access to a high-impact professional network
“From my perspective, pursuing a master’s in accounting isn’t solely about meeting hour requirements – it’s about deepening expertise, building a strong professional network, and boosting long-term career prospects.”
“I think the personal growth aspect is underrated but so important. The master’s program really does push you outside your comfort zone, and that confidence can make a big difference when stepping into high-stakes roles or interviews.”
“A master’s program offers expertise in high-demand areas such as data analytics or forensic accounting. These specializations are rarely covered in undergraduate curricula but are critical in today’s evolving accounting landscape. Graduates gain a competitive edge by mastering technology tools, positioning themselves for roles in future career areas like consulting.”
“University of Illinois is a very prestigious program with a good reputation. For example, during my internship, half of the people I worked with went to Big Ten schools, with a majority coming from Illinois. With this, it is easier to make connections as Illinois has such a good reputation in the accounting world.”
MAS program welcomes new director
Professor Ed Rogowski, clinical assistant professor of accountancy, stepped into the MAS program director role this year. Rogowski is an accomplished chief audit executive and board chair who returned to academia after a decades-long career serving organizations in the banking, pharmaceutical, airline, and service industries, including multiple Fortune 500 companies. He is a certified public accountant and chartered global management accountant, and he holds a bachelor’s degree in accountancy from the University of Illinois Urbana-Champaign.
Throughout his career, Rogowski has been sought after and recognized for his efforts to develop talent in the accounting profession. While working in the private sector, he derived a lot of satisfaction from mentoring employees, and he now enjoys using his expertise to help students in his auditing and risk management courses.
“I thought teaching and developing curriculum would be a great way to give back to the university,” said Rogowski. “I owe my career to the skills that I learned at Illinois. One of the greatest joys I have is serving the students and helping them as they begin their careers, sharing advice and opportunities with them.”
Shaping modern business perspectives
Providing critical tax knowledge to world leaders
Accountancy Professor Danielle Higgins Green visited the White House to present the findings of her research regarding the Corporate Alternative Minimum Tax (CAMT).
Green and her co-researchers examined wide-ranging effects that the CAMT could have on the US tax system and businesses subject to the new law. The resulting paper was published in the National Tax Journal
“Presenting our research to the White House Council of Economic Advisers was a remarkable opportunity, as they directly advise the President on economic and tax policies,” Green said. “It validates our work to know that our research could shape policymakers’ perspectives on the effectiveness of the new law. This experience is undoubtedly a highlight in my career as a tax researcher.”
Green (right) and her co-researcher Erin Henry present the findings of their tax study at the White House.
Innovating in research design
Board diversity has long been a topic of interest for researchers, prompting more than 3,000 studies investigating its effect on company outcomes. And yet, because board turnover often coincides with other operational decision-making, it remains difficult to point to definitive causal links between changes in board diversity and business outcomes.
In an article published in The Accounting Review, professors Clara Xiaoling Chen and David Godsell, together with Gies PhD graduate Dave (Young-Il) Baik, used instances of involuntary diversity interventions – for example, a regulatory mandate from a country’s governing body – as a variable to test whether an
increase in board diversity triggered an effect on investment efficiency.
They compiled more than two decades worth of data from 35,857 companies in 59 countries into a catalog and captured at least one plausible correlation between board gender diversity and improved investment efficiency.
“The catalog permits us and future researchers to draw some of the most credible and generalizable inferences you can document because it’s unlikely that an alternative explanation varies across countries and over time in the unique chronological pattern of these regulatory interventions,” said Godsell.
In 2024–2025, the Department to the larger business
(From left to right) Clara Xiaoling Chen, David Godsell; not pictured: Dave (Young-Il) Baik
Department of Accountancy at Gies College of Business contributed relevant, impactful knowledge business community, gaining trust and influence as a world leader in accounting expertise.
Revealing AI’s economic impact
Accountancy professors Oktay Urcan, Andrea Rozario, and William Ciconte completed multiple studies on the impact that AI regulation has had on the business sector.
They reviewed the scope of current AI regulations to examine their effect on corporate risk and companies’ willingness to innovate. The empirical evidence they collected provides a foundation for understanding how the implementation of such regulations could influence economic outcomes.
“We essentially studied the benefits and the costs associated with AI regulation,” said Rozario, “and we believe that our findings are important to the global discussion on how or whether AI should be regulated.”
Identifying new considerations for audit litigation
SEE THE STUDY
Despite following standards for high-quality audits, audit firms can still be held liable for mistakes their client feels they made.
In “How Trial Preparation Factors Influence Audit Litigation Outcomes: Insights from Audit Litigators” (The Accounting Review), professors Mark Peecher and Dan Zhou explore top variables that influence trial verdicts, providing insights that can help audit firms avoid lawsuits by being more proactive in their communication and client engagement.
In less fortunate scenarios, these findings can also be valuable to firms facing litigation.
“The findings from our paper could assist audit firms and litigators in developing more accurate verdict expectations to inform their settlement strategies,” Zhou said.
Exposing hidden truths about accounting practices
Accountancy Professor Alex Vandenberg wanted to know how often business execs fudge their earnings statements, so he did something unconventional: he asked them to admit it outright. His novel approach yielded surprising results. In an episode of Gies Download, Vandenberg talks about this groundbreaking study that sheds light on how common earnings manipulation really is.
(From left to right) Mark Peecher, Dan Zhou
(From left to right) Oktay Urcan, Andrea Rozario, William Ciconte
Crafting a space where scholars can thrive
A kickstart to a higher calling
After spending nearly a decade working as an auditor, Isaac Yamoah packed up his desk and returned to academia as a PhD candidate in accountancy at Gies Business.
Inspired by his own work experiences, he now investigates how client interactions and an evolving digital landscape influence auditors’ judgment and decision-making.
Yamoah hopes that his contributions will play a part in the larger effort to attract and retain accounting professionals to the field, and he’s already making an impact. Not only has his work been accepted in Contemporary Accounting Research, he’s also earned numerous accolades for his research and teaching abilities.
A community of high-impact scholars
At its inception, education scholarship
Gies Business’ #1 ranked accounting faculty and innovative curriculum attract promising students from around the globe. After earning doctoral degrees in accountancy from Gies Business, Brian White and Steph Grant went on to make their own mark on behavioral research in accounting. Here’s what they had to say about their time in the program:
“The quality and breadth of the Gies PhD program in accountancy are second to none. I was initially drawn to Gies by its faculty’s reputation for outstanding behavioral experimental research. In addition to the excellent behavioral training I’d hoped for, I left Gies with a deep understanding and appreciation of the many other methodologies and topical areas that define accounting scholarship. The program’s strong interdisciplinary partnerships – particularly with faculty in marketing and psychology in my case – were also central to the breadth and quality of my PhD experience.”
Award-winning researcher Brian White (PhD ’12) was recently promoted to full professor at Cornell’s Samuel Curtis Johnson Graduate School of Management. He previously served on the accounting faculty at University of Texas at Austin and is an editor for Contemporary Accounting Research.
“Early in my program, my mentors encouraged me to work on coauthored projects, which helped build my research skills and a strong research pipeline. These collaborations led to meaningful professional relationships that have been invaluable throughout my career. The other PhD students in my cohort weren’t just colleagues – they became close friends. The faculty were approachable and genuinely invested in our success. I spent a lot of time with them in professional and informal settings, which helped create a strong sense of community and made the PhD experience at Gies truly special.”
Stephanie “Steph” Grant (PhD ’16) is the Deloitte & Touche Endowed Professor in Accounting at University of Washington’s Foster School of Business. In her research, she examines how disclosure mediums and practices can influence investor relations.
LEARN MORE ABOUT ISAAC
inception, University of Illinois’ PhD in Accountancy program represented a significant shift in the delivery of accounting education in the United States, merging theory with practice. That innovation led to more than 85 years of field-defining scholarship from Illinois alumni.
A home base for emerging thought leaders
PhD candidates in the accountancy department hold office space in Irwin Doctoral Study Hall. The hall was renovated in 2018 to provide modernized work, break, and gathering areas for these burgeoning researchers.
Did you know?
Bloomington, Illinois, native
A. C. Littleton (1886–1974) created the University of Illinois’ first graduate course in accountancy in 1921 and directed the development of the first accountancy PhD program in the United States.
Total accountancy PhDs conferred by University of Illinois
First PhD in accountancy issued by University of Illinois
Photo taken by Bernard A. Strauch | Provided courtesy of Bernard A. Strauch Photograph Collection, 1890–1950
Expanding possibilities for accounting experts
With a strong foundation of accountancy expertise, our alumni build successful careers, and in some cases, take themselves to exciting places Here are a just a few places you can find Gies Business accountancy graduates.
Defending business ethics
“I spent eight years in external and internal audit . . . . I later pivoted my career into white collar crime investigation and defense as an attorney. My accounting and audit background allows me to better understand accounting and corporate operations, providing me with a unique competitive edge in the legal industry.”
Xinxin Ye (ACCY ’13, MAS ’14)
Driving financial stewardship
“I am the CFO of a private equity real estate firm with over $20 billion in real estate value under our control. While I took my last accounting class at U of I 46 years ago, I still remember many of the lessons and concepts taught by the outstanding faculty including the late, great Ken Perry. I consider being an ‘Illini Accountant’ one of my greatest career accomplishments.”
Michael Keesey (ACCY ’79)
Steering public policy
Former Secretary of Transportation and White House Chief of Staff Sam Skinner (ACCY ’60) said the rigor of his accounting education at Illinois helped him build discipline and confidence, laying the foundation for his career in Washington.
Funding progress in technology
“After graduating with a master’s degree in accounting and passing the CPA exam in my final semester, I worked in investment banking, advising technology companies on M&A transactions. I later moved into corporate finance, working at growth stage tech companies as a strategic finance leader. I utilize my accounting knowledge and CPA credentials nearly every day.”
David Farber (ACCY ’09, MAS ’10)
places they never imagined.
Facilitating philanthropy
“I serve on a charity board that raises funds and awareness for pediatric research. My master’s in taxation prepared me for my role on that executive board by providing me with leadership and accounting skills that make me a valuable contributor to our board’s success. I maintain the budget of a board that raises between $3–4 million annually and keep our board in compliance with nonprofit accounting rules and accounting standards.”
Megan Bert (ACCY ’02, MAS ’03)
“Gies College of Business lifts people up with a high-quality education. It was transformative for me to be there, and I want to see that opportunity go to others.”
Maureen McNichols (ACCY ’75, MAS ’76)
Educating future accounting experts
As the Marriner S. Eccles Professor of Accounting and Public and Private Management at Stanford Graduate School of Business, Maureen McNichols (ACCY ’75, MAS ’76) uses her extensive accountancy expertise to advise and instruct a new generation of accounting professionals and thought leaders.
McNichols enrolled in the Master of Accounting Science (MAS) program with the idea that she would work as a CPA after she graduated. But after realizing her passion for teaching during the master’s program, she ended up taking a different path – one that led to her doctoral degree, a tenured position at Stanford, and four decades of research collaborations with some of the field’s top experts.
Today, her acclaimed research writing has exposed practices and conditions that prevent investors from receiving crucial information, and the impact that has on stakeholder decisions. She has also served the profession in editorial roles for several top accounting journals and as a member of the Public Company Accounting Oversight Board Standing Advisory Group.
“Gies College of Business lifts people up with a high-quality education. It’s a wonderful community with fabulous researchers, teachers, and incredibly dedicated people who are going to make a difference in the world. It was transformative for me to be there, and I want to see that opportunity go to others.”
