ACCY Update
From the Department Head
Undergraduate Accountancy Program
“It’s rewarding to be recognized for all the investments we’ve made toward growing the expertise of our faculty, transforming the lives of our students, and advancing the accounting profession.”
undergraduate accountancy program at Illinois has, once again, been ranked #1 in the nation.
It’s something we’ve known and felt in our hearts for a long time, but still, it’s rewarding to be recognized for all the investments we’ve made toward growing the expertise of our faculty, transforming the lives of our students, and advancing the accounting profession.
There’s so much about this recognition that we owe to our incredible alumni. Their contributions enhance our ability to make those investments, and their many personal successes represent the remarkable value of an accounting education at Illinois.
In this issue, you’ll learn about the faculty we’re recruiting, the outreach we’re facilitating, and the bold conversations we’re starting. And you’ll read about an alumna who is using her accounting expertise to help educate communities.
I hope these stories make you proud to be connected to this outstanding department and that, with every subsequent issue of this newsletter, you’ll continue to be inspired by the excellence of our research, teaching, and service to others.
Michael Donohoe Head of the Department of Accountancy
Irwin Jecha Distinguished Professor in Accountancy
Undergraduate accountancy program reclaims its top spot in U.S. News & World Report rankings
The latest U.S. News & World Report ranks the Gies Business undergraduate accountancy program #1 in the nation.
This recongition represents another strong result for the accountancy department, which also holds top positions in several other national rankings:
#1 faculty for accounting research
BYU Accounting Research Rankings
#1
in Relevance of Accounting Research (ROAR)
BYU Accounting Research Rankings
#3 business school for graduate accounting
U.S. News & World Report
New experts join accountancy faculty
Deonette Lambert
Assistant
Professor
of Accountancy
Deonette Lambert is a financial archival researcher who studies how corporate governance influences management decisions and firm outcomes. In recent work, she examined how legislation that protects journalists’ sources can influence the way managers make decisions.
“What stood out to me the most was the College’s excellent academic culture, strong commitment to innovation and collaboration, and the fact that we are encouraged to be ‘disruptors,’ with that neversettling attitude. I feel like I am a part of something great.”
Learn more about Deonette Lambert.
Sebastian Stirnkorb Assistant Professor of
Accountancy
Sebastian Stirnkorb applies experimental economics to financial accounting to study how traders aggregate, anticipate, and act on information. His research explores auditor behavior, the use of AI-supported advice, and how non-financial disclosures impact risk assessment.
“I had already worked with a number of Gies faculty, and I’ve spent time in Urbana-Champaign. The opportunity to come back was one I couldn’t pass up. I’m excited to join a community I already know is so grounded, respectful, and hardworking.”
Learn more about Sebastian Stirnkorb.
Kangkang Zhang Assistant Professor of Accountancy
Kangkang Zhang examines how securities regulation shapes behavior and outcomes in both the private and public sector. Her research found that state pensions tend to improve investment performance when subjected to investigation by the US Securities and Exchange Commission.
“I noticed a lot of collaborative research papers out of Gies. They are involved in a diverse set of topics, including archival research, experimental research, tax and financial areas, among others, which I can learn from.”
Learn more about Kangkang Zhang.
Bo Ren
Teaching Assistant Professor
Bo Ren is a former practicing auditor who studies how the regulatory environment affects auditor behavior. His research on the Tax Cuts and Jobs Act found that auditor-provided tax services can improve audit quality, offering new evidence about knowledge spillover and audit quality.
“Gies Business is renowned for its research, and faculty members conduct impactful research that’s published in top-tier journals. I’m also attracted to Gies Business because of the teaching excellence.”
Learn more about Bo Ren.
Hongyu (Jack)
Wang Postdoctoral Research Associate
Jack Wang joins the Department of Accountancy after earning his PhD in accounting from the University of Oklahoma. In his research, he strives to understand managers’ manipulative behavior through disclosures, as well as the capital-market and real effects of various business activities.
“Gies has the best accounting program with exceptionally talented students, outstanding faculty, a collaborative research environment, and unparalleled institutional support.”
Sani recognized for an outstanding track record in research
Assistant Professor of Accountancy
Jalal Sani was recently named a Gies Business Advanced Study Scholar for producing high-quality research. Sani examines the economic consequences of financial reporting and information disclosure.
“This award will meaningfully support my research by giving me the time and flexibility to maintain momentum on ongoing projects.”
Read the story.
Investing in the accounting talent pipeline through high school outreach
This summer, the Department of Accountancy welcomed 38 Illinois high schoolers to campus for the Accelerated Career Awareness Program (ACAP), a free summer residency that helps high school students explore careers in business.
ACAP is part of the College’s drive to expand access to business education and attract talent to its #1 ranked accountancy program. Students who attend the weeklong program are exposed to potential career paths and taught practical skills – everything from smart money management to building their personal brand.
One ACAP participant said, “Attending this program taught me that accounting opens many doors in multiple different industries. I used to think that accounting was simply about crunching numbers, but this program helped me understand that it is much more than that.”
Two senior directors in the accountancy department, Ashley Lamb and Sue Thomas, worked with leaders from the Chicago chapter of the National Association of Black Accountants (NABA) to organize the ACAP program at Illinois.
“Together, we design a program that is engaging, educational, and filled with professional development opportunities,” said Lamb.
Attendees said they were especially impressed by the College’s resources, passionate faculty, and the success rate at which students earn internships and jobs upon graduation.
“At first I assumed accounting would be one of my fleeting interests, but now I know I want to pursue it as a profession,” said another ACAP participant.
Read more about NABA and ACAP’s mission
Shaping the national conversation on tax policy
The 19th University of Illinois Symposium on Tax Research, organized by the Department of Accountancy, was held this year on September 12 at The Drake Hotel in Chicago.
This biennial event brings together nearly 100 researchers, professionals, and regulators from around the world to facilitate rigorous discussion on the evolving complexities of tax law and policy.
The symposium’s unique design aims to generate interdisciplinary discourse: two discussants – one from academia and the other from practice or policy – are assigned to each paper presented, prompting in-depth conversation about wider implications of the research.
Financial support for this event was graciously provided by Deloitte Tax LLP and the Irwin Jecha Endowment Fund.
Topics discussed at the 19th University of Illinois Symposium on Tax Research:
• The real effects of earnings stripping rules
• How tax policy shapes global spillovers of AI investments
• How US environmental subsidies impact corporate behavior regarding sustainability
• How tax provision uncertainty impacts decision-making
• The impact public libraries have on the Earned Income Tax Credit uptake rate
• Whether tax litigation is a reliable indicator of accounting confidence
From tutor to trusted advisor
“I’ve found my ‘sweet spot’ where I can combine my accounting skills with my personal desire to serve others.”
KERRI ELSON (ACCY ’20, MAS ’21)
Kerri Elson (ACCY ’20, MAS ’21) has parlayed her accounting expertise and passion for teaching others into a successful career in financial advising.
Having been recently promoted to investment advisor representative for Virtus Financial Group, she now conducts complex tax research and provides guidance for holistic wealth planning.
“I’ve found my ‘sweet spot’ where I can combine my accounting skills with my personal desire to serve others,” said Elson, who embraced teaching as head tutor for “Accounting and Accountancy” courses.
Excellence on campus and beyond
Elson’s time at Illinois wasn’t just about the numbers. She also found time to perform as the principal percussionist for the University of Illinois Philharmonia Orchestra and served in the student ministry at St. John’s Catholic Newman Center. In addition to her active role on campus, she also earned a spot on the Bronze Tablet and was named to the Senior 100 Honorary, a campuswide recognition of top graduates who excel at academics, leadership, and campus involvement.
Because Elson found accounting a natural fit, she pursued a Master of Accounting Science (MAS) degree to build her skill set and prepare her to sit for the CPA exam.
“The MAS program accelerated my professional development, offering great networking opportunities and helping me master group work dynamics,” said Elson. “It also solidified my foundation in data analytics
and taught me how to use large amounts of data to ‘tell a story’ to colleagues and clients – a skill that’s invaluable in the real world.”
Finding a deeper purpose
Initially, Elson pursued a corporate career, first interning and then working as a financial analyst for State Farm. She was drawn to the company’s culture and opportunities, gaining exposure in strategic reporting and investment accounting. But ultimately, Elson felt there was more she could do to pursue her purpose.
To decide on her next career move, she drew on her experience watching the community impact of her family’s small law practice in Canton, Illinois. She was drawn to the idea of using her communication and data analytics skills to work one-on-one helping others again.
“I knew I loved teaching people and getting them to the point where they understood something new,” said Elson. “Now as an advisor, I am passionate about explaining concepts in a way that helps my clients gain clarity and confidence about their financial future.”
She then reached out to her former professor Rob Metzger, who helped her make the transition to financial advising.
“He was so enthusiastic about how this would be a good fit for me,” said Elson. “He introduced me to some of his industry connections, and those conversations –along with many others – made me confident I was making the right decision.”
Elson joined Virtus as a financial services associate in 2024 and within months was promoted to her current position. The firm recently tapped Elson to help lead nonprofit workshops across central Illinois that educate the community on retirement and estate planning. She also continues to give back to her community as the founder of a women’s group that serves Catholic young adults throughout the Bloomington-Normal area and as a volunteer pianist at Lifelong Access, a nonprofit that supports families and children with disabilities.
Accountancy alumni among Crain’s M&A Notable Dealmakers
Congratulations to these accountancy alumni who have been named among Crain’s Chicago Business 2025 Notable M&A Dealmakers:
Keith Berk (ACCY ’80, JD ’83) Jessica Fairchild (ACCY ’97)
Has your passion for accounting led you to an interesting or unique career path? We’d love to hear from you – and maybe even tell your story in a future ACCY Update. Get in touch with our team at go.gies.illinois.edu/ACCYcareers.