Villanova School of Business | 2019 Accounting Newsletter

Villanova School of Business

ACCOUNTING & INFORMATION SYSTEMS

MESSAGE FROM THE CHAIR

As an educator, few things are as important as teaching, generating knowledge and making a difference in the world and it happens regularly in the Accounting & Information Systems (A&IS) Department. A close second might be the opportunity to share these accomplishments and milestones with you.

This year brought exciting changes in A&IS, especially to our Master of Accounting program. The growth of big data and technology is changing the accounting industry in countless ways and we recognize that our curriculum must keep pace.

Our enhanced program, called the Master of Accounting with Data Analytics does not diminish the accounting substance by any means but instead imbues a stronger emphasis on data, analytics, and technology—similar to the graduate program we launched with KPMG in 2017 (Villanova was one of the first two schools to kick off this program with KPMG). As we look ahead to Fall 2020, we will launch a similar program with KPMG with a focus on tax. We are honored to be chosen to deliver this new curriculum and look forward to working with KPMG to prepare for its launch.

This issue also highlights several other events that took place this past year. We are sad to see two of our faculty move to other opportunities. Assistant Professor Jeff Pelesh retired after more than 28 years of service at Villanova.

Jeff brought so much excitement and passion to teaching, often integrating emerging issues from the professional world into the classroom. Also, Associate Professor

Erica Harris, PhD left VSB to return to her hometown in southeast Florida, where she will continue her career as a professor. We thank them both for their contributions to VSB and the department.

At the same time, we welcome new faculty to the department. Laura Iacona, a former partner and local audit leader at Grant Thornton, joins us as a business fellow.

Laura has been one of our top adjunct faculty and both our students and faculty will benefit from her taking on this more prominent role. We are also pleased to add Bob Arakelian to our Management Information Systems faculty.

Bob was previously a CIO and has extensive experience teaching at the collegiate level. Bob will be teaching in our undergraduate and graduate programs.

This issue also highlights faculty accomplishments, student awards and other student accomplishments as well as changes to our advisory board. There is more in the newsletter, so please open up and enjoy. Thank you for all your support over the years. If you have any questions, thoughts, or comments, please contact me.

Best Regards,

Michael F. Peters, PhD Chair, Department of Accounting & Information Systems Alvin A. Clay Professor of Accounting Villanova School of Business

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STUDENT PLACEMENTS The department continues to place its students in marquee career opportunities. The below chart highlights the professional career paths by our students seeking full-time employment in accounting.

• For both undergraduate and graduate programs, about 83% of graduates will be employed at global firms.

• For both programs, the placement numbers are as of the May 2019 graduation date.

• For both programs, the 2019 placement results are nearly identical to the 2018 placement results.

2019 Undergraduate Accounting Placement 118 Students1 3%

2%

3% 7%

Auditing Advising Taxation Analyst/Investment Banking

15%

54%

Forensics Corporate Still Looking

16% The 118 number includes 11 students pursuing graduate studies that have all secured employment prior to entering the Villanova MAC program.

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2019 Graduate Accounting Placement 24 Students 4% 4%

Auditing Taxation Advising

21% 71%

Still Looking

Note: Placement data was not available for the 2019 MIS graduates as of the newsletter date.

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FACULTY FOCUS

Faculty Spotlight

Danielle Lombardi, PhD Assistant Professor, Accounting & Information Systems

In many ways, the Villanova School of Business feels like home to me. Here I find common values and the supportive environment that my family needs. It’s similar to my experience growing up in a large family where I enjoyed a lot of laughs, grew through learning and shared in responsibilities—all backed by a strong support system.

I found my way to teaching a little later than most. After earning my undergraduate accounting degree from The College of New Jersey, I began my career as an auditor at PwC. There I participated in countless fundraisers, charities and community events, which was a great aspect of working for the firm. Although I truly enjoyed my job as an audit manager, something was missing. I knew it was time to follow my passion for academia.

During my tenure as a PhD candidate at Rutgers University, I expanded my family, so I expedited my studies and completed the program in four years. I even won an Outstanding Dissertation Award! Now I have the best of both worlds: a rewarding career in academia and a true work/life balance at Villanova, which allows me to enjoy being a soccer, football and class mom!

Within the A&IS faculty, I can leverage my practical audit experience to perform research that impacts both academia and practice. I also bring that knowledge and experience into the classroom to lead discussions that students find relevant. I serve as a faculty mentor to students and assist them in navigating through the decisions they are faced with leading up to graduation. I cannot explain the joy it brings to hear from my previous students— whether to share in their successes or to be a sounding board. The Villanova community is strong and I am glad to be a part of it.

Inside at the PCAOB:

Denise Downey Shares Her Experience During the 2017-2018 school year, Denise Downey, PhD ’05 VSB, ’08 MAC, Kevin Tedeschi ’71 Assistant Professor, Accounting, took a leave of absence to work for the Public Company Accounting Oversight Board (PCAOB) in Washington, D.C. While at the PCAOB, Dr. Downey served as a senior economic research fellow, using inspection data to study audit quality on US global group audits (i.e., audits of multinational entities where a single US firm signs the audit opinion, but other foreign firms participate in the audit). In her daily role at the PCAOB, Dr. Downey had the opportunity to interact with individuals across the organization on this topic, including the Board, enforcement, inspections and standard-setting staff.

understand the regulatory environment auditors operate in. To provide students a more complete perspective, Dr. Downey also hosted a partner from a Big 4 firm to talk to her classes about the inspection process.

Dr. Downey’s research with the PCAOB remains in progress.

She and her co-author Jean Bedard have a newly available public paper that uses PCAOB data to investigate whether restatements differ with foreign auditor participation in audits led by US global network firms, and whether audit partner incentives moderate those associations. Their second paper, which they hope to make publicly available shortly, more directly focuses on the role of component auditors in global group audits. Reflecting on her year away, Dr. Downey states, “It is important to me to stay immersed and current in practice. This was an incredible opportunity to do just that, and I am thankful to everyone who made it possible.”

Upon returning to VSB, Dr. Downey ensured that students directly benefited from the knowledge she gained, as they engaged publicly available PCAOB reports and data to better 3

Keith Wright, MIS Assistant Professor of Practice, A&IS and Entrepreneur: Connecting Theory and Practice Teaching and entrepreneurship often complement one another and that’s certainly been the case in my career. Back in the 1990s, I was a tenured professor in Canada, but left to join the software industry in Palo Alto during the dot com boom. I worked primarily in presales and professional services as a global VP and SVP with SAP. After 15 years of non-stop global travel, I decided to return to teaching and Villanova was the logical choice. I knew two outstanding VSB professors, Sue Metzger

and Bill Wagner. In my mind, if they both taught at Villanova, it had to be a truly amazing place—and it is!

In addition to teaching, I have been working on three start-ups this year. Two are technology related, where I’m collaborating with an outstanding student of mine, Brendan Kenny ’21 VSB. My third start-up is a consumer product called “Eat Like A Woman.” Combining teaching and entrepreneurship is very rewarding. I can share my experiences with these start-ups not only in the classroom but also one-on-one with students who are interested in starting their own businesses. My experience at Villanova has more than exceeded my expectations and I look forward to continuing teaching and guiding students in multiple ways.

FACULTY TRANSITIONS

Jeffrey Pelesh Retires from Accounting Faculty After an impressive 29 years on the Accounting faculty, Jeffrey Pelesh ’80 VSB, ’87 MBA decided to step away from teaching to focus more on his practice, other business interests

Erica Harris Returns to Her Roots

and his love of music.

Associate Professor Erica Harris, PhD, recently left VSB to take a faculty position at Florida International University. Dr. Harris is originally from the state of Florida and this move brings her family closer to her extended family.

Before Pelesh taught accounting, he was a practitioner.

He began his career with Ernst & Whinney followed by Coopers & Lybrand before starting his own practice in 1990. In 2002, he purchased Gelman & Gelman, serving as managing partner.

During her time at VSB, Dr. Harris added tremendous value to the department, particularly in the area of not-for-profit organizations. Her research has been published in top academic journals and disseminated via several presentations and interviews on these topics.

Pelesh joined the VSB faculty in 1990 to teach Tax Accounting and went on to teach Principles of Financial Accounting, Principles of Managerial Accounting, Intermediate Accounting, Auditing and Advanced Accounting. Most recently, he taught Advanced Topics in Individual Taxation in the Master of Taxation program.

James Bierstaker Promoted to Full Professor James Bierstaker, PhD, was promoted to full professor of accounting effective August 2019.

Dr. Bierstaker received his PhD from the University of Connecticut and BS from Fordham University, both in accounting. He currently teaches Advanced Topics in Auditing in VSB’s Master of Accounting with Data and Analytics program. In this class, Dr. Bierstaker has been a pioneer in the field by integrating data, analytics and

technology with auditing concepts. He is very active in VSB’s academic associations and enjoys an outstanding reputation for his service and research accomplishments.

Currently, Dr. Bierstaker is an associate editor at Managerial Auditing Journal and previously served as an associate editor for Issues in Accounting Education and Behavioral Research in Accounting. He is also on the editorial board of Current Issues in Auditing and Behavioral Research in Auditing. His primary research interests include behavioral auditing research, audit technology research and instructional research on the nexus of systems and accounting. Dr. Bierstaker has over 50 publications in accounting and systems journals.

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Laura Iacona ’96 VSB Named New Accounting Business Fellow When I was a student at Villanova, I knew I would someday find my way back here. As a freshman, I decided that I wanted to major in Accounting and work at a public accounting firm. During my junior year, under the direction of Dr. Emig, I participated in the Spring Accounting Internship interview process and ultimately accepted an internship with Grant Thornton LLP. I was attracted to the firm because of its “best of both worlds” feel: the opportunity to experience a variety of industries and transactions typical within the largest firms while providing me a culture more typical of a smaller firm.

During my almost 19 years with Grant Thornton, I worked with a range of clients from start-up entities to well-established, multi-billion dollar corporations. In 2007, I became a partner at the age of 33 and took over as the audit practice leader in the Philadelphia office (one of the top five largest audit

FACULTY ACHIEVEMENTS

Departmental Research Awards Each year, the Villanova School of Business presents Summer Research Awards to those faculty who demonstrate excellence in research.

This year, Summer Research Awards were granted to James Bierstaker, PhD (highest award); Lucy Chen, PhD (highest award); Janice Sipior, PhD; Denise Downey, PhD; Danielle Lombardi, PhD; Michael Peters, PhD; Q Chung, PhD; and Wenhong Luo, PhD. Faculty are granted these awards on the basis of the number of publications in high-quality journal outlets. By publishing in these journals, these faculty provide a better understanding of the profession and enhance the University’s reputation in the broader academic community.

The awards for 2019 affirm the high-quality research accomplishments of our faculty.

practices for the firm) in 2011. I was heavily involved in the firm’s national, regional and local training courses and found that teaching was a real passion.

One of my responsibilities at Grant Thornton was recruiting and naturally, I gravitated to Villanova. The more time I spent on campus, the more I realized it was time to find my way back. I learned the Villanova system by observing Patty Dorris-Crenny’s classes and later began as an adjunct professor. So far, I have taught for six semesters at Villanova and enjoyed every minute of it! Connecting with students, passing my career experiences to them, watching them grow in their accounting knowledge, and going off to fulfill the same career goals that I once had is extremely rewarding.

This year, I was honored to become a business fellow with the University. I look forward to continuing to teach while also supporting students beyond the classroom. After 20 years and a rewarding career in public accounting, I found my way back to Villanova and I’m not looking back!

Jennifer Altamuro Named Faculty Director for MAC Programs Jennifer L.M. Altamuro, PhD, associate professor, Accounting & Information Systems is the new faculty director of our Master of Accounting with Data Analytics programs, including both the KPMG and Villanova programs. Developed with feedback from industry professionals, these programs provide students an education that prepares them for changes in the field, particularly in the areas of data, analytics and technology.

Prior to joining the department in 2015, Dr. Altamuro held faculty positions at Ohio State University, University of Pennsylvania and Massachusetts Institute of Technology. She earned her PhD at Pennsylvania State University and an undergraduate accounting degree from Saint Joseph’s University. Her industry experience includes five years with PwC in the audit and business assurance practice. Today she teaches undergraduate and graduate students and her primary research interest focuses on financial accounting. She has published in many top accounting journals.

Patricia Dorris-Crenny Promoted to Associate Professor Patricia Dorris-Crenny VSB ’82 was promoted to associate professor of practice effective August 2019.

Dorris-Crenny began teaching at Villanova as an adjunct in 2004 and joined full-time in 2010. She primarily teaches financial accounting and both intermediate accounting classes and students often take multiple classes with her. In 2015, she was the sole recipient of the Dougherty Endowed Faculty Award for Undergraduate Teaching in VSB. Dorris-Crenny is one of two primary student advisors of Accounting majors and is involved in many professional development activities for students. She brings deep professional experience, mostly in taxation at professional and corporate firms, and this fall she returns to those roots to teach a tax class for the first time in several years. Outside of VSB, Dorris-Crenny gives her time generously to many organizations in need of her services.

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Sue Metzger Promoted to Professor of Practice

Inspiration and Energy: VU Women in Tech Hosts Fourth Annual Conference The fourth annual VU Women in Tech Conference took place on Saturday, January 26, 2019. More than 250 people convened in the newly renovated The Inn at Villanova for a day that exuded energy.

Anchoring the day’s agenda was a spirited keynote address from Eloise N. Young, senior vice president of Strategic Planning at Philadelphia Gas Works (pictured above).

Thanks to efforts spearheaded by VSB and supported by the other colleges at Villanova, and to corporate sponsors like PwC, Deloitte, EY, Vanguard and Vertex, VU Women in Tech encourages and inspires women to embrace technology in their careers.

Sue McFarland Metzger has been promoted to professor of practice effective August 2019.

Metzger began teaching in the department in 2009 and today she is widely regarded for the depth and creativity of her teaching. She’s taught across three colleges—Business, Liberal Arts and Sciences, and Engineering—and often in collaboration with professors from each of these three colleges.

She serves as one of our primary student advisors for the MIS majors and oversees the internship program. Students routinely praise her both as a teacher and mentor. She is also the director of Women in Tech, which has a goal to highlight and promote opportunities for women to innovate in technology (see left sidebar).

Prior to Villanova, Metzger was a director of Global Support for SAP America where she managed teams and processes that provided large scale, global support to critical customer situations. She received an MS in Engineering from the University of Pennsylvania and an undergraduate degree from Bucknell University.

Metzger has received numerous awards for her accomplishments, including the Thomas J. Carmody Jr. Award (2019) in recognition of her efforts to promote the integration of teaching, theory and practice; the Wildcat Crossing Award (2017); faculty recipient of the Meyer Innovation and Creative Excellence Award (2016); and the Gerald A. Dougherty Endowed Faculty Award for Undergraduate Teaching (2014).

Domenic Finelli Receives William O’Neill Teaching Award

Domenic Finelli received the 2019 The William J. O’Neill Award for Undergraduate/Graduate Teaching Excellence as the most outstanding adjunct teacher at VSB. Finelli began his career with Coopers & Lybrand’s Philadelphia office, where he focused on the transportation sector and later served as the firm’s National Transportation Industry Leader. He remained with PwC after the 1998 merger, serving as a national reviewer of SEC filings, and as an audit consulting partner helping various audit teams deal with tough accounting and auditing issues. Upon retiring from PwC in 2008 after 39 years (28 years as a partner), Finelli was hired by his alma mater to start their first internal audit department and serve on the faculty in accounting at St. Joseph’s University. In 2011, he tried to retire again but returned to teaching, this time at VSB as an adjunct faculty in accounting.

Mark your calendar for our next celebration scheduled for Saturday, February 1, 2020.

Finelli says teaching at the best business school in the country is a real privilege. He’s often heard saying, “The absolute best part of Villanova is our students—our clients.” He feels the Villanova accounting students he encounters are highly motivated to succeed and challenge him every day.

Former CIO Joins Information Systems Faculty A&IS welcomed Bob Arakelian ’74 CLAS (College of Liberal Arts and Sciences), an award-winning professor with extensive leadership experience in information technology (IT), to our faculty this year.

A retired chief information officer (CIO), Arakelian brings a wealth of IT and systems experience from three separate organizations and industries.

Arakelian spent the majority of his career as vice president of Information Technology at Godiva Chocolatier. In addition, he led IT at Kahn Lucas Lancaster, Inc. and Home HealthCare Management.

He was responsible for how technology can be deployed to add value to the firm, among other responsibilities such as strategy, tactical planning, innovation, project management and security.

Previously, Arakelian taught multiple graduate-level courses at Penn State Great Valley in Malvern, Pa. including Business Intelligence, Data Analytics, Enterprise Architecture and Network Security, in addition to previously teaching at Villanova on a part-time basis. While at Penn State, he developed and taught a workshop called “So You Want to Be a CIO” and twice received the Teaching Excellence Award for part-time professors.

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STUDENT HIGHLIGHTS

Quick Questions with

ShirBriya Fletcher ’19 MAC The recent graduates of the Master of Accounting with Data Analytics (MACDA) program are a bright, talented group of people who enjoyed working together and began their professional careers with the same enthusiasm. We asked one of our talented MACDA Fellows, ShirBriya Fletcher, to share a few thoughts about her experience in the program. Fletcher excelled in the classroom and engaged in research with Accounting faculty through the Master of Accounting Fellows Program. She also participated in several recruiting and professional development efforts. ShirBriya will be a tax associate with KPMG in DC beginning this Fall.

Tell us a little about yourself.

How did technology factor into the program?

I was born and raised in the Bronx, New York. I graduated from Howard University as the valedictorian of my class with a bachelor's degree in Accounting in 2018. I graduated from the Villanova Master of Accounting with Data Analytics program in 2019.

Technology such as Alteryx, Qlik, IDEA, SQL, Capsim and SAP was woven throughout the program and as a result, I feel well prepared for the next step in my career.

What did you like most about the program?

I really enjoyed the flexible schedule but what I appreciated most was the small cohort with driven peers and the teamwork tailored toward job experiences. We enjoyed spending time together with a variety of social events such as happy hours, basketball games and others.

What was your experience like with the faculty?

I found the faculty to be accessible and very invested in students. I was fortunate that the fellowship program gave me more opportunities to interact with faculty.

Any other aspects of Villanova that were positive experiences?

Yes, the feedback sessions were an excellent way to make your suggestions to faculty and staff.

MIS Student Spotlight:

MAC Student Spotlight:

Maeve Kavanagh ’19 VSB

Matthew Ade ’18 VSB, ’19 MAC

In many ways, Maeve Kavanagh found the right mix of her interests within the A&IS Department and Villanova overall. A native of Sunnyvale, Calif., Kavanagh grew up surrounded by Silicon Valley, which sparked her interest in technology. She chose to major in Management Information Systems and International Business to blend her interests in business and technology with her love of travel and it’s worked to her advantage. As a sophomore, she participated in VSB’s Business and Culture in the Italian Context program in Urbino, Italy. Then last summer, Kavanagh interned at Navigant Consulting in Chicago, where she used Python and SQL to manipulate and clean data and applied what she learned in classes like Business Analytics to present findings using Tableau.

Beyond her studies, Kavanagh was able to pursue a number of her other interests at Villanova, including nature, sustainability and serving in leadership positions in the Outdoors Club and the Student Sustainability Committee, as well as spending three school breaks at environmental-related service sites.

This fall, Kavanagh will be joining Accenture as a technology analyst in their Washington, DC office.

When Matthew Ade came to VSB from Delran, N.J., he didn’t expect to leave with two degrees, but he did just that. After completing his undergraduate degree with a double major in Accounting and Marketing, he completed the Master of Accounting with Data and Analytics program one year later. Now he feels well prepared to begin his career in the audit practice of Deloitte in the Philadelphia office.

We asked Ade what made the MACDA program special in terms of his professional development. “The MAC program gave me exposure to the various stakeholders’ viewpoints as it relates to a company’s financial performance. With a better understanding of the different perspectives, I have a greater sense for the impact of my work on an organization’s strategic and operational decisions.”

“In addition, the program focused heavily on analytics and the software packages that professionals use in their analysis of big data. Combining these two areas can help anyone become a better businessperson, whether you’re pursuing a career in audit, tax or another field,” Ade shared.

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Where Can Accounting Take You? For these twins, a shared interest in accounting can mean very different paths

by Emily ’19 VSB and Sarah Zazzu ’19 VSB We can trace our first experiences with business back to our freshman year of high school.

We were lucky enough to attend a large public school that offered multiple business classes, such as Investment Management, Micro and Macroeconomics, and Accounting. Taking these courses laid the groundwork for our interest in business; when it came time for college, it was no surprise we both wanted to attend Villanova’s highly esteemed business school.

As we moved through the core business curriculum classes at VSB, we were not yet sure which area of business we’d pursue.

During fall semester of our sophomore year, we both felt drawn to Accounting after taking Dr. Peters’ Financial Accounting class together. Most people say that you either get accounting or you don’t, and we quickly realized that we get it. Declaring Accounting as a primary major was an easy choice for both of us. Before long though, our paths began to split.

Emily’s story

Sarah’s story

My passion for math led me to declare a co-major in Analytics but I was unsure what career path I’d pursue.

I attended leadership programs for the Big 4 accounting firms, along with Comcast’s Corporate Finance Leadership Summit. In the end, I chose to intern with Comcast during the summer after my junior year because I liked how corporate finance allowed me to combine accounting, analytics and math. Plus, the learning opportunities seem endless at Comcast. In July 2019, I started the CORE Finance Rotational Program with Comcast where I’ll spend 2.5 years exploring three different business functions within the company.

Unlike Emily, I declared a second major in Finance along with an MIS minor. Before truly knowing what accounting was, I had the opportunity to intern for Deloitte during the summer after my freshman year and the next two summers that followed. As I took more Finance major classes, my interest shifted from valuations to mergers and acquisitions.

I shared my interests with Deloitte, which led to a full-time position as a consultant in the Risk and Financial Advisory Department working on M&A due diligence. This position allows me to use my accounting and finance knowledge to turn accounting data in actionable intelligence for clients.

It’s hard to know where accounting will take us from here, but thanks to VSB, we feel ready for the business world and whatever challenges may come our way.

BARTLEY MEDALLION RECIPIENTS The Bartley Medallion recognizes students based on overall achievement including but not limited to academic standing, as evaluated by the faculty in each department.

ACCOUNTING

MIS

Courtney Murphy ’19 VSB

Sterling Williams ’19 VSB

Accounting did not always come easy to Courtney Murphy. In fact, she admits it took a while for financial accounting to “click” for her but perseverance and dedication made the difference.

“At Villanova, I recognized that I am not the fastest learner in the classroom so I had to spend a lot of time learning the material,” she explained. “Fortunately, I had phenomenal accounting professors at Villanova who were willing to help me learn and prepare for the real world. It is amazing to hear about the professors’ work experiences and how they translate directly to what we are learning and will experience during our careers, which I found so worthwhile.”

Sterling Williams made the most of his time as an MIS major at VSB. Academically, he participated in two key MIS projects, including an Emerging Business Technologies project in Dr. Stephen Andriole, PhD's class in 2018 where he presented his findings to Dean Joyce E. A. Russell, PhD, the Helen and William O’Toole Dean of VSB. That same semester, he also assumed the role of project manager on a Salesforce integration team in Professor Tim Ay’s class.

Murphy attributes her success at Villanova to not only the education but also the professional development and recruiting opportunities with top-notch firms. She is starting her career with PwC in New York in their Real Estate Tax division. “I believe Villanova and PwC hold many of the same values because both deliver high quality experiences for students and employees, respectively.”

Outside the classroom, Williams served as the MIS Society president for a year and a half and led a number of initiatives to increase students’ exposure to MIS by arranging CEO guest speakers, coding workshops and company presentations.

Williams also presided over the Wall Street Society and served as an Honors peer advisor. In his spare time, he enjoys video games, pickup basketball and watching sports. Following graduation, Williams will start his career with Deloitte Consulting as a Business Technology analyst.

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STUDENT ACHIEVEMENTS AND SCHOLARSHIPS Elijah Watt Sells Award

David Newell ’18 MAC David Newell, a graduate of the Master of Accounting and Data Analytics program with KPMG, received the 2018 Elijah Watt Sells Award given for outstanding performance on the Uniform CPA Examination. The American Institute of CPAs (AICPA) awards those who obtain a cumulative average score above 95.50 across all four sections of the CPA exam, pass all four sections on their first attempt, and have completed testing in the year of the award. Newell was one of the 110 winners of the prestigious award. A native of St. Louis, Mo., Newell earned his undergraduate degree from Truman State University. He currently works at KPMG. “What I found helpful is that Villanova taught data analytics skills that are valuable both today and in the future. The classes taught us how to create models in Excel and use IDEA, which is useful with auditing today, but also taught us data mining, which will be valuable as the field advances,” Newell shared.

PICPA Award

Shanika Cooper ’19 VSB The 2019 Pennsylvania Institute of Certified Public Accountants (PICPA) selected Shanika Cooper for the 2019 Outstanding Senior Award, an honor given to one graduating student at each Pennsylvania college or university who shines in academia and expresses a serious interest in accounting. While at Villanova, Cooper also earned the 2019 Neville Distinguished Student Award, was a Saint Martin de Porres Scholar and was a member of the Edward Collymore Honors Society. Cooper served as president of the Multicultural Business Association, chair of Black History Month activities for the Black Cultural Society, and vice president of Delta Sigma Theta sorority. She also is an active member of the National Association of Black Accountants. Cooper has entertained Villanova audiences many times as a member of both the Ablaze Contemporary Dance Team and the Wazobia African Dance Company. Following graduation, Cooper will begin her career with EY in Philadelphia.

FSA Outstanding Student Award

Sarah Vesey ’18 VSB, ’19 MAC Sarah Vesey was the 2019 recipient of the Federation of Schools of Accountancy (FSA) Award, which is given to a graduate student who demonstrates superior academic performance. From Basking Ridge, N.J., Vesey earned two degrees—a Bachelor of Accounting and Master of Accounting (MAC)— in only four years at Villanova. “Sarah was a student who greeted every challenge she faced with determination and a positive outlook. She is an excellent role model for future VSB undergraduate and graduate students alike,” says Dr. Jennifer Altamuro, faculty director of the Master of Accounting programs. Vesey will begin her professional career this fall in the Assurance Practice with Deloitte in New York.

Philadelphia Society for Information Management (PHISIM) Award

Becca Gleeson ’20 VSB Becca Gleeson from Plymouth Meeting, Pa., was awarded the 2019 PHISIM Award by the Philadelphia Philanthropic Society for Information Management Foundation Inc. This scholarship is given to a rising junior from each school in the Philadelphia area for their dedication and leadership in the field of technology and comes with an invitation to the Philadelphia Technology Leadership Summit.

Becca is pursuing majors in Management Information Systems, Marketing, Business Analytics, and Honors. Becca is president of Alpha Phi Omega, the service fraternity on campus, and president elect of the Management Information Systems Society. This past spring break, Becca co-led a Service and Justice Experience to the Romero Center in Camden, NJ. Last summer, Becca worked for SAP America in their North American headquarters in Newtown Square in the Value Assurance Delivery department. Becca will be working as a summer scholar in the Technology Competency group for Deloitte Consulting this summer in Philadelphia and hopes to pursue a career in technology.

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Tenth Annual Global Accounting Firms Case Competition

STUDENT SCHOLARSHIPS

For the 10th straight year, VSB held the Global Accounting Firm Case Competition, led by Grant Thornton under the direction of partner Dennis Morrone ’98 VSB along with other firm participants including Deloitte, EY, KPMG and PwC. Each team prepared a case analysis that integrated accounting and information systems concepts and was guided by professionals from the above firms.

This year’s competition included 14 teams, with top honors going to 5 Guys Billing & Files: Matthew Farias ’21 VSB, Rohan Parikh ’21 VSB, Luke Brinkmann ’21 VSB, Mick Maspons ’21 VSB and Nick Buoncore ’21 VSB. The 11th annual competition is currently underway.

Amanda Banek ’20 VSB: PCAOB (Public Company Accounting Oversight Board) Scholarship of $10,000

Marina Santiago ’19 VSB: The Philadelphia Chapter of the Tax Executives Institute (TEI) Scholarship of $2,000

Courtney Murphy ’19 VSB: The Philadelphia Chapter of the Tax Executives Institute (TEI) Scholarship of $2,000

Michelle Milone ’19 VSB and Diana Almeida ’19 VSB: The BASF Academic Excellence Scholarship of $2,500

Michael Bantner ’19 VSB: The ACFE (Association of Certified Fraud Examiners) Scholarship of $4,000

VSB Students Win Big at Case Competition Villanova once again shined at the Deloitte SAP Co-Innovation Competition, bringing home second place and offers for internship/ employment for all four Villanova students. Congratulations to Becca Gleeson ’20 VSB, Bradford Blaylock ’19 VSB, Vy Nguyen ’20 VSB and Al Tebbetts ’19 COE. The team was coached by Deloitte consultant Jeanette Ding ’16 VSB.

Susannah Hochuli ’19 VSB: PICPA 2018 Academic Merit Scholarship of $2,000

Natasha Iloff ’20 VSB: PICPA Minority Scholarship of $2,000

CURRICULUM INNOVATIONS

Students Gain Experience with Emerging Technologies

VSB Offers New Class on Blockchain as MBA Elective

As more and more businesses look to apply technology to their strategic advantage, employers need talented individuals who not only understand technology but also how to apply it effectively to improve business models and processes. Emerging Business Technologies, a new course offering from the MIS faculty, explores some of the latest digital technologies including virtual reality, artificial intelligence, machine learning, the internet of things, wearables, cryptocurrency, blockchain and social business intelligence. The course even includes hands-on demonstrations of augmented reality and location-based services. In the end, the students start to appreciate how technology supports all the vertical industries and all of the major business functions, including sales, marketing, accounting, production, supply chain management, customer service, innovation and more.

Not many technologies introduced over the past several years have garnered the interest of the financial world as much as blockchain. With the advent of cryptocurrencies and smart contracts, blockchain has created a buzz among the financial and technology industries that has forced all major and even minor players to respond and embrace the technology.

VSB now offers Blockchain for Business as an elective offering in the MBA program.

Blockchain for Business is being taught by John George ’04 MBA, who has spent his entire career in technology.

Blockchain for Business is a great opportunity for VSB students to bring innovative ideas to the classroom,” stated George. “In seven weeks, we cover all the practical details of blockchain and challenge the students to think outside of the box.”

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MIS Is STEM-Approved The MIS major is officially STEM-approved, according to the U.S. Department of Education’s Classification of Instructional Programs taxonomy system. This new classification elevates the status of an already valuable MIS degree and will help add more students with STEM skills to the workforce.

PROFESSIONAL OUTREACH

KPMG Master of Accounting Expands into Tax

In summer 2019, Villanova will graduate its second cohort in the KPMG Master of Accounting with Data and Analytics Program. The program was designed to prepare students for the disruptions taking place in the industry by introducing the use of data and analytics in the audit and accounting environment. The program develops these skills in both theory and application and integrates them with graduate-level accounting competencies.

Students take classes in the fall and First cohort of KPMG students and Dean Russell (right) summer semesters and participate in a 16-week internship with KPMG during the spring semester with the goal of delivering these skills to the audit. In addition to learning a new skill set, our students developed a special camaraderie that will create a strong community within KPMG. Building on the success of the existing program, VSB and KPMG are expanding the curriculum to apply to a career path in tax. Students will learn to work with data and convert it into information that can be used in tax planning decisions.

They will also get exposure to the new technologies that are being used in the changing landscape of taxation. The program will begin in fall of 2020 and the plan is to allow non-KPMG students to participate in this program. More details will be forthcoming in future newsletters.

EY’s Bob Mulhall Retires and New Leadership Team Welcomed After 13 years as the partner-in-charge of the Villanova relationship at EY, Bob Mulhall ’80 VSB retired from the firm in 2018. Mulhall has been a great friend and supporter of Villanova over the years. His tenure included so many examples of great leadership, including creativity with student activities, financial support of VSB and our students, and countless hours sharing his wisdom and measured feedback with the department. Mulhall served on the Accounting Advisory Council for many years and then graduated to the Dean’s Advisory Council, where he continues to serve. We thank him for his commitment to the VSB/EY relationship and look forward to building on this foundation.

We also welcome the new EY leadership team of Ryan Oswald ’98 VSB and Licete Snediker ’97 VSB. Both partners kicked off their new roles with a dinner meeting to introduce their vision for the Villanova relationship.

While Mulhall left big shoes to fill, Oswald and Snediker will serve the role with distinction and we are excited for this relationship moving forward.

Crowe LLP Conference an Amazing Experience Recently Bob West, PhD, CPA, assistant professor, Accounting & Information Systems attended the Crowe LLP Conference, and was hosted by partner Tim Boehmer ’95 VSB. Dr. West reports, “The conference was fantastic. It was a perfect forum to engage students, faculty and professionals with the emerging issues in the field. It was a great mix of work and play and I was very impressed with the student interaction and learning that took place. Students were excited to be there and proud to be with the firm.”

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Kudos for Diversity Bob Moritz (center bottom row) and PwC professionals with VSB students.

PwC Global Chairman Visits Villanova Villanova University was honored to host Bob Moritz, PwC global chairman, at our campus last spring. The visit showed the dedication that PwC and Moritz have to our students. During the visit, Moritz had candid conversations with PwC-Villanova hires and prospective hires. He began by discussing the firm and its future direction and how the hot button issues of today will impact specific fields such as audit and tax, among others. He stressed the importance of diversity and inclusion, teamwork, leadership, and digital technology for future professionals. Moritz took questions from students across any topic of their choosing, including diversity and inclusion, the relevance of audit in today’s increasingly automated world, and the importance of flexibility in making time for personal priorities. In addition, Moritz and VSB Dean Joyce Russell spoke to more than 200 VSB students across majors about skills needed for future leaders, including global and business acumen and developing relationship skills, among others. “We appreciate how Moritz takes time to understand our challenges and finds ways we can partner to implement solutions,” said Dean Russell.

Deloitte and Reese Blair Host Diversity Day at VSB On April 23, 2019, Deloitte hosted its fourth annual “Diversity Day” at VSB. Reese Blair, partner at Deloitte, once again guided three sessions during which students were encouraged to challenge their Reese Blair, Shanika Cooper ‘19 VSB (President of beliefs about themselves and to Multicultural Business Association), and Associate Professor develop new relationships with Steve Liedtka, Director of Diversity for Accounting confidence. It was a busy day as students were eager to meet, learn and receive guidance from Blair.

Blair recently served as president of the Philadelphia Chapter of the National Association of Black Accountants (NABA), and with the help of the Philadelphia Chapter, we are pleased to have NABA back on the Villanova campus as of spring 2019 with 27 active members.

Blair also recently accepted the honor of serving as a board member of the CPA Foundation of the Pennsylvania Institute of Certified Public Accountants.

The Pennsylvania CPA Foundation’s mission is to inspire students to pursue careers in accounting and to provide educational, motivational and financial support to those working to attain the CPA credential. We want to thank Blair for all his time and effort in helping us mentor and guide our students while here at Villanova and show how they can better transition to the professional world.

VSB thanks the PwC recruiting team and Ricardo Ruiz ’06 VSB, PwC Campus Diversity Champion, for his help over the years.

His guidance has allowed us to be featured nationally inside the firm as being a top diversity source for PwC.

Grant Thornton On March 27, 2019, VSB welcomed Grant Thornton Managing Director of Audit Innovation Rich Lanza and Manager of Audit Innovation Matt Van Buren ’11 VSB, who hosted a “Lunch and Learn” on data analytics and audit innovation.

Over 75 undergraduate and graduate students attended to learn about changes in practice and tools currently employed in the field. The conversation focused on the progression of analytics in accounting and students gained a deeper appreciation for how to apply data to improve risk assessments, detect fraud and identify anomalies in the financial statements. Lanza and Van Buren also demonstrated current analytic tools and applications used for visualization and robotic-powered automation. Students and faculty alike appreciated the opportunity to see how audit teams currently use financial and non-financial data relative to the curriculum in the undergraduate accounting and MACDA programs.

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A&IS Advisory Council Members The advisory board membership listed below includes the 2018-19 members.

Those names with double asterisks are new members appointed since the last newsletter. We thank all the new members for their time and commitment to serving on the board.

Effective May 2019, Al Deana is retiring from Baker Tilly. Al has been on our board for many years and has been one of our biggest supporters and most loyal members. He has helped the department in countless ways over so many years. We want to thank Al for all his support and, most importantly, for being a great friend. Good luck!

We would also like to thank Saverio Fato from PwC, who also served on the board for many years. Always a supporter of Villanova and our department and beloved by so many, we thank you for all your hard work and support on the board and in other capacities over the years. We look forward to continuing our great relationship in other ways.

Make a Difference in A&IS To make an investment in the department, please make checks payable to Villanova University – Department of Accounting & IS. See the final page in the newsletter for mailing information.

If you prefer to make a contribution online or by phone, please contact Brendan Glackin, director of Major Giving, Villanova School of Business at brendan.glackin@villanova.edu or 610-519-7602. Thank you for your support!

Finally, we would like to thank Wayne Kaplan, who is retiring from Grant Thornton.

Wayne has been on the board for many years and has been a great supporter of our faculty and students. His friendship and good humor will be sorely missed.

Thank you Wayne; we are not saying goodbye but hello to a new chapter in our relationship.

Timothy Boehmer ’95 VSB Partner Crowe

Frank J. Frabizzio ’91 VSB Market Assurance Leader, Philadelphia Metro PwC

Timothy Boyle Vice President, Tax SunGard SCT, Inc. Ann Cavanaugh ’92 VSB** Managing Director, Global Head of Accounting Policy BlackRock, Inc. Brendan Cox ’92 VSB Partner and Revenue Recognition Leader for Tax EY Joseph Croasdale ’85 VSB Global Controller Liquidnet Albert Deana ’84 VSB* Partner Baker Tilly Stephen Delaney ’91 VSB Audit Leader, Greater Philadelphia Office Deloitte Dante D’Egidio ’94 VSB Partner, Assurance Leader EY Saverio Fato ’88 VSB* Assurance Partner PwC

Nick Francani ’00 VSB Managing Director The Siegfried Group LLP Richard Furtek ’91 VSB Principal Furtek & Associates Robert Hagemann ’03 PA Retired, Senior Vice President and CFO Quest Diagnostics Incorporated Wayne Kaplan* Partner and Leader, Atlantic Coast Consumer and Industry Products Group Grant Thornton

Daniel Luckshire ’92 VSB** Executive VP and CFO SIGA Technologies James P. McCue ’86 VSB** VP and Assistant Treasurer Comcast Corporation Daniel J. Meagher ’00 VSB** Audit Partner KPMG Stephen McNamara ’88 VSB Vice President and Controller Armstrong World Industries, Inc. Michael Murphy Vice President, Audit and Controls Aramark Kristina Parker ’94 VSB Audit Partner KPMG

Scott King ’92 VSB Partner, Audit and Enterprise Risk Services Deloitte

Michael Pramberger ’03 VSB** Audit Partner Grant Thornton

Robert Klemm ’90 VSB** Partner PwC

Steve Repko ’95 VSB** Audit Partner Baker Tilly

John Mahoney ’83 VSB Vice President, Accounting and Reporting BASF Corporation

Mark Sieb ’89 VSB** Senior VP and Treasurer Assurant

Erin Laber ’02 VSB** Partner PwC

Donald Soriero ’69 VSB** Tax Consultant Celgene Corporation 13

* Departing members

** New members since last newsletter

Department of Accounting & Information Systems 800 Lancaster Avenue Villanova, PA 19085-1678