UConn Today – Gabriel Bachinelo ’16 (BUS) and his two sisters are the first generation in their family to attend college.
This video profile continues a week-long series about Huskies who are unleashing their potential at UConn: #WhyWeAreHuskies.
Accounting
Travelers EDGE Scholar Service Learning Experience
Accounting major, Jhavier Leslie ’18 who is a freshman in the Travelers EDGE Scholars program spent his first spring break learning about himself and the migrant worker community in Immokalee, Florida. This opportunity is offered to UConn students through the Community Outreach Office. Jhavier shares what he learned about the migrant worker, their plight and hardships as well as what he learned about himself.Continue Reading
Eight Outstanding School of Business Professors Earn 2015 Faculty Awards
A professor who used chocolate chip cookies to teach about quality control, three researchers who had work published in top journals, and an educator who vigorously promoted the School of Business were among the 2015 Faculty Award recipients.
“This year we honored eight outstanding faculty members for their exceptional research, teaching and leadership achievements,” said Associate Dean Sulin Ba. “The selection process was particularly difficult due to the dozens of impressive nominees. We are fortunate to have such talented, creative and remarkable colleagues.”Continue Reading
Student Group Visits Federal Reserve Bank of Boston and PwC
The Honors in Business Association (HiBA) hosted a trip to visit the Federal Reserve Bank of Boston and PwC. Approximately 30 students attended and were split into two groups, with one group visiting PwC and the other group visiting the Federal Reserve Bank of Boston.
Students visiting PwC were hosted by Ann Ulett, northeast sourcing manager. Students learned about the day-to-day responsibilities of an accountant from a panel that included a recent UConn graduate followed by a team building activity. PwC also spoke about the future of the company in the city of Boston.
At the Federal Reserve Bank, students were hosted by Don Anderson ’99, vice president of network services. Anderson along with other officers of the Federal Reserve Bank gave an overview of the Bank’s corporate structure. Students also attended a presentation on the topics of economic growth and the Bank’s balance sheet by the associate vice President of accounting. The visit at the Federal Reserve Bank ended with a cash tour given by the vice president of cash services.
Brooke Wasserman ’15, an accounting major who visited the Federal Reserve Bank mentioned, “I found the overview of the balance sheet to be very interesting. The Federal Reserve Bank considers cash to be a liability on their balance sheet.” In Generally Accepted Accounting Principles (GAAP), cash is considered an asset and not a liability.
Quian Callender ’16, president of the Honors in Business Association, states, “Site visits are extremely beneficial to students because they provide experiences that can’t be learned in a traditional classroom setting.”
About Honors in Business Association
Honors in Business Association (HiBA) is a student organization formed between the Honors Program and School of Business. HiBA strives to create a sense of community for students in both Honors and the School of Business and those with an interest in business. HiBA’s programming provides the opportunity for students to demonstrate and develop skills necessary to succeed in today’s business world all while building a strong alumni network. Contact information: uconnhiba@gmail.com or Quian Callender at quian.callender@uconn.edu.
Does SOX 404 Have Teeth?
A regulation that is supposed to provide a warning bell and greater transparency for investors is hampered by a lack of enforcement, according to new research conducted by accounting professor David Weber.
Professor David WeberThe School of Business has awarded one of its 2015 Best Paper Awards to Weber for his research titled, “Does SOX 404 Have Teeth? Consequences of the Failure to Report Existing Internal Control Weaknesses,” co-authored with UConn doctoral student Biyu Wu and Sarah Rice of Texas A&M. It will appear in the American Accounting Association’s premier journal, The Accounting Review.
Accounting, Finance Faculty Members Recognized for Outstanding Research
The School of Business has awarded its 2015 Best Paper Award to professors David Weber, from accounting, and Jose Martinez, of finance, for their exceptional research articles that will appear in esteemed academic journals.
Weber’s research paper is titled, “Does SOX 404 Have Teeth? Consequences of the Failure to Report Existing Internal Control Weaknesses.”
“Picking Winners? Investment Consultants’ Recommendations of Fund Managers,” is the title of Martinez’s work. His paper also recently received a prize from the University of Cambridge and the Commonfund Institute.
“Both papers are to appear in very prestigious journals in their respective fields, The Accounting Review and Journal of Finance,” said Sulin Ba, associate dean of academic and research support. “The selection committee was particularly impressed by the public policy implications that came out of both research projects. These implications will have an impact on our society in the years to come.”
The competition was intense this year with 10 nominations, all papers accepted in top academic journals, Ba said.
“Dr. Weber’s paper, co-authored with Ph.D. student Biyu Wu, addresses the requirement that corporations and their auditors publicly disclose internal control weaknesses, which is one of the most contentious and costly provisions of the Sarbanes-Oxley Act,” said Mohamed Hussein, accounting department head. “The study is important because it shows that the enforcement mechanisms surrounding internal control reporting are often ineffective and in some cases may even provide disincentives for compliance.”
“This paper is one of many research projects conducted by the UConn accounting faculty that addressed critical accounting and tax issues,” said Hussein, noting that UConn accounting faculty research has been cited in Congressional hearings and in the British Parliament.
Chinmoy Ghosh, department head in finance, said he is pleased with his colleague’s success.
“Within a very short period of time since arriving at UConn in August 2014, Jose has made a significant contribution in almost every aspect of the job. Acceptance of his paper by the Journal of Finance, the top journal in the discipline, brings tremendous visibility and prestige to the department and the school,” he said. “Very recently, his research has been recognized by a leading academic group in Europe. His style of teaching and knowledge drew great praise from the Risk Management students at both our Hartford and Stamford campuses.
“Jose has also shown great interest and objectivity in various academic issues currently under review by the department faculty. We are very pleased to have him as a colleague and look forward to many more productive years from him at the School of Business.”
The Best Paper Award is funded by the generous support of the Arnold M. Robin & Rochelle M. Robin Excellence Fund.
Related articles:
Professor Jose Martinez Earns Triple Recognition for Work on Dubious Investment Management
Professor David Weber Finds Lack of Enforcement Surrounds Key Provision of Sarbanes-Oxley Act
School of Business Retirees Gather for Business, Friendship
Addressing a gathering of retired- and almost-retired UConn faculty, School of Business Dean John A. Elliott urged them to use their expertise to help mentor junior staff and graduate students.
Dean Elliott thanked those congregated for their years of service to the School of Business, their willingness to act in an advisory capacity to him and to newer faculty, and recognized them as a vital connection to some of the School’s most illustrious alumni.
Rob Hoskin, Harry Johnson, Keith Johnson, Lin Klein, Jeffrey Kramer, Richard Norgaard, David Palmer, Murphy Sewall, James Sfiridis, Susan Spiggle and Crayton Walker were among those assembled, with their significant others, at the beautiful Mansfield home of Richard Norgaard and Karen Zimmer. Dean Elliott’s charming wife, Laura Philips, also attended the first formal gathering of retired faculty on Dec. 7.
Other important purposes of the meeting were to reinforce contacts among lifelong colleagues, share memories and enjoy each other’s company. Attendees enjoyed a catered, champagne brunch, entered a drawing for door prizes and shared stories of those who could not be present that day but wished to be remembered to all, such as Karla Fox who was in New York at the birth of her fourth grandchild.
One interesting discovery is the creative outlets in which some retirees are engaged. Michael Lubatkin has just published a scholarly book, but focused more in the area of philosophy than in management. Dick Kochanek has been painting for a number of years and his artwork has evolved such that he is currently receiving accolades at juried shows. Rob Hoskin has honed his skills as a craftsman and produces beautiful objects in wood.
Among those who could not attend is Steve Messner. His daughter would love to deliver any notes and well wishes, so please write to Steve in care of: Stephanie Brown, 144 Woodleaf Drive, Winter Springs, FL 32708.
Planning is underway to host a Spring 2015 event on the Storrs campus. More information will be provided soon. Those wishing to remain in touch should contact Cynthia H. Adams, Professor Emerita from the former School of Allied Health, at cindyadams930@gmail.com or 860-230-8951.
Photos from the gathering can be viewed here.
KPMG Case Competition is Heading to Las Vegas!
“The KPMG/NABA Case Study Competition provides participants with an opportunity to develop and showcase skills that they’ll use throughout their careers on a daily basis,” said Reggie Reed, a KPMG Audit partner who has served as one of the competition’s judges. “Companies operate in an increasingly complex and global environment, so the ability to think critically, assess risk, and have a global perspective are important traits that organizations like KPMG are looking for in recruits.”
Each team identifies and analyzes the issues associated with an MBA-level case study. The students then present recommendations that incorporate their knowledge of the current global marketplace, giving consideration to cultural, economic, political and other factors that would impact a successful implementation.
“KPMG is an organization that’s committed to diversity and inclusion and we’re pleased to continue to collaborate with them on this competition,” said Kenneth E. Cooke, CPA and chairman of the board of NABA, Inc. “The KPMG/NABA Case Study Competition gives our NABA chapter students a chance to take what they’ve learned on campus and apply it in a real-world, professional scenario–it’s gratifying to see how they rise to the challenge.”
The UConn NABA chapter will send a team to compete in Las Vegas, Nevada, June 10 – 13, 2015.
Students interested in joining the team should contact NABA Chapter President, Danielle Wellington ’15 at uconnnaba@gmail.com. Must be a paid NABA member to participate.
Apply Now! KPMG’s Future Diversity Leaders (FDL) Program
KPMG LLP (KPMG) is seeking high-performing freshman and sophomore students who have demonstrated, and continue to demonstrate, a commitment to diversity and are interested in future opportunities at KPMG through participation in their exciting Future Diversity Leaders (FDL) program.
What is the Future Diversity Leaders program?
- The FDL program begins with a three-day leadership conference, held in Hollywood, CA, focused on preparing high-potential students with the skills and perspective to be the business leaders of tomorrow.
- Based on your performance and participation at the leadership conference, if you are recommended to participate in an office visit for a summer internship in KPMG’s Trainee Program, you will receive a $1,000 scholarship.
- Upon successful completion of your first internship, you will receive another internship offer to continue in the Trainee program. Should you accept this offer, you will continue in the Trainee program and receive additional scholarship dollars. You will continue in this program until the summer before your graduation.
- In your last summer, you will enter KPMG’s Practice Internship where you will gain actual hands-on experience through interactions with various clients in the line of business that you have chosen.
The application deadline is February 11th (extended from Feb. 6th).
On Campus Interviews: KPMG representatives will be on campus February 27th to conduct interviews for selected students.
Please email application and all requested materials to Caitlin Toohey, Manager Campus Recruiting, KPMG LLP at ctoohey@kpmg.com.
Greater Hartford Accounting Firms Facing Workforce Shortage
Hartford Business Journal – Hartford area accounting firms say they are on a hiring spree to address a region-wide personnel shortage driven by heavy workloads, increased competition for talent, and professional burnout.
While accounting has historically been an in-demand profession, a few changes in recent years have amplified competition among firms and corporations recruiting talent, said Mohamed Hussein, a professor and head of UConn’s accounting department, which graduates over 100 accounting majors per year.