Martin J. Whitman School of Management Syracuse University 

ORANGEACCOUNTING NEWS News for Alumni and Friends of the Joseph I. Lubin School of September 2007

Pioneering iMS in The iMS in Accounting Accounting Launched HOW IT WORKS esponding to the needs of accounting is seen as highly desirable accounting professionals who preparation for the sophistication and want to earn a master’s degree complexities in the profession today. For in a timely manner without many practicing accountants, it’s also Rjumping off the career track, the Whit- the most efficient route to earning the • 30 credits for qualified students man School has launched the iMS in additional hours typically needed beyond Accounting, the only program of its kind the undergraduate degree in order to be • Typically completed in five in New York State. Built on the same eligible for CPA certification.” semesters model as the school’s highly respected In most states, CPA certification • Students spend a week on iMBA, the 30-credit program blends requires 150 credit-hours of collegiate the Syracuse University campus three weeks of residency per year on the training—30 hours beyond the typical at the start of each trimester SU campus with extended periods of undergraduate program. This require- in intense class sessions with distance-learning. ment will become effective in New York faculty and classmates. “The career opportunities in ac- in 2009. • Students work independently counting today are tremendous,” says “The timing for the launch of the through the remainder of the Professor Randal Elder, director of iMS couldn’t be better,” notes Donald term using an online course Whitman’s Joseph I. Lubin School of Favre of PricewaterhouseCoopers. Favre management system. Accounting. “But so are the demands to leads PwC’s International Banking • The Whitman iMS program fea- perform and contribute, and the MS in Practice and is a partner in its Metro tures the same curriculum and faculty as Whitman’s full-time MS continued on page  in accounting, and the degree awarded is the same. Accredited by AACSB International and registered with New York State as a 150- hour qualifying licensure program.

Inside This Issue From the Director ...... 2 Dean’s Update...... 6 Alumni Profile ...... 8 Placement ...... 9 Faculty Research ...... 10 Alumni Notes ...... 15

Whitman MS in Accounting students  Joseph I. Lubin School of Accounting Orange Accounting News September 2007

A Message from the Director

For those needing additional courses to Meeting the Need for meet the 150-hour rule, the Lubin School’s Qualified Accounting iMS in accounting provides an innovative solution. This limited residency distance Talent education program is patterned after the Whitman School’s successful iMBA and t’s hard to believe that it has been students can transfer seamlessly between more than five years since the pas- the full-time MS in accounting and iMS sage of the Sarbanes–Oxley Act. While program, giving them the flexibility to the and benefits of the Act have time their entrance into the profession and Ibeen greatly debated, all would agree that choose the educational approach that best its impact on the accounting profession has meets their needs. Elective courses from the been profound. iMBA and SU’s nationally renowned School Sarbanes-Oxley has not only signifi- of Information Studies give our master’s cantly changed the practice of accounting, students added value and skills and help it has heightened the demand for account- meet the increased demand for students ing graduates with advanced skills. In turn, trained in both information systems and pressures have mounted for accounting edu- business. cators to meet the fresh needs of employers Although there has been an upturn in and students. accounting enrollments, even more account- The increased demand for exceptionally ing graduates are necessary to meet the trained accounting graduates was exacerbat- needs of the profession. Through Syracuse ed by Sarbanes–Oxley’s enactment shortly University Project Advance, high school after most states implemented the 150-hour students can now take introductory financial rule for CPA licensure. New York is one of accounting for college credit. The program the last states to implement the 150-hour ensures that high-achieving high school requirement, with a 2009 effective date, and students’ first exposure to accounting is in anticipation of this milestone, account- positive and accelerates their accounting ing programs in New York have evolved to studies in college. prepare graduates for the new reality. We’re proud of these innovative pro- In the Lubin School, we’ve developed grams—and we’ll continue to evolve to meet new programs to help address employers’ the ever-changing needs of our employer needs for qualified staff and meet students’ partners and students. needs for the additional coursework needed for licensure—programs targeted toward pre-college and post-baccalaureate students. Martin J. Whitman School of Management Syracuse University 

LUBIN SCHOOL OF ACCOUNTING FACULTY

Kofi Appiah Okyere Michel Benaroch Randy Elder Assistant Professor Professor of Professor of of Accounting Management Accounting and PhD, University Information Systems Director of the of Wisconsin PhD, New York Lubin School University PhD, Michigan State University

Mitch Franklin Leon Hanouille David Harris Assistant Professor Assistant Professor Associate Professor of Accounting of Accounting of Accounting PhD, Walden PhD, Syracuse University Director, George E. University Bennett Center for Tax Research PhD, University of Michigan

Don Harter Badr Ismail Yogesh Malhotra Assistant Professor Professor of Assistant Professor of Management Accounting of Management Information Systems Director, MS Program Information Systems PhD, Carnegie PhD, University PhD, University Mellon University of Illinois of Pittsburgh

Mohamed Onsi Alex Thevaranjan Padmal Vitharana Emeritus Professor Associate Professor Associate Professor of Accounting of Accounting of Management PhD, University PhD, University Information Systems of Illinois of Minnesota PhD, University of Wisconsin-Milwaukee

William Walsh Hong Xie Joyce Zadzilka Assistant Professor Assistant Professor Assistant Professor of Accounting of Accounting of Accounting Director, iMS Program PhD, University of Iowa MBA, Syracuse MBA, Syracuse University University  Joseph I. Lubin School of Accounting Orange Accounting News September 2007

BAP Offers Syracuse Community Free Tax Assistance

or many, tax season can be a “For others, the earned income credit nightmare. The tight dead- can complicate the return. By extending lines, complicated IRS forms, the VITA program into the community, BAP Honored and fear of error often require we’ve been able to save many individu- for Community Findividuals to seek assistance from als money by accurately completing tax expensive accounting firms or govern- forms for them at no charge.” Engagement ment agencies. This year, members of The dedication of these Whitman the Syracuse community easily avoided accounting students during tax season SU’s chapter of these extra expenses by simply visiting was acknowledged in an article titled Beta Alpha Psi, the Whitman School of Management “Facing Down Form 1040” featured the honorary before the April 17 deadline. in the February 20 edition of Business organization for Beginning in early February, the SU Week. In this article, Whitman account- chapter of Beta Alpha Psi (BAP) recruit- ing freshman Jorie Didier was quoted accounting and ed 20 of its members to carry on the explaining why so many people experi- other financial organization’s long-standing tradition ence anxiety during tax season. “I think information stu- of lending a helping hand during tax the scariest part of filing is [the dents, was awarded its season. For three decades undergradu- possibility of] getting in trouble with the sixth Chancellor’s Award for Public ate accounting students enrolled in the authorities, even if you make a mistake Engagement in March. The annual Lubin School of Accounting at Whitman by accident,” says Didier. have been IRS certified and trained to Fears aide, about 100 students, Syracuse University honor recog- provide assistance on non-complicated faculty, staff, and community members nizes campus organizations and IRS short forms (1040EZ or 1040A). sought help from the VITA group during individuals who contribute most As with many of the fraternity’s the two-month span of the program. Even to improving the quality of life in service projects, the Volunteer Income though the frustrated tax filers may seem Greater Syracuse. Tax Assistance group (VITA) extended to be receiving all the benefit of this free BAP was lauded for its broad its services beyond the campus, assisting service, the accounting students also take low-income community members at the a lot away from the experience. “This pro- engagement with the community, Mundy Branch Library in Syracuse. gram allowed students to put into action through its involvement in the IRS “For many lower-income families, all of the information they were learn- Volunteer Income Tax Assistance the tax return can be rather simple once ing in their classes,” says Franklin. “The (VITA) program, and the tutoring they have an understanding of the appro- students also become more marketable to and mentoring members provide priate forms to be completed,” says Mitch employers as they graduate with IRS cer- at Danforth Middle School. Franklin, assistant professor of account- tification—it’s a real resume booster.”■ ing and faculty advisor to Beta Alpha Psi.

Pioneering iMS in Accounting Launched continued from page  New York Banking and Capital Markets globe. More than 200 working profes- credited graduate programs in a format Tax Practice and also chairs the Lubin sionals have voted with their feet for this that meets the needs of learners today,” School of Accounting’s Advisory Board. unique limited-residency, distance-learn- observes Whitman dean Melvin T. Stith. “The flexibility of the program will make ing delivery option. Participants appreci- “And we’re excited to welcome our first it an attractive option for associates in ate having the freedom of independent iMS class. Our iMBA and iMS students accounting firms in the greater North- learning without having to sacrifice the bring great professional experience to east and beyond.” social and networking benefits that come their studies and enrich our student Indeed, if Whitman’s iMBA enroll- with face-to-face learning at a world-class body in enormous ways.” ■ ment demographics are any indication, university campus. Learn more about the iMS in Accounting the program will attract professionals “At Whitman, we’re proud to be in curriculum and other program specifics at from across the country and around the the forefront in delivering rigorous, ac- Whitman.syr.edu/imsacc. Martin J. Whitman School of Management Syracuse University 

FACULTY NOTES Lubin Welcomes New Faculty

Hong Xie comes to the Lubin School of Joyce Zadzilka, CPA, has been an Accounting from the University of Illinois assistant professor of accounting at at Urbana-Champaign, where he served Morrisville State College, in Morrisville, as an assistant professor of accounting N.Y., since 2000. She will be teaching since 2001. He will be teaching interme- introductory financial and manage- diate accounting and expanding on his rial accounting and advanced financial current research in the areas of financial accounting. reporting and of capital. Zadzilka worked as a senior accoun- Hong Xie Xie earned his doctorate at the Joyce Zadzilka tant with KPMG in Buffalo, N.Y., before University of Iowa and there was earning an MBA from Syracuse University recognized with and university-wide in 1996. She then joined Carrier Corporation’s presti- awards for outstanding teaching. In 1999, he earned a gious Leadership Associate Program, a two-year rotation “Best Dissertation Award” from the Financial Accounting encompassing four assignments across functional and and Reporting Section. Xie is a member of the Editorial geographic boundaries, and in 1998 joined Carrier’s Carlyle Advisory and Review Board for The Accounting Review. Compressor division, in Syracuse. Here she acted in a lead role for a $10 million business unit.

Lubin School of Accounting Achieves Top-10 Ranking

hitman’s Joseph I. Lubin School of Accounting is among the top-10 for faculty scholarly pro- ductivity in a new index of graduate programs published January 12 in the Chronicle of Higher WEducation. Partially financed by SUNY Stony Brook and pro- duced by Academic Analytics, the annual index uses subjective measures to rate the productivity of faculty in doctoral-granting programs, including the number of books and journal articles published, journal citations, awards and honors, and federal grant dollars awarded. The ranking examined more than 7,000 programs at 354 institutions. “This measure of our program’s strength confirms that our faculty’s scholarship is moving Lubin into the top tier,” observes Professor Randy Elder, director of the Lubin School. “It’s also an indicator of the exciting research culture that our graduate stu- dents tap into at Whitman.”

2005 Faculty Scholarly Productivity Index: Accounting Programs

1. Michigan State 6. Emory University 2. Ohio State 7. University of Iowa 3. University of Pennsylvania 8. New York University 4. Pennsylvania State 9. Northwestern University 5. Georgia State 10. Syracuse University  Joseph I. Lubin School of Accounting Orange Accounting News September 2007

Dean’s Update

accounting theory and practice through various published books and journal arti- cles, as well as journal citations, awards, and honors, led to this recognition. In other Lubin School faculty news, select faculty will soon be teaming up with SU in its Project Advance initiative, sending Whitman accounting faculty to secondary schools to offer qualified seniors the chance to enroll in college- level courses. The Lubin School also is pleased to introduce two new members to our team. We welcome Hong Xie and Joyce Zadzilka to our Whitman family and wish them the best of luck in com- ing years. We are also proud to have intro- duced our new distance-learning iMS in Accounting program. This program is designed for working professionals, giving them the opportunity to enhance their education while taking courses to qualify for the New York State CPA s the 2006-07 academic year exam. came to a close, we watched With all the great accomplishments another class of outstanding the Lubin School has seen this year, we Whitman students enter the are excited to announce that our alumni Aglobal marketplace fully qualified and network is stronger than ever. With the highly sought after. Preparing students introduction of the new Accounting to meet their professional goals is above Alumni Council Web site, alumni are all else our greatest accomplishment able to keep in touch and up-to-date on and something we would not be able to networking opportunities with current do without the continued support and Whitman students and also activities dedication of alumni and friends of the held at SU’s Lubin House in New York Whitman School. City. Please visit Whitman.syr.edu/ This year, faculty members in the Academics/Accounting to learn about Joseph I. Lubin School of Accounting new initiatives. acted as the forerunners in our strive for Have a great year! academic excellence, earning recogni- tion as a top-10 school for faculty schol- arly productivity by Academic Analyt- ics/SUNY Stony Brook, published in the Chronicle of Higher Education. Their Melvin T. Stith commitment to the refinement of Martin J. Whitman School of Management Syracuse University 

Spring 2007 Beta Alpha Psi Banquet

he Joseph I. Lubin School of Accounting Leadership Award Melissa Evanco, VP Banquet Accounting was pleased to rec- Joe Iannace, Ken LaFrance, Jonathon Peterson, Treasurer ognize the following students Jesse Sherwood at its annual spring banquet on Shirley To, VP Membership Joseph I. Lubin School of TApril 19. Marley Cohen, VP Secretary Accounting scholarship awards Andrew Weinberger, VP Student recognition Horace Landry Scholarship Community Service Galloway Scholars Brian Burrow, Molly Fisher, Andrew Weinberger, Samantha Weiss Brian Burrow, VP Community Justin Frazier, Timothy Newville, Service Elizabeth Toppin Eisner LLP Award Amy Marcello, VITA Coordinator Institute of Internal Auditors Award Melissa Evanco Shuai Pu, xACT Coordinator John Orcutt A. William Trelawny Award Molly Fisher, xACT Coordinator New York State Society of CPAs Alexa Ferugia Academic Achievement Award David E. Tosh Award Beta Alpha Psi Officers 2006 Lisa Cahill and Elizabeth Hickey Amy Marcello Lisa Cahill, President New York State Society of CPAs PricewaterhouseCoopers Award Elizabeth Hickey, VP Banquet Career Preparation Award Lisa Cahill Alexa Ferugia, Treasurer Alexa Ferugia and Terese Sawicki Outstanding Teaching Assistant Brittannya Peterson, Membership Whitman Scholars Award Andrew Flood, Secretary Lisa Cahill, Andrew Flood, David Iacucci Daniel Griffin, Joe Iannace, Jeffrey Hirshfield, Community Kelly Schuttinger, Jesse Sherwood, Tracy Halpin Award Service Camille Vickers Allison Howgate Jesse Sherwood, Community Service Joseph I. Lubin School of Beta Alpha Psi Officers 2007 Accounting awards Joe Iannace, VITA Coordinator Allison Howgate, Spring 2007 Accounting Academic Achievement President Ken Lafrance, xTAX Coordinator Award Kasia Gorska, xTAX Coordinator Andrew Flood, Dan Griffin, Matthew Fleming, Fall 2007 Diana Missert President Jason Benati, Webmaster

2006 Beta Alpha Psi officers  Joseph I. Lubin School of Accounting Orange Accounting News September 2007

iMS in Accounting Suits this Marathon Man by Maureen Roen

rian McNeil’s decision to begin iMS course and I’ve got two classes left McNeil says he especially enjoys the coursework for Whitman’s after this term. I may take one in the fall international piece of his work. “Every master’s in accounting in Janu- and one in the winter, because I’m feel- country has its own tax laws to learn. ary 2006—only a month after ing pressure from upper management The EU is always changing. Every day Bhe’d graduated and just as he was begin- to make the push and sit for the CPA brings something new and challenging. ning the demands of a full-time position exam in the fall. At PwC, you can only It requires a lot of research and critical in PricewaterhouseCooopers’ Charlotte get promoted one staff level without it, thinking, which has given me an appre- office—was not at all atypical. A com- which would probably be next summer ciation for Whitman as a school of man- petitive runner much of his life, McNeil for me,” he says. “You don’t want to put agement. Whitman didn’t just pound me knows first-hand the rewards that come it off.” with the technical tools,” he reflects. “It with diligence, training, and discipline. As a tax associate in PwC’s Inter- gave me the breadth to see things from “I had a great relationship with national Division, McNeil’s busy season a 360-degree angle, from professors Randy Elder and Bill Walsh is summer, working with Fortune 500 to finance to marketing to accounting. and talked with them a lot I can see in some of my about my career plans,” colleagues the differ- McNeil says. “As gradua- ence between a ‘business tion approached, I knew school’ education versus I wanted to start working the foundation you get in and not wait another year, a school of management.” so the full-time master’s In his free time, degree was out. I also McNeil is immersed knew that with the 150- Brian McNeil in a marathon effort of credit-hour rule in place ’05 BS, ’08 MS another sort. In the early in most states to sit for Tax Associate, mornings or late at night PricewaterhouseCoopers the CPA exam, I’d most Charlotte, N.C. he takes to the pavement, likely need to get 20 or so typically logging 85 miles additional credits beyond a week as he trains for the the bachelor’s. Olympic marathon trials. “I was working as a He placed first overall in TA for Professor Walsh in the Cleveland Rite Aid my final semester when Marathon in May, with a he told me, ‘You know, time of 2:31:06. Hoping we’ve got something in to shave off the several the works here that would minutes needed to meet be just right for you—the independent clients who have taken six-month filing the Olympic qualifying mark of 2:22, study MS in accounting.’” McNeil ex- extensions. Most of his assignments McNeil has arranged to take a short plains. “It sounded perfect. Ten classes, with the firm have focused on earnings- leave-of-absence in Colorado in the fall, 30 credits—I figured I could probably profit studies for multinationals and where he’ll train for six weeks and then pump it out in a year-and-a-half.” computing optimal Section 199 deduc- run the LaSalle Bank Chicago Marathon. The iMS in accounting hadn’t been tions now being phased in as part of the “The firm has been incredibly sup- formally approved by the time McNeil 2004 American Jobs Creation Act and portive of my Olympic aspirations,” he was ready to enroll in spring 2006, but the Extraterritorial Income exclusions notes, “offering flexible work arrange- that didn’t prove to be an issue. He be- that are being phased out. Explains Mc- ments or time off for training should I gan taking accounting-focused courses Neil: “We take all the transactional sales need it. They’ve basically said that until through Whitman’s venerable iMBA pro- data to determine income attributable to the trials are over, my training should gram, and then transferred seamlessly domestic production, scrub it, and then be extremely high priority. They’re really into the iMS after formal approvals came compute the optimum exclusions and running with the work-life balance value through from the State of New York. deductions to be incorporated into client they stressed when I was recruited.” ■ “So this summer is my first ‘official’ returns.” Martin J. Whitman School of Management Syracuse University  iMS in Accounting Suits this Placement Remains Strong he continued strength of the For information on recruiting Whit- Marathon Man accounting market resulted in man School of Management graduates, by Maureen Roen another year of excellent place- contact Angela Petrucco, director of the ment for Lubin School of Ac- Whitman Career Center, at 315-443-9611, Tcounting graduates. For our undergradu- [email protected]. If you would like ates, the average reported starting salary additional information about recruiting exceeded $50,000. As of June 30, 2007, Lubin School of Accounting graduates, the following graduates reported accept- you may also contact Professor Randy ing positions with the firms indicated.* Elder at 315-443-3359, [email protected]. ■

Name Employer Location Blake Reidy Rothstein Kass New York City Daniel Angel Bear Stearns New York City David Ries KPMG New York City William Aramony Deloitte McLean, Va. Joana Rocha Starr Deloitte New York City Ashley Baiter PricewaterhouseCoopers New York City Brett Russo Merrill Lynch New York City Timothy Canfield Deloitte Rochester, N.Y. Jesse Sherwood Goldman Sachs New York City Andrew Dalecki BDO Seidman New York City Mayadeh Sousou PricewaterhouseCoopers Rochester, N.Y. Joseph DiCeglie Citigroup New York City Joshua Terkel Ernst & Young New York City Alexa Ferugia PricewaterhouseCoopers Rochester, N.Y. Elizabeth Toppin PricewaterhouseCoopers Boston Andrew Flood Ernst & Young New York City Jeffrey Twilley Manning & Napier Advisors Inc. Rochester, N.Y. Matthew Francisco Nisivoccia & Co. Randolph, N.Y. Peter Vicario PricewaterhouseCoopers New York City Jason Gallus Berdon LLP New York City Camille Vickers PricewaterhouseCoopers New York City Alex Gramajo Grant Thornton Boston Winston Wang BDO Seidman New York City Daniel Griffin Ernst & Young New York City John Walker Fresenius Medical Care Waltham, Mass William Haughney Smith Barney Raleigh, N.C. North America David Hayward Deloitte New York City William Weinstock Eisner New York City Megan Hickey Hays & Company New York City Randy Williams Deloitte New York City Jeffrey Hirshfield BDO Seidman New York City Michael Ho Deloitte New York City Allison Howgate Deloitte New York City Graduate Students Joseph Iannace Jr. Ernst & Young New York City Philip Bertorelli PricewaterhouseCoopers Albany, N.Y. Mehwish Iqbal PricewaterhouseCoopers New York City Leah Boudreau PricewaterhouseCoopers Boston Sin Jun Principal Financial Group Syracuse Lisa Cahill PricewaterhouseCoopers Atlanta Alexandros Katsetos KPMG Stamford, Conn. Kelly Duan Ernst & Young New York City Daniel Kauffman Deloitte New York City Chen Fong BDO Seidman New York City Ryan Krant BDO Seidman Woodbridge, N.J. Sharad Goel Ernst & Young New York City Kenneth LaFrance PricewaterhouseCoopers New York City Elizabeth Hickey PricewaterhouseCoopers Boston Inessa Levochkina Sinopoli & Sinopoli Syracuse David Iacucci PricewaterhouseCoopers New York City Qian Liu Deloitte New York City Yoon Kang Deloitte New York City Alicia Luboch PricewaterhouseCoopers New York City Patrick McManus PricewaterhouseCoopers Boston Kathryn Maurer Smith Wegner Madison, Wis. Alex Nitka BDO Seidman New York City Matthew McArdle Defense Finance & Rome, N.Y. Yu Noguchi Ernst & Young New York City Accounting Systems John Orcutt Defense Finance & Rome, N.Y. David Mendini Manning & Napier Advisors Inc. Rochester, N.Y. Accounting Systems Andrew Miller Deloitte New York City Terese Sawicki Ernst & Young New York City Mariel Montolio Deloitte New York City Piotr Sycz Deloitte New York City Lauren Munschauer PricewaterhouseCoopers Boston Piper Titus DiMarco, Abiusi & Pascarella Syracuse Sameena Nizami Hays & Co. New York City Brian Odell Rothstein Kass Roseland, N.J. Jesse Pafundi Deloitte Jericho, N.Y. *Placement data and salary information reflects information provided Tsiang Pham Eisner New York City voluntarily by students as of July 16, 2007. Information in this report is Brittannya Peterson PricewaterhouseCoopers Los Angeles preliminary based on national standards, and a final report will be available Legia Pisinski PricewaterhouseCoopers Boston in August 2007. 10 Joseph I. Lubin School of Accounting Orange Accounting News September 2007

Faculty Research and Professional Activities June 2006 – June 2007

Books and Papers Published or forthcoming in Journal of Contemporary “A Formal Model and Methodology for Accepted for Publication Accounting and Economics. Measuring IT Investment Risks,” (with ”Perspectives on Auditing Education A. Appari), Academy of Management Kofi Appiah Okyere after Sarbanes–Oxley,” (with A. Arens), Conference, August 2006. “The Effect of Temporal Shifts in Mana- Issues in Accounting Education (Novem- “An Integrative Economic Optimiza- gerial Equity Incentives on Financial ber 2006). tion Model to IS Development Risk Statement Quality,” American Account- Management,” (with J. Goldstein), ing Association Annual Meeting, August Mitchell Franklin Americas Conference on Information 2006. “Employee Fraud: How Do You Keep Systems,August 2006. Hands out of the Cookie Jar,” CNY Busi- Michel Benaroch “Project Milestones for Managing Risk ness Exchange (June/July 2007). in Software Development Outsourc- “Option-Based Management of Tech- “An Entrepreneurs Guide to Predict- ing: A Real Options Perspective,” (with nology Investment Risk,” in Operations ing the Future Financial Health of the J. Goldstein), Americas Conference on Management II, Bennet David (editor), Venture,” forthcoming in CNY Business Information Systems, August 2006. SAGE Publication, 2006. (Reprinted Exchange. with permission from IEEE Transactions Randal Elder on Engineering Management.) Leon Hanouille “Tax Consulting and Reported Weak- “Real Options in IT Risk Management: Dynamic Accounting: An Adventure in nesses in Internal Control,” (with D. An Empirical Validation of Risk-Option Learning Made Easy. CD-ROM. Kend- Harris and J. Zhou), Colorado State Relationships,” (with Y. Lichtenstein and all/Hunt Publishing Company (August University, April 2007. K. Robinson), MIS Quarterly (December 2006). “Internal Control Weaknesses and Client 2006). Risk Management,” (with Y. Zhang, J. Yogesh Malhotra “On the Valuation of Multi-Stage IT Zhou, and N. Zhou), American Ac- Investments Embedding Nested Real “Knowledge Management in Inquiring counting Association Auditing Section Options,” (with S. Shah and M. Jeffery), Organizations,” Computer Society of Midyear Conference, January 2007. Journal of MIS (Summer 2006). India Communications (July 2006). “A Summary of Research and Enforce- Randal Elder Padmal Vitharana ment Release Evidence on Confirmation Use and Effectiveness,” (with P. Caster Auditing and Assurance Services: An Inte- “Measuring Critical Factors of Software and D. Janvrin), American Accounting grated Approach, A. Arens, R. Elder, and Quality in Management: Development Association Auditing Section Midyear M. Beasley, (Prentice-Hall 12th edition, and Validation of an Instrument,” (with Conference, January 2007. 2008). M. Mone), forthcoming in Information Resource Management Journal. “ and Earnings “Auditor Specialization, Perceived Restatements: Evidence from Regulatory Quality, and Audit Fees in the Local Presentations Changes,” (with K. Chen and Y. Hsieh), Government Audit Market,” (with S. American Accounting Association Lowensohn, S. Johnson and S. Davies), Michel Benaroch Auditing Section Midyear Conference, forthcoming in Journal of Accounting and “Assessing Option-Based IT Investment January 2007. Public Policy. Risk Management: A Case Study of Data “Audit Satisfaction, Perceived Audit “Corporate Governance and Earnings Mart Consolidation in an Airline Firm,” Quality, and Audit Fees in the Local Management: The Implications of (with M. Jeffery, R. Kauffman, and S. Government Audit Market,” (with L. Corporate Governance Best-Practice Shah), 20th Anniversary Symposium Johnson and S. Lowensohn), American Principles for Taiwanese Listed Com- on Competitive Strategy, Economics and Accounting Association Annual Meet- panies.” (with K. Chen and Y. Hsieh), Electronic Commerce, January 2007. ing, August 2006. Martin J. Whitman School of Management Syracuse University 11

Reforming Sarbanes–Oxley: Proceed with Caution

by Professor Randy Elder David Harris Director, Lubin School “Bilateral Implicit Taxes and Anti-Com- petitive Banking Regulation,” (with E. alls to reform Sar- Kilic), American Accounting Association banes–Oxley came Annual Meeting, August 2006. almost as quickly as its hasty enact- Don Harter Cment following the Enron and “Contracting and Performance Out- WorldCom scandals. Reform is comes in Software Development finally here, with the issuance Outsourcing: A Field Study,” INFORMS of Auditing Standard 5 by the conference, November 2006. Public Company Accounting “Resource Planning Software Develop- Oversight Board (PCAOB) ment: Cause for Failure and Steps for that significantly addresses Recovery,” National Science Founda- many of the concerns about tion Project Science workshop, October the costs of complying with 2006. Sarbanes–Oxley. However, the new standard may go too far in “Process Transformation and Human reducing the effectiveness of Capital in IS Development: Comple- reports on internal control. ments or Substitutes?” Academy of Man- Undoubtedly, the standard agement Conference, August 2006 goes a long way in addressing The only way to provide meaning- Other Activities the concerns of larger public compa- ful relief to these entities is to make nies that are already subject to Section Randy Elder was appointed to the edito- them exempt or to establish rotational 404 reporting. But it does not go far rial board of Issues in Accounting Educa- reporting requirements. Since neither enough in addressing the concerns of tion and Current Issues in Auditing. of these are likely to happen, the new non-accelerated filers, smaller public standard is unlikely to eliminate com- Bill Walsh was awarded the Oberwager companies which are not yet subject to plaints about the cost of compliance. ■ Prize for outstanding student mentoring reporting under Section 404. The SEC in the Whitman School of Management. has already extended three times the Professor Elder’s research interests are in the date by which these companies must areas of audit quality and auditor perfor- Yogesh Malhotra was profiled as one mance, and he is a co-author of a leading of the “World’s Leading Management comply, in recognition that the costs auditing textbook, Auditing and Assurance Thinkers” in the Business Standard, associated with their compliance are Services: An Integrated Approach. India. He also was certified in the proportionately much steeper than for Information Systems Audit and Control large companies. Common Body of Knowledge. Padmal Vitharana was editor for a spe- cial issue of the Information Technology and Management Journal on “Architec- ture and Design for Application Agility.” He also was a track chair for the Ameri- cas Conference on Information Systems (AMCIS) held in August 2006. 12 Joseph I. Lubin School of Accounting Orange Accounting News September 2007

Lubin School of Advisory Board Update Accounting Meet two of Lubin’s newest Advisory Board members ADVISORY BOARD Mark S. Reid ’84 MBA 2007-2008 A CPA with Firley, Moran, Freer & Eassa PC in East Jeffrey Allen, The Impac Companies Syracuse, N.Y., Mark Reid has extensive background Daniel Arty, Arty, Cohn & Feuer in serving the energy sector and heads the firm’s Ellen Auster, Deloitte & Touche practice in this industry. His experience with this Joseph Barnes, sector includes , income PricewaterhouseCoopers tax planning and compliance, restructuring of power contracts, buy-outs of power contracts, organiza- Richard Brown, Beyondpay tional structuring, troubled debt workouts, and other Jacob Cohen, INSEAD transactional structuring. Reid is responsible for a Scott Ehrenpreis, J.H. Cohn LLP wide-range of tax planning and compliance services, Donald Favre, PricewaterhouseCoopers specializing in large corporate and partnership businesses. His clients file tax Susan Frieden, Ernst & Young returns in all 50 states. He has more than 21 years of accounting experience, in- cluding seven years with a national accounting firm in Syracuse in both the audit Lisa Halper, PepsiCo and tax areas and four years as a tax manager with HYDRA-Co Enterprises Inc., a Jack Healey, Industrial Distribution power plant management and development company. Reid earned a BS in engi- Group neering science from SUNY Buffalo and an MBA from Syracuse—both summa Phillip Kaputa, Accenture cum laude. Steven Kass, Rothstein Kass Jennifer Kreischer, Frank Saracino ’88 BS PricewaterhouseCoopers Frank V. Saracino is the chief accounting officer of Sharon Leib, Eisner LLP eSpeed Inc., the publicly-traded subsidiary of Cantor David Lewin, Dunkin’ Donuts Fitzgerald LP. eSpeed is a technology company that develops and deploys electronic marketplaces to the Louis Marcoccia, Syracuse University global capital markets. Saracino joined Cantor in Paula Morabito, Ernst & Young September 2004, and has played a fundamental role Pete Nachtwey, The Carlyle Group in the company’s post-September 11th resurgence. Mike Olesin, Deloitte & Touche He recently expanded his financial leadership to Mark Reid, Firley, Moran, Freer & Essa PC include newly formed Cantor-company Aqua Equi- ties, a start-up alternative electronic equities trading Richard Romar, BV Group Ventures platform. Saracino previously served as a vice president of investment banking at Frank Saracino, eSpeed Inc. Deutsche Bank, focusing on originating and executing equity, debt and merger & acquisition transactions for the telecommunications industry. His success- ALUMNI COUNCIL ful senior accounting roles at Morgan Stanley and subsequently with Deutsche 2007-2008 Bank, earned him a direct promotion to investment banking associate, a rare Marc Ben-Ami, PricewaterhouseCoopers Wall Street occurrence. He launched his career in public accounting at Coopers & Lybrand where he earned a CPA and subsequently worked in internal auditing Jackie Carr, Deloitte & Touche for The Dun & Bradstreet Corporation. Saracino also has extensive international Cheryl Curri, KPMG experience having worked in twelve countries on five continents. Peter Dahill, KPMG Simon Gong, J.H. Cohn LLP Lara Jeremko, PricewaterhouseCoopers Tiernan Klunk, Rothstein Kass Veronica Martinez, Eisner LLP Georgianna Nertea, Eisner LLP Chris Sweeney, PricewaterhouseCoopers Martin J. Whitman School of Management Syracuse University 13

Networking at Lubin House Alumni Council Keeps NYC-Area Grads Connected

In June, the Lubin School of Accounting Alumni Council hosted a well-attended net- working event for faculty, alumni, and Advisory Board members at SU’s Lubin House in Manhattan. For information about upcoming alumni events and the activities of the Alumni Council, contact Marc Ben-Ami ’00 BS at [email protected]. 14 Joseph I. Lubin School of Accounting Orange Accounting News September 2007

WE THANK OUR DONORS Accounting Excellence Fund Scott F. Campbell Walter G. Rich Siu H. Chan-Liu Wilbur L. Townsend Gifts to the Accounting Excellence Fund Diane Chin-Fu Mr. and Mrs. Gilbert S. Trelawny provide support needed above and Merrill L. DiPietro Harold L. Williams Jr. beyond the regular, annual operating bud- Randal J. Elder get to sustain program excellence. The Thomas E. Feeney $25-499 fund supports student recruitment and Thomas J. Foley James L. Antes student organizations, faculty development, Mitchell A. Franklin Carolyn A. Beckmann course and research development, and Paul D. Goldsmith Christopher J. Bray alumni efforts, including the work of the Richard J. Harper Joseph M. Bussichella Accounting Advisory Board and Accounting Lara C. Jeremko Sue B. Dean Alumni Council. Donor amounts include Lauren S. Lamensdorf Randal J. Elder matching gifts where applicable. Krista M. LaRuffa Oneica A. Greaves $5000+ Christopher M. Lindblom Lara C. Jeremko Katherine E. Lyons Paul A. Kuhnle Robert M. Brown Roberta M. and Christopher M. Rickli Susan A. Frieden Brian P. McNeil Jennifer L. Kreischer Patrick J. Moran Endowed Accounting Scholarship Beth E. Perillo $1,000-4,999 Julie M. and Ryan O. Plesh Fund Elsa B. and Eugene P. Bonstein Jr. Karen E. Savage Mr. and Mrs. Michael L. Somich Leslie F. and Richard W. Brown Jay Soon Mr. and Mrs. Michael E. Cyran Christopher J. Sweeney Debbie and William Zysblat Martin S. Dembo Lee Vanderpool Endowed Scholarship Donald P. and Sharlene S. Favre Lisa M. Wittich Debbie S. and William L. Zysblat Mr. and Mrs. F. Robert Gilfoil Jr. Horace J. Landry Endowed Paul R. and Nan P. Gordon Jose Cruz Supported Scholarship Robert L. Hoyer Accounting Scholarship Fund Jose A. Cruz Robin A. and Richard M. Jones The Horace J. Landry endowment is used Timothy King to support scholarships for sophomore and Matching Contributors David H. Kirk junior accounting majors and master’s stu- Sharon B. Leib dents in accounting. American Express Samarah A. Linsky Deloitte & Touche Peter H. Nachtwey Jr. $5000+ Ernst & Young Deborah N. and J. Richard Stamm Horace J. Landry General Electric Harold I. Steinberg Goldman Sachs Mr. and Mrs. Albert W. White Jr. $1,000-4,999 KPMG Melissa F. and Glenn A. Aigen PricewaterhouseCoopers $500-999 Laureen M. and Joseph R. Barnes Marc Ben-Ami Donald P. and Sharlene S. Favre This listing includes gifts made to the Lubin School Michael J. Day Richard L. Kohan of Accounting between July 1, 2006, and June 30, Stephen J. Epstein Paul H. Preis 2007. Alumni and friends who wish to make gifts Amy G. and Ben Z. Post should send their contributions to Professor Randy $500-999 Elder, Joseph I. Lubin School of Accounting, Martin $50-499 Walter W. Hemming J. Whitman School of Management, Syracuse Stephen R. Bates John C. Lough Jr. University, Syracuse NY 13244. Brett S. Bushinger Frank & Frances Revoir Foundation

Join the Alumni Council in Carrying on I would like to contribute to the Tracy Halpin Memorial Fund. Tracy Halpin’s Legacy Enclosed find my contribution of $ ______Generosity, kindness, and a special sense of professionalism characterized Name: ______Tracy Halpin’s style of leadership and Address: ______friendship. The Lubin Alumni Council, in conjunction with Beta Alpha Psi, City/State/Zip: ______invites all in the Syracuse University family to extend a similar kindness and E-Mail: ______generosity as together we create a fund Tracy Halpin ’06 BS to honor Tracy’s legacy in perpetuity. (posthumous) Beta Alpha Psi The goal of the Tracy Halpin Memorial Fund is to support an c/o Professor Mitch Franklin annual scholarship to be awarded to outstanding accounting Whitman School students. The fund will honor the remarkable example Tracy set 721 University Ave. while creating educational opportunities for students to come. Syracuse, NY 13244-2450 Martin J. Whitman School of Management Syracuse University 15

Alumni Notes

e’re proud to share the A CPA and business executive with more Liza (Logoza) Levy ’98 BS and her range of careers our than 22 years of experience, Bonaventura husband, Eric, are proud to announce accounting alumni are most recently served as vice president of the birth of a baby boy, Mason Harper involved in and celebrate finance and operations for the United Levy. He was born February 26, 2007, in Wtheir many professional achievements. Nations Association of the United States New York City, and weighed 8 lbs., 2 oz. We invite all Lubin School alumni to of America Inc., the leading grassroots send along career and personal news in foreign policy organization and the lead- David Kirk ’98 BS and his wife, one of two easy ways: 1) Submit a class ing center of policy research on the U.N. Maribeth, announce the birth of their note through the SU/Whitman Online and global issues. Prior to that, he held first child, John (Jack) Harrison Kirk, Community, at Whitman.syr.edu/alumni, senior-level positions in financial opera- born April 21, 2007. Kirk recently left or 2) send your news in an e-mail to the tions of major investment firms, nonprof- the Washington tax office of Deloitte editor of Orange Accounting News and it organizations, and corporations. Tax LLP and joined the tax group of Whitman magazine at magazine@mail. Arnold & Porter LLP, a law firm based in whitman.syr.edu. Brian Kreischer ‘91 BS is an audit Washington. He and his family reside in partner with Frank, Rimerman & Com- Alexandria, Va. Rick Brown ‘81 BS is the CEO of pany LLP, a CPA firm of approximately BeyondPay (www.beyondpay.com), a full 200 people in the San Francisco Bay Mark Frackt ’99 BS and his wife, service payroll company specializing in Area. In December Brian married Sarah Shira, announce the birth of their first the small and middle markets (orga- Maxwell (with several fellow SU alums child, Ellie Rose Frackt, born February nizations with 1 to 1,000 employees). in attendance). They are living in San 15, 2007. Frackt works in the finance BeyondPay offers comprehensive payroll Francisco. department at Sirius Satellite Radio in services including payroll reports, pay- New York City. He and his family live in checks, unlimited direct deposit, Federal Jonathan Hitter ‘92 BS was recently Emerson, N.J. and State tax returns, and all tax remit- elected as a partner at the accounting tances. “BeyondPay understands that firm of Walter & Shuffain PC in Boston. Carolyn Arcand ‘01 BS received a when it comes to payroll, clients want Hitter joined the firm in 2001 and cur- master’s degree in public policy and the highest quality products and unpar- rently leads the firm’s Technology and management from the University of alleled customer service,” writes Brown. Employee Benefit Plan Audit Services. Southern Maine in May 2006. She is “With a 99 percent client retention Walter & Shuffain serves as trusted advi- currently working as the coordinator of rate, BeyondPay has figured out how to sors to privately-held businesses provid- Student Government Operations at the provide both. If you would like to learn ing business and personal consulting, University of Southern Maine. Carolyn if BeyondPay can help you, give me a tax and estate planning, and financial married C. Jason Mallo ’01 BS (A&S) in call (973-586-2272) or send an e-mail to and accounting services. Hitter, his June 2007. [email protected]. Mention that wife, Tanya, and two sons reside in Sha- you’re a Syracuse alum and BeyondPay ron, Mass. Tracy (Dubnoff) Seligman ’02 BS, will provide the first two months of pay- ‘03 MS was recently promoted to senior roll processing free.” Siu Chan-Lui ’95 BS, a CPA, is a vice associate at PricewaterhouseCoopers president in the New York Corporate Tax in Philadelphia. She works mainly on Philip T. Bonaventura ’84 BS was ap- Department of JPMorgan Chase & Co. private company audits and is starting pointed chief financial officer for the Pub- She and her husband, John, are proud to her fourth year with the firm. lic Relations Society of America (PRSA) announce the recent birth of their sec- in June 2007. Based in Manhattan, PRSA ond son, Jordan. The proud big brother Jared Feldesman ‘06 BS joined is the world’s largest organization for is Jonathan. Deloitte & Touche in Stamford, Conn., public relations professionals, with some after graduation, where his focus is on 31,000 members. Bonaventura will over- Thomas Bronleben ‘98 BS, his wife, financial services clients. see the budgeting, financial projections, Nicole, and 3-year-old-daughter, Brittney, and investor portfolio administration, and would like to announce the birth of Steven Gaul ’06 BS is an associate manage liquidity and treasury operations. Jessica Lynn, born March 27. Bronleben with KPMG LLP’s financial services In addition, he will provide strategic is the controller of Metro USA, the free audit practice in New York City, where counsel in the development of new busi- daily paper in New York. He and his his focus is in real estate. ness initiatives and oversee the imple- family live in Mount Sinai, N.Y. mentation of technological advances. 16 Joseph I. Lubin School of Accounting Orange Accounting News September 2007

A flexible fast track to CPA licensure … Whitman’s MS or iMS in Accounting 30 credit program for students with qualifying undergraduate accounting degrees

n one year in the full-time MS, or

n typically 5 trimesters in the iMS, combining the flexibility of distance-learning with one-week campus residencies; with the same curriculum and faculty as the full-time MS

Students can move between the two programs to provide maximum flexibility.

Both options are registered with New York State as 150-hour qualifying licensure programs. Graduates may waive one of the two years of professional auditing experience required for CPA eligibility in New York and many other states.

Many employers offer tuition reimbursement.

To learn more, contact Professor Bill Walsh at [email protected], 315.443.3589, or visit Whitman.syr.edu/imsacc.

ORANGEACCOUNTING NEWS Please send comments and suggestions Joseph I. Lubin School of Accounting related to Orange Accounting News to Randy 721 University Avenue Elder, Director, Joseph I. Lubin School of Syracuse NY 13244-2450 Accounting, at [email protected], (315) 443-3359. Submit alumni notes at whitman.syr.edu/alumni or send an e-mail to [email protected]. Writing and editing: Randy Elder, Amy Mehringer, Maureen Roen, Tracy West Design by Executive Art Principal photography: Douglas Lloyd; Steve Sartori, SU Photo & Imaging