E . J . O U R S O C O L L E G E O F B U S I N E S S

Department ofAccounting

Hello From Sam

My name is Sam Tiras, and I am the new chair of the Department of Accounting. Ijoined the University’s faculty in the fall of 2007 after serving seven years on thefaculty at SUNY, Buffalo. I am excited about the direction our department is headedand look forward to working with Eli Jones, dean of the E. J. Ourso College ofBusiness.

As the department chair, I am dedicated to continuing the excellence of ourcommunity of students, faculty, and staff. Our mission as a department is to produce graduates at alllevels that excel in their pursuits, and our accomplishments speak for themselves. The LSU Center forInternal Auditing, housed in the accounting department, is cited as an international leader in U.S. News& World Report, and 16 internal auditing students have earned the international student high score onthe Certified Internal Auditor’s Exam. Also, teams of LSU accounting students have continued animpressive streak by taking part in the finals of the national PricewaterhouseCoopers’ xAct Competitionfor five consecutive years and winning twice. A key element for our success as a department is ouroutstanding team of faculty members. Our faculty members publish articles in top academic andprofessional journals, and many author textbooks and trade books. Faculty members are also activeparticipants in the accounting profession.

My responsibility as chair is to help the Department of Accounting strive to meet its strategicinitiatives. Our first initiative is to increase research productivity to meet the criteria of the LSU FlagshipAgenda. We also want to grow the masters program and offer more tracks of study for our students.Additionally, we are redesigning the PhD curriculum and establishing reachable performance goals forPhD students. Currently, we have six PhD students, four of whom were recently admitted. Our plan as adepartment is to build up the business network available to our PhD students, which is essential whenthese students seek job opportunities. To support the growth and enhancement of these programs andour other initiatives, our final strategic initiative is increased recruitment of new faculty.

Thank you for your consideration and support for our department’s students and faculty. Our overallgoal as a department is continuous development of our faculty, improvement in our resources, andenhancement of the support we offer our students. With your support and funding, we can move closerto these goals, as well as our initiatives, and advance into the future.

Sincerely,

Samuel TirasDepartment of Accounting ChairAssociate Professor & KPMG LLP Endowed Professor

Diaz is One Busy InstructorFor Michelle Diaz, this past

academic year proved verybusy, especially with herserving as the onlyAccounting InformationSystems instructor. Duringthe spring, Michelle certified

her class as communication intensive (CI),allowing her to spend more time with studentsand assist them with projects, which ultimatelyhelped her become better acquainted with herstudents. In July and September, Michelle traveledto collect data for a new research project dealingwith SOX audits. She also began collecting datawith fellow faculty member Jackie Moffitt for aproject about teaching ethics in accounting.

During this past year, Michelle’s research waspresented at several forums, including the AAAAIS Midyear Meeting, the AAA Audit MidyearMeeting, the Mid-States Research Symposium, theDeloitte/University of Kansas AuditingSymposium, and the Baylor University and NorthCarolina State University Research WorkshopSeries.

Reichelt Recognized forContributions

This past year, Ken Reicheltcontinued to push forward onhis research projects andstarted some new ones.Again, he taught the LSUFlores MBA financialaccounting course and the

undergraduate Intermediate I course. For the firsttime, Ken was awarded the MBA Teacher of theYear Award by the first-year LSU Flores MBA classand was awarded the KPMG Peat MarwickDeveloping Scholar by the Department ofAccounting. For the third time, he was awardedthe Vincent C. Brenner Researcher of the YearAward by the department. Additionally, Kenenjoyed helping facilitate faculty researchworkshops and co-advising thePricewaterhouseCoopers xAct team The xActoKnives, comprised of Jonathan Harb, John Tate,

Tyler Martin, Rachel Humphries, and GordonDavis, with visiting Professor Cathy Liu.

Congratulations to ProfessorCrumbley

Larry Crumbley, a KPMGEndowed Professor at LSU,was presented the 2007 LCPALifetime Achievement inAccounting Education Award,which recognized hisachievements as an

outstanding classroom educator in the field ofaccounting and for promoting and supporting theCPA profession. Larry is the editor of twojournals, the Oil, Gas & Energy Quarterly and theJournal of Forensic Accounting. Larry’s 12th novelThe Big R: A Forensic Accounting Action Adventurereceived its second edition printing last December.He has been published in multiple journals, mostrecently in Forensic Examiner with his article “TheBattle of Accounting Expert Witnesses: JudgesCan Be Harsh” in the this past summer.Additionally, Larry recently attended theAmerican Accounting Association AnnualMeeting, which culminated his successful year-long leadership of the Teaching, Learning &Curriculum (TLC) section. During Larry’s tenure,he increased section membership by more than 20percent to 1,352 members, inaugurated a 28-pageGold Book, raised funds for various awards, andled the by-law campaign to change the name ofthe section. The TLC also established a Hall ofHonor, one of Larry’s initiatives.

Welcome Aboard, Professor WalkerTony Walker is a native son

of North Baton Rouge andhas two children, ages 20 and24. He received hisundergraduate degree fromLSU in 1974 and his JurisDoctorate in 1991. Tony is

also a retired attorney.Before becoming an attorney, Tony worked as

budget analyst for the State of Louisiana Divisionof Administration. To assist him with his jobduties, he took an accounting night course. The

Faculty Spotlight

adjunct instructor was Gil Urban, who became hismentor.

As a member of the faculty, Tony will focus histeachings on government accounting and hopessome of the practices he has learned from Urban,Jerry Baudin, and the late Monday Lowe, whomhe considers to be the creators of a distinguishedadjunct faculty in accounting, will shine throughin his teachings. The Department of Accountingwelcomes Tony Walker to its faculty.

Cheng Becomes PhD ProfessorAgnes Cheng, Ourso

Distinguished Chair inAccounting, has beenappointed as thedepartment’s PhD programdirector. After receiving herPhD in accountancy from the

University of Illinois at Champaign-Urbana in1983, she joined the University of Houston in1986 and taught there for 21 years.

Agnes’ research interests focus on empiricalfinancial accounting research. Her published workis extensive, appearing in such journals as TheAccounting Review, Journal of AccountingResearch, Decision Sciences, Accounting Horizons,Review of Quantitative Finance and Accounting,Review of Economics and Statistics, and theJournal of International Business Studies.Additionally, Agnes has provided editorial serviceto numerous periodicals and serves on theeditorial boards of Management AccountingResearch (MAR), Journal of ContemporaryAccounting and Economics (JCAE), Review ofPacific Basin Financial Markets and Policies

(RPBFMP), and the Journal of InternationalAccounting.

Civically minded, Agnes is very active andserves the business community in various ways.Since 2001, she has been a board member of theHouston Advisory Board of the Asia Society.Agnes has consulted GLO CPAs, LLLP on variousissues related to financial reporting by publiccompanies and doing business in China, and inAugust 2008, she agreed to serve on the board ofFinancial Executive International LouisianaChapter.

Chair of Accounting Receives BestPaper Award

Samuel Tiras, chair of the accountingdepartment at LSU’s E. J. Ourso College ofBusiness, co-authored the winner of the bestpaper award chosen at the 2008 Accounting andFinance Association of Australia and New Zealandand the International Association for AccountingEducation and Research Conference, which washeld July 6-8, 2008. Entitled “’Other Information’as an Explanatory Factor for the Market Reactionsto Firms’ Meeting or Beating Analyst Forecasts,”the paper was written with a former PhD studentof Tiras’, Vincent Chen, who is currently anassistant professor in the Department ofAccounting at the National University ofSingapore. “The paper was chosen over 40 othersin the area of financial accounting and waspresented at the conference,” Tiras said. “Thisconference is Australia and New Zealand’snational event, similar to that of our AmericanAccounting Association’s conference.”

“We are very proud of all the accomplishments of our facultymembers this past year and thank them all for their hard work,dedication, and contributions to the Department of Accountingand the accounting profession as a whole.”

Samuel Tiras, Chair of the Department of Accounting

Workshops and Visiting Speakers tothe LSU Accounting Department –2007/08

This was the most productive year ever forfaculty workshops in the Department ofAccounting. There were a total of nine outsidespeakers, including Ji Chai Lin from the LSUDepartment of Finance, and two representativesfrom Grant Thornton. When Katherine Schipper(former member of the FASB) presented her work,we opened up the workshop to all regionalschools. Faculty and professionals from the LSU

finance department, Tulane,Louisiana Tech, SoutheasternUniversity, University of NewOrleans, Loyola University,and Postlethwaite &Netterville attended theevent. In addition to theoutside speakers, there was

great participation from the Department ofAccounting faculty and doctoral students whopresented their working papers at the internalworkshops. Michelle Diaz, Samuel Tiras, KenRakow, Joseph Legoria, Cathy Liu, AngelaWoodland, Ken Reichelt, and Glenn Sumners tookpart in the series.

The remaining speakers represented a widerange of universities. Larry Abbott from Universityof Memphis presented in the fall. In the spring,Vincent Chen from National University ofSingapore, Richard Houston from University ofAlabama, Kingsley Olibe from Kansas StateUniversity, and Carol Liu from Oakland Universitypresented.

LSU Accounting Department HoldsFraud & Forensic Conference

The E. J. Ourso College of Business Departmentof Accounting hosted the 2008 Fraud & Forensic

AccountingConference on July21 and 22, 2008.Held at the LodCook Alumni Centeron the LSU campus,the conference

featured presentations from a mix of nationallyknown speakers, experienced practitioners, andindustry regulators. Presenters included StevenCasazza of NestlePurina, ChristineChaney ofContinental Airlines,Cynthia Cooper ofCooper ConsultingServices, SteveGoepfert of Continental Airlines, Robert King ofFedEx, Tim Louwers of James Madison University,Walter Pavlo of Etika, LLC, and Mike Thomas ofCrowe Chizek. E. J. Ourso College AssociateProfessor and Fraud & Forensic ConferenceCommittee Chair Jacquelyn Moffit deemed theconference a “great success.”

“The Fifth Annual Fraud & Forensic Conferencewas sold out months in advance,” Moffit said.“We received nothing but positive feedback, andthis year’s attendees were each presented with acomplimentary autographed copy of CynthiaCooper’s book, Extraordinary Circumstances,courtesy of the LSU Center for Internal Auditing.”

Six E. J. Ourso Faculty MembersDubbed “Rainmakers” by LSU

Offering due recognition for their exceptionalproductivity, LSU will celebrated theaccomplishments of 100 outstanding research andcreative faculty during the first annual RainmakersGala, a dinner and award ceremony heldSeptember 10, 2008. The metaphorical“Rainmaker,” a term borrowed from the businessparlance, is one whose special skills and effortsbring welcome resources or respect to anorganization. In the university context, rainmakersare those who are nationally and internationallyrecognized for innovative research and creativescholarship, who compete for external funding atthe highest levels, and who attract and mentorexceptional graduate students. Among this year’sround of award recipients are faculty from alldisciplines on the LSU campus. Vice ChancellorBrooks Keel, head of the Office of Research &Economic Development, solicited nominationsfrom nearly 50 departments, representing 12

Current Department Events

major academic divisions in both scientific andartistic fields. There were six rainmakers from theE. J. Ourso College of Business, one of whom wasthe the Department of Accounting’s very own U.J.LeGrange Endowed Professor in Accounting GlennSumners.

Team of LSU Accounting StudentsReach National Finals

Team Synergy Plus, winner ofPricewaterhouseCoopers’ xAct Competition atLSU, competed as a national finalist in New YorkCity, Jan. 17–18, 2008. This was the fifth

consecutive year that a teamfrom LSU competed as afinalist in the event. TeamSynergy Plus was composedof E. J. Ourso College ofBusiness studentsChristopher Calvin, HeidiGiles, Sarah Miller, Scott

Safron, and Olufunmilayo Soetan. Laura Delaune,an instructor in the E. J. Ourso CollegeDepartment of Accounting, served as facultyadvisor to Team Synergy Plus. The team shared atotal of $16,500 for winning both the localcompetition andadvancing to thenational finals.

The final round of thecompetition includedfive teams from schoolsacross the country thatwere chosen to presenttheir proposals to apanel of PwCexecutives. The fourteams Team SynergyPlus competed againstwere the University ofCalifornia-Berkley,University of Illinois,University of Texas, andWake Forest University.

"I am so proud of theteam,” Delaune said.“They worked really

hard to earn this recognition. In preparation forthe New York competition, we focused on thequestion and answer session following thepresentations. The team had to answerchallenging questions from some of the nationalpartners of PwC." Teams from LSU won thecompetition in 2004 and 2005.

LSU Accounting Professors Lecturein Taiwan

Professors Agnes Cheng and Larry Crumbley ofthe Department of Accounting at LSU’s College ofBusiness presented a series of lectures acrossTaiwan during the month of June. The pair wasinvited by Professor Ping-Yung Chiu of theNational Yunlin University of Science &Technology. Cheng is originally from Taiwan andpresented lectures at several locations titled “TheRole of Accruals in Predicting Future Cash Cows”and “Comprehensive Income and Cost of Capital.”Crumbley offered lectures entitled “Corporategovernance and Compensation” and “Research onForensic Accounting.” As part of their tour, bothprofessors spoke at the Taiwan University ofTechnology and the Chaoyang University ofTechnology.

Can Ethical Awareness Be Taught inthe Classroom? Author: JackieMoffitt, with Co-Authors: MichelleDiaz & Angela Woodland

We are administering surveys to students inACCT 7401, Ethics for Accounting Professionals,to see if we can find any empirical evidence thatethical awareness can be taught in the classroom.In addition, this is to examine whether astandalone course in accounting makes asignificant difference over a standalone coursethat is available in other areas. To that end, wehave administered surveys to the students in DanMarin’s classes from last fall. We alsoadministered surveys to the students in my classlast fall; however, there were only 17 students inmy class. That is an insufficient number for thetests. Therefore, we will gather additional surveysfrom the students in my class this fall and beginworking on the paper next spring.

Market Reaction to AuditorSwitching from Big Four to SmallerAccounting Firms. Author: KenReichelt with Agnes Cheng

After the demise of Arthur Andersen, the publicaccounting industry has witnessed a significantmigration of public clients to second-tier andsmaller third-tier accounting firms. While priorliterature documents that smaller auditors areperceived by the stock market as an inferiorsubstitute to a Big Four auditor, this perceptionappears to have changed in recent years. In thispaper, we analyze market responses to auditorswitching from Big Four to smaller accountingfirms during 2002 to 2006 and break our sampleperiod into two sub-periods.

Our results suggest that companies andinvestors have become more receptive to smalleraudit firms. This is likely due to improvedfinancial reporting quality that resulted fromincreased regulatory scrutiny (e.g., SOX 404implementation) that justified switching to acheaper, smaller accounting firm and due topressure by PCAOB inspections to reduce auditquality differences between the Big Four and Non-Big Four accounting firms. Concerning high

market concentration in the audit profession,regulators have been encouraging companies toselect smaller accounting firms as their auditors.However, companies often worry about theinvestors’ negative perception of using a non-name brand accounting firm. Our results shouldhelp ease such a worry; hence, enhance theregulators’ encouragement of using smallaccounting firms to improve competition.

Professional Fees, Client Riskand SEC Sanctions.Author: Joseph Legoria

This study investigates the relation betweenprofessional service fees and the likelihood acompany will be cited for materially misstatedfinancial statements in an Accounting andAuditing Enforcement Release (AAER) by theSecurities and Exchange Commission. Wedocument a positive association between thelikelihood that a firm will receive an AAER andthe levels of both expected audit fees andunexpected nonaudit fees. Unexpected, orabnormal, audit fees are not related to thelikelihood of an AAER, nor are expected nonauditfees. The findings suggest that auditors ex anteidentified firms that subsequently receive AAERSas having been high risk, and partially but notfully adjusted procedures to compensate for thehigher risk. We also document negativeassociations between both auditor industryspecialization and tenure and the likelihood of anAAER, and a positive association between theexistence of internal control weaknesses and thelikelihood of an AAER.

LSU Accounting Professors ReceiveGrant to Support Research

LSU E. J. Ourso College of Business AccountingProfessors Agnes Cheng and Ken Reichelt servedon a research team led by Kaye Newberry,professor in the University of Houston’s BauerCollege of Business. The team was awarded$25,000 as part of a grant program supported bythe International Association for AccountingEducation and Research and KPMG.

This award was one of only five given by the

Research Highlights

organizations and was the only grant extended toan American research team. The IAAER Researchon Defining, Recognizing and MeasuringLiabilities Grant Program supports research thathelps the International Accounting StandardsBoard make more informed decisions whenidentifying and measuring liabilities.

The subject of the team’s research is “Leverageand Cost of Equity Capital—An Empirical Test ofVarious Definitions of Liability and Fair ValueMeasurement.” Its findings were presentedinitially at a conference in London in 2007 andwill be presented again at two conferences in theU.S. this year.

E. J. Ourso College of BusinessProfessors Receive Council onResearch Stipends

Wei Li, Bulent Unel and George Wilson,assistant professors in LSU’s E. J. Ourso College ofBusiness, have each had their efforts recognizedthis year by LSU’s Council on Research SummerStipend Program. The summer stipend facultydevelopment program provides researchers with$5,000 in financial support to advance theiracademic discipline.

An assistant professor in the Department ofAccounting, Wilson’s research interests includeearnings management, effects of accountingregulations and accounting ethics. Wilson will usethe stipend to help complete a research projectexamining how different investor classes adjustedtheir firm valuations following the implementationof Statement of Financial Accounting Standard142, which ended the systematic amortization ofgoodwill.

“Research support, such as the grant from theLSU Council on Research, is vital in advancing theresearch agendas of both LSU and the E. J. OursoCollege of Business,” Wilson said. “This grant,along with other support from LSU, will give metime away from the classroom this summer tocomplete important research that might otherwisego unfinished.”

Association of Healthcare InternalAuditors Healthcare InternalAuditing Survey

Lydia Lafleur has once again been requested bythe Association of Healthcare Internal Auditors(AHIA) to conduct the 2008 Healthcare InternalAuditing Survey. This survey is a joint effort bythe Association of Healthcare Internal AuditorsInc. and the Louisiana State University Center forInternal Auditing. Lydia participated in the lastfour surveys, which are conducted every twoyears. The survey results are published in NewPerspectives.

Internal Auditing Partnership withthe University of Pretoria

The LSUCIA program has established apartnership with the University of Pretoria inSouth Africa. In its third year, the programincludes both student and faculty exchanges. Thestudent exchange is made possible through anagreement between the University of Pretoria andLSU. Several LSU students have visited SouthAfrica to attend classes, and the LSUCIA programhas been honored to host six South Africanstudents over the last two years. University ofPretoria professors Rudrik duBruyn and PhilnaduBruyn will also assist in the fall 2008instruction. Glenn Sumners visits the University ofPretoria each year to present a course for theSouth African students. In 2007, he wasdesignated as an honorary faculty by theUniversity of Pretoria.

LSUCIA Students Attend IIAInternational Networking andLeadership Conference

In 2007, seven LSUCIA students attended thefirst annual Networking and LeadershipConference sponsored by The Institute of InternalAuditors (IIA) Internal Auditing EducationPartnership (IAEP) program. This event broughttogether internal audit professionals, studentscurrently studying internal auditing, andeducators from universities in the United States,China, Thailand, South Africa and theNetherlands. During the three-day conference,

Center For Internal Auditing

attendeesdiscussed how tocapitalize on thevast opportunitiesfacing one of thehottest professionstoday.

The invitation-only event, whichwas held at theGaylord PalmsResort in CentralFlorida, waslimited to studentsand educators atcollegesparticipating inthe IAEP program.This program works with universities to developand offer internal audit-specific curricula. Theweekend included skill development sessions ontopics such as interviewing, networking, personalimage branding, and internship tips, as well as aneducators’ forum where best practices wereshared. It also allowed potential employers tointeract with some of the best job candidates soonto enter into the profession. LSUCIA studentswere able to network with students and professorsfrom other universities along with representativesfrom employers such as Deloitte, SouthwestAirlines, and Microsoft.

According to Arpit Kumar, Flores MBA, “TheIAEP Conference was an incredibly valuableopportunity to interact with some of the bestemployers out there in the job market. Interactingwith students from different universities and fromdifferent parts of the world was an invaluablelearning experience in a fun, yet concrete,setting.”

Case Studies in Internal AuditErnst & Young sponsored the 2008 Case Studies

in Internal Auditing course, which attractseducators and practitioners to LSU. The coursehad 150 students enrolled, and the participantsenjoyed presentations by guest speakers,including Cynthia Cooper and Baton Rouge MayorKip Holden. Instruction was provided by LSUCIA

staff along with Professor Larry Crumbley of LSUand Jared Soileau from Memphis University.

Prominent Internal Auditor Serveson LSUCIA Advisory Board

Cynthia Cooper is most well-known for herrole in uncovering corporate fraud at World-Com– to date the largest corporate fraud in history.She was named one of Time’s 2002 Persons ofthe Year after detecting and reporting the fraud.Cynthia was inducted into the 2004 AICPA Hallof Fame, and is the first woman to receive thisdistinction. She was also featured as one of 25influential working mothers in the November2004 issue of Working Mother. Cynthia is the2003 recipient of the Accounting ExemplarAward, which is awarded annually to anindividual who has made notable contributionstowards professionalism and ethics inaccounting practice or educations. TheAmerican Accounting Association’s PublicInterest Section recognized her for efforts topromote professionalism and ethics in theaccounting profession. Cynthia is the tenthrecipient of the Accounting Exemplar Award andthe first woman to receive this award. Shepreviously served as the Chief Audit Executivefor MCI until July 2004. Prior to joining MCI,she worked in public accounting in Atlanta,

Georgia for PricewaterhouseCoopers and Deloitte& Touche.

Cynthia received her undergraduate degree inaccounting from Mississippi State University and

her master’s inaccountancy fromthe University ofAlabama. She is aCertified PublicAccountant in thestate of Georgia, aCertified

Information Systems Auditor and a Certified FraudExaminer. Additionally, she is a member of theAmerican Institute of Certified PublicAccountants, the Information Systems Audit andControl Association, The Institute of InternalAuditors, and the Association of Certified FraudExaminers.

Cynthia serves on the LSU Center of InternalAuditing Advisory Board. She speaks to bothstudents and professionals across the country toshare some of the lessons she has learned and toemphasize the importance of strong ethical andmoral leadership. Cynthia resides in Mississippiwith her husband Lance Cooper and their twodaughters.

Thomas Appointed DiversityRecruiter for LSUCIA

The LSU Center for Internal Auditing,recognized as the world leader in auditingeducation, has added as new member to itsalready talented staff with the hiring of Carlos A.Thomas.

Carlos earned his master’s from LSU in 2002,completed the CIA program while at theUniversity, and has been appointed as thediversity recruiter for the program. He received hisundergraduate degree from Vanderbilt Universityin 1992, a master’s from the University ofMemphis in 1997, and his PhD from TennesseeState University. Additionally, he is currentlyenrolled in the E. J. Ourso College of Business’sInformation Systems & Decision Sciences’ PhDProgram.

“Working with the staff of the LSUCIA is an

excellent opportunity for me to convey to BatonRouge’s university communities the professionalpossibilities associated with the internal auditprofession,” Carlos said. “Through a series ofinformational sessions that targetunderrepresented populations, we hope tostrategically increase promotion of the LSUCIA’sprograms.”

“Carlos is the first person I thought of as ourdiversity recruiter,” Glenn Sumners, director of theLSUCIA said. “He will be a good advisor and amentor for all of the students he recruits. Hecompleted the program and understands the typeof students we need.”

LSUCIA Awarded Grant toStrengthen Audit Education

The LSU Center for Internal Auditing received agrant totaling $105,000 toenhance and further developits audit program. The grantmoney will be distributed inincrements of $35,000 overthe next three years by theBoard of the Internal Auditing

Academic Advancement Fund.The IAAAF Board agreed to provide the grant

money in response to a proposal submitted by theLSUCIA targeted at strengthening its InternalAudit Education Partnership program, whichrepresents the University’s dedication to the auditprofession and a commitment to providinginternal audit education.

LSU was approved by the Institute of InternalAuditors in 1985 as a pilot school to develop aninnovative educational program in internalauditing. Currently, the LSUCIA is a center in theInstitute’s IAEP program, and its internal auditprogram is a multidisciplinary program withstudents from over 30 different business and non-business majors.

LSU Accounting Major ReceivesHighest Score on Worldwide Exam

Accounting major Trista Sanders received thehighest student score on the internationalCertified Internal Auditor Exam administered in

November 2007. A native ofIowa, La., Trista graduatedfrom LSU in May 2008 andhas accepted a position withErnst & Young in SanFrancisco, Calif. She is the16th LSU Center for Internal

Auditing student to achieve this designation and,as part of the award, she received an expense-paidtrip to the Institute for Internal AuditorsInternational Conference in San Francisco, Calif.this past summer to be honored.

“All of Trista’s hard work and dedicationresulted in her attainment of this award,” LSUCIADirector Glenn Sumners said. “She serves as arole model for other students.”

Additionally, Donald Gauci, who leads GlobalRisk Services for the Energy Industry at Ernst &Young in the company’s Houston, Texas office,said, “Ernst & Young has experienced greatsuccess hiring students from LSU for its officesaround the country. As an alumnus of the LSUCIAprogram and a member of the E. J. Ourso Collegeof Business Dean's Advisory Council, I appreciatethe tremendous benefits of the program and amvery proud of Trista's accomplishment."

LSU MBA Student Ranks in Top 25on Worldwide Exam

LSU Flores MBA student Scott Gray ranked inthe Top 25 of all candidates–students and practitioners–onthe international CertifiedInternal Auditor Examadministered in November2007. A native of Pearl River,La., Scott graduated from

LSU’s E. J. Ourso College of Business with hisMBA this past May and has already accepted aposition with Deloitte as a consultant in Houston,Texas.

“Scott’s hard work and dedication has paid off,”LSUCIA Director Glenn Sumners said. “Hisemployer will be very pleased that he not onlypassed the CIA Exam, but received an award.”

The accounting profession has seen dramaticchanges in its activities over the last generation.Today’s accountants are vastly different from theirpredecessors of years ago. Increasingly,accountants are called upon to engage in tasksthat go far beyond the scope of what wastraditionally thought of as accounting services.This broadening of scope, brought on by shifts inthe social, technological, financial, and legalenvironment, has been reflected in the 150-hourrequirement to sit for the Certified PublicAccounting Exam. The challenge is to develop intoday’s professional accountant the breadth ofknowledge necessary to cope in today’s complexenvironment.

The Master of Science (MS) in AccountingProgram at Louisiana State University is designedto meet that challenge. With special emphasis onfundamentals and business decision making, theprogram is uniquely qualified to prepare thestudent for a lifetime of continual learning anddevelopment. The program creates a framework inwhich learned concepts can be applied to novelsituations over the duration of a professionalcareer, rather than a checklist of informationwhich may become obsolete in our rapidlychanging business environment.

While the importance of breadth of knowledgeis recognized, a necessary depth of knowledgecannot be ignored. Accordingly, the programallows each student the flexibility to focus upontheir area of interest. Only 15 hours of the 30-hourprogram are required classes. The student canselect the additional 15 hours from otherdepartments within the University. Thedepartment ensures, however, that each classfocuses upon fundamentals, integration ofconcepts, and problem solving. Understandingfundamentals leads to interconnections that allowthe decision maker to see a problem clearly, tokeep in mind the primary objectives, and to fullyevaluate potential solutions and consequences.

Typically, a student will complete the programwithin one calendar year. All of our studentssuccessfully obtain jobs with the largestpercentage finding positions with what is calledthe Big Four accounting firms (Deloitte, Ernst &

MS Program

Young, PricewaterhouseCoopers and KPMG). Ourstudents also find positions with smaller CPAfirms, industry, and in the governmental sector.

Admission and Financial SupportAdmission to the graduate program requires

graduation from an accredited undergraduateinstitution, acceptable grades in all undergraduateand graduate course work, satisfactory scores onthe Graduate Management Admissions Test(GMAT), and three letters of recommendation.Only a limited number of students are admitted tothe program annually. Applicants with the highestcredentials will be given priority for admission.Application for all graduate programs starts withadmission to the LSU Graduate School. The onlineapplication form is available at the GraduateSchool Web site, which can be accessed atwww.gradschool.lsu.edu.

A limited number of assistantships are availablethrough the Department of Accounting. Graduateassistants earn more than $10,000 per year plustuition for a 10-hour work week. These awards arecompetitive and selection is based upon merit.Additionally, a limited number of internships andfellowships are available, which are coordinatedthrough the department.

The University also offers financial assistance tograduate students through a variety of programs.Grants and loans are also available. Informationabout these programs is available on the GraduateSchool Web site.

Questions about the graduate program,applications, and information for both departmentand private assistance may be obtained bycontacting MS Coordinator Nick Apostolou via e-mail at acnicha@lsu.edu or by phone at225-578-6211. For additional information, visitwww.bus.lsu.edu/accounting.

Jonathan BoothIn 2006, Jonathan Booth was the winner of the

Elijah Watts Sells Award as one of the 10candidates who earned the highest score on theCPA Exam nationally. More than 50,000candidates sit for the exam each year. Jonathan is

a senior associate for KPMGand works primarily on theShaw Group auditengagement. Recently, hewas given the honor of beingappointed to the KPMG Pointof View Group, which is a

network of 250 employees throughout the firminvited to provide feedback on planned humanresources programs, initiatives, and processimprovements that will eventually touch the widerKPMG community. Jonathan has also decided tobecome a Chartered Financial Analysis (CFA)charterholder.

As stated by the CFA Institute, “the CharteredFinancial Analyst ® (CFA®) charter has becomeknown as the gold standard of professionalcredentials within the global investmentcommunity. Investors recognize the CFAdesignation as the definitive standard formeasuring competence and integrity in the fieldsof portfolio management and investmentanalysis." In order to achieve this status, a personmust pass three tests that are taken sequentiallyas well as meet specified educational guidelinesand have the required experience. After passingthe Level 1 exam on his first attempt, Jonathanwill take the Level 2 exam this coming year.

“LSU has given me the tools to not only do wellenough on the CPA Exam to earn the Elijah WattSells award but also to work well in a professionthat employs many intelligent people who arevery good at what they do,” Jonathan said.“LSU's environment is very conducive to learningin a way that prepared me for the ‘real world’."

Jonathan feels he learned all of the facts that heneeded to and, more importantly, learned how tothink his way through any problem he was given.

“After my four and a half years at LSU, I had noproblem assimilating into the professional world,thanks to the great teachers and curriculum,”Jonathan said. “Today, when I come across aproblem, I often recall a teacher presenting thesame problem to me and helping me tounderstand how to arrive at the right answer.”

Hello Everyone:

My name is Angelique Marcantel, and I am your current Beta Alpha Psi president. The Phi chapter iscoming into the fall semester fresh off a 1st place win at the Beta Alpha Psi National Conference inSouth Carolina. Six officers—Rachel Scott, Joseph Cefalu, Sarah Miller, Ryan French and I competedagainst 60 other chapters nationwide in a competition titled “Best Practices.” In February, we beat sevenother colleges at the Southeastern Regional Conference in South Carolina, which gained us our spot atthe national level. We had 10 minutes to explain the amazing Financial Literacy project our chapter puton last year. This past year we held five financial literacy seminars for college students and educatedmore than 1,000 students on basic personal finance. We are so proud of all of our members and thetremendous effort they put in all year long to make Financial Literacy a success.

Besides Financial Literacy, Beta Alpha Psi does lots of networking by having local and Big Four firmscome and present at our weekly meetings on campus. We learn about interviewing, résumé building,what you can expect in the work place, etc. Our meetings are also a great way for students to formbonds with other accounting and finance majors with whom they share a lot of their classes.

Every semester our chapter hosts a tournament to promote fellowship among our membership and oursponsor firms. We plan a kickball tournament for the fall and a bowling tournament for the spring. Lastyear, we had 10 Gold Sponsors and for this current year, we have 12 Gold Sponsors to date. We hope tocontinue this trend for years to come.

We are taking extra steps to promote service activities within our chapter. Last semester, our chaptercollected donations and packed 75 care packages for troops in Iraq and Afghanistan. We are currentlyscheduled for a build with Habitat for Humanity this fall and are looking into participating in charityruns, such as the American Heart Association Heart Walk. We will also continue our efforts with theFinancial Literacy program. We are working with City Year Louisiana to provide financial literacytraining to the community, and plan on volunteering in City Year’s service events too. Financial literacyis very dear to our chapter, and we hope to reach many local youth to spread awareness about theimportance of personal finance.

In partnership with the Department of Accounting, we promote and participate in all departmentalevents. Last year, our members helped with Accounting Information Night, the Business CareerReception, and the LCPA Accounting Reception. We are looking forward to helping with andparticipating in these events this year as well. With 54 active members and receiving superior status forthe 2nd year in a row, the PhiChapter of Beta Alpha Psi isexcelling academically, in service,and in leadership. If you have anyquestions about our organizationor like to become a sponsor, pleasefeel free to contact me atamarca1@lsu.edu or visit ournew Web site at www.bapphi.org.

Sincerely,

Angelique MarcantelBAP-Phi Chapter President

Beta Alpha Psi

Undergraduate· Angele Dumestre Memorial Scholarship - $1,000Victoria Sterling

· Association of Government Accountants – BatonRouge Chapter - $500 Mary Clark, CandaceReynolds

· Augusta Goronzy Scholarship - $500 MeganDoiron

· Baton Rouge Chapter of the Society of LouisianaCPAs - $500 Patricia Williams

· Baton Rouge Chapter of ISACA - $500 JaredHenderson

· Cengage Learning - $250 Vicki Rodger· Clarence L. Dunn Endowed Scholarship - $350Teri Byrd

· Crowe Chizek and Company LLC - $1,000Angelique Marcantel

· Deloitte - $1,000 Brittanee Marziale, GraceRichey

· Ernst & Young - $1,000 Kristi Berger, RyanChenevert

· Estelle Z. Kutun Academic Scholarship - $1,250Janet Dipirro

· Faulk & Winkler - $1,000 Elizabeth Backhaus· George Jarvis Williams Scholarship - $750 EmilyMeyers

· Grant Thornton Texan Scholarship - $500 KristyTritz

· H.J. “Monday” Lowe Endowed Scholarship -$500 Daniel Darensbourg

· Hannis T. Bourgeois, LLP - $500 ArinjoyGanguly

· James M. Owen Memorial Scholarship - $1,500Hillary Swallen

· KPMG - $1,000 Leon K. Stiel III· KPMG - $1,000 Daniel Mathews, YingqinZhang

· LaPorte, Sehrt, Romig & Hand - $500 RyanFrench

· Lonnie H. Bearry Scholarship - $500 MarieCenac

Scholarships/GrantsLSU’s E. J. Ourso College of Business’s Department of Accounting held its annual awards banquet

Thursday, April 24, 2008 at the Lod Cook Alumni Center to recognize the achievements of its studentsand faculty. With Samuel Tiras, chair of the Department of Accounting, serving as emcee for the event,nearly 50 students were presented with scholarships in recognition of their academic accomplishments,and students Joshua Clayton and Sabina Tungaraza were each recognized for their honors theses. Thescholarships, faculty awards, and faculty grants are as follows:

· LSU Accounting Faculty Outstanding StudentScholarship - $1,500 Claire Murphy, JasonWelch

· Marathon Oil Corporation Scholarship - $5,000Molly Marino, Sarah Miller

· Postlethwaite & Netterville - $500 Sarah Casey· Postlethwaite & Netterville - $500 BrandonRaborn

· PricewaterhouseCoopers - $3,000 Joseph Cefalu· PricewaterhouseCoopers Scholarship - $2,000Christopher Marks

· Quinn M. Coco Scholarship - $1,000 RyanFrench

· Ryan - $500 Christopher Calvin, Carlen Ensley· Society of Louisiana CPAs - $850 Geralyn Suhor· Society of Louisiana CPAs - $1,250 JaredHenderson

· Society of Louisiana CPAs - $1,250 ChristopherCalvin

· Texas Tiger Tournament Endowed Scholarship -$750 Rachel Scott

· Thomas Brian Phillips Endowed Scholarship -$700 Lauren Alleman

· Your Other Warehouse - $1,000 Eric Kolder

Masters· Baton Rouge Chapter of the Society of Louisiana

CPAs - $500 Trevor Stutts· Becker CPA Review - $2,690 Course CertificateTrevor Stutts

PhD· ExxonMobil - $1,000 Beth Kilgore· Lloyd Morrison Award - $1,000 Joseph Johnston· Society of Louisiana CPAs - $2,000 Li ZhengBrooks

Faculty Awards & Grants· Outstanding Teacher Award - $1,000 BarbaraApostolou

· Vincent C. Brenner Endowed Faculty ResearchScholarship - $1,000 Ken Reichelt

Summer 2008 Awards· KPMG Summer Research Grants - $15,000 eachK.C. Rakow

· LSU Council on Research Summer Stipends -$5,000 George Wilson

Jared Henderson—A Discount TooGood to be Legal

Jared Henderson is a seniorgraduating this December. Heis an outstanding student andwas recently awarded ascholarship from ISACA ofBaton Rouge as well as theLACPA Scholarship. With a

concentration in internal audit, Jared plans onworking as an IT auditor for a firm for severalyears while pursing his PhD. He eventually wantsto become a professor. In spring 2008, Jaredexperienced firsthand how easily fraud can occurin the workplace. When purchasing his books inthe LSU bookstore, Jared was shocked at howexpensive books have become; a total of morethan $600 for this most recent purchase. Thecashier quickly informed Jared about a significantdiscount, about $200, he could receive by payingwith cash. Like any normal college student, Jaredran to the ATM and came back with $400. AsJared counted the money out, the cashier snappedup the money and proceeded to scan a notebook,a pencil, and other various items that rang up to atotal of $8 and change in charges. When theregister opened, the cashier placed $20 in thedrawer and gave Jared about $12 in change beforeplacing the remaining $380 in her pocket and thenbagging his books with the miscellaneous items.With his receipt of the bogus $8 charge, Jared leftthe bookstore, stunned at what had just occurred.

“It was just so shocking to experiencesomething like that firsthand,” Jared said. “I couldnot believe someone would actually do that,especially so blatantly.”

Jared proceeded to speak with a bookstoremanager, who called the police. After Jared’sstatement was taken, the employee was arrested,still in possession of most of the stolen money.

Samantha Henry—Succeeding onthe Track and in the Classroom

Samantha Henry is a junior in the Departmentof Accounting and a prominent athlete on LSU’scampus. Samantha was recognized on the SECAcademic Honor Roll for 2006-2007 and 2007-2008

Student Profiles

and also received the 2006-2007 Athletic Director's Cupfor academic excellence. Inaddition to these honors, shereceived the Arthur Ashe, Jr.Sports Scholars Award in2008, which recognizes

outstanding academic and athletic achievements.She was awarded a certificate of achievement in2008 from the Black Faculty and Caucus at LSUand is a five-time NCAA All-American.

This year on the track, Samantha contributed 14points to help the Lady Tigers become the 2008NCAA Outdoor Track and Field Champions.During the 2008 indoor season, her time of 7.18 inthe 60m was ranked in the Top 5 fastest timesever run by a Lady Tiger. She was also a keymember of the 4x100m relay team that broke thePenn Relays Meet record in Philadelphia this pastApril.

In the summer of 2007, Samantha representedher country, Jamaica, in Sao Paulo, Brazil at thejunior Pan Am Games where she received bronzemedals in the 200m and the 4x400m relay. Thispast summer, Samantha represented her nativecountry in Toluca, Mexico and earned bronze andsilver medals in the 100m and 4x100m relay,respectively. Samantha has managed toaccomplish all of these outstanding recordsthrough her athletic participation at LSU whilestill balancing the academic aspects of theDepartment of Accounting.

Ryan Chenevert—FamilyAtmosphere for Future Leaders

Ryan Chenevert, a senior inthe Department ofAccounting whoseconcentration is externalaudit, is a model leader onLSU’s campus. Ryan is aCollege of Business Senator;

vice chair of the Student Government FinanceCommittee; an appointed member ofProgramming, Support and Initiatives FundingCommittee; the Business College CouncilPresident; and an LSU nominee for presidential

fellowship with the Center for the Study of thePresidency, a non-partisan organization. Ryan hasalso received various scholarships through theyears, such as the Ernst &Young OutstandingJunior Scholarship and the Deloitte OutstandingSophomore Scholarship, and has been namedpreviously as the E. J. Ourso College of BusinessOutstanding Sophomore. Ryan’s involvement oncampus reflects his academics through hisinvolvement in Beta Gamma Sigma, OmicronDelta Kappa Leadership Honor Society, andMortar Board. Upon graduation next spring, Ryanwill either accept a full-time offer with Deloitte orattend law school at LSU.

Given the opportunity to reflect on the pastyears, Ryan offered some advice for tomorrow’sstudents.

“Being involved with Beta Alpha Psi furtheradvanced my political career at LSU,” Ryan said.“The Department of Accounting is like a family—it’s one for all and all for one. There is no doubtthat the support generated from the accountingdepartment and Beta Alpha Psi is the reason I'min the position I'm in today. The department hasprepared me for after graduation by giving me realworld work experience through two internships. Iinterned with Anadarko Petroleum and Deloitte.Both of these internships would not have beenpossible without the resources provided by theDepartment of Accounting and Beta Alpha Psi.”

Ryan French—Giving Thanks forGuidance

As a senior concentrating inaccounting, Ryan French hasbeen a leader in theDepartment of Accounting.Recently, Ryan was awardedthe Laporte, Sehrt, Romig, &Hand Scholarship as well as

the Quinn M. Coco Scholarship. He serves as thetreasurer for Beta Alpha Psi and is the vicepresident of the Business College Council. Thisspring, Ryan will graduate from LSU and plans onattending law school in August. As a graduatingsenior, he feels that LSU's Department ofAccounting was instrumental in showing him the

valuable possibilities and opportunities availablethrough LSU and the E. J. Ourso College.

“I credit the personal and caring advisors of theaccounting department for connecting me withextracurricular activities, friends, and employers,”Ryan said. “The department constantly urged meto reach ever-higher goals and achieve more incollege and beyond.”

Ryan O’Malley—Another LSU andFuture Industry Leader

A senior in the Departmentof Accounting and a genuineleader on LSU’s campus isone way to describe RyanO’Malley. As a past memberof Tigerband and the clarinetsection leader for the fall

2007 Football season, Ryan knows the true spiritof LSU. He is also a former Student GovernmentSenator for the E. J. Ourso College of Business.Currently, Ryan is the executive secretary for theBusiness College Council and an active member ofBeta Alpha Psi. Upon entering LSU, Ryan was notonly awarded the Louisiana TOPS Scholarship,but the LSU Centennial Award—a major LSUcollege scholarship—as well. To qualify for thisaward, a student must be a national meritsemifinalist, a national achievement semifinalist,have a SAT score of 1320 or ACT score of 30 orhigher, and a minimum 3.0 gpa.

“The accounting department has provided mewith a solid foundation for understanding today'scomplex business world, the motivation to tacklechallenging current issues, and a supportivenetwork to ensure my success,” Ryan said.

Ryan has continued his excellence throughouthis years at LSU and in the Department ofAccounting. Upon completion of his summerinternship, Ryan accepted a full-time offer fromDeloitte to start as an audit staff member aftergraduating in May 2009.

Joseph Cefalu—Prepared for theNext Level

Senior Joseph Cefalu is anactive individual in theDepartment of Accountingwho serves as vice presidentof Professional Activities forBeta Alpha Psi. Joseph is alsothe president of the Inter-

Business Organization Council (IBOC), an at-largemember of the Business College Council, and amember of the LSU Foureaux Society. He hasexcelled academically, being named to theChancellor’s Honor Roll, which honors studentwho have received a 4.0 gpa, for five semesters.Additionally, Joseph has received the DeloitteOutstanding Sophomore Award, the LouisianaTOPS Performance Scholarship, and was recentlyawarded the PricewaterhouseCoopers OutstandingJunior Scholarship. At the Department ofAccounting’s Annual Spring Banquet, Joseph wasalso named BAP Outstanding Officer. In May2009, Joseph plans to continue his education byattending law school.

“The accounting department has challenged meacademically and has provided me with the toolsto succeed in my further academic pursuits,”Joseph said.

Faculty DevelopmentAt LSU, the faculty is dedicated to expanding

knowledge through their research and teachingmissions. Through strong research, the faculty isable to bring fresh perspectives and innovativetechniques to the business world and directly intothe classroom. Through their teaching, the facultyis able to help mentor young minds to achievegoals they may never have even considered.Department donors have contributed greatly tofaculty development through summer researchgrants, funding of teaching and research awardsfor excellence, establishment of professorships,and direct funding of data, equipment, and more.Funding opportunities for faculty development arenumerous and vitally important to the growingreputation of the Department of Accounting andLSU. If you would like to discuss ways tocontribute toward faculty development, pleasecontact the LSU Department of Accounting at 225-578-6202.

PhD ProgramThe Accounting Profession is facing a crisis in

which a growing population of ‘baby boomer’professors are retiring, while new entrants intoacademic careers are dwindling. At the same time,public funding for doctoral programs has beenshrinking due to tight state budgets and otherdemands on limited university resources. For theaccounting programs to continue producing highlyeducated and qualified accounting professionals,universities need your help in funding doctoralstudents. As dean of the E. J. Ourso College, EliJones has stated one of his five growth initiativesis doctoral support. LSU has produced over 150PhDs in accounting, which ranks in the Top 10 ofU.S. universities. The Department of Accounting’sability to continue to draw high qualityindividuals into the doctoral program and fundtheir studies depends greatly on the donations ofsponsors. Please consider the future of theaccounting profession and help sponsor a PhD

Donation/Sponsorship Options

student. For more information about supportingour doctoral students, contact Agnes Cheng atacheng@lsu.edu or 225-578-6215.

ScholarshipThe Department of Accounting’s scholarship

program helps draw the best and brighteststudents to Baton Rouge. The continued quality ofthe undergraduate and master’s programs isdependent on the ability to attract these students,and the scholarship program helps assure that theescalating cost of higher education will notprevent these students from achieving their goals.At this year’s Accounting Awards Banquet, weawarded approximately $45,000 in scholarships,thanks to dedicated sponsors. If you would like tohelp a student by providing financial support,please contact the Department of Accounting at225-578-6202.

Beta Alpha PsiThe Phi Chapter of Beta Alpha Psi (BAP), has

been serving LSU and Greater Baton Rougebusiness communities since its inception in 1939and is the 21st oldest chapter in the country. Themembers are declared majors in accounting,finance, or information systems & decisionsciences and have a minimum 3.2 gpa bothoverall and in their major. Currently, BAP has 54active members and is looking forward to a new

group of pledges in the upcoming year.The organization provides its members

professional development, community service,and career placement opportunities throughfunding from organizations like yours. Workingwith Beta Alpha Psi will benefit its members andprovide your organization with an opportunity tomeet some of LSU’s top scholars. If you wouldlike to become a supporter, please contact BetaAlpha Psi’s faculty advisors, Julie Chenier atbachen@lsu.edu or Jessica Rakow atjsrakow@lsu.edu.

Accounting Awards BanquetOur annual Spring Accounting Awards Banquet

celebrates the accomplishments of the LSUAccounting Department’s community of students,faculty, and supporters. Students are recognizedfor their academic achievements throughscholarships and their leadership throughrecognition. We honor faculty members for theirconstant dedication to our students and thedepartment and their vast achievements inresearch. The banquet also provides a venue forcompanies to have hands-on interaction with ouroutstanding students. We always welcome newsponsors for the banquet. To become a sponsor,please contact the Department of Accounting at225-578-6202.

E . J . O U R S O C O L L E G E O F B U S I N E S S

LSU Design Services 208389

Department of AccountingE. J. Ourso College of Business · Louisiana State University3101 Patrick F. Taylor Hall · Baton Rouge, LA 70803

Phone: 225-578-6202 Fax: 225-578-6201E-mail: accounting@lsu.eduWeb: www.bus.lsu.edu/accounting

Contact Information