tull update - Terry College of Business

Tull Update
fall 2011 Volume 11, Number 2
KPMG pledges $400,000 to Tull
K
PMG LLP, the U.S. audit, tax and advisory services firm, has pledged a gift of
$400,000 to the Tull School of Accounting at the University of Georgia’s Terry
College of Business.
In recognition of the pledge, which will be paid over five years, the Tull School of
Accounting will designate a KPMG Teaching Fellow. Funds from the KPMG gift will be
used to support faculty research and teaching, graduate fellowships, student organizations,
and other priorities in the Tull School of Accounting. A portion of the pledge will be
directed to other donor funds at the Terry College.
“KPMG has been a long-term supporter of the Tull School, as well as an outstanding
source of career opportunities for our students,” said Ben Ayers, the school’s director.
“We greatly appreciate KPMG’s investment in the education of our students and the success of our programs. They are true partners in our commitment to accounting excellence.”
“The Tull School is recognized for having one of the best accounting programs in the
country,” said Rand Meyer, KPMG partner and chair of the fundraising campaign for the
Tull School of Accounting. “Many of our most successful professionals at KPMG are the
beneficiaries of a Tull School education. We are pleased to make this pledge to help ensure
the success of future students.”
KPMG LLP, operates from 87 offices with more than 23,000 employees and partners
throughout the United States. KPMG LLP is a member firm of KPMG International, a
Swiss cooperative. For more information, visit www.kpmg.com.
Leonard Leadership Scholars win
$10,000 from Ernst & Young
T
he junior class of Leonard
Leadership Scholars at the
University of Georgia’s Terry
College of Business have won a national
prize in the 2011 “Your World, Your
Vision” campus competition, sponsored by
Ernst & Young LLP.
The scholars’ class will receive $10,000
to implement a student-led community
service proposal that will bring new educational opportunities and better environmental efficiency to the Garnett Ridge
Boys & Girls Club in Athens.
The Ernst & Young competition challenges college groups to submit proposals
for funding community service initiatives
that will influence education, entrepreneurship, or environmental stewardship –
all of which are central to Ernst & Young’s
corporate responsibility efforts. The
competition attracted entries from teams
at more than 40 colleges and universities
nationwide.
In addition to UGA, E&Y announced
two other winning teams from Baruch
College in New York and the University of
Illinois.
The proposal submitted by the Leonard
Leadership Scholars, a highly selective
undergraduate leadership program in the
Terry College, will deepen UGA’s involvement with the Garnett Ridge Boys & Girls
message from
the director
Fall is again upon
us and as I write
this letter, two
important events
are occurring for
the Tull School:
a new semester
is underway and
BEN AYERS
the Tull School is
finalizing its strategic plan for 2011
through 2015. Both events are inherently linked as the strategic plan’s
main purpose is to help shape what
transpires each academic year to
ensure that the School realizes its
vision: to provide the best possible
education for its students, to prepare
them for successful careers, and to
be consistently recognized as one
of the nation’s leading accounting
programs for undergraduate study,
graduate study, and faculty research.
The school’s strategic plan
includes three priorities (maintain and
enhance the quality and reputation
of our MAcc program, maintain and
enhance the quality and reputation
of our BBA program, and develop
research with impact), with specific
objectives and performance measures for each priority. In combination, the performance measures will
provide the school with important
feedback on areas of strength as well
as items that require increased attention. Given the School’s faculty,
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Alumni Spotlight • p. 2
Faculty Spotlight • p. 7
Grad News• p. 10
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ALUMNi Spotlight: Brantley Barrow
B
rantley Barrow is a 1976 summa cum laude graduate with
a BBA in Accounting from the University of Georgia’s
Terry College of Business, having transferred to UGA from
Young Harris College. A native of Columbus, Georgia, Brantley
is the Chairman of the Atlanta-based Hardin Construction
Company, LLC, a 65-year-old privately held company that he purchased along with three longtime Hardin executives in 1993.
After graduation, Brantley joined Arthur Andersen as a staff
accountant, and got his first taste of the construction industry
through his audit assignments in the Small Business Division.
After three years with Anderson and having earned his CPA,
he joined Hardin in 1979 as Controller and began what would
turn out to be a 30+ year career with the company. He was promoted to Vice President in 1985 and to Vice Chairman in 2003.
In 2007, Brantley and his long-term partner, Bill Pinto, became
the principle owners of Hardin, and Brantley assumed the role of
Chairman.
In addition to his responsibility for the strategic direction and
executive management of Hardin, he serves as a member of many
boards including Young Harris College and the University of
Georgia’s Terry College of Business Alumni Association, where he
is Vice Chairman. He has also served on the Board of the Metro
Atlanta Chamber of Commerce, The Buckhead Coalition, Atlanta
Habitat for Humanity, Inc., March of Dimes Georgia Chapter, where
he currently serves as Chairman, and Junior Achievement of Georgia,
Inc. He is a former National President of the Construction Financial
Management Association (CFMA) and former president and founding director of the Georgia Chapter of CFMA. He is a member of
the Leadership Atlanta Class of 2011-12.
On any given Saturday afternoon in the fall, you can find die-hard
fan Brantley and his wife, Sharon (1976 UGA Terry grad), either at
Sanford Stadium or at an away game cheering on his beloved Georgia
Bulldogs. Their son Brant (a 2008 BBA and 2009 MAcc) - following
in his father’s footsteps as an accountant with KPMG in Atlanta - and
daughter Rebecca – (a 2011 Grady College of Journalism Broadcast
News major) working in a new media marketing company, Sparkfly,
are both Bulldogs.
When not following Bulldog sports, Brantley’s second passion is the gentle slopes of the Napa and Sonoma Valleys and the
search for the perfect Cabernet. He and Sharon have made multiple trips to northern California visiting vineyards, always saving
the corks to add to his unusual and ever expanding collection.
Even his daughter’s yellow Lab is named after one of his favorite
wineries…Shafer. And a second puppy will soon be taking up residence in the Barrow household, also named after another favorite
vineyard…Caymus.
Brantley is also an avid student of history, particularly the Civil
War. He enjoys touring Civil War battle fields where his relatives
fought, often taking him to rural Maryland, Virginia, Tennessee
and Georgia. His favorite battlefield, the Battle at Antietam
(Sharpsburg), where Generals Lee and McClellan clashed in one of
the bloodiest battles of the war, teaches powerful lessons on strategic advantage and political benefit.
Whether exploring the golden valleys of the west coast or
2 • Tull School Update
Left to right: Brant, Brantley, Sharon, and Rebecca, with
UGAs mascot.
significant historical sites, Brantley and Sharon always find time
to indulge in their second favorite sport, tennis. Brantley began
playing ALTA in 1977, when the organization was still new in
Atlanta. Over the years, for both ALTA and USTA teams, he has
played in 100-degree heat and even snow, just for bragging rights
and the ubiquitous cache of bag tags.
Brantley Barrow. Successful businessman. Entrepreneur. Loving
family man. Wine aficionado. Historian. Georgia Bulldog.
ONLINE?
visit www.terry.uga.edu/accounting
for the latest Tull School
news and updates
Fall 2011
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Leadership Scholars
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Club. The club serves a
predominantly Hispanic
low-income neighborhood off Jefferson River
Road. The scholars plan
to further this relationship by developing a
community-based recycling plan, expanding
learning opportunities
offered to participants,
covering up gang-related graffiti in the neighborhood, and creating a
soccer league.
“All 32 members of
the Leonard Leadership
Scholars Class of 2012
contributed to the
work being done at
Garnett Ridge Boys &
Girls Club,” said Vikki
Clawson, an instructor in the Institute for
A team of Leonard Scholars, led by David Jett (above),
Leadership Advancement. helped Athens’ Garnett Ridge Boys & Girls Club accomplish its 10-year plan in one year.
“The framework for the
initiative was put together as part of my fall semester course, and these exceptional students ran with it and have
accomplished such great things this year. It is clear to us that the judging panel at Ernst &
Young was thoroughly impressed.”
To help sustain the commitment going forward, the scholars also created a new UGA
student organization to support ongoing mentoring and tutoring at Garnett Ridge.
This spring, the scholars’ class won a Student Organization Achievement & Recognition
(SOAR) Award as the “Outstanding New Organization” on campus from UGA’s Center
for Student Organizations.
“Our project has touched more than 50 kids, 30 families, and 40 college students,
who have been involved throughout the process,” said David Jett, who was chosen
by his fellow scholars to lead the project. “The clubhouse is now organized and more
energy efficient. The understaffed afterschool program now has the manpower and
structure to effectively serve the children. The community now has a usable soccer field.
Environmental awareness has been raised, and the Torch Club we started for middle
school students now meets regularly and has performed several service projects.”
Twelve leadership scholars worked on the team developing the E&Y proposal including
accounting majors Katie Brown, James Collins, Meredith Hightower, Maxwell Mitchell,
Muizz Mullani, Brittany Scrudder, Haley Snyder, and Emily Weinstein.
Other accounting majors in the scholars’ class include Jennifer Fink, Helen Harris, Ali
Hymson, Adam McTish, Teneil Salmon, and Tracy Williams.
The Leonard Leadership Scholars Program is part of the Institute for Leadership
Advancement, a leadership development unit housed in the Terry College of Business. Its
programs stress the importance of principled leadership based on core values and emphasize leadership as a collaborative process and not as a position. The institute’s ultimate aim
is to create a new class of leaders who are well trained and ready for responsibility, committed to stewardship and pursuers of excellence, characterized by integrity and defined
by purpose.
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Entrepreneur
of the Year
Edens & Avant announced earlier
this year that Terry S. Brown (BBA,
‘84), Chief Executive Officer, is the
Ernst & Young Entrepreneur Of The
Year® 2011 Carolinas Award winner.
According to Ernst & Young LLP,
the awards program recognizes
entrepreneurs who demonstrate
excellence and extraordinary success in such areas as innovation,
financial performance and personal
commitment to their businesses and
communities. Brown was selected
as the winner in the real estate category from nearly 100 nominations
across the Carolinas. Awards were
announced at a special gala event
at The Westin Charlotte.
“Leading a company that prides
itself on innovative and community-focused retail development,
I am truly honored to receive the
Entrepreneur Of The Year Award,”
said Brown. “Entrepreneurship,
innovation and connectivity are
three of our basic Company values,
and I am particularly pleased that
these are areas that Ernst & Young
recognizes in their awards criteria.” The Ernst & Young Entrepreneur
Of The Year Program celebrates
its 25th anniversary this year. The
program has expanded to recognize
business leaders in more than 140
cities and more than 50 countries
throughout the world.
With Brown’s win, he is now
eligible for consideration for the
Entrepreneur Of The Year National
Award. Award winners in several
national categories, as well as the
Entrepreneur Of The Year overall National Award winner, will be
announced at the annual awards
gala in Palm Springs, California, in
November.
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J . M .
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“An Amazing Experience”
Halina Maladstova at the FASB
I
graduated from UGA in December
2010 with a MAcc degree in Audit
and bachelor degrees in accounting and Russian. A few short weeks after
graduation I moved to Norwalk, CT to
start my year-long rotation at the Financial
Accounting Standards Board (FASB).
Surprisingly, the biggest immediate adjustment to this new chapter in my life was not
getting over the shock that I was at the
FASB, but acclimating to the weather. One
morning I woke up to 17 inches of snow!
One major advantage of being at the
FASB at this time is the increased pace
of standard-setting. When I started, the
FASB and the International Accounting
Standards Board (IASB) were working on
a number of major convergence projects
that had a deadline of June 30, 2011. The
Boards have since decided not to pursue the
June 30th deadline, but even though things
are not quite as hectic anymore, everyone
still has plenty to do. One of my main
projects in the beginning was Effective
Dates and Transition Methods. The goal
of this joint project between the FASB and
At the FASB, left to right: Sean Nolan and Halina Maladtsova, Tull post-graduate
the IASB was to find the best approach to
FASB interns, with Professor Denny Beresford
adopting the new standards after they were
finalized. I created a database for the FASB’s constituent compeople with whom I have had the opportunity to work. Everyone,
ment letters to this project and participated in additional outreach
from Leslie Seidman, the chairman of the FASB, who came to my
to get user feedback on the project. One of my most exciting, and
cube to say hello when I first started, to the older PTAs who were
anxiety-inducing, assignments was presenting the results of that
finishing their year when the new PTAs arrived, was eager and
outreach at a joint FASB and IASB meeting. An added bonus
willing to help. There truly is an “open-door” policy here that
of this project has been the chance to work with the IASB staff.
nurtures the kind of learning and working environment about
Since I eventually want to work overseas, I see this as a step in the
which someone straight out of college can only dream. I do not
right direction.
think twice about walking into the Assistant Director’s office and
In addition to Effective Dates and Transition Methods, I
asking him a question. My project managers ask for, and value,
have been assigned to Balance Sheet—Offsetting, Technical
my opinions. I cannot imagine a better first “real world” job.
Corrections and Disclosures about an Employer’s Participation
It seems that not so long ago I was packing my things in Athens,
in a Multiemployer Plan projects. Each of these projects has probut I have now been here for over 10 months. I can proudly say that
vided me with an opportunity to improve my technical knowledge
I have gotten used to the milder weather and am not dreading the
(I now know the purpose of ISDA Master Agreements and the
coming of winter. However, I am still in awe at the incredible oppordetailed function of clearinghouses), develop my writing and comtunity that has been given to me. I would like to thank the faculty at
munication skills (I have written memos, helped draft Exposure
the Tull School for nominating me, as well as everyone who contribDrafts and an Accounting Standards Update and presented
uted to the nomination letter that, in my opinion, made me look far
numerous times to the Board) and improve my understanding of
more qualified to be here than I really am. This amazing experience
the due process at the FASB (PTAs are involved in every step of
has already had a tremendous impact on me, and I know it will conthe way, from an Agenda Request to a final standard).
tinue to have an impact on me and my career. My only hope is that
The most valuable part of my experience, however, has been the
the next two months will not pass too quickly.
4 • Tull School Update
Fall 2011
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National Accolades for Recent
and Soon-to-be Tull Graduates
Philip Brudney (BBA ’10 & MAcc
’11) was recently notified that he is a
recipient of the Elijah Watt Sells Award
for 2010. Under the sponsorship of
the American Institute of Certified
Public Accountants, the Elijah Watt
Sells awards program was established
in 1923 to recognize outstanding
candidate performance on the CPA
Examination. Under the current award
criterion, CPA candidates who have
completed all four sections of the
Exam on their first attempt within the
past calendar year are considered. Of
this pool, candidates with the 10 highest cumulative scores are selected as
award recipients.
Tull MAcc student Jason Cole has
received the 2011 Public Company
Accounting Oversight Board (PCAOB)
Scholarship. The scholarship program provides funding to outstanding
undergraduate and graduate students
enrolled in accounting degree programs
to encourage the pursuit of a career in
auditing. The Tull School was selected
as a nominating institution and nominated Jason based on the selection criteria
of an interest and aptitude in accounting and auditing and the demonstration
of high ethical standards. As a PCAOB
Scholarship recipient, Jason receives
$10,000 to cover eligible expenses
for tuition, fees, books, supplies, and
equipment for his graduate studies.
Congratulations Philip and Jason!
At the annual Tull School Spring Honors Banquet in April, the MAcc class generously pledged a gift of $94,750, with 60% of eligible students participating. MAcc
students and Class Gift Leaders Emily McGee, Meghan Dishroom and Wesley
Worth presented the gift on behalf of the MAcc Class of 2011 to Johnie Tucker,
left, (Director of Annual Giving, Terry Development Office) and Ben Ayers (Director
& Earl Davis Chair in Taxation, J. M. Tull School of Accounting).
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Message from Director
continued from page 1
students, and alumni, I am confident that
the quality of our programs and research
as well as the opportunities for our students will continue their upward trend over
the next five years.
This fall, we welcome two new faculty
members to the Tull School, Marianne
Fortuna and Jennifer Rivers. Marianne
is a CPA and has a Bachelor of Science
from Florida State University and a
Masters of Professional Accountancy
from Georgia State University. She will
complete her Executive Doctorate in
Business at Georgia State University
next spring. Marianne previously served
as Vice President of Operations and
Transformation Planning at BellSouth
International, CFO of BellSouth Mobile
Data, Assistant Controller at Cousin
Properties, and as owner/consultant of
42NA Solutions financial consulting firm.
Marianne will teach courses for the Tull
School at the university’s Griffin campus.
Jennifer is also a CPA and has a
Bachelor of Science from Samford
University and a Master of Science
in Accountancy from Wake Forest
University. She previously served as
an instructor at Wake Forest University
and Salem College, an auditor for
PricewaterhouseCoopers, and a financial reporting and analysis manager
for Novant Health, Inc. More recently,
Jennifer served as the controller for
a local business in Athens as well as
the Finance Director for Downtown
Ministries, Inc. Jennifer will teach intermediate financial accounting in our
undergraduate program. Welcome
Marianne and Jennifer!
Finally, it is with great sadness that
I report the passing of Ken Gaver, who
served on our faculty from 1990 through
2005. Ken was a favorite accounting
professor for his students, a prolific
author, a beloved and well-respected
colleague, a loving father and husband,
and one of the most kind and helpful
people that you would ever meet. We
will miss Ken dearly, but are so grateful
that we had the privilege of working with
him. His investment of time and talent in
the lives of our students and faculty will
not be forgotten.
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t h e c a m pa i g n f o r t e r r y
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Tull School
Advisory Board
Yes, I will support the Tull School of Accounting Excellence Fund at the
University of Georgia. Please accept my annual fund gift of $___________
to benefit the Tull School of Accounting Excellence Fund.*
Mr. John A. Davis
Member, Dixon Hughes Goodman
Please indicate whether your company will match this gift:
Mr. William W. Douglas, III
CFO, Coca-Cola Enterprises Inc.
I would like information on making a gift via marketable securities:
Mr. Will Herman
Partner, Deloitte & Touche
Mr. Kenneth G. Jackson
CFO, Shaw Industries
Mr. Timothy A. Keadle
Partner, Porter Keadle Moore
Mr. Tim Kemper
Principal, Reznick Group
Mr. William C. Lankford Jr.
Partner, Moore Stephens Tiller
Mr. Rand M. Meyer
Partner, KPMG
Mr. B. Keith Ruth
Partner, PricewaterhouseCoopers
Mr. John F. Schraudenbach
Partner, Ernst & Young
Mr. Charles W. Schulze
Partner, Elliott Davis
Mr. Gerald A. Shirk
Chief Accounting Officer
Georgia-Pacific
yes
yes
no
no
Donor’s Signature
Donor’s Name (please print)
Address
City State Zip
Please make all checks payable to the
UGA Foundation c/o
the Tull School at the University of Georgia Return to: Penny Morrison-Ross
Office of Development
Terry College of Business Phone: (706) 583-0874
The University of Georgia
Fax: (706) 583-0730
Brooks Hall
Athens, GA 30602
I ( wish do not wish) for my name to appear in UGA/Terry College of
Business publications identifying me as a donor. I would like my name
to appear as:
(you may include your spouse for recognition purposes)
*All funds given to the Tull School of Accounting count towards the
Terry College of Business Dean’s Circle of Giving.
6 • Tull School Update
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Bill Douglas Honored
with Alumni Award
T
ull alumnus and CFO of Coca–Cola Enterprises, Bill
Douglas, was among those honored by the University of
Georgia’s Terry College of Business at its 2011 Alumni
Awards and Gala on Saturday, April 16, at the InterContinental
Hotel in Buckhead.
Douglas (BBA ‘83) was chosen for his career achievements and
community service to receive the college’s Distinguished Alumni
Award. The Terry College has been presenting its alumni awards
since 1964. The college’s Alumni Board of Directors hosts the
spring gala, which in the past four years has raised $1 million for
the college.
Executive vice president and chief financial officer of Coca-Cola
Enterprises Inc., Douglas is a 25–year veteran of the Coca–Cola
system with extensive international experience. He joined Coca–
Cola Enterprises in 2004, when he was appointed vice president,
controller and principal accounting officer. He was named CFO
in 2005. Douglas and his team were integral in the successful sale
of CCE’s North American business to the Coca–Cola Co. and the
purchase of the Coca-Cola Co.’s Norwegian and Swedish bottling
operations in October 2010.
Prior to joining Coca-Cola Enterprises, he served as CFO of
Coca-Cola HBC, one of the largest bottlers of non–alcoholic
beverages in Europe, whose territory encompasses 28 countries.
Before joining Coca–Cola, he worked with Ernst & Whinney, a
predecessor to Ernst & Young.
Douglas is a trustee of the University of Georgia Foundation
and a member of the J.M. Tull School of Accounting Advisory
Board.
The Terry College of Business Alumni Board of Directors
selects the alumni award winners from nominations submitted to
the Board. More information on the awards criteria and nomination process is available at www.terry.uga.edu/alumni/awards.
(L-R) Bill Douglas with other Terry Alumni Award winners MaiLise Nguyen and Andy Ghertner, and Dean Robert S
­ umichrast.
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Faculty Spotlight:
Margaret Christ
Margaret Christ is currently in her fourth year at UGA and
thinks that it’s great to be a Georgia Bulldog. That’s not the
easiest thing for this LSU alum to admit, but the talented and
committed faculty and hardworking students in the Tull School
make this her dream job.
As a native of Baton Rouge, Louisiana, attending LSU for her
undergraduate degree was the natural choice for Margaret. While
pursuing her BS in Accounting, she
enrolled in the LSU Center for Internal
Audit program, which focused her studies on the internal audit profession,
rather than traditional external auditing.
Upon graduation, Margaret worked
as a risk consultant with Andersen in
New Orleans. During her three years
with Andersen, Margaret traveled
all over the U.S. and even overseas
performing internal audits for companies in the energy services, waste
management, hospitality, manufacturing and financial industries.
But everything changed in the fall of 2002 when Enron, one of
Andersen’s biggest clients, announced that it was restating earnings. Margaret vividly remembers talking to her dad on that day,
telling him, “Things will probably change at Andersen – Enron is a
BIG client! I bet there will be some belt tightening…” Little did she
know that in just a few months the entire company would close
and her career path would change dramatically.
In the year after Andersen closed, Margaret moved to
Houston to work for Protiviti, a risk consulting firm started by
ex-Andersen partners. But she soon decided it was time for
a real change and was admitted into the PhD program at the
University of Texas at Austin. The fall of Enron and Andersen
and the control failures that caused it shaped Margaret’s
research interests as she pursued her PhD. Specifically, her
research focuses on internal control systems and their effects
on employees, management and organizational outcomes.
Margaret’s research on control systems and work experience
as an internal auditor come in handy in the classroom. She has
been teaching Systems I for four years and incorporates a variety
of cases, projects and guest speakers throughout the semester.
Students generally find the course to be challenging and that the
projects require them to think on their feet and work outside of
their comfort zone. However, Margaret often receives emails from
graduates remarking that those projects turned out to be great
preparation for their jobs and that they are regularly using the
computer programs on the job. This is definitely one of the most
rewarding aspects of being a professor!
This year, Margaret and her husband of ten years, John, are
also keeping busy as they learn to be new parents. They welcomed Adam Philip Christ to the family in February and are head
over heels in love with him. They are really enjoying watching as
his personality emerges and he learns to move around and play!
Tull School Update • 7
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In August, Ben Ayers presented his paper, “Does Tax
Deferral Enhance Firm Value?” (co-authored with Stacie
Laplante and Casey Schwab), at the University of Texas at
Austin. Ben was also recently invited to continue to serve on
the editorial board of Accounting Horizons for a three-year
term beginning in 2012. Ben also currently serves on the editorial board of the Accounting Review.
Linda Bamber is serving on the 2011-2012 Outstanding
Accounting Educator Award Committee of the AAA.
Linda’s paper, “Trading Volume
around Earnings Announcements
and Other Financial Reports:
Theory, Research Design, Empirical
Evidence, and Directions for Future
Research,” coauthored with Orie
Barron (Penn State) and Doug
Stevens (Florida State) has been accepted for publication in
Contemporary Accounting Research.
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and Yen Tong (Nanyang Technological University)] has been
accepted to the Contemporary Accounting Research conference.
Review of Financial Studies has accepted John
Campbell’s paper, “Financing constraints and the cost of
capital: Evidence from the funding of corporate pension
plans” [co-authored with Dan Dhaliwal (Arizona) and Bill
Schwartz, Jr. (Oklahoma State)].
Tina Carpenter has been invited
to present “International Financial
Reporting Standards and Aggressive
Reporting: An Investigation of
Proposed Auditor Judgment
Guidance,” co-authored with Michael
Bamber and Ann Backof, doctoral student at UGA, in Amsterdam, Netherlands next March.
Faculty & Staff
activities
In February, Denny Beresford spoke to KPMG/National
Association of Corporate Directors sponsored Annual Audit
Committee Issues Conferences in Miami and Phoenix on
current accounting issues.
In March, he participated in a panel discussion on “An
effective relationship between the audit committee and the
chief audit executive” at the Institute of Internal Auditors’
General Audit Management Conference in Las Vegas.
Denny interviewed in April for the Securities and
Exchange Commission Historical Society Oral History’s
Virtual Museum and Archive on the History of Financial
Regulation.
He spoke in May at the inauguration of an Audit
Committee Network for Mexican Companies in Mexico City
sponsored by Ernst & Young.
In June, Denny participated in a panel discussion on
“Reducing fraud risk through communications and calibration” at the ACIPA National Audit Committee Forum in
Washington, DC.
Also that month, he served as the Welcoming Speaker
and participated in an Audit Committee Panel at the Terry
College Directors’ College and spoke to the Finance
Department Staff of Turner Broadcasting on current accounting and corporate governance matters, both in Atlanta.
Denny moderated a Panel on Current Developments in
Accounting Standards Setting at the University of Southern
California SEC & Financial Reporting Institute Conference in
June in Pasadena, California.
In September, Denny participated in a Panel on Current
Corporate Governance Matters at the Ernst & Young Global
Board and Governance Forum in New York City.
Andy Call’s paper, “Are analysts’ cash flow forecasts
naive extensions of their own earnings forecasts” [coauthored with Shuping Chen (University of Texas at Austin)
8 • Tull School Update
Laura Clark, earned the University of Georgia Certificate
in Academic Advising in August. This certificate is awarded
to UGA advisors who complete six professional development
courses (two core competency courses and four electives)
taught by the Franklin College of Arts and Sciences through
UGA Training and Development. Courses include issues
such as excellence in academic advising, technology training, Career Center connections, legal issues, and assisting
students in distress.
Mark Dawkins is currently serving the second year of
a three-year term as an American Accounting Association
Council Member at Large. Additionally, he serves on the
Georgia Society of CPAs Council, as well as the GSCPA
Educational Foundation.
This summer Dawkins presented “The Realities of Getting
Published, Part III: A Focus on Refereed and Non-Refereed
Journal Articles” for the McKnight Summer Research &
Writing Institute in Tampa and “Is S&P’s Core Earnings
More Value Relevant Than GAAP Earnings?” at American
Accounting Association Annual Meeting in Denver.
In November, Dawkins will present “The Association
Between Academic Pedigree and Research Article
Publications in the Top-6 Accounting Journals” at the
American Accounting Association Diversity Section Meeting,
Ft. Lauderdale, FL.
Auditing: A Journal of Practice and Theory has accepted
for publication two papers by Jacqueline Hammersley:
“How Do Audit Seniors Respond to Heightened Fraud Risk?”
(co-authored with Karla Johnstone at the University of
Wisconsin-Madison and Kathryn Kadous at Emory), and her
sole-authored paper titled “A Review and Model of Auditor
Judgments in Fraud-Related Planning Tasks.”
continued on page 9
Fall 2011
J . M .
T u l l
S c h o o l
o f
a c c o u n t i n g
—
t e r r y
Remembering Dr. Kenneth Gaver
D
r. Kenneth Gaver passed away on June 16, 2011, three days after suffering a
cerebral hemorrhage. Ken was on the faculty of the Tull School for fifteen
years, arriving in Athens in June 1990 and retiring in May 2005. Before UGA,
Ken taught for three years at the University of Oregon, one year at the University of
Arizona, six years at Montana State University, three years at Vanderbilt University, and
six years at the University of Rochester. Ken was born
in Columbus, Ohio, raised in Aiken, South Carolina,
stationed with the U. S. Army in Wurzburg, Germany,
educated in Montreal, Quebec, and graduated with a
Ph.D. in economics from Carnegie Mellon University
in Pittsburg, Pennsylvania.
Early in his career, Ken taught quantitative subjects:
econometrics, statistics, operations research. He had
a knack for making dry, technical material seem clear,
even humorous. Imagine George Carlin teaching statistics and you will have a good idea of what it was
like to be in Ken’s class. He bequeathed many unique
expressions to his students and his students’ students:
the mental hernia, the burning issue, and others that
should not be repeated. But they are repeated, and
often, by students who are now tenured professors,
CEOs, legal counsels, and stay-at-home dads. They
may not all remember the properties of the normal distribution, or how to determine
degrees of freedom, but they remember Ken.
Ken gave up tenure at Montana State University to follow Jenny, the love of his life,
to her first tenure-track job at the University of Oregon. He took every doctoral seminar
in finance and accounting that he could at Oregon, realizing that his technical prowess
would make him a fearsome empirical researcher. And so he was. But, at heart, Ken was
a teacher. At Georgia, he taught Acct 2101H, financial accounting for honors students.
Ken’s enthusiasm for the subject inspired many of his students to become accounting
majors. He received the Lothar Tresp Outstanding Teaching Award many times and ultimately the Lothar Tresp Honoratus Award upon his retirement. Ken was also a beloved
mentor to many doctoral students. As a dissertation advisor, he knew when students
needed handholding and when they needed a kick in the pants, and acted according. His
students were amply equipped with the skills to appreciate the scientific method, question established dogma, and program elegantly in SAS. His door was open to everyone:
a freshman struggling with the allowance for doubtful accounts, a doctoral student panicking because her t-statistics were the wrong sign, a faculty member with econometricsanxiety. Ken spoke his mind and didn’t worry about people’s opinion of him. Most left his
office with a new perspective and no hard feelings.
Those who knew Ken professionally might not be aware that he had active interests
outside of academia. He loved music, especially bluegrass, but he also played the French
horn with the Augusta symphony. He loved physical labor and had the confidence to take
on projects of outrageous scope. Once he single-handedly terraced the back yard, laid a
1,000 square foot paver patio, and turned a Bobcat upside down in the process. Another
time he completely rewired his pickup truck for automatic doors and locks. He loved food:
his apple pies were works of art; he made chicken cacciatore that you’d choose for your last
meal, he owned and ran a delicatessen in Montreal. He loved collecting and cataloging
items: rare coins, proxy statements, Olympic pins, crossword puzzles. He was an avid outdoorsman, skier, fisherman, and hiker. He was on alert and running a two-ton communications truck in the signal corps during the Cuban Missile Crisis. That crisis was averted.
Ken is survived by Jenny, his wife of thirty years, his son John, and his daughter Anne.
Jenny is the holder of the James Don Edwards Chair in Corporate Accounting Policy in
the Tull School.
Fall 2011 c o l l e g e
o f
b u s i n e ss
Faculty & Staff
continued from page 8
Hammersley presented her paper
(co-authored with Tull doctoral student
Emily Griffith and Kathryn Kadous of
Emory) titled “Auditing Estimates: A Task
Analysis and Propositions for Improving
Auditor Performance” at Arizona State
University in May and at University of
South Florida in September.
Three of Hammersley’s other papers
were cited in the Security and Exchange
Commission’s report published in April
titled “Study and recommendations on
Section 404(b) of the Sarbanes-Oxley
Act of 2002 for issuers with public float
between $75 and $250 million,” which
studied whether certain public companies should continue to be required to
have an audit of their internal control
systems.
Stacie Laplante had her paper,
“The effect of foreign reinvestment
and financial reporting incentives on
cross-jurisdictional income shifting” [coauthored with Ken Klassen (University
of Waterloo)] accepted for publication in
Contemporary Accounting Research.
Santhosh Ramalingegowda’s paper
“The effect of investment horizon on
institutional investors’ incentives to
acquire private information on long term
earnings” (co-authored with Bin Ke and
Yong Yu) has been accepted for publication in the Journal of Accounting and
Economics.
In September, Casey Schwab presented his paper, “Does Tax Deferral
Enhance Firm Value?” (co-authored with
Ben Ayers and Stacie Laplante), at the
Illinois Tax Symposium.
ONLINE?
visit
terry.uga.edu/accounting
for the latest Tull School
news and updates
Tull School Update • 9
J . M .
T u l l
S c h o o l
o f
a c c o u n t i n g
—
t e r r y
c o l l e g e
o f
b u s i n e ss
News About Graduates
In July, Frazier and Deeter promoted
Scott Schrack (BBA ’04 & MAcc ’05) to
Audit Manager. Also that month, Patrick
Crouch (MAcc ‘07) and Derek Schmid
(BBA ’04) were promoted to Audit
Supervisor, and AJ Hurst (BBA ’08 &
MAcc ’09) and Brent Ulrich (BBA ’08) to
Audit Senior.
Several UGA grads at Frazier and Deeter
were married this summer: Patrick
Crouch to Ashley Conner (BBA ’06,
MAcc ’07), AJ Hurst to Meghan Kelly,
Ricardo Zertuche (BBA ’01) to Adrienne
DeMarais and Michael Neyhart (BBA
’08) to Kate Foster.
Tim Keadle (BBA ‘78) of PKM was
appointed to Vice President of the UGA
Alumni Association after having served six
years as its Treasurer.
And more good news from PKM:
Stephen Alsobrook (BBA & MAcc ’09)
married Diana Constantiniu, also a UGA
graduate (BA in French and Linguistics).
Stephen became a CPA in July ’11.
Lisa Ashley (BBA ’08 & MAcc ’09)
is engaged to Michael Flynn, a ’11
UGA graduate with a BSFCS in Family
Financial Planning and Consumer
Economics. The wedding is scheduled for
this November.
John Erwin (BBA & MAcc ’09) is
engaged to Sarah Thomas, who graduated
from UGA in ’09 with a Bachelor of Arts.
They plan to marry in May of next year.
rejoined PKM earlier this year.
PKM also promoted James Rumph (BBA
’03) to Manager in January of this year.
Eleanor Ball (BBA ’02) has been promoted to Audit Manager by the Reznick
Group.
The Reznick Group has also promoted
the following individuals to Audit Senior
Associate: Chris Bidwell (BBA & MAcc
‘08), Scott Reeves (BBA ’08), Drew
Weiland (BBA & MAcc ’09), Mindy
Wheelock (BBA ’08 & MAcc ’09), and
Jean Yu (BBA ’09). Yu also passed the
CPA exam this year, as did Frank Rambo
Mann (BBA ’09 & MAcc ’10).
Greg Gillins (BBA & MAcc ’09) and
his wife, Libby, welcomed a new daughter, Harper Elizabeth, on July 24. Greg
continued on page 11
MAcc Equestrian Alison Slutsky
Balances School and Riding
C
urrent MAcc student Alison Slutsky is now an alum of
UGAs Varsity Equestrian Team, but riding is still a big
part of her life, and being an active rider continues to
both challenge and complement her studies.
Originally from St. Petersburg, Florida, Alison began taking
riding lessons when she was five. When she
was nine, her family moved to Covington,
Georgia where they bought a small horse
farm. Alison began competing shortly
thereafter. “Riding on UGA’s Equestrian
Team had been a goal of mine since about
ninth grade,” she says.
Alison’s hard work and dedication to the
sport paid off. Throughout high school she
consistently placed well in the 3’6” medal
classes at hunter/jumper shows, catching
the eye of recruiters and securing her a spot
on UGAs team.
Although she knew long before coming to UGA she wanted to ride for the
team, she didn’t know she wanted to study
accounting, and was originally thinking of
pursuing a pharmacy degree. “After taking
chemistry and ruling out going to pharmacy school, I knew I wanted to work in busi10 • Tull School Update
ness. Someone once told me accounting was the language of business, but I knew nothing about what accountants did. After my
first accounting class, I knew that was what I wanted to study.”
Alison admits that being an NCAA athlete while going
through the rigorous undergraduate accounting program was difficult. “Luckily the coaches really emphasized putting school first and they were
always willing to help me out when I had
tests conflicting with practices or just simply needed extra time to study.”
Being on the team, as well as riding in
general, have helped Alison develop tools
crucial to her success in school and ultimately in her career. “It really helped me
learn how to manage my time and be organized. It was also a different atmosphere
having riding be a ‘team’ sport. Growing
up, riding was generally an individual
sport. It was fun to be part of a team and
all work together. Riding and competing
really taught me the meaning of working
hard towards accomplishing goals. I really
learned how accomplishments come from
hard work and dedication.”
Fall 2011
J . M .
T u l l
S c h o o l
o f
Graduates
continued from page 10
Dr. Lance Bolton (BBA ’88), current
president of Northeastern Junior College,
has been appointed president of Pikes Peak
Community College in Colorado Springs,
Colorado.
Innotrac Corporation announced the
appointment of James (Jim) W. Childs
(BBA ’90) as a member of the Board of
Directors, effective August 11, 2011.
Innotrac, founded in 1984 and based near
Atlanta, is a full-service fulfillment and
logistics provider serving enterprise clients
and world-class brands.
a c c o u n t i n g
—
t e r r y
Ed Heys (BBA ’83), who has been the
deputy managing partner at Deloitte LLP,
has taken over as office managing partner
for Deloitte’s operations in Atlanta and
Birmingham. Heys will continue his community involvement, which includes his
upcoming role as chairman of the Georgia
Chamber of Commerce beginning in
January.
Deron Stancil (BBA ‘91 & MAcc ‘93),
CPA, has been admitted as a shareholder
at Top 100 Firm Elliott Davis LLC. A
member of the firm’s tax practice for
more than 17 years, Stancil recently relocated from the Greenville, S.C., office to
the Augusta office to serve clients in the
c o l l e g e
o f
b u s i n e ss
Central Savannah River Area.
“With a depth of tax planning and
compliance experience, Deron is accomplished in the areas of trust, gift and
estate taxation, as well as not-for-profit
tax engagements,” said Bill Woodward,
managing shareholder for Elliott Davis’
Augusta office. “His technical expertise
and leadership will be tremendous assets
both internally and externally.”
Haroon Tekrawala (BBA ’11 & MAcc
’11) passed all four sections of the CPA
Exam on his first attempt.
What’s News With You?
What are you doing and what’s “news” with you? Please take a few moments to fill in this form and
return to us so we can keep your classmates informed of your activities. You may attach a separate sheet
with more information. Or you can email: lclark@uga.edu.
(Note to married female graduates, please be sure to include your maiden name!)
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Fall 2011 Tull School Update • 11
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J . M .
T u l l
S c h o o l
o f
a c c o u n t i n g
—
t e r r y
c o l l e g e
o f
b u s i n e ss
J.M. Tull School
of
Accounting
Tull School Update
Robert T. Sumichrast, Dean
Ben Ayers, Director
Tull School of Accounting
Karen Czarick, Editor
Laura Clark, Co-Editor
The University of Georgia
Brooks Hall • Athens, Georgia
(706) 542-1616
www.terry.uga.edu/accounting
email: lclark@uga.edu
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