Graduate Programs Connect Students to Careers in Audit, Tax and Accounting Practice

Located in the heart of Chicago’s financial and business community, DePaul’s School of Accountancy & MIS is in a unique position to connect students with prominent corporate executives, an extensive alumni network and top-performing companies in various industries and firms.

“DePaul’s business school is steps away from many major U.S. corporations and local companies,” says Kate Dalin, assistant director of employer relations at the school. “So we have the benefit of inviting employers to engage with our students in a number of different ways: in the classroom, in casual networking mingling events and even by bringing the students to their firms. In turn, our students get to see what accounting looks like in action. Most alumni stay nearby and are great representatives of their employers. They get involved with mentorship and, more importantly, hiring.”

While the undergraduate program prepares students for success in entry-level accounting careers, the school’s specialized master’s programs—the Master of Science in Accountancy (MSA), Master of Science in Taxation (MST) and newly renamed Master of Science in Audit and Advisory Services (MSAA)—are creating the next generation of problem solvers.

“Students gain a practical education that empowers them to be professionals who can turn theory into action,” says Ray Whittington, director of the School of Accountancy & MIS. “Our master’s students are prepared with the latest skills, knowledge and real-world experience to lead the business world.”

MS IN AUDIT AND ADVISORY SERVICES PROVIDES A REAL-WORLD EDUCATION

The Master of Science in Audit and Advisory Services (MSAA) is one of the most distinctive graduate accounting programs in the country, says Cindy Durtschi, associate professor and director of the program. With its focus on internal audit, forensic accounting to detect fraud, information systems and data analytics, students are gaining unique skills to meet the demands of today’s accounting profession. The degree curriculum takes a deep dive into audit and advisory services, and requires students to have an accounting undergraduate degree.

“What we’re doing is unique,” says Durtschi. “The whole curriculum has been designed to be responsive to the needs of employers. We are preparing students for their careers in audit and advisory services. It eliminates unnecessary technical training in a master’s of accountancy program since students already possess the accounting theory from their prior degrees, making them ready for new applied real-world concepts.”

Students are trained through hands-on experience with audit tools, visualization techniques and data analytics. The program also uses forensic accounting to help students master what questions to ask about financial data and how to interpret the findings. Students gain advanced, practical skills for workplace application by learning in a case-based setting with real-life examples and working with audit systems used by accounting professionals. Students also visit major firms in Chicago to see internal controls and procedures firsthand and engage with chief internal auditors about audit processes.

William Fox, a tax associate at PwC, is expected to graduate with his MSAA Autumn 2017. He originally decided to attend DePaul because of its mission, commitment to educating underserved students and student development focus, which aligned with Fox’s previous work with Teach For America, a nonprofit group that enlists people to teach in low-income schools. What impressed him at DePaul was the curriculum, education quality and opportunities.

“The MSAA was the ideal extension to my undergraduate accounting degree,” says Fox. “In this program, I became immersed in forensic and auditing concepts. The professors’ passion for their content created a strong interest in forensic accounting and inspired me to pursue a CFE (Certified Fraud Examiner) certification.”

The program’s faculty have the knowledge, scholarship and expertise to train students in the specific audit skills that firms are seeking when they recruit DePaul graduates. Courses are taught by widely published and tenured faculty members who have national reputations. Adjunct faculty members contribute to courses as well, bringing into the classroom their expertise in internal control, audit and forensic accounting. For example, Principles of Forensic Accounting, the first in a sequence of required courses, is taught by associate professor Kelly Richmond Pope as well as adjunct instructor Wayne Jakalski, assistant Cook County state’s attorney. The course, Internal Auditing, Corporate Governance and Internal Control, is instructed by Michael Trendell, former vice president of internal audit for a regional hospital system. David Baker, director of risk management at Vedder Price, supports Advanced Information Technology Auditing, drawing from his experience in audit management and IT business processes.

“The purpose of the MSAA degree is to look beyond the traditional skillset of an accounting major and toward career-focused skills,” says Durtschi. “We are teaching our students about being continuous learners and having the adaptability and mindset to exhibit independent judgment, drawing from more than one bucket of knowledge.”

Fox agrees, praising the degree for preparing him “to make decisions that have a real impact on clients. I feel that the program set me up for success and will set up the firms for success.”

MSA PREPS NON-ACCOUNTING MAJORS FOR THE CPA EXAM

Another of the school’s specialized master’s degrees, the nationally ranked Master of Science in Accountancy (MSA), is designed to prepare students without an accounting background or degree for a successful career in accounting. Through the program’s challenging and integrated sequence of courses, students become proficient in topics that are tested on the CPA exam and are relevant to the work of a professional accountant.

“The most distinguishing factor of the MSA at DePaul is the career opportunities in Chicago,” says Associate Professor John Ahern, who teaches in the program. “Our location cannot be matched, and our relationships with the firms are our biggest advantage. DePaul alumni for the most part stay locally in Chicago. We build off of the DePaul mission of giving back and often work with our industry contacts to hire our students.”

Huan Song (MSA ’17), an international student from China, graduated from the program last spring and was recently hired as an IT risk staff associate at Ernst & Young (EY). She feels that earning her MSA at DePaul was one of the best decisions she has ever made.

Another distinguishing factor of the MSA is that the entire degree can be taken online. “I immensely enjoyed the flexibility of online classes, which allowed me to progress more quickly toward earning my degree and becoming CPA eligible by minimizing both commuting time and scheduling conflicts,” reflects Megan Rullo, an online MSA student. “The format of DePaul’s online courses allowed me to learn at my own pace and adapt my focus based on personal strengths and weaknesses. Additionally, professors are able to provide more personally focused attention since most interaction is one-on-one via email.”

The MSA prepares students for a range of career paths, including positions in public and corporate accounting, nonprofits and government agencies—and DePaul has career connections across these organizations.

“Other schools have a CPA focus,” says Ahern. “But what is happening in DePaul’s classroom is a true understanding of how the accounting theory works out so that students can apply it to real-world scenarios.”

“With a comprehensive program design and excellent professors, the MSA program equipped me with the accounting knowledge and practical skills to be used in my career,” says Song. “The strong DePaul alumni network really helped me with finding and securing a job.”

TOP-RANKED DEGREE EXCELS IN ALL THINGS TAX

DePaul’s Master of Science in Taxation (MST) program is one of the first graduate tax programs in the United States and has been recognized annually as one of the top five tax programs in the nation, based on a survey of employers conducted by TaxTalent, the largest online network of tax professionals. The MST is specifically structured for working professionals to enhance understanding and analysis of complex tax statutes, tax regulations, related cases and rulings, and the Internal Revenue Code.

“This degree is very focused on tax,” says Diane Kuhlmann, assistant director of DePaul’s MST program. “It is taught by people who are working in the field and are bringing their real-world experience into the classroom. It is theoretical, but at the same time very practical.”

Kuhlmann says that there are three categories of professionals who make ideal students in the MST program. The first group is currently employed tax professionals. The MST curriculum can accelerate their development of tax expertise. The second group consists of professionals working in accounting or business who want to transition into tax. The third group represents students who plan to enter the field of taxation and who need additional credits to sit for the CPA exam. The common denominator for all three groups is that they plan to have careers in taxation.

Ben Ulman (MST ’17) fits in Kuhlmann’s second category— professionals who want to transition into tax. While working for EY, he heard from colleagues about the MST program at DePaul and was immediately interested in advancing in his career through higher education. At EY, he had transitioned into the real estate tax area and felt it was a good time to learn more about tax.

“I work in a niche area, so taxation will give me a new skill to help me in my career options,” Ulman says. “The program has given me a pretty wide tax skillset,” he continues. “Tax is ever-changing and the program taught me what is current with laws and regulations. The best part of the program for me was the professors’ knowledge of taxation and the network you build from class. DePaul is a great place to continue your education.”

The flexible pace of the program allows students to tailor their school schedule to meet their needs. Full-time students can complete the program in one year, while working professionals can finish it within two to three years. In addition, students have the flexibility to take a quarter off during busy seasons such as the winter tax season. The program also offers flexibility in delivery. Students can complete the program in a traditional classroom setting, partially online or fully online—a valuable benefit for students seeking a flexible schedule or for those who do not live in the area.

“There are very few programs that do what we do,” says Kuhlmann. “With our unparalleled faculty expertise and our extensive Chicago network, the fact that we have been doing this for a very long time while remaining in the top 10 tax programs every year says a lot.”

“DePaul’s MST program distinguishes itself from other schools because it has a truly comprehensive tax curriculum,” she added. “Many other business schools offer a concentration in taxation, but ours is a fully accredited tax degree.”

GRADUATE STUDENT OUTCOMES ENHANCED BY ALUMNI NETWORK

Perhaps one of the school’s best connections to the business community is Ledger & Quill (L&Q), the largest accounting alumni association in the nation. L&Q generates the professional and financial resources necessary to enhance the prestige and recognition of the school. It also serves as a catalyst for involving students, faculty, alumni and the business community in furthering the school’s reputation for excellence and innovation. Student scholarships are supported generously by donors and alumni connected to L&Q. Most scholarship funds are endowed by individuals or organizations, allowing DePaul to sustain its support year after year for students who demonstrate both financial need and academic merit. More than $430,000 was awarded in student scholarships over the last year (read more about scholarships on page 19).

Additionally, L&Q provided support for research and teaching through the Faculty Development Fund. This funding enables faculty to perform research, travel to other universities to work on co-authored research projects, present research papers and teaching materials at conferences, and attend meetings and seminars to increase their knowledge of current research topics. These activities are all designed to enhance faculty teaching effectiveness, and hence the experience of the student.

L&Q membership includes DePaul alumni who have excelled at Chicago’s top firms and companies. Alumni stay connected with the school because of the depth and quality of their college experience at DePaul. “My DePaul education provided me with an academic experience that was challenging, diverse in its curriculum and grounded in ethical leadership,” says Stacy Janiak (BUS ’92), national managing partner at Deloitte. “The depth and breadth of the program offerings provided me with the opportunity to develop many tools necessary for success, such as technical proficiency, relationship acumen and leadership skills.”

With the emphasis on real-world learning, the accountancy school’s connections to the industry, an unmatched alumni network curricula developed by faculty working in the industry, DePaul’s master’s programs are connecting students to the accounting field like never before.