Dr. Margaret O’Reilly-Allen, CPA, associate professor and chair of the Accounting department, and Lawrence Mawn, CPA, CIA, a director with Deloitte & Touche LLP and member of the University’s Accounting Advisory Council, co-authored “Internal Audit: Be a Key Player in the Risk Management Process.”
The article was published in the fall 2011 issue of the Pennsylvania CPA Journal. It also ran on the New Jersey Society of Certified Public Accountants and Deloitte websites. Organizations of all types and sizes need to leverage their investment in financial controls and regulatory compliance to develop new strategies that manage the other risks that could affect strategic goals and objectives. Most organizations already have some basic types of risk management activities in place. These may include activities such as risk assessments and compliance audits by internal audit or existing fraud detection programs. By aligning and enhancing existing activities, organizations can move to a cohesive enterprise risk management (ERM) program. The authors of the paper discuss how an organization can implement an effective ERM and how internal audit can optimize its value by taking a major role in the ERM effort.
Dr. Maria Sanchez, professor of Accounting, wrote “The Role of the Forensic Accountant in a Medicare Fraud Identity Theft Case,” which will be published in a forthcoming issue of Global Journal of Business Research.
In the article, Sanchez describes how identity theft is a rampant problem in the United States. It occurs when one’s personal information is stolen for the purpose of impersonating that person, making unauthorized purchases, taking money from bank accounts, opening new lines of credit with the stolen information, or using that information for other financial gain. According to a recent survey by the Javelin Strategy and Research Center, at least one in 10 people have been the victim of identity theft. Forensic accountants and fraud specialists can help to prevent, detect and prosecute identity theft. This study examines a case of identity theft involving Medicare fraud. The role that the forensic accountant may play in the prosecution is discussed. The forensic accountant is important in these types of cases because the financial trail must be traced and will lead back to the criminal. The forensic accountant also has the important job of preparing the evidence exhibits for the prosecutors to use in court.
Alan R. Sumutka, associate professor of Accounting, Dr. Lewis Coopersmith, associate professor of Management Sciences, and Dr. Andrew M. Sumutka, assistant professor of Management at York College of Pennsylvania, co-authored “Tax-Efficient Retirement Withdrawal Planning Using a Comprehensive Tax Model,” which was published in the April 2012 issue of the Journal of Financial Planning.
Conventional wisdom suggests that at retirement, all taxable assets (e.g., held in a brokerage account) should be withdrawn first, followed by tax-deferred assets (e.g., a 401(k) account), and then tax-free assets (e.g., Roth IRAs). However, the co-authors use a highly precise comprehensive tax model (which calculates all state and federal income taxes, including the alternative minimum tax, Medicare tax and premiums over a 30-year retirement period) to conclude that a more tax-efficient approach is to withdraw first from tax-deferred assets up to tax deductions, followed by the rapid depletion of taxable assets, then tax-free assets, and finally tax-deferred assets. Using this strategy, results permitted annual withdrawals of 4.5 percent from the retirement “nest egg” prior to age 70 percent and 6.6 percent thereafter, which significantly exceeds the commonly quoted 4 percent annual withdrawal standard. The results also suggested that some common tax and estate planning strategies are tax-inefficient.
Dr. Donald Wygal, associate professor of Accounting, authored four articles that were recently published in academic journals: “Negative behaviors that impede learning: Survey findings from award-winning accounting educators.” (with David E. Stout). Journal of Accounting Education. Vol. 28 (2010), pp. 58-74.; “Teaching, Scholarship and Sharing: Perspectives on Community” Accounting Education: An International Journal. Vol. 20, no.3, (2011). pp. 227-237; “Virtual Office Hours (VOH) in accounting coursework: Leveraging technology to enhance an integrative learning environment” (with Richard E. Lillie). Journal of Accounting Education. Vol. 29. (2011), pp.1-13.; and “The Role of Continuous Improvement and Mentoring in the
Pursuit of Teaching Effectiveness: Perspectives from Award-Winning Accounting Educators.” (with David E. Stout). The Accounting Educator’s Journal. Vol. 21 (2011). pp. 33-44.
“Negative behaviors that impede learning: Survey findings from award-winning accounting educators.” (with David E. Stout). Journal of Accounting Education. Vol. 28 (2010), pp. 58-74.
A review of the education literature, both within and beyond accounting, indicates previous consideration of attributes of teaching “effectiveness.” This literature provides educators with an ability to model approaches and techniques to enhance their teaching. Largely absent from the literature, however, is any attempt to identify teaching attributes that impede the learning process. While it may be assumed that “the opposite of best practices” would constitute methods or behaviors to be avoided, very little evidence is available to support this view. Little is known, except anecdotally, about why and how behaviors other than those subsumed in “best practices” frameworks can produce unintended negative results. Generally absent from the literature as well are perspectives from exemplars, that is, award-winning educators. This paper responds to both of these voids and presents initial evidence of classroom behaviors to be avoided because of their negative effect on student learning. Specifically, we report survey responses from a sample of 105 accounting educators who have been formally recognized for their teaching excellence. These teaching exemplars were asked to list, in their own words and in ranked order of importance, up to five responses to the following question: “what behaviors would you counsel other accounting educators to avoid?” The researchers received 374 responses to this question. A content analysis of these responses suggests the following major factors (in decreasing order of importance): negative or uncaring attitudes about students and the class; improper preparation and organization; faulty or deficient course-delivery skills; assessment mistakes; and, inflexible/inaccessible demeanor. The survey results should be relevant to accounting faculty in considering their approach to teaching as well as to senior faculty who are interested in mentoring junior faculty.
“Teaching, Scholarship and Sharing: Perspectives on Community” Accounting Education: An International Journal. Vol.20, no.3, (2011). pp. 227-237.
Accounting educators face on-going needs for professional development. However, given constraints in available resource support and time demands, faculty members may perceive such efforts in terms of an “either/or” proposition. An alternative view, presented here, conveys the power and potential of a “both/and” approach built upon a model of shared strengths in the pursuit of professional development. Specifically examined is a university-wide faculty development initiative. A demonstrable theme is that each faculty member has the potential to add value to his or her own professional pursuits and to those of colleagues throughout their careers.
“Virtual Office Hours (VOH) in accounting coursework: Leveraging technology to enhance an integrative learning environment” (with Richard E. Lillie). Journal of Accounting Education. Vol. 29. (2011), pp.1-13.
For at least the past two decades, accounting educators have been faced with increasing demands to keep pace with imperatives from the profession and with changes in the practice environment. Rapid changes in information technology applications, both in accounting practice and in academe, have added to the complexity of accounting educator responsibilities. This paper reports on the development and use of a “Virtual Office Hours” (VOH) platform to enhance opportunities to engage students in their learning beyond the classroom environment. This approach has been developed as a result of instructor experience with adding technology applications in the accounting classroom to better reflect practice environment needs. VOH has been implemented in auditing and intermediate accounting courses to develop clear and assured lines of communication between the student and instructor, and to foster the use of information technologies as a normal and expected characteristic of the course learning environment. In so doing, the approach uses tools that students will likely apply in the practice setting to interact with clients and colleagues. This can be seen as an extension of the model conveyed by the AICPA in its Core Competency Framework to leverage technology for student skill building. Student feedback, insights from accounting course experiences with VOH, and suggestions on applicability to other accounting educators are considered in the paper.
“The Role of Continuous Improvement and Mentoring in the Pursuit of Teaching Effectiveness: Perspectives from Award-Winning Accounting Educators.” (with David E. Stout). The Accounting Educator’s Journal. Vol. 21 (2011). pp. 33-44.
One of the major themes of the Accounting Education Change Commission (AECC) is the importance of teaching in a faculty member’s set of core responsibilities. In Issues Statement No. 5 (1993) the AECC called upon accounting educators to develop mechanisms for the sharing of ideas and strategies to improve teaching. This paper responds to that call and reports on specific strategies for enhancing teaching effectiveness as obtained from a survey of 100-plus award-winning U.S. accounting educators. Specific recommendations from our teaching exemplars call for accounting educators to embrace a continuous-improvement philosophy and to “reinvent” themselves as effective teachers. Also underscored from our teaching exemplars is the value of seeking out mentors, identifying and using support services, and maintaining an ongoing commitment to the goal of improving one’s effectiveness as a teacher. These recommendations are discussed with reference to practical concerns expressed in the literature, including possible trade-offs due to the perceived relative importance of teaching, research, and service in the performance evaluation model for accounting faculty. The authors also discuss their survey findings within the context of developing learning communities of teacher-scholars in accounting. Results reported in this paper should be useful to faculty interested in ongoing professional development, to graduate students in accounting (who are close to entering the profession), and to senior faculty who embrace the dual goals of community-building and mentoring of junior faculty.
Accounting Advisory Council Hall of Fame Dinner — May 11, 2011
Rider University’s Accounting Advisory Council welcomed and honored its inaugural class at its Accounting Hall of Fame Dinner and Induction Ceremony on May 11 at Pines Manor Restaurant in Edison, N.J. More than 160 attendees attended the evening event, which honored Rider alumni who have distinguished themselves in the accounting profession. Proceeds from the dinner will help fund student scholarships. Honorees included John Layton ’66, Donald Richards ’70, Stephen J. Cosgrove M.B.A. ’77, Frank Sonnenberg ’77, Clair Raubenstine ’63 and Professor John Gorman ’59.
Honoree biographies (.pdf)
Social Networking Sites and Fraud Investigation - April, 29, 2011
This seminar covered how the Internet can be used as an important source of information when conducting fraud examinations. Attendees developed an understanding of how to use social networks to aid investigations, legal issues concerning information obtained from the internet, optimization of investigative searches and find information available through public records. The seminar also provided examples of computer related fraud schemes and case studies to enhance understanding of material covered.
Video Part 1
Video Part 2
Adrian Project - March 25, 2011
Rider University participated in the Internal Revenue Service’s Adrian Project Student Fraud Conference, in which 21 College of Business Administration students worked alongside IRS criminal investigation agents to solve a fictional case. The daylong mock criminal investigation was held on the Lawrenceville campus, primarily in Sweigart Hall. Click below to see articles/videos from the event.
Trenton Times Article
State Auditor Presentation - Friday, January 29, 2011
This presentation was made by Dr. Dorothy A McMullen, CPA, CFE, FCPA, CICA, Associate Professor of Accounting, made a presentation on behalf of the Center for Business Forensics entitled “Occupational Fraud and Abuse: Now Playing at an Organization Near You” to a group of 230 auditors for the State of New Jersey. The presentation was part of a daylong CPE training session for auditors in the State of New Jersey that focused on fraud indicators, how fraud is investigated and how fraud is executed.
Basics of Fraud Detection - January 28, 2011
This seminar covered the fundamentals of fraud detection and prevention. Topics included: fraud theory, understanding why people commit fraud, defining elements of fraud, forensic audit techniques, deterection and prevention strategies. View a video of the presentation.
Video Part 1
Video Part 2