Business Driven Education
UHY LLP Sponsored Class in Data Analytics
Thanks to a partnership between UHY LLP and the School of Business, accounting students have a new elective, “Data Analytics for Audit and Control." The class is built on a twenty year relationship with UHY, particularly with Howard Foote, the longtime office managing partner of Capital Region UHY.
Foote is impressed with the leadership of UAlbany and the School of Business, the school’s dual AACSB accreditation in business and accounting, and the high standards for coursework. “UHY’s support of the class is a heartfelt recognition of what the school offers. The core values of the school, particularly ‘From Opportunity to Impact’ resonates with us,” said Foote.
Exploring ways his firm could make an impact on the school, Foote approached accounting department chair Ingrid Fisher, who offered a variety of options. The analytics class met mutual objectives. Fisher said, “UHY uses their strength in data analytics and the school receives resources to offer a tools-driven class." The firm is providing $30,000 in funding to cover the instructor and technology for three years.
Fisher worked with Mark Hughes, the Director of Accounting Programs, to develop the syllabus. Hughes, who teaches the class, noted that it prepares students for work in all types of firms. He said, “It is real life analytics that auditors are using in the field.” The curriculum develops “technology agility,” a fundamental understanding of software functionality that students can apply to many different types of digital tools. Hughes added, “We are preparing for the future of accounting. The entire profession is reorganizing around data analytics.”
Foote agrees. “Data analytics relies on predictive techniques, providing a competitive edge and opportunities to address market challenges. The UAlbany course curriculum allows us to introduce a variety of methods,” said Foote.
Hughes noted that, though faculty consistently read up on trends and new approaches, to best prepare students, it is essential to talk to firms to determine their needs. “I like the fact that Howard cares about our students,” he said.
UHY not only funds the class, they help teach it. The first half of the course provides an introduction to analytics tools. Students finish the semester in an investigative fashion; there are plans for UHY staff to speak to the class, emphasizing the importance of this work to the students.
UHY is extensively involved with the school. UHY Assistant Controller Brad Cone has taught UAlbany accounting classes at the undergraduate and graduate levels and several partners hold positions on the School of Business Advisory Council and the Accounting Advisory Board. Foote estimates that 30 to 35% of UHY partners and professional and administrative staff are UAlbany alumni.
A History of Collaboration
The accounting department has an extensive history of collaboration with the business world. In 2009, a $100,000 gift from EY alumni and the EY Foundation created a communication class for undergraduate students of accounting. The class was made necessary by the implementation of the 150 hour education requirement necessary for CPA certification. EY funding covers the class and provides resources for career and faculty development and mentoring.
EY also sponsors the Trajectory program, a semester-long class with guest speakers and hands on projects where students operate as part of an information technology risk consulting team. The latest partnership with PricewaterhouseCoopers involves their input into curriculum changes to stay abreast of new technological development.
Fisher notes that the many connections are driven by the Accounting Advisory board, made up of industry professionals. She recently worked with the board to identify professionals to review the curriculum for the MS in Forensic Accounting. She said, “It is part of the Accounting Department culture to reach out to our professional partners and stakeholders. The connections are also driven by the many talented UAlbany alumni who are willing to help. It behooves us to be connected to industry needs so that our students are literate in in the necessary tools.”
Practice updates are included on every agenda of the Accounting Advisory Board. “Our greatest successes are based on partnerships. They drive innovation and learning,” said Fisher, “There are always new opportunities to explore. It is embedded in what we do.” She noted the connection extends well past the end of the meeting. Fisher regularly receives, “Have you seen this?” emails from alumni. “We always seek and value their input. We want to know what is on the horizon and the skills adjustments we need to make. It is essential to know how professional practice solves problems and which tools are critical to reaching solutions."
Industry connections drive curriculum development throughout the school. Information Systems & Business Analytics Department Chair Eliot Rich said, “Over the last decade alumni and business leaders have helped ISBA identify industry-driven topic areas. Key Bank regularly sends teams of volunteer instructors in support of Agile design concepts in our undergraduate and graduate ISBA classes. Alumni from General Electric and Bank of America helped shape our new undergraduate certificate in Business Analytics. Price Chopper staff have also worked with our MBA students on the potential of greening systems and infrastructure.”
The marketing department is well-connected to industry, having integrated a variety of concepts into marketing studies, including, business analytics for executive decision making, online survey tools for consumer and marketing research, CRM tools (including Oracle and Salesforce.com) and how they can be used for business analytics, and familiarity with Amazon Web Services and website tools.