From the Department of Accounting Chair

Dear alumni and friends,

Warm greetings from the Department of Accounting at Wayne State University!

Since stepping into the role of department chair in 2023, I have been fortunate to witness a wave of positive change and renewed energy within our department. I am excited to share some key highlights and extend a personal invitation to join us in our mission to deliver exemplary teaching, conduct innovative research and make meaningful contributions to our communities.

Contrary to the national trend of declining accounting enrollments, our department has seen significant growth. In fall 2024, our undergraduate accounting program saw a 7.8% increase in enrollment, while our MSA program experienced an impressive 55.5% surge. Additionally, we successfully launched a joint MBA and MSA program, welcoming five new students. We remain committed to providing an educational experience that not only prepares our students for their professional journeys but also supports their growth throughout their careers.

To further guide our students toward their career aspirations, we have enhanced faculty involvement in student advising and established robust study plans. The Warriors in Accounting and Business (WIAAB), launched last year, has been actively engaging new members, helping students build soft skills and professional networks through company presentations, industry dialogues and collaborative projects across the university. Thanks to your generous support, we've also been able to hire a professional accounting tutor, in addition to student tutors, to better assist students in mastering their coursework.

In response to changes in the CPA exam and evolving industry needs, we have restructured our programs and curricula, integrating cutting-edge technologies into our courses. The department is in the process of hiring two tenure-track faculty members who bring expertise in emerging technologies and innovative research. These efforts ensure our graduates are equipped with the skills and knowledge today's employers demand. We are also deeply grateful for the ongoing guidance of our external advisory board, which includes representatives from esteemed organizations such as UHY, BDO, PwC, EY, Carhartt, Plante Moran, Doeren Mayhew, Deloitte, DTE Energy, KPMG and Thomson Reuters.

While we are witnessing many positive changes within our department, we also face significant challenges that demand careful attention. Ongoing state budget cuts, a faculty shortage, a shrinking pipeline of CPA candidates and the growing need to integrate advanced technologies into our classrooms are pressing issues. We seek your continued support as we navigate these challenges and strive to provide the best possible education for our students.

Here's how your gift can make a tangible impact:

Please consider contributing your donation online and selecting "Accounting Department Annual Fund" in the designation field.

You may also send a check payable to Wayne State University, PO Box 674602, Detroit, MI 48267-4602 and put "MISB Accounting R&D Fund" in the memo field and return by December 14, 2024, in order to get a deduction for this tax year. Your gifts help us bridge the gap in student learning experiences while continuing to supply firms with exceptional accounting talent for generations to come.

With heartfelt gratitude and warm regards,

Cheol Lee, Ph.D.
Chair, Department of Accounting
Wayne State University