DeGroote launches accounting research centre

Julia Thomson | Hamilton, ON | November 2, 2011

A new research centre at the DeGroote School of Business will encourage research, scholarly development and professional activities in the field of accounting in order to advance the profession.

Announced last night at DeGroote's Ron Joyce Centre, the CA/DeGroote Centre for the Promotion of Accounting Education and Research is a new joint venture by the Institute of Chartered Accountants of Ontario (ICAO) and McMaster University.

DeGroote has a longstanding relationship with the ICAO. Over the past several years, both the business school and the ICAO have worked together to promote the accounting profession to DeGroote's business students. In 2010, DeGroote's Bachelor of Commerce and MBA programs were branded as ICAO-accredited programs, joining just seven other Ontario Universities with ICAO-accredited programs. Recently, the ICAO also donated $200,000 over five years in support of DeGroote's new Ron Joyce Centre.

"This branding as a CA accredited program will encourage students interested in pursuing the chartered accountant designation to select DeGroote when choosing a university business program at both the undergraduate and MBA level," explained associate professor of accounting, Sue McCracken. McCracken, a CA herself, also serves as Director of the Centre.

ICAO-accreditation means that students have a defined program of courses to take at DeGroote that covers all of the CA competency requirements for entry into ICAO's Professional Program. Rather than following a set of strict course guidelines, DeGroote is able to design a suite of courses that cover the competencies required by ICAO. McCracken expects that ICAO-accreditation will make DeGroote a top choice for students looking to earn their CA designation.

The funding provided by the ICAO to the Centre will support accounting education and research. The CA/DeGroote Centre is unique for its focus on students, supporting them through sponsorship of student activities and establishment of research grants and awards that are open to upper year Commerce and MBA students. With the support from ICAO, DeGroote's Accounting & Financial Management Services Area will be able to provide additional educational and research opportunities to both accounting students and faculty, with a goal of encouraging top students to pursue a career in accounting.

On the faculty side, the Centre will support research projects in a variety of ways, including providing start-up funding, aiding pilot studies or development of case studies, or backing professors' participation in conferences. Research projects will have transferable value to either the classroom or industry, with the overall goal of enhancing the profile of the CA profession.

Rod Barr, FCA, president & CEO of ICAO, said, "The Centre will promote critical thinking skills, professional judgment, ethical values and communication skills. It is important to establish a culture of appreciation for the accounting profession and research among students and faculty."