Modern Accounting Careers Must Evolve as Business Data Needs Intensify

Understanding the emerging roles of accountants and auditors is at the forefront of the Isenberg’s new focus in data analytics in the MS in Accounting program. Launched in February 2022, the data analytics focus answers the strong and growing demand for accounting and auditing professionals who are trained in data analytics. Data analytics joins forensic accounting and taxation as the third such focus in Isenberg’s MS in Accounting program, further aligning the program with changes that will be made to the 2024 CPA Exam, which will require candidates to be skilled in a strong core based on accounting, auditing, and tax, with technology knowledge and skills emphasized throughout.

“The use of data and analytics is occurring across the entire accounting landscape and is shaping the future of the profession,” says Matthew Sherwood, assistant professor of accounting at Isenberg and himself a CPA (pictured right). “Companies big and small around the world continue to realize that data is their key asset as they expand their data-driven decision-making capacities.” 

Students are introduced to the data analytics focus through the core course Exploring Data Analytics for Accounting Professionals, which provides an understanding of analytics and information technology fundamentals such as business process management, enterprise resource planning and information security. Students then take a deeper dive through the course on Data Analysis and Visualization, where they learn how to assess and communicate business problems, to evaluate and analyze data and to develop and effectively present data-driven recommendations. From there, students take two of the following electives: Data Management for Business Leaders, Business Intelligence and Analytics, Business Application Development with Python, and Data Mining in Business.

Wife and husband team Julie and John Kuselias (pictured right) both teach in the MS in Accounting program, are Isenberg graduates, and bring industry insight and experience from working in large accounting firms. John (BBA 2015, MSA 2021), a Commercial Audit Manager for Ernst & Young, describes how being able to use complete sets of data provides much better information for auditors. “Using data analytical tools, auditors utilize the full year of financial transactions for a company, which can range from tens of thousands to millions of lines of data. This enables auditors to get a comprehensive understanding of their client’s business and develop audit procedures that address the true risks within the business.”  

Julie (BBA 2014, MSA 2021), an Assurance Manager at PricewaterhouseCoopers, will teach the Advanced Audit class in the MS in Accounting program this fall. She explains how modern data analytics solutions can help companies drive business strategy, priorities and transformation. “For example, in investment companies, derivative and security composition and valuation results might be demonstrated by auditors holistically to clients across their various portfolios year-over-year. These results can be useful to clients as they continue to execute on their investment strategies across funds.”

The data analytics curriculum innovations made in the MS in Accounting, both in core accounting classes and in the new data analytics focus area, ensure that Isenberg graduates are well-prepared to meet the growing demand for analytics in accounting, and will continue to be highly competitive in the accounting job market, says Traci Hess, Associate Dean of Graduate Programs.

“We hear from employers, especially the large public accounting firms, that accounting professionals need the analytical skills and critical thinking to improve procedures and deliver insights in a data-driven, rapidly changing world. To prepare for their future careers, accounting students need an education that emphasizes data and analytics.”