Assessing the effectiveness of advisory boards in accounting programs

Abstract

Many accounting professionals believe that there exists a gap between employer expectations and classroom learning, and that establishing a successful accounting advisory board can bridge this gap (Ahmed, 2019; Johnson, 2014; Norman & Bagranoff, 2019; Siegel, Sorensen, Klammer & Richtermeyer, 2010 ; Stevenson, Crawford, & Ferguson, 2016). This study aims to investigate the practice of accounting advisory boards in accounting departments, examining the activities they engage in that are most effective in assisting the departments. The authors also explore the barriers that prevent accounting programs from setting up their own accounting advisory boards. To achieve this, a survey was conducted among the accounting department chairs of schools in the United States. The results of the survey revealed that 49.5 % of the respondents indicated that they have an accounting advisory board dedicated exclusively to their accounting department, while 14.6 % of them shared the advisory board with other programs in their business schools. Overall, 64.1 % of the respondents reported having an advisory board. In addition, the study found that the most effective activities engaged by the accounting advisory boards, in order of effectiveness, are student career development, strategic planning, fundraising, and advocacy with departmental and institutional constituencies. Finally, the study highlights the reasons why some schools do not have an independent accounting advisory board. This study provides valuable insights for accounting departments seeking to establish or enhance the effectiveness of their advisory board.