Assessing the effectiveness of advisory boards in accounting programs

• Published in: Journal of accounting education 2023-06, Vol.63, p.100847, Article 100847
• Main Authors: Xu, Hui, Waldrup, Bobby E., Michenzi, Alfred
• Format: Article
• Language: English
• Subjects: AACSB accreditation; Accounting advisory board; Accounting education
• ISSN: 0748-5751; 1873-1996
• DOI: 10.1016/j.jaccedu.2023.100847

•Advisory boards significantly contribute to the success of accounting departments in U.S. higher education institutions.•Survey responses indicate that the most effective activities undertaken by accounting advisory boards are student career development, strategic planning, fundraising, and advocacy with departmental and institutional constituencies.•Schools with accounting programs that have been separately accredited by AACSB are more likely to have established independent boards.•The main reasons for not establishing independent boards include sharing boards with other business programs, and the small size of schools/programs. 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.