Iowa Ledger (2022) - Tippie College of Business

Iowa Ledger is an annual publication for alumni and friends of the Department of Accounting, Tippie College of Business, University of Iowa.

Iowa Ledger is an annual publication for alumni and friends of the Department of Accounting, Tippie College of Business, University of Iowa.


You also want an ePaper? Increase the reach of your titles

YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.

<strong>2022</strong><br />

IOWA<br />

LEDGER<br />



Dan Collins retires from the <strong>Tippie</strong> <strong>College</strong> <strong>of</strong> <strong>Business</strong>


Our Mission<br />

The national prominence <strong>of</strong> our<br />

department stems from the reputation<br />

for excellence <strong>of</strong> our programs and<br />

research <strong>of</strong> our faculty. A primary goal is<br />

to provide undergraduate and Master <strong>of</strong><br />

Accountancy students with a broad and<br />

deep educational experience that will<br />

facilitate their pr<strong>of</strong>essional growth.<br />

This objective entails providing students<br />

with a strong technical foundation in core<br />

accounting competencies; developing<br />

their skills in critical thinking, analysis,<br />

and communication; and fostering an<br />

awareness <strong>of</strong> ethical matters and a sense<br />

<strong>of</strong> pr<strong>of</strong>essional integrity and judgment.<br />

We also seek to educate students from<br />

other departments in a manner that<br />

enables them to become informed users<br />

<strong>of</strong> accounting information.<br />

We aim to cultivate the future leaders<br />

in the academic community by training<br />

and working with doctoral students.<br />

Promoting the research enterprise,<br />

which requires faculty to update<br />

their pr<strong>of</strong>essional skills continually<br />

by participating in the creation and<br />

dissemination <strong>of</strong> accounting knowledge,<br />

is critical in its own right and in<br />

accomplishing our curriculum goals.

<strong>Iowa</strong> <strong>Ledger</strong> is an annual publication for<br />

alumni and friends <strong>of</strong> the Department<br />

<strong>of</strong> Accounting, at the University <strong>of</strong> <strong>Iowa</strong><br />

<strong>Tippie</strong> <strong>College</strong> <strong>of</strong> <strong>Business</strong>.<br />

IOWA<br />

LEDGER<br />

TABLE OF CONTENTS <strong>2022</strong><br />

EDITOR<br />

Amanda May<br />


Cristi A. Gleason<br />

DESIGN<br />

The Williams-McBride Group<br />


Lynn Anderson Davy<br />

Amanda May<br />

Jennifer Seter Wagner<br />

Tom Snee<br />


Jonathan Chapman<br />

Jocelyn Espejo<br />

Amanda May<br />

Brendan Paul<br />

Tim Schoon | University <strong>of</strong> <strong>Iowa</strong><br />

Tampa Bay Buccaneers<br />

Justin A. Torner | University <strong>of</strong> <strong>Iowa</strong><br />

Lucas Underwood<br />

Danny Wilcox Frazier<br />

Nic Wynia<br />


Your feedback is always welcome!<br />

Direct correspondence to:<br />

Amanda May<br />

Editor, <strong>Iowa</strong> <strong>Ledger</strong><br />

<strong>Tippie</strong> <strong>College</strong> <strong>of</strong> <strong>Business</strong><br />

S210 PBB<br />

University <strong>of</strong> <strong>Iowa</strong><br />

<strong>Iowa</strong> City, IA 52242-1994<br />

amanda-may-1@uiowa.edu<br />


Email your updates to<br />

alumni-records@uiowa.edu<br />

or mail to:<br />

Alumni Records<br />

Office <strong>of</strong> the Registrar<br />

University <strong>of</strong> <strong>Iowa</strong><br />

2 Jessup Hall<br />

<strong>Iowa</strong> City, IA 52242-1797<br />


Email us at tippie-focus@uiowa.edu<br />

to subscribe to the college’s monthly<br />

e-newsletter.<br />

Copyright @ <strong>2022</strong> <strong>Tippie</strong> <strong>College</strong> <strong>of</strong><br />

<strong>Business</strong>, University <strong>of</strong> <strong>Iowa</strong><br />

All rights reserved.<br />

<br />

CAMPUS<br />

4 25 Years <strong>of</strong> First Year Scholars<br />

Where are the first group <strong>of</strong> scholars now?<br />

6 Retirements<br />

Joyce Berg, Mark Penno, and Tom Carroll have left the building<br />


14 From EMT to PwC<br />

Shea Fowler (BBA94) still geeks out about medicine<br />


A look at the life and legacy <strong>of</strong><br />

Pr<strong>of</strong>essor Dan Collins (BBA68/PhD73)<br />

22<br />

Modern Mentorship<br />

The new Early Career Pr<strong>of</strong>essional Accounting Council<br />

<strong>of</strong>fers advice<br />

25<br />

Two Paths to Partner<br />

Featuring EY’s Lindsay Abt (BBA99) and<br />

Brandon Miller (BBA03)<br />

FAMILY<br />

28<br />

Anthony Nelson Did Not See This Coming<br />

He was hoping to end up at a “Big Four” firm—<br />

instead, he won a Super Bowl<br />

30<br />

Alumni Notes<br />

32<br />

In Memoriam<br />


Dan Collins by Lucas Underwood. Mixed<br />

media on wood panel, 30x33 in., <strong>2022</strong>.<br />

<strong>Iowa</strong> <strong>Ledger</strong> magazine is a<br />

CASE Best <strong>of</strong> District V award winner!

Dear Alumni and Friends:<br />

On a weekly basis I run across a tweet, meme, or article (I’m still a bit old school) about<br />

accounting being “boring” or “meaningless.” I find this strange because every day I<br />

interact with colleagues teaching something cool in class, students finding exciting career<br />

opportunities, colleagues doing interesting research that gets attention from regulators<br />

or investors, and alumni who are doing amazing things in their industry or community.<br />

I am still not quite sure where the<br />

“boring” stories are coming from, but<br />

accounting at <strong>Iowa</strong> continues to be a<br />

transformative path to a lifetime <strong>of</strong><br />

boundless opportunities. Mastering the<br />

language <strong>of</strong> business allows accounting<br />

students to become trusted advisors,<br />

leaders, innovators, and disrupters in<br />

their firms, industries, and communities!<br />

Most <strong>of</strong> the tools have not changed.<br />

Learning how to measure income or<br />

obligations, the tax effects <strong>of</strong> asset<br />

exchanges, and how to analyze variances<br />

are things we still teach, and our students<br />

still learn (and are tested on for the CPA<br />

exam). But there are some significant<br />

changes, especially in the analytics<br />

content <strong>of</strong> courses. This year, all the<br />

classes in our major include analytics<br />

assignments. Students are using Power<br />

BI in the sophomore-level Managerial<br />

Accounting course starting this fall,<br />

which means all <strong>Tippie</strong> students will be<br />

better prepared for their internships<br />

and jobs. Accounting Information<br />

Systems and Cost Accounting are<br />

also getting makeovers—new course<br />

names and more analytics content.<br />

Accounting at <strong>Iowa</strong> continues to be<br />

unique in pairing analytical and problemsolving<br />

skills with world-leading training<br />

in writing and communication. In<br />

addition to developing writing skills,<br />

our students have data visualization<br />

assignments that help them summarize<br />

and communicate important takeaways.<br />

Students present heat maps <strong>of</strong> their<br />

data analytics research in Advanced Tax<br />

and practice telling recruiters a little<br />

about themselves in two-minute videos<br />

in the Pr<strong>of</strong>essional Seminar. Our goal<br />

is to prepare students to meet their<br />

ambitious career objectives, which include<br />

positions at many <strong>of</strong> the top accounting,<br />

finance, and consulting employers.<br />

Maybe there are some boring<br />

accountants out there—but<br />

they aren’t Hawkeyes.<br />

Warmest regards,<br />

Cristi Gleason<br />

Accounting Department Executive Officer<br />

Carlson-KPMG Research Pr<strong>of</strong>essor<br />


CAMPUS<br />


Learning from the Best<br />

Exposure to world-class scholars is part <strong>of</strong> the <strong>Tippie</strong> experience. See the latest additions<br />

to a long list <strong>of</strong> cutting-edge faculty members who have taught at the college.<br />


Henry B. <strong>Tippie</strong> Chair in Accounting<br />

Wilson brings major intellectual firepower to the faculty as the<br />

#3 individual tax researcher in the country (BYU <strong>2022</strong> rankings).<br />

Wilson is rejoining the <strong>Tippie</strong> <strong>College</strong> <strong>of</strong> <strong>Business</strong> where he started his<br />

career. Most recently, he was the director <strong>of</strong> the school <strong>of</strong> accounting<br />

and the Richard W. Lindholm Distinguished Pr<strong>of</strong>essor in Taxation at the<br />

University <strong>of</strong> Oregon Lundquist <strong>College</strong> <strong>of</strong> <strong>Business</strong>. His research focuses<br />

on corporate tax planning and the intersection between tax and financial<br />

accounting. His work has been published in the Journal <strong>of</strong> Accounting<br />

and Economics, The Accounting Review, and the Journal <strong>of</strong> Accounting<br />

Research, among many others. He also currently serves as the senior<br />

editor <strong>of</strong> the Journal <strong>of</strong> the American Taxation Association.<br />


Assistant Pr<strong>of</strong>essor<br />

Danye Wang joined the<br />

faculty this fall, having<br />

recently received her Ph.D.<br />

in accounting from NYU’s<br />

Stern School <strong>of</strong> <strong>Business</strong>. She<br />

earned a bachelor’s degree in<br />

finance in 2015 and a Master<br />

<strong>of</strong> Accountancy degree in 2017,<br />

both from Peking University<br />

in Beijing, China. She primarily<br />

researches empirical financial<br />

accounting and has an interest in<br />

misconduct, corporate litigation,<br />

and labor.<br />


Associate Pr<strong>of</strong>essor<br />

<strong>of</strong> Instruction<br />

David Stubing will begin<br />

lecturing for Accounting<br />

Information Systems and<br />

Financial Accounting classes.<br />

He holds a doctorate in<br />

business administration from<br />

DePaul University, an MBA from<br />

the University <strong>of</strong> Minnesota,<br />

and a Bachelor <strong>of</strong> Science<br />

from Illinois State University.<br />

He joins <strong>Tippie</strong> from George<br />

Mason University in Virginia.<br />


Visiting Assistant Pr<strong>of</strong>essor<br />

Visiting Assistant Pr<strong>of</strong>essor<br />

Harald Amberger taught Taxes<br />

and <strong>Business</strong> Strategy during<br />

the Spring <strong>2022</strong> semester. He<br />

came to <strong>Tippie</strong> from Austria<br />

where he is an assistant<br />

pr<strong>of</strong>essor at WU Vienna<br />

University <strong>of</strong> Economics and<br />

<strong>Business</strong>. He brought his<br />

global research interests to<br />

<strong>Tippie</strong> classrooms, focusing on<br />

the real economic effects <strong>of</strong><br />

international taxation.<br />


CAMPUS<br />

25 Years <strong>of</strong> First Year Scholars<br />

Where are they now?<br />


In 1997, the accounting department began awarding scholarships to promising incoming<br />

freshmen interested in accounting. Along with the tuition assistance, the students have<br />

historically been invited to a breakfast with members <strong>of</strong> the faculty and the Pr<strong>of</strong>essional<br />

Accounting Council where a group photo is taken. Twenty-five years and hundreds <strong>of</strong><br />

scholarships later, we showed this photo to the very first group <strong>of</strong> First Year Scholars and<br />

got updates. Just glancing at their titles, we would say these scholarships were a great<br />

investment!<br />

10<br />

8<br />

2<br />

6<br />

5<br />

12<br />

7<br />

1<br />

9<br />

11<br />

3<br />

13<br />

4<br />

4 IOWA LEDGER <strong>2022</strong>

1<br />

2<br />

3<br />


(BBA01/MAC02)<br />

Chief Financial Officer<br />

Cardlytics | Atlanta, Georgia<br />

“Standing here in this<br />

photo, I had no idea the<br />

number <strong>of</strong> friendships<br />

I would create, fun<br />

experiences I would<br />

have, and things I would<br />

learn at the University<br />

<strong>of</strong> <strong>Iowa</strong>. I was honored to<br />

be part <strong>of</strong> the first group <strong>of</strong><br />

First Year Scholars and the<br />

initial intimidation upon<br />

meeting the other recipients<br />

and administration running<br />

the program quicky dissolved<br />

once I recognized how much<br />

everyone was truly invested in<br />

our success.”<br />


<strong>Business</strong> Owner and Entrepreneur<br />

Rock Technology, Paul Davis<br />

Restoration, MY SALON Suite |<br />

Coralville, <strong>Iowa</strong><br />


(BSE02/MS04)<br />

Civil Environmental Engineer and<br />

Manager <strong>of</strong> Environmental<br />

Services | Locus Technologies |<br />

Mountain View, California<br />

“Wow! I don’t think I<br />

ever saw this photo<br />

but yes, that is me. I was<br />

just starting college and<br />

excited about the accounting<br />

program at the business<br />

4<br />

5<br />

6<br />

school. While I didn’t end up<br />

in accounting, I was grateful<br />

for the scholarship and<br />

opportunity to learn about the<br />

career so early on. The impact<br />

<strong>of</strong> the program translated<br />

to my current career where<br />

I’m responsible for project<br />

management and budgeting.<br />


(BBA01/MAC02)<br />

Director <strong>of</strong> Corporate Reporting<br />

Petco Health & Wellness, LLC |<br />

San Diego, California<br />

“Wow this was<br />

a trip down<br />

memory lane!<br />

This was taken just after I<br />

moved from Omaha, Neb. I<br />

was very nervous about going<br />

out <strong>of</strong> state to school, but I felt<br />

right at home at <strong>Tippie</strong> and<br />

met some <strong>of</strong> my best friends<br />

in life there. The college set<br />

me up for great success in<br />

my accounting career—from<br />

working in public accounting<br />

at KPMG to completing an<br />

international rotation in<br />

Sydney, Australia to taking a<br />

company through an IPO.”<br />


Credentials Verification Office<br />

Supervisor | Unity Point Health |<br />

West Des Moines, <strong>Iowa</strong><br />


Registered Nurse, House<br />

Supervisor | CHI Mercy Hospital |<br />

Council Bluffs, <strong>Iowa</strong><br />

“After three semesters as a<br />

business major, I switched to<br />

nursing. I now live in Glenwood,<br />

<strong>Iowa</strong>, with my four daughters<br />

and wife Ranita, who just<br />

earned her nursing degree<br />

from <strong>Iowa</strong> this spring! We<br />

continue to hold season football<br />

and wrestling tickets and enjoy<br />

coming to <strong>Iowa</strong> City to visit the<br />

campus and the community.”<br />


7 Vice President & Chief Accounting<br />

O f fi c e r | Thermo Fischer Scientific |<br />

Boston, Massachusetts<br />

“Talk about a blast<br />

from the past!<br />

As a first-year student in 1997,<br />

I remember being pleasantly<br />

surprised that the faculty<br />

were taking time to invest<br />

in us. I had assumed that the<br />

university would view its<br />

relationship with its students<br />

as transactional—we would<br />

pay for classes, and they would<br />

educate. I was wrong. I met Dan<br />

Collins that day and realized<br />

that he really wanted to see the<br />

next generation succeed.<br />

8<br />


Manager <strong>of</strong> Technology<br />

Solutions & Assets<br />

DelCor Technology Solutions |<br />

Washington D.C.<br />

“I was initially intrigued<br />

by the free breakfast<br />

but appreciated the<br />

dedication <strong>of</strong> the other<br />

scholars. A lot <strong>of</strong> what I<br />

learned in the accounting<br />

program is even clearer after<br />

graduation: Ethical behavior is<br />

a huge competitive advantage<br />

and never stop learning.”<br />

9<br />

10<br />

11<br />

12<br />

13<br />


Operations Manager<br />

Efficient Capital Management, LLC |<br />

Warrenville, Illinois<br />

CHRIS McCANN (BBA01)<br />

Director <strong>of</strong> Financial Reporting<br />

Ranger Capital Management |<br />

Greater Chicago Area<br />

“I don't recall exactly<br />

when this photo was<br />

taken, but I remember<br />

being very excited about<br />

the new Pappajohn<br />

<strong>Business</strong> Building and<br />

felt grateful for the<br />

opportunity to take<br />

classes in such a state<strong>of</strong>-the-art<br />

building. Like<br />

everyone, I am sure I had plenty<br />

<strong>of</strong> nervousness that freshman<br />

year, but it all worked out for the<br />

best. I look back fondly at my<br />

time at the University <strong>of</strong> <strong>Iowa</strong>.”<br />


Director <strong>of</strong> Accounting | Optum |<br />

Greater Minneapolis/St. Paul Area<br />


Chief Financial Officer<br />

The Fresh Factory | Chicago, Illinois<br />

“I remember starting out<br />

in the business school<br />

having no idea where my<br />

career would go. I am sure<br />

I was pretty quiet, surrounded<br />

by people I thought had a plan. I<br />

have had a great journey so far<br />

and know my experiences at<br />

<strong>Iowa</strong> helped get me to where I<br />

am today.”<br />


Anyone know<br />

what Sarah is up<br />

to these days?<br />


CAMPUS<br />


A Lifetime <strong>of</strong> Giving Back<br />

Joyce E. Berg retires<br />


Numbers seem like an appropriate way to summarize Pr<strong>of</strong>essor Joyce Berg’s career.<br />

She is, after all, an accounting pr<strong>of</strong>essor. And the numbers are staggering:<br />

11<br />

TIPPIE<br />



$500,000+<br />



15,000+<br />



roughly<br />

$15 MILLION<br />




10,700+<br />




6,800+<br />






6 IOWA LEDGER <strong>2022</strong>

Yet even the numbers seem inadequate<br />

to describe the impact <strong>of</strong> Berg’s 30 years<br />

<strong>of</strong> research, teaching, and service at the<br />

University <strong>of</strong> <strong>Iowa</strong>.<br />

Accounting alumni probably know her best<br />

from her work with Beta Alpha Psi (BAP)<br />

and the Volunteer Income Tax Assistance<br />

(VITA) Program. Berg was the BAP faculty<br />

advisor and helped the organization<br />

significantly expand its service to the<br />

community from September 2005 until<br />

her retirement in <strong>2022</strong>. Through BAPsponsored<br />

Habitat for Humanity <strong>Tippie</strong><br />

Builds, Berg led accounting students in<br />

building homes for families. This included<br />

climbing on the ro<strong>of</strong> to lay shingles,<br />

planning pasta lunches and leaf rakes<br />

to raise funds, and enlisting accounting<br />

alums to work side-by-side with students<br />

on the builds.<br />

Roberto Paniagua (BBA11) pictured on<br />

Berg’s left above, said he first encountered<br />

Berg when taking her honors Managerial<br />

Accounting class. That classroom<br />

connection grew into Paniagua becoming<br />

co-head <strong>of</strong> the 2011 <strong>Tippie</strong> Build.<br />

“She put an incredible amount <strong>of</strong> energy<br />

into helping build and fundraise $50,000<br />

for the construction <strong>of</strong> a new home for a<br />

family in need,” said Paniagua, who is now<br />

an account executive at Google. “I never<br />

understood how she managed to stay on<br />

top <strong>of</strong> everything she did, but her selfless<br />

energy and passion for helping others<br />

was the biggest and best lesson I took<br />

away from my four years at <strong>Iowa</strong>.”<br />

Berg also has a creative streak. She<br />

expanded the annual Meet the Firms<br />

Night networking event, moving it for<br />

many years to the press box at Kinnick<br />

Stadium where recruiters saw their firms’<br />

names flash across the scoreboard as they<br />

networked with students. The Department<br />

<strong>of</strong> Accounting boasts a college-leading<br />

98% placement rate, thanks in part to<br />

Berg’s vision <strong>of</strong> networking events.<br />

Berg has also been the <strong>Iowa</strong> VITA Program<br />

site coordinator, trainer, and advisor for<br />

the last 17 years. VITA student volunteers<br />

assist low- and moderate-income families<br />

in Johnson County to prepare their tax<br />

returns. Berg increased the number <strong>of</strong><br />

clients VITA served tenfold.<br />

“Pr<strong>of</strong>essor Berg worked tirelessly alongside<br />

the student volunteers, processing<br />

hundreds <strong>of</strong> tax returns in a very short<br />

period <strong>of</strong> time,” said 2008 BAP vice<br />

president <strong>of</strong> VITA programming Evan<br />

Malcom (BBA09). “Her energy and<br />

desire to always maximize the refunds<br />

for the taxpayers kept the student<br />

volunteers engaged and always learning<br />

something new with each return they<br />

processed.”<br />

Blake Walton (BBA21/MAc22), a VITA<br />

teaching assistant, remembers that “she<br />

would do everything in her power to not<br />

turn a taxpayer away,” recalling many<br />

evenings where VITA sites went late, but<br />

she would continue to take details outside<br />

after they were rushed out <strong>of</strong> the library.<br />

At the start <strong>of</strong> the COVID-19 pandemic,<br />

Berg deftly shifted VITA to a fully virtual<br />

program with a secure electronic drop<br />

box for taxpayer documents, helping more<br />

than 700 taxpayers prepare their returns—<br />

many after students had left school for<br />

summer break.<br />

Alumni and students may be less aware<br />

<strong>of</strong> Berg’s pathbreaking scholarship. She<br />

was the first woman awarded tenure and<br />

promoted to full pr<strong>of</strong>essor in accounting<br />

at the University <strong>of</strong> <strong>Iowa</strong>, arriving just<br />

a few years after the <strong>Iowa</strong> Electronic<br />

Markets (IEM) started in 1988. For many<br />

years, Berg was the director <strong>of</strong> the IEM,<br />

which is considered the first prediction<br />

market in the country. She has written<br />

more than 20 scholarly research articles<br />

to date using IEM data and played a key<br />

role in facilitating research opportunities<br />

for her colleagues.<br />

“One <strong>of</strong> the best things about coming<br />

to <strong>Iowa</strong> was the opportunity to have<br />

Joyce as a colleague,” said Pr<strong>of</strong>essor Tom<br />

Rietz, finance department executive<br />

<strong>of</strong>ficer. “It has been my pleasure to work<br />

with her on several research projects<br />

and serve together on the IEM steering<br />

committee. She’s a careful scholar with an<br />

exceptionally creative mind.”<br />




• Outstanding Service Contribution by a<br />

Faculty Member Award (2016)<br />

• Michael J. Brody Award for Faculty<br />

Excellence in Service to the University<br />

and the State <strong>of</strong> <strong>Iowa</strong> (2014)<br />

• Faculty Advisor <strong>of</strong> the Year (2013)<br />

• Gil Maynard Excellence in Accounting<br />

Instruction Award (2012)<br />

• President’s Award for Technology<br />

Innovation (2000)<br />

• Under her direction, BAP won the<br />

University <strong>of</strong> <strong>Iowa</strong> President’s Award for<br />

State Outreach and Public Engagement<br />

for the VITA Program and its impact on<br />

the Johnson County community (2008)<br />

Those who know her are not surprised<br />

that she is more gratified to hear students<br />

remember her as a pr<strong>of</strong>essor who “taught<br />

them the human side <strong>of</strong> accounting.” •<br />


CAMPUS<br />


Reputation Builder<br />

Mark C. Penno retires<br />


Pr<strong>of</strong>essor Mark Penno taught analytical and theoretical classes at <strong>Tippie</strong>, which<br />

makes perfect sense considering he first earned a bachelor’s degree in philosophy<br />

before moving to accounting for his master’s and Ph.D. His teachings helped<br />

form the reputation <strong>of</strong> <strong>Tippie</strong> students being able to think through and analyze<br />

problems—one <strong>of</strong> the reasons our graduates are sought after.<br />

One <strong>of</strong> Penno’s former students, Bradford Hepfer (BBA06/<br />

MAc07/PhD16), who is now an assistant pr<strong>of</strong>essor at Texas<br />

A&M, said, “I’ve interacted with many analytical researchers—<br />

they are all remarkably intelligent and creative scholars—but<br />

none hold a candle to Mark when it comes to his ability<br />

to bring life to challenging, complicated, and otherwise<br />

inaccessible theories and models.”<br />

Kathryn Brightbill (PhD18), now an assistant pr<strong>of</strong>essor<br />

at Utah State University, remembers his helpful class<br />

notes. “Even now I <strong>of</strong>fer them to students who are looking<br />

to understand one <strong>of</strong> the papers we have covered. I’m not<br />

ashamed to admit I occasionally look at them myself! He is<br />

a good person, great teacher, and fantastic friend. With his<br />

retirement, the academic world will be a little less fun.”<br />

Penno joined the University <strong>of</strong> <strong>Iowa</strong> faculty in 2004 and was<br />

most recently the Sidney G. Winter Pr<strong>of</strong>essor <strong>of</strong> Accounting.<br />

Apart from his research and refereeing <strong>of</strong> peer’s research,<br />

Penno spent much <strong>of</strong> his time teaching MBA students in Des<br />

Moines.<br />

Some career highlights include being ranked #1 in 2012 for<br />

accounting research productivity for the Ph.D. class <strong>of</strong> 1983<br />

by Issues in Accounting Education, winning the best paper<br />

award from Accounting Horizons in 2009, serving as the<br />

director <strong>of</strong> the McGladrey Institute for Accounting Education<br />

and Research at <strong>Iowa</strong> from 2011 to 2014, and being named a<br />

fellow <strong>of</strong> the Accounting and Economics Society.<br />

Mark and Bonnie Penno<br />

Penno plans to spend retirement in <strong>Iowa</strong> City and his second<br />

home in Galena, Ill. with his wife, Bonnie. •<br />

8 IOWA LEDGER <strong>2022</strong>

CAMPUS<br />


Raising the Bar<br />

Thomas J. Carroll retires<br />


If you ever took a financial reporting or accounting theory class from Pr<strong>of</strong>essor <strong>of</strong><br />

Instruction Tom Carroll, you know he put students through their paces.<br />

“Rigorous courses like Tom’s really helped me prepare for<br />

environments like Lehman Brothers, where there is a very<br />

high bar for output and delivery,” said Brad Downes (BBA04/<br />

MAc05), who is now the associate director <strong>of</strong> strategic<br />

finance at Balyasny Asset Management. “I was able to go toeto-toe<br />

with my Ivy League colleagues and really perform well.”<br />

Sarah Yanik (BBA19/MAc21), now a tax associate at RSM<br />

in Des Moines, remembers his tough love in the classroom<br />

turning into kindness and empathy in <strong>of</strong>fice hours. “He would<br />

share insightful stories and anecdotes and truly cared about<br />

the desires and success <strong>of</strong> this students. Those <strong>of</strong>fice hour<br />

visits truly shaped me and my time at <strong>Iowa</strong>.”<br />

Carroll began teaching at <strong>Tippie</strong> in 1989. He won several<br />

awards as an instructor, including a <strong>Tippie</strong> Collegiate<br />

Teaching Award in 2015, a dean’s teaching award in 2008, and<br />

the Gilbert P. Maynard Excellence in Accounting Instruction<br />

Award in 2007 and 2003.<br />

He was also the director <strong>of</strong> the Master <strong>of</strong> Accountancy<br />

program up until his retirement, was an academic advisor<br />

to more than 480 master’s students from 2008 to 2016, and<br />

served on the <strong>Tippie</strong> Judicial Board for more than 20 years.<br />

Tom Carroll<br />

In addition to his work at the university, Carroll has also<br />

served on the board <strong>of</strong> directors for the non-pr<strong>of</strong>it Red<br />

Cedar Chamber Music since 2016, is a member <strong>of</strong> the Student<br />

Tuition Organization <strong>of</strong> Southeast <strong>Iowa</strong>, and has served in<br />

various roles at the Regina Foundation. •<br />


CAMPUS<br />

Stand Out Students<br />

Each year our students work hard and achieve big things. It’s great to see them<br />

recognized! Congratulations to these scholarship winners:<br />

$25,000<br />

$10,000<br />

$10,000<br />

$2,500<br />

$2,500<br />

Accounting Ph.D.<br />

candidate Cory Hinds<br />

won a prestigious<br />

$25,000 Deloitte<br />

Foundation Fellowship.<br />

The foundation awards<br />

only 10 such fellowships<br />

a year to top tier<br />

candidates across the<br />

United States.<br />

Hinds’ research uses<br />

experimental methods<br />

to study the judgments<br />

and decisions <strong>of</strong><br />

investors and managers<br />

in financial reporting<br />

and capital markets.<br />

Cameron Erickson<br />

(BBA22) was selected<br />

as a <strong>2022</strong>-2023 Public<br />

Company Accounting<br />

Oversight Board scholar<br />

and received a $10,000<br />

scholarship. He will<br />

start his career in the<br />

Process Risk & Controls<br />

division <strong>of</strong> RSM’s<br />

consulting practice in<br />

Chicago after finishing<br />

his MAc degree at<br />

<strong>Tippie</strong> in December<br />

<strong>2022</strong>.<br />

“I’m grateful to Deloitte for sponsoring the<br />

award and supporting my academic research.<br />

While my name is attached to the award,<br />

I would not have been in a position to receive<br />

it without the great support and mentorship <strong>of</strong><br />

the accounting faculty at <strong>Iowa</strong>.“<br />


Haley Graves (BBA22)<br />

was selected as a Public<br />

Company Accounting<br />

Oversight Board<br />

scholar for the 2021-<br />

<strong>2022</strong> school year and<br />

received a $10,000<br />

scholarship. She is<br />

currently pursuing<br />

her master’s degree in<br />

accounting.<br />

After two rounds <strong>of</strong><br />

competition, accounting<br />

senior Ryan Brickhaus<br />

won a $2,500 Norman<br />

J. Kallaus Scholarship<br />

out <strong>of</strong> a pool <strong>of</strong> students<br />

enrolled in the <strong>Business</strong><br />

Communication &<br />

Protocol course at<br />

the <strong>Tippie</strong> <strong>College</strong><br />

<strong>of</strong> <strong>Business</strong>. For the<br />

final round, students<br />

submitted recorded<br />

elevator pitches.<br />

According to Meredith<br />

Ringel-Ensley, the<br />

assistant director <strong>of</strong> the<br />

Judith R. Frank <strong>Business</strong><br />

Communication Center,<br />

“Ryan’s submission stood<br />

heads above all the<br />

others.”<br />

Accounting senior<br />

Bryce Buhlman<br />

received a $2,500<br />

<strong>Iowa</strong> CPA Education<br />

Foundation Scholarship.<br />

The foundation was<br />

formed in 2014 to<br />

provide support to<br />

students interested<br />

in becoming CPAs in<br />

<strong>Iowa</strong>. Buhlman, who<br />

will graduate with<br />

his bachelor’s degree<br />

in May 2023, has<br />

internships with RSM in<br />

Waterloo and EY in Des<br />

Moines lined up before<br />

he plans to start his<br />

MAc degree at <strong>Iowa</strong> the<br />

fall <strong>of</strong> 2023. •<br />

10 IOWA LEDGER <strong>2022</strong>


The Case for the Chief Accounting Officer<br />

BY • TOM SNEE<br />

14 % ( )<br />

The likelihood firms<br />

with a CAO will have<br />

to restate earnings<br />

One <strong>of</strong> the biggest C-suite trends over the last decade has been the evolution <strong>of</strong> the<br />

chief financial <strong>of</strong>ficer (CFO) into more <strong>of</strong> a strategic manager, which begs the question<br />

<strong>of</strong> who on the executive team devotes their time to overseeing the financial reporting.<br />

A recent study by <strong>Tippie</strong> <strong>College</strong> <strong>of</strong><br />

<strong>Business</strong> assistant pr<strong>of</strong>essor Adrienne<br />

Rhodes and her co-author, Dan<br />

Russomanno <strong>of</strong> the University <strong>of</strong> Arizona,<br />

finds that many firms elevate a chief<br />

accounting <strong>of</strong>ficer (CAO) or controller to<br />

the executive <strong>of</strong>ficer team. Overall, this<br />

has been beneficial for firms that have<br />

made the change, as those that elevate<br />

their CAO to an executive <strong>of</strong>ficer position<br />

tend to produce more reliable financial<br />

statements than firms with a chief<br />

financial <strong>of</strong>ficer only. Firms with this<br />

reporting structure see a 14% decrease<br />

in the likelihood <strong>of</strong> a restatement than<br />

firms that have only a CFO, and the longer<br />

the CAO is in place, the less likely a firm<br />

will need to restate its earnings.<br />

Rhodes and her co-author tracked the<br />

executive <strong>of</strong>ficers in Form 10-K or proxy<br />

statement filings <strong>of</strong> public firms between<br />

2000 and 2016, some with CAOs, others<br />

with only CFOs. They found other benefits<br />

for those with CAOs or equivalent positions:<br />

they made fewer accrual estimation errors<br />

and unsigned total current accruals, and<br />

corrected material weaknesses in internal<br />

control more quickly.<br />

They also found firms are most likely<br />

to benefit from a CAO at the executive<br />

<strong>of</strong>ficer level when there is more pressure<br />

on executives’ time and attention, such<br />

as those with more segments and<br />

subsidiaries, and with more foreign<br />

transactions. Since the CFO in many<br />

firms has evolved into a position focused<br />

more on strategic matters and firm<br />

management, a CAO is able to give<br />

financial reporting the time and attention<br />

that a CFO may no longer have time for.<br />

Since restatements are <strong>of</strong>ten seen as<br />

signs <strong>of</strong> sloppy management, they can<br />

lead to lower stock prices or greater<br />

attention from regulators that will lower<br />

the firm’s value. Rhodes says elevating<br />

the CAO to an executive <strong>of</strong>ficer position<br />

also has a kind <strong>of</strong> symbolism that could<br />

build trust and firm value.<br />

“The presence <strong>of</strong> a CAO may represent<br />

a firm strategy to signal high financial<br />

reporting quality to the market, and the<br />

increased reliability <strong>of</strong> reporting from<br />

a firm with a CAO may be driven by this<br />

commitment,” she said. •<br />


CAMPUS<br />

“I’ll Take S-Corps for 500, Alex”<br />

<strong>Tippie</strong> hosts the first annual RSM Tax Jeopardy competition<br />


Anthony Mullan<br />

12 IOWA LEDGER <strong>2022</strong>

The air was abuzz with anticipation. A capacity crowd <strong>of</strong> students, pr<strong>of</strong>essors, and tax<br />

pr<strong>of</strong>essionals eagerly chatted under a massive blue game screen in the Pappajohn<br />

<strong>Business</strong> Building. Then the unmistakable Jeopardy melody began.<br />

It was time for the final round <strong>of</strong> the first annual RSM Tax Jeopardy competition.<br />

Jason Wagner and Joe McCarragher<br />

As the two teams <strong>of</strong> Introduction to<br />

Taxation students collaborated with<br />

their team members to answer the final<br />

Jeopardy question, Chuck Orr (BBA72/<br />

JD75/MA75) sat near the back <strong>of</strong> the<br />

audience with a smile on his face.<br />

Orr, a retired partner from RSM, was<br />

instrumental in making the day possible,<br />

helping to establish the RSM Wilfred (Bill)<br />

H. Heitritter Excellence in Tax Fund at the<br />

University <strong>of</strong> <strong>Iowa</strong> after Heitritter’s death<br />

in 2015.<br />

Orr and Bill Heitritter (BBA72/JD75/<br />

MA75) were partners at RSM, and he<br />

wanted to honor his friend <strong>of</strong> over 40<br />

years while helping the next generation<br />

<strong>of</strong> accounting students. The resulting<br />

fund supports students to participate<br />

in experiential learning related to tax<br />

education and research.<br />

Originally the funds were used to send a<br />

small handful <strong>of</strong> students to existing<br />

competitions, but when COVID-19 brought<br />

about a pause in these events, it prompted<br />

innovation.<br />

Associate Pr<strong>of</strong>essor Kay Hegarty (BBA80)<br />

approached Accounting Department<br />

Executive Officer Cristi Gleason and said,<br />

“There has to be a better way to use the<br />

funds to benefit a broader cross section <strong>of</strong><br />

students. She asked me what I had in mind.<br />

With this Tax Jeopardy competition, we<br />

were able to create and host a fun event<br />

with RSM and involve around 100 students<br />

instead <strong>of</strong> just a few.”<br />

The four-round competition began with<br />

12 teams and <strong>of</strong>fered extra credit and<br />

small gift cards to students participating<br />

as competitors or audience members. In<br />

addition, students participating in the<br />

semi-final and final rounds were each<br />

competing for up to $600 in tuition<br />

credits. The winning team—Anthony<br />

Mullan, Blake Shultz, and Zachary<br />

Willenzik—took home a total value <strong>of</strong> $700<br />

each for demonstrating their tax mastery.<br />

“I thought it was tremendous,” Orr remarked<br />

after the event. “Bill was a really competitive<br />

guy, so he would have loved this!”<br />

RSM colleagues and close personal<br />

friends Jason Wagner (BBA99) and Joe<br />

McCarragher (BBA99) were the “Alex<br />

Trebeks” <strong>of</strong> the event, complete with<br />

“game-show host” grey wigs and flashy<br />

Hawkeye jackets. The two were hired by<br />

RSM on the same day 22 years ago.<br />

In his opening remarks, McCarragher,<br />

who is also a Pr<strong>of</strong>essional Accounting<br />

Council member, said “If it wasn’t for<br />

Chuck’s heart for his friend and his heart<br />

for accounting, the students at the UI<br />

wouldn’t have this opportunity.”<br />

“You’ll find in your career, it’s friendships<br />

that matter.” •<br />



From EMT to PwC<br />

Accountant Shea Fowler still geeks out about medicine<br />


Shea Fowler (BBA94) didn’t know much about accounting when he started at the University<br />

<strong>of</strong> <strong>Iowa</strong> in the early 1990s. He thought he wanted to be a doctor, and even pursued EMT<br />

training after witnessing his grandfather suffer a fatal heart attack at a family Thanksgiving<br />

gathering. But when his father, Joe Fowler (MBA92), enrolled in <strong>Tippie</strong>’s Executive MBA<br />

program to boost his career, business suddenly became a visible career path.<br />

Fowler grew up in <strong>Iowa</strong> City, where<br />

his father was head <strong>of</strong> parking and<br />

transportation for the city. He lived at<br />

home for several years during college, and<br />

saw his father working on case studies<br />

and reading textbooks. Although Fowler<br />

was already intrigued by emergency<br />

medicine, he also became interested in<br />

entrepreneurship and dreamed <strong>of</strong> owning<br />

a restaurant, which lead him to the<br />

business school.<br />

“Once I got to <strong>Tippie</strong>, I enjoyed what I<br />

was studying and learning,” he says. “My<br />

accounting courses were some <strong>of</strong> the<br />

first to challenge me, and as I got more<br />

immersed, I realized the subject clicked<br />

with my brain. Accounting quickly became<br />

my passion–I felt like I had found myself,<br />

my talent.”<br />

Still focused on medicine<br />

Today, Fowler is Health Services<br />

Assurance Practice partner and leader <strong>of</strong><br />

the Greater Chicago Healthcare Practice<br />

for PricewaterhouseCoopers in Chicago,<br />

Ill. Ever since his EMT days, Fowler has<br />

maintained a deep interest in healthcare<br />

and medicine, and he enjoys working<br />

with healthcare providers to optimize<br />

their services and patient care. He<br />

admits to “geeking out” over the latest<br />

medical procedures and cures and loves<br />

learning about cutting-edge science and<br />

healthcare innovations.<br />

Fowler regularly consults with<br />

administrators from major academic<br />

medical centers across the country,<br />

including the University <strong>of</strong> Chicago<br />

Medicine and New York Presbyterian. He<br />

says working in the medical field within<br />

the accounting world is rewarding.<br />

“I am fascinated by how medical<br />

administrators, doctors, and nurses run<br />

their departments,” says Fowler. “There is<br />

so much going on in hospitals today, from<br />

diversity in healthcare to discrepancies<br />

in care due to race and sex; it is all<br />

unbelievably interesting to me. I see my<br />

role as making healthcare better and more<br />

efficient, and it’s incredibly gratifying to me.”<br />

Raising a family <strong>of</strong> Hawkeyes<br />

Fowler and his wife Courtney (Cavitt)<br />

Fowler (BBA97), who is also an accounting<br />

alum, live in Western Springs, Ill. a<br />

community 15 miles from downtown<br />

Chicago, and have three boys. Identical<br />

twins Josh and Jackson are currently in<br />

their third year at <strong>Iowa</strong> and are enjoying<br />

their experience on the <strong>Iowa</strong> City campus.<br />

Josh is studying accounting at <strong>Tippie</strong>, and<br />

Jackson is studying human physiology and<br />

exercise science. Fowler’s third son, Drew,<br />

is a junior in high school and is seriously<br />

considering becoming a Hawkeye.<br />

Although no one from Fowler’s extended<br />

family still lives in <strong>Iowa</strong> City, he and his<br />

wife come to town <strong>of</strong>ten to visit their sons<br />

and attend football games. Fowler says<br />

he wouldn’t be surprised if at least one <strong>of</strong><br />

his twin boys decides to stay in <strong>Iowa</strong> after<br />

graduation. He says his sons appreciate the<br />

state’s relaxed lifestyle and social values.<br />

Plus, one <strong>of</strong> his sons recently purchased a<br />

large pickup truck.<br />

“It doesn’t seem like the right choice <strong>of</strong><br />

vehicle for the city.”<br />

Fowler on the Pr<strong>of</strong>essional<br />

Accounting Council<br />

Fowler is committed to exposing more<br />

students to the incredibly diverse world<br />

<strong>of</strong> accounting. He brings his passion for<br />

education and everything Hawkeye to the<br />

<strong>Tippie</strong> Pr<strong>of</strong>essional Accounting Council<br />

(PAC). Now in his third year, Fowler says<br />

he is “preparing the pipeline” to bring<br />

new talent to accounting firms in <strong>Iowa</strong><br />

and beyond.<br />

Fowler’s wife served on the PAC about a<br />

decade ago, and he learned a lot about the<br />

council’s work from her. But the experience<br />

<strong>of</strong> meeting with fellow accountants<br />

and interacting with <strong>Tippie</strong> Accounting<br />

Department Executive Officer Cristi<br />

Gleason is even better than he expected.<br />

“I learn something every time I am on<br />

campus, and I especially enjoy learning<br />

about the accounting program,” he says.<br />

“The PAC is made up <strong>of</strong> very smart, driven,<br />

and successful businesspeople, so it’s a joy<br />

to be a member and soak up all that talent<br />

and expertise. I feel I should be thanking<br />

<strong>Tippie</strong>, not the other way around.” •<br />




Legacy<br />


Dan Collins retires from<br />

the <strong>Tippie</strong> <strong>College</strong> <strong>of</strong> <strong>Business</strong><br />

To illustrate Dan Collins (BBA68/PhD73) on the occasion <strong>of</strong> his retirement, we wanted it to be more<br />

than a simple photograph. We wanted his portrait to somehow communicate the breadth <strong>of</strong> his<br />

45-year career. We wanted him rooted strongly in <strong>Iowa</strong>. We wanted viewers to know he was not just<br />

a pr<strong>of</strong>essor, but a formidable researcher. And we wanted his dozens <strong>of</strong> Ph.D. students represented.<br />

So, we enlisted the help <strong>of</strong> artist and <strong>Iowa</strong> alumnus Lucas Underwood (BA03/MFA15) for this<br />

Herculean task. While Collins was teaching his last two semesters <strong>of</strong> classes, we were busy layering<br />

as much meaning as we could into this portrait. The longer you look, the more you’ll see!<br />


The gold stripes <strong>of</strong> Collins’<br />

tie feature Marshalltown,<br />

<strong>Iowa</strong> (where he went to<br />

high school) and <strong>Iowa</strong> City.<br />

His Ph.D. students from<br />

1982 to 2021 in golden<br />

metal leaf calligraphy on<br />

books <strong>of</strong> collaged <strong>Iowa</strong><br />

maps spanning from<br />

Marshall County (top<br />

left) to Johnson County<br />

(bottom right).<br />

All eight editions <strong>of</strong><br />

“Financial Reporting and<br />

Analysis,” the widely used<br />

accounting textbook<br />

Collins co-authored.<br />

3-D bookshelves made<br />

from layered maps where<br />

Michigan State University,<br />

Northwestern, and Duke<br />

are located. (Representing<br />

his limited time away from<br />

the University <strong>of</strong> <strong>Iowa</strong><br />

when he began his career/<br />

was a visiting pr<strong>of</strong>essor).<br />

A Financial Accounting<br />

Standards (FASB)<br />

textbook represents the<br />

countless hours he spent<br />

in the classroom as an<br />

accounting pr<strong>of</strong>essor. He<br />

used to tell his students<br />

that the proper way to<br />

carry the FASB tome was<br />

under their arm with the<br />

title facing out so that<br />

everyone would know they<br />

were “elite accounting<br />

students.”<br />

The deep blue fields at the<br />

bottom corners are made<br />

<strong>of</strong> indigo-coated maps <strong>of</strong><br />

the Pacific and Atlantic<br />

Oceans representing the<br />

pull <strong>of</strong> the coasts. In the<br />

portrait, as in life, Collins<br />

remains solidly in the<br />

middle <strong>of</strong> the frame (and<br />

country). A loyal Hawkeye,<br />

through and through.<br />

Journals where Collins’<br />

research has been<br />

published (shades <strong>of</strong> blue)<br />

and served as a referee<br />

(shades <strong>of</strong> tan leather).<br />

The University <strong>of</strong> <strong>Iowa</strong><br />

presidential seal as a<br />

lapel pin.<br />

The 1968 and 1973<br />

yearbooks (the years<br />

in which he got his<br />

bachelor’s and doctoral<br />

degrees in accounting<br />

from the University <strong>of</strong><br />

<strong>Iowa</strong>).<br />

DYK?<br />

The Hawkeye yearbook<br />

was produced from 1892<br />

to 1992—except for a brief<br />

interruption in the 70s,<br />

which included 1973. So<br />

there was actually no<br />

yearbook produced the<br />

year he received his Ph.D.<br />

Collins’ jacket is made <strong>of</strong><br />

<strong>Iowa</strong> maps. While painted<br />

a traditional “Hawkeye<br />

Black,” you can still<br />

see details <strong>of</strong> the maps<br />

underneath if you move<br />

in relation to the piece.<br />

As the light catches it at<br />

different angles, county<br />

lines appear in gold and<br />

warm hues.<br />

Composition generated<br />

from a medium-format<br />

photograph taken by<br />

Underwood, a former<br />

assistant at the famed<br />

Lasansky Gallery and<br />

Studio in <strong>Iowa</strong> City.<br />

His face was made using<br />

an ink transfer process<br />

utilizing a flipped inkjet<br />

print <strong>of</strong> his photograph,<br />

transparent matte medium,<br />

and <strong>Iowa</strong> maps. Through<br />

pressure, the ink detaches<br />

from the paper it’s printed<br />

on, adhering to the matte<br />

medium instead.<br />

A weighty legacy.<br />

The framed piece tips<br />

the scales at roughly<br />

23 pounds. •<br />

16 IOWA LEDGER <strong>2022</strong>

Dan Collins<br />

By Lucas Underwood<br />

Mixed media on wood panel, 30x33 in., <strong>2022</strong><br />

On view in the RSM Suite (W262) at the Pappajohn <strong>Business</strong> Building



ACCOUNTING for<br />


18 IOWA LEDGER <strong>2022</strong>

The evening <strong>of</strong> Dan Collins’ retirement party, the Pr<strong>of</strong>essional<br />

Accounting Council (PAC) and a few extra guests toasted to his<br />

long and accomplished career. Of note, not one <strong>of</strong> the speakers<br />

relied on Collins’ numerous awards as pro<strong>of</strong> <strong>of</strong> greatness.<br />

There was hardly a mention <strong>of</strong> his Hancher-Finkbine Faculty<br />

Medallion, FARS Lifetime Achievement Award, multiple teaching<br />

and mentorship awards from <strong>Tippie</strong>, nor his being named the<br />

Outstanding Accounting Alumnus <strong>of</strong> <strong>2022</strong>.<br />

Instead, there were stories.<br />

He lent a hand at a new faculty member’s house when their<br />

basement flooded. He was such a handsome and well-dressed<br />

young pr<strong>of</strong>essor. He took the time to make copious notes on<br />

Ph.D. students’ papers—enough to fill all the margins. He talked<br />

over Zoom to a student struggling through their first semester <strong>of</strong><br />

accounting, after which they referred to him as “that dear<br />

Dan Collins.”<br />

And it was fitting. His legacy is so much more than any<br />

trophy case could hold.<br />

It’s hard to overstate his influence in the college. At the <strong>Tippie</strong><br />

<strong>College</strong> <strong>of</strong> <strong>Business</strong>, Collins is ever-present, even though he now<br />

only occasionally stops by his emeritus faculty <strong>of</strong>fice. To fully<br />

convey his impact, we would need more space than this—or any<br />

other—magazine allows, so we’ll concentrate on three important<br />

programs that either wouldn’t exist or wouldn’t be the same<br />

without his advocacy and involvement.<br />


HAS A<br />


“<br />

I was a student <strong>of</strong> Pr<strong>of</strong>essor<br />

Collins in the 70s, early in his<br />

career. Over 40 years later, I<br />

recall those classes as among<br />

the most challenging <strong>of</strong> my<br />

higher education. I also recall<br />

Pr<strong>of</strong>essor Collins as one <strong>of</strong> the<br />

best teachers.”<br />


(BBA78/MAc81/JD81)<br />

Bogaard Law, LLC<br />

“<br />

I got to know Dan very well when he<br />

was in the MAc program and I was in<br />

the PhD program way back in 1967.<br />

Dan, myself, and another Ph.D. student,<br />

Fred Sterling, started jogging together<br />

to keep fit. All three <strong>of</strong> us were quite<br />

pleased with our running progress. The<br />

interesting thing about Dan’s running<br />

at that time was that, unlike Fred and<br />

I who ran in typical running shoes,<br />

Dan ran in combat boots and still set<br />

the pace for us. Dan always excelled in<br />

everything he did.”<br />

Dan was [my late husband]<br />

“<br />

John Phillips (PhD99)’s<br />

chair. John worshipped the<br />

ground Dan walked on.”<br />

— AMY DUNBAR<br />

Former <strong>Tippie</strong> Pr<strong>of</strong>essor<br />


I graded papers for Dan.<br />

“<br />

It was my senior year and<br />

I don’t remember much<br />

about it except that I<br />

thought Dan was very<br />

handsome.”<br />


DARBY (BBA69)<br />

<br />

The Accounting Writing<br />

and Communications Program<br />

In the late 1990s, Dan Collins (BBA68/<br />

PhD73) was the accounting department<br />

executive <strong>of</strong>ficer. He heard from the board<br />

and alumni in industry that accounting<br />

graduates were great at accounting—but<br />

there was a catch. They weren’t so great at<br />

communicating.<br />

You could have all the data and knowhow in<br />

the world, but if you couldn’t communicate<br />

it via executive summary for your boss or<br />

in an email to your client, what good did it<br />

do? And it wasn’t just <strong>Iowa</strong> grads. It was an<br />

industry-wide problem.<br />

Where others saw a crisis, Collins<br />

saw an opportunity. He rallied the board<br />

and donors and the Accounting Writing<br />

Program was piloted the fall semester<br />

<strong>of</strong> 1998.<br />

“I first met Dan when he was interviewing<br />

me to coordinate the fledgling Accounting<br />

Writing Program,” remembers Pam<br />

Bourjaily, who was the first director <strong>of</strong> the<br />

program and is now the director <strong>of</strong> <strong>Tippie</strong>’s<br />

Frank <strong>Business</strong> Communications Center.<br />

“His enthusiasm for what was then little<br />

more than a good idea and a website was<br />

compelling and, it turns out, contagious.<br />

Dan embodies the power <strong>of</strong> positivity—he<br />

makes the ‘yes’ happen.”<br />

Over the last twenty-four years, the<br />

program has grown its reach (thanks in<br />

part to funding by Bob Nicholls (BBA80))<br />

to serve around 300 undergraduate and<br />

master’s students any given semester,<br />

and expanded its mission to include<br />

speaking and data visualization in addition<br />

to writing. Currently, all accounting<br />

undergraduate and required Master’s<br />

courses feature writing assignments.<br />

Using private and corporate gifts<br />

(largely secured by Collins), as well as<br />

departmental funds, the program employs<br />

a team <strong>of</strong> writing consultants who meet<br />

with students prior to paper submission<br />

dates to provide guidance. The consultants<br />

also assess for communication objectives<br />

and leave feedback for students after the<br />

submission date. By applying this feedback<br />

from one project to the next, students<br />

improve gradually in their writing abilities.<br />

The writing program’s model curriculum<br />

initiative is now beginning to take shape<br />

in other departments throughout the<br />

college, and <strong>Tippie</strong> accounting students are<br />

becoming known—and getting hired—for<br />

their communication skills. Reputation<br />

building at its best.<br />




qrco.de/dancollins<br />

“<br />

I met Dan Collins in 1979. He was my<br />

pr<strong>of</strong>essor for Intro to Accounting<br />

and many other classes over the<br />

next three years. Back then I wasn’t<br />

the greatest student and Dan was<br />

all business—a full agenda with no<br />

wasted time in the classroom. Those<br />

piercing eyes and dry sense <strong>of</strong> humor;<br />

my brain was always exhausted after<br />

each class.”<br />


Retired chairman and CEO<br />

Actuant Corporation<br />

“<br />

I’ve<br />

had a blessed life,<br />

and a lot <strong>of</strong> it is because <strong>of</strong> Dan.”<br />

Hegarty and her husband, John, honored Collins<br />

through the creation <strong>of</strong> the Kay and John Hegarty<br />

Accounting Faculty Excellence Fund in 2020.<br />

— KAY HEGARTY (BBA80)<br />

Associate Pr<strong>of</strong>essor <strong>of</strong> Instruction<br />

Retired partner, RSM

Another program that Collins spearheaded<br />

is the First Year Scholars program. He<br />

secured corporate gifts from the Pella<br />

Corporation and Deere & Company in 1997<br />

to launch the scholarship program based<br />

First Year<br />

Scholars Program<br />

on student potential.<br />

Historically, the department and college<br />

awarded a substantial number <strong>of</strong><br />

scholarships to juniors and seniors with<br />

outstanding academic records. Aiming<br />

to attract promising young students<br />

interested in accounting, Collins came up<br />

with the idea <strong>of</strong> giving out scholarships to<br />

incoming students as a recruitment tool.<br />

The first year, 13 scholarships were awarded.<br />

As a group, they maintained a 3.7 GPA in<br />

high school, scored an average <strong>of</strong> 28 on the<br />

ACT exam (90th percentile), were active<br />

in many extra-curricular activities, and<br />

graduated in the top 15% <strong>of</strong> their class.<br />

Turn to pg. 4 to see how the investment<br />

panned out—spoiler, it was a huge<br />

success, with several C-suite level<br />

executives among the group.<br />

And it wasn’t a one-time thing.<br />

For the past twenty-five years, the<br />

scholarships have launched the next<br />

generation <strong>of</strong> accountants and executives.<br />

The program has now awarded more<br />

than 300 student scholarships and has<br />

been an irrefutable success.<br />

<strong>2022</strong> First Year Scholars<br />

Ph.D. Program<br />

Much <strong>of</strong> Collins’ 45-year career was<br />

spent building the <strong>Iowa</strong> accounting Ph.D<br />

program’s national status and reputation.<br />

Since the 1970s, Collins has ceaselessly<br />

been an advocate for the program and<br />

catalyst for its excellence.<br />

Importantly, Collins excelled as much at<br />

fundraising as he did at educating and<br />

mentoring his students.<br />

He was passionate about hiring top-flight<br />

faculty, an enthusiasm he shared with<br />

Henry B. <strong>Tippie</strong> (BSC49). The two shared<br />

a memorable pr<strong>of</strong>essor, Gil Maynard, and<br />

agreed on the compounding effect an<br />

excellent pr<strong>of</strong>essor could have—hire a great<br />

faculty member and influence generations!<br />

Collins also deeply cared about supporting<br />

doctoral students. So much so that when his<br />

wife Mary passed away in 2003 from breast<br />

cancer, Collins established The Dan and<br />

Mary Collins Accounting Ph.D. Fellowship<br />

Fund, to which he has personally made<br />

significant donations. And he didn’t just<br />

<strong>of</strong>fer financial and academic support. He<br />

<strong>of</strong>ten treated Ph.D. students like family.<br />

“Many <strong>of</strong> the doctoral students are<br />

international students, and I was one <strong>of</strong><br />

those,” said Paul Hribar (PhD00), the<br />

current graduate program director. “When<br />

you move here, you don’t know too many<br />

people, and what amazed me most about<br />

Dan and Mary was how much they really<br />

adopted the Ph.D. students.”<br />

“He took the time to meet my mom and<br />

sisters and comforted them with the care<br />

he showed for me,” remembers S.P. Kothari<br />

(PhD86), MIT pr<strong>of</strong>essor and former chief<br />

economist and director at the SEC who<br />

came from India for his doctoral education.<br />

“They felt assured that I had a family<br />

thousands <strong>of</strong> miles away from them.”<br />

Collins’ efforts—large and small—have<br />

certainly paid <strong>of</strong>f. The program is wellranked<br />

and his influence as an academic<br />

mentor is truly far-reaching. His Ph.D.<br />

mentees have gone on to become<br />

pr<strong>of</strong>essors and deans at prestigious<br />

universities across the country, as well as<br />

countless more that have made it to the<br />

top echelons <strong>of</strong> industry.<br />

As current department chair Cristi<br />

Gleason said in Collins’ retirement tribute<br />

video, “It was really strange to watch<br />

him clean out his <strong>of</strong>fice and to throw out<br />

decades <strong>of</strong> books and papers.”<br />

“But his legacy isn’t in those books and<br />

papers,” she said. “It is in the scholars<br />

around the world that he’s trained and in<br />

whom he’s instilled his values.” •<br />

The tradition continued<br />

until his retirement!<br />

“<br />

Dan and I graduated from<br />

Marshalltown High School in 1964,<br />

and we both played baseball for<br />

Marshalltown Community <strong>College</strong><br />

before we were roommates at the<br />

University <strong>of</strong> <strong>Iowa</strong>. It was around<br />

then that I christened Dan with the<br />

nickname ‘booker’ because he was<br />

always studying and ‘booking.’ It<br />

obviously paid <strong>of</strong>f!”<br />

—JIM WOLFE (BSPH70)<br />

“<br />

This is the custom-made bobblehead the<br />

doctoral students in my cohort made <strong>of</strong><br />

Dan’s ‘nod’ (<strong>of</strong> approval), which is widely<br />

sought after. Dan frequently nods in<br />

approval when he is following along and<br />

agreeing with a speaker, particularly<br />

in workshop. The student with the best<br />

workshop comment each week got to keep<br />

the trophy.”<br />

— JANE Z. SONG (PhD18)<br />

Assistant Pr<strong>of</strong>essor <strong>of</strong> Accounting,<br />

University <strong>of</strong> Georgia



MODERN<br />

Mentorship<br />

Early career alums <strong>of</strong>fer<br />

advice for accounting<br />

students and the<br />

department<br />


Accounting Department Executive Officer Cristi Gleason had a challenge on her hands.<br />

In the wake <strong>of</strong> the COVID-19 pandemic, almost every interview for her students had<br />

shifted to virtual. Those seeking jobs and internships were coming to faculty with all sorts<br />

<strong>of</strong> questions: In what physical location should students conduct Zoom interviews? Was it<br />

okay to sit in their dorm room? Should they take down their posters? How could they get<br />

the most out <strong>of</strong> their virtual internship?<br />

Typically, Gleason would turn to her<br />

Pr<strong>of</strong>essional Accounting Council, which<br />

has been in place since the 1980s. This<br />

accomplished group <strong>of</strong> alums fly in twice<br />

a year to advise the department on<br />

curriculum issues and talk to students.<br />

“They are a really seasoned bunch,” says<br />

Gleason. “Very experienced—a great council.<br />

But the pandemic changed the student<br />

experience awfully fast for us. And there<br />

were just glaring places where we knew we<br />

needed input and mentoring from recent<br />

alumni. Our students needed firsthand<br />

knowledge <strong>of</strong> how to pr<strong>of</strong>essionally<br />

manage their social media accounts<br />

and to understand if they possessed the<br />

technology tools required in the real world.”<br />

in their classrooms, as well as Micros<strong>of</strong>t<br />

PowerBI and Visio, a flowcharting tool.<br />

Thanks to the ECPAC, the department<br />

also now has a LinkedIn group, which<br />

Gleason notes has proven to be a huge<br />

recruiting tool for the department, as<br />

future Hawkeyes thinking about accounting<br />

are eager to connect with alums in the<br />

field. Further, the accounting information<br />

systems course is significantly increasing<br />

the analytics component because <strong>of</strong> the<br />

ECPAC’s feedback. “Basically,” says Gleason,<br />

“We were looking for input from recent<br />

graduates about what they needed and what<br />

they wished they’d had as students—and<br />

their suggestions put us on a significantly<br />

different trajectory.”<br />

With the 80 ECPAC members signed<br />

up as mentors, the next challenge became<br />

how, precisely, to match them with<br />

interested students.<br />

Enter the app, Tribute.<br />

And so, the idea <strong>of</strong> the Early Career<br />

Pr<strong>of</strong>essional Accounting Council (ECPAC)<br />

was born.<br />

Once word got out about the group, the<br />

response was enormous. “I thought maybe<br />

40 people would volunteer,” says Gleason.<br />

“Today, we have twice that number.” And<br />

the impact was immediate. Among their<br />

recommendations: Change up the s<strong>of</strong>tware.<br />

Faculty now incorporate even more Excel<br />

Sammy Maasarani (BBA20) is one such<br />

recent graduate who sits on the ECPAC.<br />

Now based in Chicago, Ill., as an associate<br />

for KPMG, he says he volunteers his time<br />

because he recognizes the importance <strong>of</strong><br />

community with his alma mater. “I enjoyed<br />

my time at the UI,” he says. “I was a tutor<br />

and loved helping other students and seeing<br />

them succeed. This mentoring program is<br />

a good fit—I can network, feel connected to<br />

the UI, and help students.”

Used by companies like Micros<strong>of</strong>t, Zillow,<br />

and Coinbase to foster mentoring cultures,<br />

the Tribute app operates like a dating<br />

app, except it’s used for mentorship. It is<br />

designed so that both mentors and mentees<br />

set up individual pr<strong>of</strong>iles, and the user can<br />

choose from a large menu <strong>of</strong> attributes to<br />

find a good fit.<br />

<strong>Tippie</strong> Accounting is the first alumni/<br />

student use for Tribute, but the app’s<br />

flexibility is perfect for the “at the moment”<br />

kinds <strong>of</strong> mentoring students need: How<br />

do I make a good impression in my first<br />

interview? Move from a small town to a<br />

big city? Find other first-generation users<br />

who can advise how to navigate the job<br />

market? Find an LGBTQ+ friendly employer?<br />

Perhaps they are currently studying for/<br />

taking the CPA exam or navigating worklife<br />

balance. The app also provides a filter<br />

where a student can, for instance, check a<br />

specific box for the kind <strong>of</strong> work they hope<br />

to find, such as within the fields <strong>of</strong> data<br />

privacy and security, asset management, or<br />

audit and insurance. The initial mentoring<br />

relationship is short—just 30 days—a<br />

time limit which can be extended if both<br />

users agree. While it allows for a genuine<br />

connection to grow, the default 30 days<br />

encourages students to build a wider<br />

pr<strong>of</strong>essional network.<br />

Casey Daniel, a third-year accounting<br />

student, says the app allowed him to<br />

connect with recent graduates who<br />

could advise him on classes to take or<br />

when and where to get that first internship.<br />

“I’m the first one in my family to study<br />

business,” says the <strong>Iowa</strong> City native, who<br />

was president <strong>of</strong> the <strong>Tippie</strong> Accounting<br />

Society his first year. “It’s not like I can ask<br />

my parents. At first, I had no clue where I<br />

wanted to go with accounting, so I took my<br />

questions to the Tribute app. It was much<br />

cooler than I expected. Now if I have a<br />

question, they tell me, ‘Yeah, just shoot me<br />

a text!’”<br />

Daniel recalls one week, <strong>Tippie</strong> sponsored a<br />

“Meet the Firms” night. “Even though I was<br />

afraid they’d be dumb questions, I texted<br />

my app mentor to see what I should ask<br />

the recruiters and to get some confidence.”<br />

Thanks in part to that mentorship, Daniel is<br />

happy to report he got an interview with a<br />

recruiter he liked and secured an internship.<br />

“My app mentors helped me learn that<br />

accounting is not one-dimensional. And<br />

having someone to text who knows<br />

what they’re talking about has been super<br />

valuable.”<br />

Mentors report the experience with the<br />

Tribute app has been gratifying as well.<br />

Joe Daniel (BBA14/MAc15)—no relation<br />

to Casey—moved to Chicago, Ill., after<br />

graduation and spent four years in the<br />

audit practice at Deloitte. He’s currently<br />

a manager at The Siegfried Group, also in<br />

Chicago, Ill. “It really is such a rewarding<br />

experience to give back to the current<br />

students—especially those who reach<br />

out,” he says. “Being on the mentor side <strong>of</strong><br />

it, I feel a sense <strong>of</strong> responsibility to those<br />

students who are willing to put in the effort.”<br />

Daniel says his commitment per student is<br />

minimal: typically, a few texts or calls each<br />

month. “It’s not overly time consuming,”<br />

he says. “All you’re doing is sharing your<br />

experience and advice. You don’t need to<br />

do any extra work to prepare. There’s really<br />

no downside. It’s just a great opportunity to<br />

help the next generation.” •<br />

24 IOWA LEDGER <strong>2022</strong>



Lindsay Abt (BBA99)<br />

Brandon Miller (BBA03)<br />

TWO PATHS to<br />


There is no one specific set <strong>of</strong> skills or experiences for ambitious accountants who desire to obtain<br />

the position <strong>of</strong> partner. Some firms may prioritize those who have a specialization or technical<br />

competency; others seek well-traveled candidates who have relocated for the firm or who have<br />

experience in a certain region <strong>of</strong> the world. Ultimately, partners are typically those employees who<br />

with demonstrated integrity, have proven they can be strong leaders <strong>of</strong> the firm, and who have shown<br />

they can protect and grow valued client relationships through providing exceptional client services.<br />

<strong>Tippie</strong> accounting alums Lindsay Abt (BBA99) and Brandon Miller (BBA03) have spent their entire<br />

careers at Ernst & Young (EY), and both have obtained the position <strong>of</strong> partner. Yet their individual<br />

career experiences prove there are many paths to this coveted position.<br />






Abt began her EY career as an intern in<br />

Des Moines, <strong>Iowa</strong>, then moved to the<br />

audit practice at EY’s Kansas City, Mo.<br />

<strong>of</strong>fice after graduating. In Kansas City<br />

she raised her hand to work on a nonaudit<br />

project that involved 100% travel.<br />

“That opportunity really accelerated<br />

the trajectory <strong>of</strong> my career,” says Abt. A<br />

year later she was transferred to New<br />

York City.<br />









In February 1999, Lindsay (Sargent)<br />

Abt found herself peering over the<br />

podium at hundreds <strong>of</strong> people in a<br />

big lecture hall at the Pappajohn<br />

<strong>Business</strong> Building.<br />

Then a senior, she had been asked<br />

to introduce Henry <strong>Tippie</strong> at the<br />

business school naming ceremony.<br />

“I remember it being a very big deal,”<br />

she says. She recalls purchasing a<br />

new suit for the event, and then being<br />

able to shake the hands <strong>of</strong> Mr. and<br />

Mrs. <strong>Tippie</strong>. “It was a phenomenal<br />

experience,” she says. “So many <strong>of</strong> my<br />

leadership skills come from my time<br />

at <strong>Tippie</strong>.”<br />

In New York, Abt raised her hand once<br />

again when given the opportunity to<br />

pursue the executive MBA program<br />

at Columbia University, which EY<br />

sponsored. She completed the<br />

graduate courses while working full<br />

time. “I strongly believe my foundation<br />

from <strong>Iowa</strong> gave me the building blocks<br />

I needed to take on new challenges.”<br />

Abt was set to make partner in New<br />

York when circumstances with her<br />

main client changed. “They needed<br />

me in Florida,” she says. Her main<br />

client had recently centralized their<br />

accounting in one location just outside<br />

<strong>of</strong> Orlando, Fla., so she was asked to<br />

move south to create and lead a team<br />

<strong>of</strong> 25 people. She made partner on<br />

July 1, 2014 and moved to Florida three<br />

days later—six months pregnant at the<br />

time. “The Florida move, though very<br />

tough personally, was such a great<br />

pr<strong>of</strong>essional opportunity and I’m so<br />

happy I had the confidence to follow<br />

through,” she says.<br />

FUN FACT<br />

Lindsay met her husband <strong>of</strong> 13 years in Key West, Fla. on a trip with another<br />

<strong>Iowa</strong> accounting friend en route to the 2003 Orange Bowl in Miami.<br />

“I firmly believe that I achieved the role<br />

<strong>of</strong> partner as a direct result <strong>of</strong> saying<br />

yes to some big challenges and to being<br />

open to moving around the firm and<br />

the country.” •<br />

26 IOWA LEDGER <strong>2022</strong>



Brandon Miller may have taken a very<br />

different path in life if it hadn’t been<br />

for Pr<strong>of</strong>essor Emeritus Dan Collins.<br />

Then a high school student, Miller was<br />

likely to follow in the footsteps <strong>of</strong> his<br />

dad and three uncles who all attended<br />

<strong>Iowa</strong> State University. Despite this, he<br />

agreed to tour the University <strong>of</strong> <strong>Iowa</strong><br />

with his parents. The tour took them<br />

past Collins’ <strong>of</strong>fice at <strong>Tippie</strong>—and today,<br />

Miller says those few moments with<br />

the man “considered a legend within<br />

the department” would essentially<br />

change the trajectory <strong>of</strong> his life.<br />

“Collins was so proud <strong>of</strong> everything<br />

that the accounting faculty and the<br />

graduating students were doing. He<br />

could really sell the prestige and<br />

excitement <strong>of</strong> the program. Largely<br />

because <strong>of</strong> Collins, I chose <strong>Tippie</strong>.”<br />

Miller credits his experiences with<br />

Beta Alpha Psi (BAP)—first as a student<br />

<strong>of</strong>ficer and then later as an alumni<br />

representative on the international<br />

BAP board <strong>of</strong> directors—as crucial<br />

experiences on his path to partner. “It<br />

set me apart early on to have those key<br />

leadership opportunities,” he says.<br />

After a summer internship with<br />

EY, Miller started his career in their<br />

Des Moines, <strong>Iowa</strong> <strong>of</strong>fices where he<br />

has remained for the past 18 years<br />

specializing in integrated financial<br />

audits, system and organization<br />

controls reporting, and IT and<br />

operational internal audits. He is a<br />

partner in the technology risk practice<br />

<strong>of</strong> the financial services organization<br />

within EY and leads the financial audit<br />

IT competency, which is supported<br />

by over 500 EY IT auditors across the<br />

country. His position has taken him<br />

around the world—throughout North<br />

America, Europe, and South America.<br />

“Integrity, stewardship, and authentic<br />

leadership are hopefully all attributes<br />

my team members see in me daily,”<br />

says Miller. “My leadership style has<br />

always been to get up early and try<br />

to work harder than many others to<br />

achieve success for the team. As a<br />

partner and key leader <strong>of</strong> many teams<br />

today, I never want to be viewed as<br />

expecting more <strong>of</strong> others than I do<br />

<strong>of</strong> myself.”<br />






Brandon’s wife gifted him a personalized<br />

Hawkeye license plate that reads “HAWKCPA”.<br />


FUN FACT<br />



Anthony Nelson Did Not See This Coming<br />

BY • TOM SNEE<br />

“I’m an accounting type—pretty detailed and focused.<br />

I compartmentalize things, I can look at pass coverages and<br />

stunts and blitz packages and understand they’re separate and<br />

also a part <strong>of</strong> something—which is a big part <strong>of</strong> accounting.”<br />

28 IOWA LEDGER <strong>2022</strong><br />


When he was a student at <strong>Iowa</strong>, Anthony Nelson (BBA18)’s career plan was an accounting<br />

degree from <strong>Tippie</strong>, passing the CPA exam, and getting a job at a Big Four firm.<br />

Instead, he won a Super Bowl.<br />

Mind you, he’s not disappointed by this<br />

unexpected career turn. A linebacker for<br />

the Tampa Bay Buccaneers now entering<br />

his fourth season, he says the NFL has<br />

been a thrill, and the ring he won from the<br />

team’s Super Bowl victory over the Kansas<br />

City Chiefs is something to cherish. (He<br />

keeps it in a safe deposit box so nothing<br />

can happen to it).<br />

He’s played an increasingly important<br />

role in the team’s defense in his first<br />

three seasons and is expected to play a<br />

significant role in his fourth.<br />

Nelson said he was well-prepared for the<br />

rigors <strong>of</strong> the NFL by his three-years <strong>of</strong><br />

experience as a linebacker for the <strong>Iowa</strong><br />

Hawkeyes, and by his experiences in his<br />

<strong>Tippie</strong> classes.<br />

Accounting and playing linebacker<br />

have certain similarities, it turns out.<br />

The people who succeed at both are<br />

analytical, plan-ahead types who know<br />

their circumstance and prepare for all<br />

contingencies.<br />

“I’m an accounting type—pretty detailed<br />

and focused,” he said. “I compartmentalize<br />

things, I can look at pass coverages<br />

and stunts and blitz packages and<br />

understand they’re separate and also a<br />

part <strong>of</strong> something—which is a big part <strong>of</strong><br />

accounting.”<br />

A strong work ethic also helps. He<br />

learned from the academic rigor <strong>of</strong> the<br />

department, the high expectations the<br />

faculty set for the students and their<br />

demand for excellence. He said those<br />

expectations prepared him to work<br />

with Tom Brady, one <strong>of</strong> the greatest<br />

quarterbacks in NFL history who’s famous<br />

for his ferocious work ethic and his<br />

demand for excellence from everyone who<br />

plays with him.<br />

“He carries the same kind <strong>of</strong> high<br />

expectations and demands <strong>of</strong> us<br />

that the pr<strong>of</strong>essors in <strong>Tippie</strong> have for<br />

their students,” he said. The class he<br />

remembers most is managerial accounting,<br />

taught by Lisa Dutchik.<br />

“We were taught how to take all the theory<br />

we’d been learning and apply it to real life<br />

situations, and she made it engaging and<br />

interesting,” he said.<br />

A native <strong>of</strong> Urbandale, <strong>Iowa</strong>, Nelson<br />

graduated from Waukee High School and<br />

came to <strong>Iowa</strong> in 2016. The choice was never<br />

really in doubt. His father, Jeff Nelson<br />

(BS92), a mathematics graduate, played for<br />

Coach Hayden Fry as a defensive lineman<br />

from 1990 to 1992, including the 1991 Rose<br />

Bowl team. His mother Christy (Balster)<br />

Nelson (BBA94) is also a <strong>Tippie</strong> alumna.<br />

“Playing at <strong>Iowa</strong> was my main dream,” he<br />

said. “We were a Hawkeye family, and<br />

I’ve rooted for the Hawkeyes as long as I<br />

can remember. We had Hawkeye stuff all<br />

around the house.”<br />

Nelson even married a Hawkeye in 2021.<br />

Jordyn (Steinkritz) Nelson (BBA18) is also<br />

a <strong>Tippie</strong> graduate and a current member<br />

<strong>of</strong> the college’s Young Alumni Board.<br />

But it was more than just Hawkeye<br />

football that attracted him to <strong>Iowa</strong>. With<br />

the NFL not yet on his radar and the<br />

Big Four his goal, academics were as<br />

important as football.<br />

“I knew I wanted to major in business and<br />

that <strong>Tippie</strong> was a great school that would<br />

provide me with so many opportunities,<br />

so that was an easy decision,” he said.<br />

But after his second season with the<br />

Hawkeyes, he started hearing draft buzz,<br />

and then Coach Kirk Ferentz called him<br />

into his <strong>of</strong>fice and told him that scouts<br />

and agents were looking at him. He told<br />

Nelson that if he ever needed any advice<br />

or someone to bounce ideas <strong>of</strong>f <strong>of</strong>, he was<br />

there to help.<br />

“That’s when I realized the NFL was a real<br />

possibility,” he said.<br />

So he set aside his Big Four dreams and<br />

went pro. He was picked by the Buccaneers<br />

in the fourth round <strong>of</strong> the 2020 NFL draft,<br />

after recording 119 total tackles and 23<br />

sacks as a Hawkeye. He also earned an<br />

accounting degree in just three years, is<br />

on his way to a master’s degree in finance<br />

from <strong>Tippie</strong>, and made the Academic<br />

All-Big Ten team twice, learning time<br />

management skills to keep his GPA up.<br />

“Take an extra class and carve out a few<br />

minutes here or there to get ahead a<br />

chapter,” he said.<br />

Do that and you never know where you’ll<br />

end up. Though for most <strong>of</strong> us, probably<br />

not in the Super Bowl. •<br />


FAMILY<br />


Hawkeye Pride<br />

CONNECT WITH US @<strong>Tippie</strong><strong>Iowa</strong> <strong>Tippie</strong><strong>Iowa</strong> <strong>Tippie</strong> <strong>College</strong> <strong>of</strong> <strong>Business</strong> @<strong>Tippie</strong><strong>College</strong><br />

MARTIN “MJ” D.<br />

MCNULTY, JR. (BBA00)<br />

was named chief operating<br />

<strong>of</strong>ficer and head <strong>of</strong> M&A<br />

at the Acacia Research<br />

Corporation.<br />


MAc21) won a Capstone<br />

Award from the ISCPA for<br />

being a top four scorer in<br />

<strong>Iowa</strong> on the 2021 CPA exam.<br />


MBA13) was named Kum &<br />

Go’s chief financial <strong>of</strong>ficer.<br />

Beckett most recently was<br />

vice president <strong>of</strong> finance<br />

and treasurer at Vertex<br />

S<strong>of</strong>tware, a cloud-based<br />

3D visualization company<br />

based in Ames, <strong>Iowa</strong>.<br />


(BBA14) is an account<br />

director at Shift7 Digital in<br />

Austin, Texas.<br />

AMY CHAN (BBA21)<br />

is a risk and regulatory<br />

associate consultant<br />

specializing in tech and<br />

data with PwC in<br />

Minneapolis, Minn.<br />


is the chief operating <strong>of</strong>ficer<br />

<strong>of</strong> Dully Health and Care.<br />

She was named a <strong>2022</strong><br />

Notable Executive <strong>of</strong> Color<br />

in Health Care by Crain’s<br />

Chicago <strong>Business</strong>.<br />


is the managing director<br />

<strong>of</strong> Lightchain Capital, LLC,<br />

which invests in earlystage<br />

life sciences and<br />

s<strong>of</strong>tware companies. He<br />

is the former COO and<br />

CFO at Scottrade Financial<br />

Services, Inc. where he led<br />

the company’s operations,<br />

technology, finance, and<br />

strategic planning functions<br />

and managed the sale and<br />

merging <strong>of</strong> Scottrade to<br />

TD Ameritrade. Dennison<br />

has been married to fellow<br />

accounting alum AMBER<br />


(BBA98) for 23 years. They<br />

have five children.<br />


MA90) retired as global<br />

head <strong>of</strong> operations from<br />

Columbia Threadneedle<br />

Investments, a division <strong>of</strong><br />

Ameriprise Financial, Inc.<br />

She has since been elected<br />

as independent director<br />

<strong>of</strong> the Federal Home Loan<br />

Bank <strong>of</strong> Des Moines, <strong>Iowa</strong>.<br />


(BBA22) is attending<br />

Roosevelt University to<br />

pursue a Master <strong>of</strong> Science<br />

in Accounting, specializing<br />

in forensics.<br />

TOM KLOET (BBA80) is<br />

chairman <strong>of</strong> the board <strong>of</strong> the<br />

Nasdaq Stock Market.<br />

S.P. KOTHARI (PhD86)<br />

received the <strong>2022</strong><br />

Distinguished Ph.D. Alumni<br />

Award from the <strong>Tippie</strong><br />

<strong>College</strong> <strong>of</strong> <strong>Business</strong> for<br />

his accomplishments and<br />

impact on industry. Kothari<br />

is the Gordon Y. Billard<br />

Pr<strong>of</strong>essor <strong>of</strong> Accounting<br />

and Finance at the Sloan<br />

School <strong>of</strong> Management at<br />

Massachusetts Institute<br />

<strong>of</strong> Technology and is the<br />

former chief economist and<br />

director <strong>of</strong> the Division <strong>of</strong><br />

Economic and Risk Analysis<br />

at the U.S. Securities and<br />

Exchange Commission.<br />


(BBA20) has joined the<br />

<strong>Tippie</strong> Young Alumni Board.<br />

He is a digital assurance and<br />

transparency associate at<br />

PwC in Dallas, Texas.<br />

MATT MORAN (BBA18)<br />

has joined the <strong>Tippie</strong> Young<br />

Alumni Board. He is a<br />

financial advisor associate<br />

at Morgan Stanley Wealth<br />

Management in Davenport,<br />

<strong>Iowa</strong>.<br />


(BBA07) was named to the<br />

list <strong>of</strong> 40 Leaders Under<br />

Forty by the Rockford<br />

Chamber <strong>of</strong> Commerce.<br />

Peterson is senior director<br />

<strong>of</strong> assurance services for<br />

RSM and the current board<br />

president <strong>of</strong> the Rockford<br />

Symphony Orchestra in<br />

Rockford, Ill.<br />

EDITOR’S NOTE: Alumni<br />

updates are submitted by<br />

alumni and are not verified<br />

by the editor. While we<br />

welcome alumni news,<br />

<strong>Ledger</strong> Magazine is not<br />

responsible for the information<br />

contained in these<br />

submissions.<br />


was promoted from senior<br />

tax supervisor to manager<br />

at LattaHarris, LLP in<br />

Durant, <strong>Iowa</strong>.<br />

Your Name Here<br />

(BBA/MBA/PhD)<br />

New job?<br />

New grand/baby?<br />

Retirement?<br />

It’s ok to brag a little.<br />

Send your update to:<br />

tippie.uiowa.edu/update<br />


(BBA16/MAc17) is a senior<br />

accounting analyst at CC<br />

Industries in Chicago, Ill.<br />


was promoted from<br />

supervisor to tax manager<br />

at LattaHarris, LLP in <strong>Iowa</strong><br />

City, <strong>Iowa</strong>.<br />

30 IOWA LEDGER <strong>2022</strong>


University <strong>of</strong> <strong>Iowa</strong> Accounting<br />


(BBA82) received the <strong>2022</strong><br />

Distinguished Service<br />

Award from the ISCPA. She<br />

is president <strong>of</strong> Trevino<br />

Associates, PC CPAs in Fort<br />

Dodge, <strong>Iowa</strong>.<br />


(MBA97) is the chief<br />

data and analytics <strong>of</strong>ficer<br />

at Equifax where he is<br />

responsible for global data<br />

innovation, maximizing the<br />

benefits <strong>of</strong> differentiated<br />

data assets, leading<br />

analytics capabilities, and<br />

using data fabric within the<br />

Equifax CloudTM to drive<br />

new products and growth.<br />

Before Equifax, Schneider<br />

was with Visa as the global<br />

head <strong>of</strong> data products.<br />

BRIAN SCHOON (MAc09)<br />

was named to the Quad<br />

Cities Regional <strong>Business</strong><br />

Journal’s <strong>2022</strong> 40 Under 40<br />

list. He is a senior director<br />

at RSM U.S., LLP.<br />


is the chief <strong>of</strong> staff at<br />

Clarivate. She reports to<br />

JERRE STEAD (BBA65),<br />

the executive chairman<br />

and chief executive <strong>of</strong>ficer.<br />

Shaw was previously the<br />

University <strong>of</strong> <strong>Iowa</strong> Center for<br />

Advancement’s executive<br />

vice president and chief<br />

operating <strong>of</strong>ficer.<br />


MAc02) is a pastry chef and<br />

instructor at the Culinary<br />

Institute <strong>of</strong> America-<br />

Greystone in the Napa Valley.<br />

Her study abroad experience<br />

in Dijon, France sparked her<br />

interest in food and led to her<br />

career shift.<br />

OH baby!<br />


(BBA12/MAc13)<br />

welcomed son Max<br />

Arthur Smith on<br />

March 3, <strong>2022</strong>.<br />


enrolled at the University <strong>of</strong> <strong>Iowa</strong> <strong>College</strong> <strong>of</strong> Law<br />

to study corporate law.<br />

“After experiencing the<br />

impacts <strong>of</strong> unethical<br />

corporate actions<br />

firsthand, it has been<br />

my dream to be a voice<br />

for others. I want to<br />

ensure ethical behavior<br />

in the business world.<br />

My career goal is to<br />

apply my financial and<br />

legal expertise towards<br />

tackling corruption<br />

and helping those in<br />

my community create<br />

financial stability.”<br />

Are you an alum who recently added a baby to your<br />

household? Tell us the news <strong>of</strong> your family’s addition<br />

through our online alumni update form and we’ll<br />

send you a bib! tippie.uiowa.edu/update<br />


(BBA82) was inducted into<br />

the <strong>Iowa</strong> Insurance Hall<br />

<strong>of</strong> Fame. To be eligible for<br />

consideration, nominees<br />

must have an <strong>Iowa</strong><br />

connection, serve as a role<br />

model for young people<br />

as well as others in the<br />

insurance business, exhibit<br />

the highest standards <strong>of</strong><br />

ethical conduct and have<br />

had significant impact on<br />

the insurance industry.<br />

Willadsen is currently<br />

the chief innovation<br />

<strong>of</strong>ficer <strong>of</strong> Holmes Murphy<br />

& Associates, having<br />

previously served as their<br />

chief financial <strong>of</strong>ficer from<br />

1995-2021.<br />

H E R E’S TO<br />

40!<br />

HAPPY<br />


to <strong>Iowa</strong> <strong>Ledger</strong><br />

magazine,<br />

which began<br />

publishing in<br />

1982!<br />


FAMILY<br />

In Memoriam<br />

Henry B. <strong>Tippie</strong><br />

Jan 5, 1927 - Feb 20, <strong>2022</strong><br />

Henry B. <strong>Tippie</strong> (BSC49), accounting alum and one <strong>of</strong> the university’s most<br />

significant supporters and benefactors, has died at the age <strong>of</strong> 95.<br />

During his lifetime, <strong>Tippie</strong> traveled from<br />

the fields <strong>of</strong> <strong>Iowa</strong> to Wall Street to a Texas<br />

ranch, thanks to hard work, integrity,<br />

and generosity, which is reflected across<br />

campus—from the Henry B. <strong>Tippie</strong> <strong>College</strong><br />

<strong>of</strong> <strong>Business</strong> to the dozens <strong>of</strong> <strong>Tippie</strong>endowed<br />

research and faculty positions<br />

and the hundreds <strong>of</strong> students who have<br />

graduated with the help <strong>of</strong> Henry B. <strong>Tippie</strong><br />

scholarships.<br />

<strong>Tippie</strong> grew up on a farm near Belle<br />

Plaine, <strong>Iowa</strong>, and attended a one-room<br />

schoolhouse through the eighth grade.<br />

He enlisted in the U.S. Army at 17 and<br />

32 IOWA LEDGER <strong>2022</strong><br />

spent time in Guam at the end <strong>of</strong> World<br />

War II. After the service, he attended the<br />

University <strong>of</strong> <strong>Iowa</strong> on the G.I. Bill, earning<br />

his accounting degree in just three years.<br />

He married Patricia Bush and they had<br />

three children (Henry II, Linda, and<br />

Helen), nine grandchildren, and 11 great<br />

grandchildren. They celebrated their 65-<br />

year anniversary last year.<br />

In 1953, he secured a job with John and<br />

Wayne Rollins in Delaware. <strong>Tippie</strong>’s<br />

business acumen and advice helped the<br />

Rollins family businesses expand and<br />

grow exponentially. Today, Rollins Inc.<br />

is a publicly traded Fortune 1000 firm<br />

and there are five Rollins-associated<br />

businesses listed on the New York Stock<br />

Exchange.<br />

“Henry B. <strong>Tippie</strong> is an <strong>Iowa</strong> success<br />

story,” says Dean Emeritus Gary Fethke.<br />

“Optimism, conditioned on reality, was<br />

ever present with Henry, and he really<br />

believed that ‘every day is a new day.’<br />

He was a plain man who achieved great<br />

things, thoroughly enjoyed his life,<br />

appreciated his friends, loved his wife, and<br />

made the world a better place.”

Ardwin Joseph (Joe) Droessler<br />

Feb 25, 1963 - Dec 7, 2021<br />

Kermit D. Larson<br />

Apr 7, 1939 - Mar 7, <strong>2022</strong><br />

Joe Droessler (BBA85/MA86),<br />

supporter <strong>of</strong> the <strong>Tippie</strong> Gateway<br />

Program, has died at the age <strong>of</strong> 58.<br />

He was born in Dubuque and attended<br />

the University <strong>of</strong> <strong>Iowa</strong> where he met his<br />

wife <strong>of</strong> 30 years, Michelle. They had two<br />

children, Jake and Hannah.<br />

Droessler began his career in <strong>Iowa</strong> as a<br />

public accountant before moving to the<br />

greater Chicago area. He was the senior<br />

director <strong>of</strong> trading at E*TRADE Capital<br />

Markets for 16 years before becoming<br />

vice president <strong>of</strong> trading operations in<br />

2009. Most recently, he was the chief<br />

operating <strong>of</strong>ficer <strong>of</strong> G1X Execution<br />

Services.<br />

Among other charitable activities,<br />

he was a mentor and donor to the<br />

<strong>Tippie</strong> Gateway Program, which<br />

assists populations underrepresented<br />

in business with their applications,<br />

transition to college, and provides<br />

mentorship and scholarships. Droessler<br />

also helped coordinate and encourage<br />

<strong>Tippie</strong> students to apply for scholarships<br />

through the Security Traders<br />

Association <strong>of</strong> Chicago.<br />

Kermit Larson (BBA62/MBA63),<br />

University <strong>of</strong> Texas emeritus pr<strong>of</strong>essor,<br />

passed away at the age <strong>of</strong> 82.<br />

He was born in Algona, <strong>Iowa</strong> and<br />

attended Fort Dodge Junior <strong>College</strong><br />

before attending the University <strong>of</strong> <strong>Iowa</strong>.<br />

He later earned his Ph.D. in accounting,<br />

finance, and economics from the<br />

University <strong>of</strong> Colorado, Boulder.<br />

Larson married his high school<br />

sweetheart, Nancy Weber, and they had<br />

three children (Julie, Tim, and Cindy),<br />

seven grandchildren, and one great<br />

grandchild.<br />

Larson dedicated much <strong>of</strong> his working<br />

life to teaching and writing. He joined<br />

the UT faculty in 1966, where he taught<br />

for more than 30 years in the accounting<br />

department, served as department chair,<br />

and authored several widely circulated<br />

textbooks. He was also national vice<br />

president <strong>of</strong> the American Accounting<br />

Association, president <strong>of</strong> the Richard D.<br />

Irwin Foundation, and was a member <strong>of</strong><br />

several committees <strong>of</strong> the AACSB.<br />

“We want to communicate our pr<strong>of</strong>ound<br />

thanks to Joe’s family and everyone<br />

who has donated to the <strong>Tippie</strong> Gateway<br />

Program in his memory,” said program<br />

coordinator Mark Archibald.<br />


Department <strong>of</strong> Accounting<br />

108 John Pappajohn <strong>Business</strong> Bldg.<br />

<strong>Iowa</strong> City, IA 52242-1994<br />

PAC to class<br />

ACCT:2100 from the back row. On September<br />

22, the Pr<strong>of</strong>essional Accounting Council spoke<br />

to Introductory Financial Accounting students<br />

at Macbride Hall. When these C-suite executives<br />

were asked if they used to sit in the front row, zero<br />

raised their hands. Where did you used to sit?<br />

The University <strong>of</strong> <strong>Iowa</strong> prohibits discrimination in employment, educational programs, and activities on the basis <strong>of</strong> race, creed, color,<br />

religion, national origin, age, sex, pregnancy, disability, genetic information, status as a U.S. veteran, service in the U.S. military, sexual<br />

orientation, gender identity, associational preferences, or any other classification that deprives the person <strong>of</strong> consideration as an<br />

individual. The university also affirms its commitment to providing equal opportunities and equal access to university facilities. For<br />

additional information on nondiscrimination policies, contact the Director, Office <strong>of</strong> Institutional Equity, the University <strong>of</strong> <strong>Iowa</strong>,<br />

202 Jessup Hall, <strong>Iowa</strong> City, IA 52242-1316, 319-335-0705, oie-ui@uiowa.edu. W006985

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!