To really understand how business works, you must understand accounting. It’s a truism that the University of Delaware’s Professor of Accounting Carolyn Levine uses to underscore the importance of this field with her students. The U.S. Bureau of Labor and Statistics predicts the need for accountants and auditors to grow 6% from now until 2033.
Levine, who serves as the chair of the Accounting and MIS Department at the Alfred Lerner College of Business and Economics, is passionate about making sure UD accounting majors realize the critical role accounting plays as the backbone of business. Lerner accounting professors prepare majors to be problem solvers, strategic thinkers and trusted advisors who provide essential information for markets to operate smoothly.
The work of the professors in the Accounting and MIS department continues to pay off. This year, three UD accounting students were recognized as PCAOB Scholars by the Public Company Accounting Oversight Board for the 2024-25 academic year. Overall, a record number of 676 students were recognized across the U.S. The PCAOB regulates the audits of public companies and SEC-registered brokers and dealers in order to protect investors and further the public interest in the preparation of informative, accurate and independent audit reports.
“The PCAOB’s award is the best combination of grant and merit scholarship – we look for students who have outstanding performance in their accounting coursework and for whom the award would have the greatest financial impact,” Levine said.
This marks the first time that UD has had this many students recognized. The students, senior accounting majors Lindsey Hallett, Christopher Soelaiman and Ritu Patel, were awarded $15,000 each. All of the students were nominated by Levine, Debra Dragone, senior instructor of accounting, and Jeff Gillespie, academic advisor and retired professor of accounting. Since the award was offered in 2011, 10 Lerner College students have received this competitive scholarship.
“I was shocked, appreciative and honored to have been nominated for this,” said Hallett, who is a transfer student from Middletown, Delaware. “I’ve only been at UD for a short amount of time because I transferred from Delaware Technical Community College. Last year was actually my first year here at UD.
“It made me feel so proud to receive that nomination, I wasn’t expecting anything like that at all. I was happy that my work is recognized in the short time that I’ve been here. I’m just so glad that I chose this program and I’m super grateful for the award.”
Soelaiman grew up in Indonesia and now calls Bear, Delaware his home, moving in with his aunt and uncle when he was in eighth grade. He’s self-funding his education so the award came at the right time. “It feels amazing to win the award. It was like some weight had been lifted off my shoulders. I didn’t know it existed until Dr. Levine nominated me.”
Patel, who also has a business analytics minor, is from Wilmington, Delaware.”I was happy to be nominated, but I didn’t think I would get this national award. I was excited and shocked.”
Patel and Soelaiman both noted Levine and Dragone’s one credit class, The Accounting Experience, they took in their sophomore year which made them aware of all the opportunities the accounting industry had to offer. Students were able “to develop a personal connection with accounting professionals and the content was tailored to our class,” said Soelaiman. “It was a great class, we were able to talk to the recruiters one on one.”
Patel was able to land an internship with EY, which had presented in a class. Soelaiman realized he had an affinity towards international tax through his internship with PwC.
Hallett capitalized on her first-year experience and made the most of the career fairs offered at UD. She landed an internship with W.L. Gore and Associates at Meet the Firms, an event sponsored by Lerner Career Services. “I didn’t know they had internship opportunities for accounting majors at a manufacturing engineering company,” said Hallett. “The event was super helpful.”
All of the UD PCAOB Scholars are looking forward to earning their CPAs.
Problem Solving and Critical Thinking
Hallett has always been drawn to using numbers and data. In high school, she chose to study a finance pathway. “I thought numbers and data were pretty cool,” she said. At Delaware Technical Community College, she majored in business administration, taking the general business requirements. That’s where she found her love of accounting.
“I really enjoyed and did well in my accounting classes and that’s why I chose to pursue this major (at UD),” said Hallett.
This past summer, Hallett interned at W.L. Gore and Associates in Newark, where she did a rotational accounting internship.”I got a lot of experience in different areas like general ledger, accounts receivable/credit and collections, and treasury. That also solidified my desire to pursue a career in this field.”
Hallett values the connections she’s made with professors Dragon and Joan Fico, assistant professor of accounting. ”I feel like they really just want to help you succeed.
“There’s so many different areas of accounting and there’s a variety of classes that you need to take,” continued Hallett. ”I also joined student organizations such as the Accounting Student Association and the Blue Hen Economics Club. It’s helped me learn to network with professionals and other students.”
While some of her friends may think accounting is boring, repetitive work, Hallett begs to differ. “There is some of that with month-end tasks, but if you really look into all things that accounting can offer you like audit, tax or advisory services, I feel like there’s a lot of high-level problem solving that you need to do and it requires a lot of critical thinking and problem solving skills.”
What’s next for Hallett after the CPA? “I’d like to take the opportunity once I get into my career to give back and give students the feeling that I have now: appreciation and realizing that your hard work will get recognized.”
The Changing Role of Accounting
Accounting runs in Soelaiman’s family. His mom is an accounting professor in Indonesia. “Anytime I have a problem in accounting, I can ask my mom for help,” he said. “I like it. It’s a very complex area where you can learn a lot, and that’s what ultimately kept me in it, especially international tax. All of the work is essentially analysis.”
Soelaiman found learning how to apply the Internal Revenue Code (IRC) essential. The IRC is the body of law that codifies all federal tax laws, including income, estate, gift, excise, alcohol, tobacco and employment taxes.
“With the IRC, you have to understand what the code is, and what will work and what’s not allowed,” he explained. At his internship with PwC this past summer, his team worked with clients on international tax issues. “Our team was responsible for analyzing the code and how it relates to the problem or issue at hand for the client.”
Soelaiman heard about the internship when a PwC senior manager came to Lerner’s Accounting Experience class. “Hearing about the manager’s journey, and the fact that he was a UD alumnus, made me confident in my choice to go into international tax.”
During his internship, Soelaiman used AI and Chat GPT, which PwC modified for its business. “The model is secure and trained on specific contents that relate to the firm and the profession, so you get better answers and better help. I thought it was so cool because you could ask for help with anything on the job essentially.”
He also experienced how AI has made the business more efficient, by being programmed to take on repetitive tasks. “The role of an accountant has changed, whereas in the past, you would be doing the same thing over and over again. But now the most important part of being an accountant is analyzing.
“If you like critical thinking, you like challenges, you like problem solving then accounting is definitely the way to go.”
Soelaiman is especially grateful for the accounting program, his professors and his aunt and uncle who welcomed him into their home.
“I’ve had great experiences,” he said. “I’ve learned a lot and I’ve also learned that if you do the work, you’ll 100 percent get the result that you want.”
Landing the Job
Like Hallett, Patel discovered that she had an affinity towards numbers in high school and chose accounting as a career path. However, when she applied to UD, she applied as a finance major. After her first semester, she realized that accounting was more specific and made the switch.
“Taking classes, I’ve learned that accounting is more than doing tax returns,” Patel said. “You can be an auditor, you can get to go to a client site, you build connections with clients and you learn about different industries.
“I’m learning about different fields. A friend of mine worked with a real estate client and I was working on a client in medical tech. It is really great.”
Patel credits the accounting professors for going above and beyond to help students succeed. “They really try to make sure that you’re getting internships, that you really understand the material for your CPA. They work with your schedule, they work with you and they want to make sure that when you get out of school that you succeed.
“I don’t think I would have gotten my internship with EY without their support.”
Patel didn’t know if she wanted to go into tax or auditing, which is a very big decision. She consulted with Dragon, who in turn helped Patel with her choice.
“This summer, I interned at EY in assurance practice,” said. Patel. “I really liked it and was offered a position once I graduate to continue at EY in the assurance practice.”