Audit, tax and advisory firm KPMG LLP has named University of Kentucky professor Jeff Payne, KPMG Professor in the Von Allmen School of Accountancy in UK’s Gatton College of Business and Economics, as the 2019 KPMG James Marwick Professor-In-Residence.
Payne believes accounting students should understand the opportunities that technology provides in improving financial statement audits, but also importantly, the new risks that are created by their use.
“As an accounting professor, it’s important to expose my students to new and emerging technologies that may impact audit processes,” said Payne, who incorporates IDEA, Tableau, and other data manipulation software programs into his courses. “This lays a foundation for future learning, helping them understand that technology will continue to evolve, and that they will need to evolve along with it. They are on a continual learning paradigm.”
Payne represents the fourth academic to hold the Marwick professorship. His academic research focuses on financial accounting and auditing topics, and he teaches graduate courses in auditing, fraud examination and IT auditing. While at KPMG, Payne will research innovative ways to collect audit evidence with advanced technologies.
The KPMG James Marwick Professor-in-Residence program offers academics an insider’s view of the profession’s evolution, helping them adapt their curriculum to better prepare future leaders while also giving them an appreciation of the work required to meet regulatory expectations.
“The program is a concrete example of our firm’s culture of learning and how we are seeking innovative ways to enhance audit quality,” said Jackie Daylor, National Managing Partner - Audit Quality and Professional Practice. “With his extensive background in auditing and support of the use of data and technology in the audit, Jeff is well-positioned to embed the innovative thinking required for auditing in the future in his students.”
Established in 2017, the KPMG James Marwick Professor-in-Residence program focuses on evolving innovation opportunities and understanding challenges in the audit profession. It helps academics understand the technical, regulatory, and innovation challenges affecting the audit profession. The program benefits the accounting profession and firms like KPMG by helping students become future ready before they enter the job market. The professorship was named in honor of James Marwick, the “M” in KPMG, an accounting pioneer committed to the highest standards of professionalism and integrity.