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Norbert Tschakert is ´ºÃÎÖ±²¥â€™s first Gassett-Schiller ’83 endowed chair in accounting and finance and is an associate professor in the Bertolon School of Business.

                                                     

First, congratulations on being named the university’s first Gassett-Schiller ’83 endowed chair in accounting and finance. Where were you when you heard the news and what does this appointment mean to you?

Thank you for the congratulations! I was in my office working on a research paper when our dean Linda Nowak came in and told me about the appointment.

I am very excited and appreciative about this appointment as it allows me to further the breadth and scope of my research. It will also result in better research and teaching opportunities for my colleagues as we will be able to subscribe to additional databases - some of which are used by accounting firms - and will lead to a better preparation of our students. We also will be able to hire student research assistants, present our work at more conferences, and better support student initiatives on campus.

How did you become interested in accounting? What excites you about the field?

I always understood that accounting is the language of business. I was then blessed with very engaged accounting professors at an exciting time when accounting rules changed dramatically in Europe as international standards were adopted. This transition was also the topic of my PhD thesis.

What is exciting about the field is that after hundreds of years, accountants are still looking for the best accounting rules. That is harder than it looks at first. Also, few areas have such a versatility as students can specialize to work as cost accountants, auditors, tax accountants, forensic accountants, governmental accounting, and much more. Accounting is always in high demand and it is also a prerequisite for top management positions.

I understand that you spent a few years working for PricewaterhouseCoopers and Sempra Energy before moving into academia. Could you talk a little bit about your professional journey and what brought you to Salem State?

My professional experience is very valuable for my teaching as it allows me to relate the theory to practice. In my professional career, I was able to work on mergers and acquisitions projects, internal and external auditing engagements, as well as a number of industry specific projects.

What convinced me about Salem State was the strong leadership and the aggressive development plans that were underway when I started in 2011 - almost all of which materialized. Students often do not realize that faculty is working very hard behind the scenes to facilitate such long term growth and we have many more goals for the business school and university. I always enjoyed working in such a dynamic and ambitious environment.

What inspires you about teaching?

It is very rewarding for me to see my students work through their various challenges and ultimately grow into successful graduates and professionals. I often see my former students at our annual alumni dinner or as recruiters at our meet the firms event. They are always excited to share their experience and success from practice and can frequently relate to their classes, so this is very inspiring for me.

What are your research interests and how do they contribute to your teaching?

My research is focused on auditing and forensic accounting.  I am specifically interested in better understanding the fraud risk indicators or ‘red flags’ that companies and auditors can use to detect frauds early. If this could be improved, both fields would benefit. I am in the lucky position that I also teach courses in these areas so there is a lot of overlap between my research and teaching. 

What book are you reading now?

I am currently reading The Reckoning: Financial Accountability and the Rise and Fall of Nations by USC History Professor Jacob Soll.  Soll provides proof that it is accountants that rule the world and that a lack of accounting knowledge (and corresponding accountability) can have dire consequences for entire nations. The recent financial crisis is just one example of this.

Is there a book that has made a particular difference in your life that you would recommend to others?

A book I recommend to others, particularly students, is Don’t just Dream About Success: Stack the Odds in your Favor, written by University of Richmond Accounting Professor Joe Hoyle. It has the benefit of being very short and it provides very valuable advice on how to achieve goals. In his book, Hoyle often provides examples relating to the university setting, so it is an enjoyable read for students.