Canisius Student Selected for Prestigious Postgraduate Position with Financial Accounting Standards Board
Buffalo, NY - The Financial Accounting Standards Board (FASB) has selected Lauren Reno, of Harbor Springs, MI, for its prestigious Postgraduate Technical Assistant (PTA) position, which will begin in winter 2021.
Reno will earn her master's degree in business administration (MBA) from Canisius in May 2020. She earned an undergraduate degree in accounting from Canisius College in 2019. Reno is the second consecutive Canisius student, in as many years, to be selected for the Postgraduate Technical Assistant position.
The PTA position is designed for individuals who are planning a career with an emphasis in accounting. Each program is a one-year term, during which the individual becomes highly involved with the accounting standards-setting process and acquires an in-depth understanding of the roles played by preparers, auditors and users of financial information.
"We are extremely proud of Lauren, as this is an extremely competitive position to secure," says Ian Redpath, JD, LLM, chair of the Accounting Department at Canisius College. "Such a strong outcome for one of our students speaks directly to the challenging accounting curriculum at Canisius and the dedicated faculty who facilitate the program. It is truly one of the premier programs in the country."
Redpath explains that candidates of the PTA program must be nominated by a member of their university accounting department and have 1) recently completed a graduate degree or be in the process of receiving their graduate degree OR 2) have completed a double major or be close to completing a double major. Candidates must also have an outstanding academic record, strong oral and written communication skills, and have completed course work that provides a thorough knowledge of accounting theory and practice.
Once Reno begins her PTA in winter 2021, she will be assigned to major agenda projects or to short-term practice and implementation issues, depending on the need for staff assistance. She will be involved in all phases of her assigned project(s), including analyzing written submissions received on documents issued for public comment, reviewing and analyzing published research, preparing memorandums on technical issues for FASB members' information, drafting due process documents and evaluating accounting proposals for other organizations.
Established in 1973, the Financial Accounting Standards Board is an independent, private-sector, not-for-profit organization based in Norwalk, CT, that establishes financial accounting and reporting standards for public and private companies and not-for-profit organizations that follow Generally Accepted Accounting Principles.
The Canisius College Accounting Program is housed in the Richard J. Wehle School of Business and accredited by the Association to Advance Collegiate Schools of Business (AACSB), a benchmark for business school quality. The BS in accounting is the only Western New York program and one of only two programs in New York State to be ranked in U.S. News & World Report's 2019 list of Best Undergraduate Business Programs. The peer ranking placed Canisius in the top 6 percent of all institutions to be ranked nationally (out of 418 colleges and universities).
Canisius accounting graduates are also top performers on the New York State CPA exam. During the 2018 exam cycle, Canisius students scored second overall in New York State among large-sized accounting programs. Job placement for Canisius accounting majors is consistently at or near 100 percent.
One of 27 Jesuit universities in the nation, Canisius is the premier private university in Western New York. Canisius celebrates its sesquicentennial anniversary during the 2019-20 academic year, marking 150 years of Jesuit education and leadership in the city of Buffalo and Western New York. Visit www.canisius.edu/150 for more information about Canisius’ milestones and celebratory events.