Spears School alumnus receives coveted accounting award
Monday, February 7, 2011
“There were more than 93,000 individuals who took the exam,” said Bud Lacy, an associate professor of accounting in the Spears School and one of Wagner’s former teachers. “Though there were several tied scores and 15 candidates actually received the award, you can do the math if you want to, but – let me tell you – getting one of the ten highest scores is a really big deal!”
Lacy said the CPA exam is brutal, taking a total of 14 hours to complete and covering four broad topics: auditing and attestation; business environment and concepts; financial accounting and reporting; and regulation. The national average pass rate for first-time undergraduate candidates successfully completing all four parts of the exam is approximately 10 percent, while the average pass rate for any one part is 30 percent, Lacy said. Though these rates are slightly higher for graduate candidates, Lacy said it is impressive simply to complete all four parts of the exam on the first attempt. Wagner received a 93 percent on one section and earned a 99 percent on the other three.
“I’m very honored to receive this award,” Wagner said. “It reflects positively on both me and OSU. I would definitely say that my education at OSU was the foundation for my success.”
OSU’s School of Accounting is celebrated for helping its students succeed on the CPA exam, despite the exam’s well-known difficulties. In 2008, the School of Accounting started a CPA Exam Review class as an optional course for their graduate degree. Since then, the pass rate per part attempted for these students has averaged almost 90 percent.
In addition, six other OSU students who took the course have earned gold or silver medals from the Oklahoma Accountancy Board for their outstanding scores on the CPA exam. While the AICPA gives the Elijah Watt Sells Award to the top ten national, cumulative scores each year, the OAB medals are given to candidates who earn the highest cumulative score and take all four parts of the test during a certain number of windows. A window is a two-month examination period in any given quarter. A gold medal winner completes the entire exam in just one window, and a silver medal winner finishes it over a two-window period. In 2010 alone, two OSU students, Lauren Gorman and Anne-Marie Lelkes, earned gold medals, while a third student, Dawn Kruckeberg, received a silver medal.
“I think the whole thing is really exciting,” Lacy said. “Our students have become so successful. They’ve exceeded even our wildest dreams. Jesse is the first student from Oklahoma to receive this award, and we are thrilled. It’s amazing to have any student earn such an honor, and I’m glad to be a part of such a helpful, life-changing experience.”
Wagner has moved back to Jenks, Okla., and is now working in tax services at Ernst & Young LLP's Tulsa office. She is the daughter of OSU alumni Robert and Pam Wagner and enjoys volunteering with Junior Achievement and serving in her local church, LifeChurch of South Tulsa.
For more information about Wagner’s award or the OSU School of Accounting, call 405-744-5123 or send an e-mail to osu-soa@okstate.edu.