On September 13, 2007, Mason School of Business accounting students, alumni and faculty members joined recruiters for the annual Wayne F. Gibbs Accounting Society dinner.

Keynote speaker Donald M. Young, a member of the Financial Accounting Standards Board (FASB), delivered a challenge to the profession to better serve investors. He cited a survey reporting that investors felt that the FASB was more closely aligned with auditors than with the investing public. Young predicted an increased involvement from investors in the standard-setting process and discussed some of the exciting upcoming challenges for the accounting profession.

So what does he recommend for students today? In a one-on-one interview with McKenzie Dodd, president of the Gibbs Society, Young recommended that today’s student should "put more focus on financial instruments, financial markets, financial services and other related areas of study." Young said, "I really think that the industry is going through a fundamental change. The function of accounting is going to be more challenging, more demanding, and the profession is going to offer greater opportunities for value creation."

What did the students think of the evening? "Don Young was an absolutely engaging speaker," says MAcc student Heather Callaway. "The evening was a rare opportunity [for me] as a student to actually hear from someone who is on the front lines, shaping the future of financial reporting."

The Gibbs Society is grateful for the sponsorship of the event by the following firms: Cherry Bekaert & Holland; Deloitte; Ernst & Young; Goodman & Company; Johnson Lambert; Keiter Stephens Hurst Gary & Shreaves; KPMG; McPhillips Roberts & Deans; Protiviti; PricewaterhouseCoopers; Veris Consulting; and Yount, Hyde & Barbour.