January 2001

NYSSCPA and Academy of Finance Sign Memorandum of Understanding

As part of its ever-growing effort to introduce more students to the accounting profession, the New York State Society of CPAs is joining with the New York City Academy of Finance to promote careers in accounting and finance to high school students.

The Society and the Academy signed a memorandum of understanding in December, stating that the two would work together in reaching out to high school students throughout New York state to encourage them to pursue careers in accounting and financial services.

The Academy is a learning community comprised of groups of public high school students. Academy students take career-oriented finance classes from a team of teachers for two to four years.

The students also benefit from outside resources provided by partnerships with employers, the community, and local colleges that bring outside resources to the high school to improve student motivation and achievement.

The Society is planning to reach out to Academy students throughout the state—including areas such as Albany, Buffalo, Middletown and New Hyde Park—by holding career days and providing guest speakers.

While December’s agreement is a new one, both organizations have worked together in the past.

“The New York City Academy of Finance has worked closely with the NYSSCPA for a number of years,” said Assistant Director of the New York Academy of Finance, Ken Deaner. “Our students attend two annual career days at the headquarters of the Society, and our students are active participants in the Society’s COAP program run in conjunction with Pace University.”

Deaner also pointed out that NYSSCPA members lead seminars at the Academy’s annual conference at Baruch College and that Society Executive Director Louis Grumet has said that the Society would like to expand its educational services to other Academy programs in New York state.

“I suggested that John Ferrandino, president of the Academy’s parent organization, NAF [National Academy Foundation], would be the perfect collaborative partner in such a venture,” Deaner said.

Ferrandino and Grumet made the collaboration official by signing the agreement. During the meeting, both men commented on how the partnership would shape the future.

“It’s a little-known fact amongst high school students that there are diverse career paths within the field of accounting,” said Ferrandino. “A partnership with the NYSSCPA will expose Academy students to the wide range of options—in public and private accounting, and in virtually every industry—when they are just starting to think about their futures. We look forward to working together to enhance NAF’s efforts to promote career education and college preparation for hundreds of young people in New York state.”

“I think this is an important step to help solidify and diversify the future of our profession,” said Grumet. “We have a chance to make a tangible difference in a high school student’s future career choice, and this is a great opportunity for Society members all over New York state to get involved and make an impact on our youth.”

“I look forward to the continued expansion of programs to make the youth of the city and state aware of the many opportunities which accounting offers as a profession,” Deaner said. “When we met, the chemistry was perfect.”