On September 1, 2021 the American Nurses' Association called for the Department of Health and Human Services to declare a national nurse staffing crisis. Nurses provide 90% of all care to patients in hospitals. Images from the pandemic brought the work of nurses into the spotlight – nurses were rightly deemed heroes – and in fact, they and other healthcare providers worked at great risk to their own health and that of their families.
By Rhonda Maneval, EdD, RN
Pace University
November 17, 2021
Thank you Chairman Gottfried, Chairwoman Glick, Chairwoman Joyner, and committee members for this opportunity to speak with you about the critical nursing and nursing faculty shortages that have been exacerbated by COVID-19, its impact on quality patient care, and opportunities to help alleviate the problem. My name is Rhonda Maneval and I am a professor of nursing and serve as the Vice Dean for the College of Health Professions and the Lienhard School of Nursing at Pace University. My career as a nurse spans over 35 years and includes working in acute care hospitals, teaching nursing students, and leading nursing programs. Our goal at Pace is to be at the forefront of creating opportunity for our highly diverse student body. With campuses in Lower Manhattan and Westchester, we are leaders in healthcare education, practice, and scholarship offering degrees in Nursing, Physician Assistant, Occupational Therapy, Speech/Language Pathology, Health Science, and Nutrition.
According to the NYSDOH by 2030 there is a projected shortage of more than 39,000 registered nurses (RN) in New York. This report was released in August 2020, prior to the pandemic; we know that the pandemic has accelerated the exit of nurses near retirement age, and many have left or are planning on leaving the bedside or changed careers as a result of stress and burnout. On September 1, 2021 the American Nurses' Association called for the Department of Health and Human Services to declare a national nurse staffing crisis. Nurses provide 90% of all care to patients in hospitals. Images from the pandemic brought the work of nurses into the spotlight – nurses were rightly deemed heroes – and in fact, they and other healthcare providers worked at great risk to their own health and that of their families. At Pace, at the height of the pandemic, a Family Nurse Practitioner who served as a preceptor for our students for many years died in an ICU bed on a ventilator after contracting COVID-19; she was 59 years old. Members of our nursing faculty became ill with COVID-19; and two are now “long haulers” – continuing to experience severe after effects of the disease on their health. Three of our most seasoned faculty decided to retire earlier than originally planned due to the pandemic – leaving an “experience gap” that impacts the school and our students.
Over the past few months, I have met with numerous chief nursing officers from NYC and Westchester County healthcare agencies, all of whom voiced deep concern about current and pending severe staffing shortages. These meetings focused on ways our school could provide more practice-ready graduates.
The good news is that, despite the pandemic, or because of it, people want to become nurses. We have worked diligently to increase enrollments in our pre-licensure RN and graduate nursing programs to attempt to keep up with student and employer demand. However we, like many other schools of nursing in NYS and nationally, are limited by our ability to expand further due to a lack of classroom and laboratory space, lack of clinical placements, and lack of qualified faculty. We cannot accept more students, no matter how qualified, if we cannot deliver on our promise of a high quality education. The American Association of Colleges of Nursing (AACN) reported that over 80,000 qualified applicants were turned away by member schools. I believe, Schools of Nursing need long-term investments if we are to expand enrollments to meet NYS nursing workforce demands. This includes expanding options for clinical placements, loan forgiveness for nursing graduates who want to teach, infrastructure support to expand facilities, and tax incentives for preceptors and for nurses with graduate degrees and retired nurses to become nursing faculty. Today I want to focus on two strategies—expanding the use of simulation and incentivizing healthcare professionals to serve as preceptors and to become faculty.
The COVID-19 pandemic caused many nursing schools and health professions’ programs to cancel direct care clinical experiences and students moved to virtual learning. In 2020, at the height of the pandemic, NYSED permitted clinical programs to pivot to remote learning. This was critical to keeping programs open. Classes quickly adjusted from in-person to remote learning formats. Faculty faced steep learning curves and had concerns regarding the effectiveness and sufficiency of remote learning to prepare students for clinical practice. What we learned early on, was that high quality virtual reality simulation and telehealth visits were very effective alternatives. Later, when clinical sites were still not open to students, but our laboratories reopened – intensive simulation experiences proved highly effective and allowed faculty to objectively measure student competency prior to graduation.
What we learned during this time has the potential to help us create new strategies to address a major roadblock to increasing enrollment in nursing programs – a lack of clinical placement opportunities. I want to be clear – direct patient care experiences are essential to educating the nursing workforce – but simulation can help us in ways that actually improve overall clinical education. Often students are not permitted to do even basic procedures on patients – giving IV medications, documenting in the medical record, drawing blood, or the opportunity to make clinical decisions. By placing students in simulated patient care situations, students can perform the entire range of nursing activities under the direction of faculty. The simulations build confidence in our students while they are being evaluated on competency.
We urge NYSED to permit Schools of Nursing to allow simulation hours to count towards required program clinical hours, as laid out in S.6717 / A.7767. This would expand clinical experience capacity while providing meaningful learning experiences, without sacrificing quality. It would also help ease the bottleneck created by a lack of clinical spots, especially for nursing students.
In addition to expanding the use of simulations, we must work on other fronts to address the need for more preceptors and faculty to increase the pipeline of nurses and other health care professionals.
Pre-licensure baccalaureate nursing programs, nurse practitioner and physician assistant programs all rely on preceptors to provide hands-on patient care experiences for students. Our ability to educate more providers is hampered due to a decline in professionals willing to precept students. Though some schools have resorted to paying providers to take students, this unnecessarily drives up the cost of programs, and that cost is passed onto students. Prohibitive costs dissuade prospective students and further exacerbates the shortage of providers. The Clinical Preceptor Tax Credit Act, as laid out in S4229 / A285, will incentivize experienced providers to precept health professions’ students, allowing for expansion of enrollment in these programs.
We also need strategies to address the shortage of faculty. Without more faculty we cannot effectively produce enough graduates. Loan forgiveness programs for nurses who want to teach, scholarships for nurses to return for graduate education, and tax incentives for nurses and retired nurses to join nursing school faculty are all possible strategies.
In closing, I am immensely proud of our faculty, students, and graduates who have persevered through this unprecedented and difficult time. We now have an opportunity to take what we have learned and create a new strategy moving forward to ensure a healthy pipeline of healthcare providers for NYS. The goal is universal – healthy communities for a healthy NY.
Thank you again for the opportunity to speak with you today and I will be happy to answer any questions.
Professor Erika George delivered the Annual Lloyd K. Garrison Lecture on Environmental Law on Monday, November 15, on "Incorporating Human Rights: Corporate Responsibility, Equity, and Just Environments."
Professor Erika George delivered the Annual Lloyd K. Garrison Lecture on Environmental Law on Monday, November 15, on "Incorporating Human Rights: Corporate Responsibility, Equity, and Just Environments." The Lloyd K. Garrison Lecture on Environmental Law was established in 1995 in memory of Lloyd K. Garrison, a pioneer in the field. Professor Erika George is the Samuel D. Thurman Professor of Law at S.J. Quinney College of Law at the University of Utah.
Smita Narula, Haub Distinguished Professor of International Law, a fellow colleague and long-time friend since law school, had the pleasure of introducing Professor George, a respected scholar and an expert on international law and human rights. Having attended many of her lectures, Professor Narula commented that Professor George “consistently elevates the caliber of the conversation and seamlessly weaves and uplifts the contributions of others into her dialog. She is a dedicated teacher and a thoughtful and generous scholar. She is celebrated by her students and deeply committed to teaching as a craft. We are honored to have had her deliver our Annual Garrison Lecture on Environmental Law.”
Professor George’s lecture focused on the necessity and obligation to incorporate human rights into corporate responsibility. “There are no rights recognized that are not impacted by the business practices and policies of global capital,” she said.
“There are no rights recognized that are not impacted by the business practices and policies of global capital.”
She noted that the United Nations Sustainable Development Goals cannot be achieved without private sector participation and that the United Nations Guiding Principles on Business and Human Rights call on business enterprises to respect human rights by addressing adverse environmental and human rights impacts related to business operations. Shareholder activism and actions by institutional investors has been successful in progressing environmental and human rights initiatives. For example, “Exxon experienced a shock when they lost two board seats to an upstart hedge fund, Engine No. 1. In years previous, they lost a proposal to the New York State Pension Fund requiring reporting on climate change and greenhouse gas emissions.”
Professor George projects that we are poised for a significant shift in thinking following the effects of the pandemic. “The devastation of COVID-19 really surfaced for industries their vulnerabilities. Essential workers were the most vulnerable and were being treated as expendable, making it difficult for their operations to continue business as usual,” she said. “Where there are intersecting interests between investors and the stakeholders, there is possibility to influence change in positive ways.”
Professor George also noted that, “When natural resources are managed responsibly the resulting economic development can help to eradicate poverty and promote prosperity; but, when resources are managed poorly—without incorporating respect for human rights—industry sector practices can generate or exacerbate environmental degradation, corruption, and conflict. Human rights and environmental challenges are connected. Investors and advocates can and should leverage corporate and securities laws to promote climate action and accountability for human rights abuses.”
“Haub Law is committed to encouraging and promoting sustainable business opportunities and recognizes the interconnection between human rights and the environmental crisis that we are facing today. Professor George’s lecture reaffirmed that opportunities for training, policy, and research addressing global environmental challenges through corporate sustainability efforts are key to promoting climate action,” said Gilbert and Sarah Kerlin Distinguished Professor of Environmental Law and Executive Director of Environmental Law Programs Jason Czarnezki.
Horace E. Anderson Jr., Dean of the Elisabeth Haub School of Law, said “Professor George’s lecture honed in on the urgent need for action regarding change and the vital role that the corporate community should play in moving us forward in addressing the climate crisis. We are honored to have had her deliver our annual Garrison Lecture on Environmental Law and bring awareness to this important topic.”
More than 200 participants joined the event virtually, including environmental scholars and law students from across the globe, and eagerly submitted questions for a Q&A session following the lecture. Several questions focused on the mandatory human rights/environmental due diligence directive emerging in the European Union. In addition, law students shared concerns about how to build a business case for human and environmental rights when institutional investors act solely on value, not values.
Professor George pointed out that an intergenerational wealth transfer is coming and this, combined with greater accountability, will pave the way for change. “Investors vote value, but value shifts with what our values are,” she said, pointing to elevated costs and reputational implications for human rights violations facing corporations today. “[New generations] can make demands and you can make a difference. You are not powerless.”
Professor Erika George is the Director of the Tanner Humanities Center and the Samuel D. Thurman Professor of Law at the S.J. Quinney College of Law at the University of Utah. George earned a bachelor’s degree with honors from the University of Chicago and a JD from Harvard Law School, where she served as articles editor of the Harvard Civil Rights-Civil Liberties Law Review. She also holds a master’s degree in international relations from the University of Chicago. Prior to joining the S.J. Quinney College of Law, George served as a law clerk for Judge William T. Hart on the United States District Court for the Northern District of Illinois, as a litigation associate for the law firms of Jenner & Block in Chicago and Coudert Brothers LLP in New York City, and as a fellow and later consultant to Human Rights Watch. Her research focuses on human rights and international law and her book Incorporating Rights, recently published by Oxford University Press, examines strategies to advance corporate accountability.
Over forty-five years ago, Lloyd K. Garrison and his associate, Albert K. Butzel, of Paul, Weiss, Rifkind, Wharton & Garrison, won the landmark decision to preserve Storm King Mountain on the Hudson River. This victory for the Scenic Hudson Preservation Conference did more than safeguard "an area of unique beauty and major historical importance" - it inaugurated what today we recognize as the field of environmental law.
Standing in court to protect nature, citizen suit legislation, the environmental impact statement process, and the balancing of economics with the preservation of scenic beauty and historic resources: these are all rooted in Scenic Hudson Preservation Conference v. Federal Power Commission, 354 F.2d 608 (2d Cir. 1965). The Lloyd K. Garrison Lecture celebrates the vision, public spirit and life of this attorney whose legal acumen led citizens in their successful advocacy of environmental quality at Storm King.
Lloyd K. Garrison passed away in 1991. For all his 93 years, Garrison devoted his brilliance and indefatigable energy to building a humane and caring society, respectful of the Rule of Law. Consistent with this dedication, Lloyd K. Garrison took up the citizens’ call to represent the Scenic Hudson Preservation Conference in its struggle to protect the Hudson River Gorge at Storm King Mountain. With characteristic enthusiasm he championed public participation rights for the community’s environmental interest, just as he did for civil rights and liberties. The Scenic Hudson victory is a living testament to Garrison's ever hopeful spirit.
The Lloyd K. Garrison Lecture on Environmental Law was established in his memory in 1995, four years after his death, and continues in his honor.
“Sanitation Celebration" opens on November 14th and runs through January 28 at Pace University Gallery in Manhattan. There are photography, video, sculptures, paintings, and more mediums represented, from minimalist self-portraits to large-scale abstract paintings to custom-made sneakers on display.
The Elisabeth Haub School of Law at Pace University has received a generous five-year grant to name its Investor Rights Clinic after RealFi Financial LLC, a leading, technology-driven, real estate lending and asset management firm.
Professor Nicholas A. Robinson of Pace University has argued that had the amendment existed at the time of contamination, it may have enabled the citizens of Hoosick Falls to go to court at once, instead of having to wait nearly two years for the DEC or EPA to respond.
That is why I was so compelled to join Pace University and lead their career services office. Pace has a significant population of first-generation students and is nationally acclaimed for the upward economic mobility of our graduates.
Pace University has named Jennifer M. Holmes, PhD, an internationally recognized leader in arts education, as its new executive director of the Pace School of Performing Arts (PPA).
Pace University has named Jennifer M. Holmes, PhD, an internationally recognized leader in arts education, as its new executive director of the Pace School of Performing Arts (PPA).
In her role as executive director, Holmes will lead PPA’s academics, operations, budget, productions, and fundraising activities for its eight degree programs: BA Acting; BFA Acting; BFA Acting for Film, Television, Voice-overs, and Commercials; BFA Commercial Dance; BA Directing; BFA Musical Theater; BFA Production and Design for Stage and Screen; and BA Stage Management.
“We are delighted to welcome Jennifer Holmes to Dyson College and our Pace School of Performing Arts community,” said Tresmaine R. Grimes, dean, Dyson College of Arts and Sciences and School of Education. “Her impressive artistic background and leadership experience will be called upon as we continue to provide one of the most forward-thinking and sought-after performing arts school in New York City. We look forward to the many ways she will drive innovation, open artistic doors for our diverse population of talented students as well as expand Pace School of Performing Arts’ offerings.”
Holmes comes to Pace University from Long Island University (LIU) where she was the dean of the College of Arts, Communications, and Design at both the Post and Brooklyn campuses. She was named the inaugural dean of two new schools at LIU: The Roc Nation School of Music, Sports and Entertainment and the George Polk School of Communications. Prior to her tenure at LIU, she worked at The New School where she was the associate dean for Academic Affairs at The School of Drama. While there, she redesigned and updated the Drama BFA and MFA curricula, developed new initiatives at The College of Performing Arts, and directed the US premiere of Last Train to Tomorrow composed and conducted by Carl Davis at Alice Tully Hall and Shining Lights in the Lingering Night at The Great Hall, Cooper Union, in partnership with 400 Years of Inequality. Holmes also initiated the Cultural Change Task Force, a cohort of faculty, students, and administrators dedicated to fostering inclusive, diverse, and equitable theater arts practice. Further, Holmes began her teaching career as an adjunct at Pace University teaching world drama, theater history, and acting, and now comes full circle by rejoining the Pace community in her new role.
Regarding her appointment at Pace, Holmes said, “Pace Performing Arts has a history of nurturing courageous and creative thinkers who shape the arts industry here in America and abroad. I am proud to join this team of artists, educators, and administrators who together will expand the boundaries of contemporary theatre and performance. I look forward to sharing my experience with them and equally, learning from them. Graduates of Pace Performing Arts are positioned to be the change makers and innovators who will ensure our industry is more imaginative, more equitable, more diverse and more inclusive. I am thrilled and inspired by the opportunity to lead one of the most exciting and highly regarded performing arts schools in the world.
Holmes holds a PhD and an MA from New York University and a BA from Vassar College and is an internationally recognized leader in arts education. Her work as a performer and director has been seen in theater, film, and television. She is the founder and director of Global Empowerment Theatre, an international non-profit theater organization. She has devised theater in India, Kenya, Myanmar, Tanzania, the United Kingdom, and the US.
The Pace School of Performing Arts in the Dyson College of Arts and Sciences is one of the most sought-after undergraduate training destinations in the United States. Dedicated to providing the finest possible pre-professional education, ground-breaking programs re-imagine how young artists are trained for today’s industry. In addition, Dyson College’s strong liberal arts curriculum provides students with a solid educational foundation that enriches their professional development as artists, giving students a deeper understanding of themselves and the world. The school’s mission is to prepare students for careers as performers, designers, and technicians in today’s ever-changing entertainment industry with curricula that train students for both the world of theatre and dance as well as film and television.
Pace University’s liberal arts college, Dyson College offers more than 50 programs, spanning the arts and humanities, natural sciences, social sciences, and pre-professional programs (including pre-medicine, pre-veterinary, and pre-law), as well as many courses that fulfill core curriculum requirements. The College offers access to numerous opportunities for internships, cooperative education and other hands-on learning experiences that complement in-class learning in preparing graduates for career and graduate/professional education choices.
Since 1906, Pace University has educated thinking professionals by providing high quality education for the professions on a firm base of liberal learning amid the advantages of the New York metropolitan area. A private university, Pace has campuses in New York City and Westchester County, New York, enrolling nearly 13,000 students in bachelor’s, master’s, and doctoral programs in its Dyson College of Arts and Sciences, Lubin School of Business, College of Health Professions, School of Education, School of Law, and Seidenberg School of Computer Science and Information Systems.
“Improving outcomes for patients and reducing healthcare costs increasingly depend on employees who understand the interface of healthcare and data analytics, information technology and evidence-based clinical improvements,” said Marcus Tye, dean of the College of Health Professions. “Pace’s online MSHI, as a joint program of the College of Health Professions and the Seidenberg School of Computer Science and Information Studies, uniquely addresses this need with shared expertise in health professions and computer science.”
Professionals with expertise in health care, data analytics, and information systems are in great demand
Responding to market demands in the surging health and technology space, Pace University is adding a dynamic new master’s degree to help advance careers while meeting the growing needs of the healthcare sector.
In launching its Health Informatics master’s degree, a fully online program designed for working professionals, Pace is utilizing its exceptional faculty and expertise at its College of Health Professions (CHP) and Seidenberg School of Computer Science and Information Systems.
“Improving outcomes for patients and reducing healthcare costs increasingly depend on employees who understand the interface of healthcare and data analytics, information technology and evidence-based clinical improvements,” said Marcus Tye, dean of the College of Health Professions. “Pace’s online MSHI, as a joint program of the College of Health Professions and the Seidenberg School of Computer Science and Information Studies, uniquely addresses this need with shared expertise in health professions and computer science.”
CHP Dean Tye and Seidenberg Dean Jonathan Hill both say they look forward to the program’s launch for graduate students seeking career development, as well as developing custom offerings for larger health sector employers.
“Healthcare technology is bringing us into an exciting world of truly personalized medicine and healthcare,” said Hill, dean of the Seidenberg School of Computer Science and Information Systems. “Right now, faculty from CHP and Seidenberg are working with students on innovative, interdisciplinary research projects that seamlessly blend healthcare and technology in ways that improve the healthcare experience not just for patients, but for medical professionals as well. This new program brings together the best of both worlds for people looking to make a difference.”
The curriculum brings together healthcare and technology in a growing field where average annual salaries are now upwards of $85,000 and projected job growth is at 22 percent next year.
The demand is fueled by a need for professionals who are equipped to manage and utilize data: for example, they must have a command of healthcare, information systems, databases, and information technology in order to develop data-driven solutions to improve health services, reduce costs, and create efficiencies through strategic data analysis. They are also tasked with ensuring that patient health information, such as medical history, treatments and test results, are integrated, accessible, accurate and secure.
The program is designed for working professionals - healthcare IT technicians, medical clinicians, non-health IT programmers, analysts and data administrators, who are interested in advancing their careers or moving into a new field. The 30-credit program can be completed in four semesters, and upon completion, graduates will be fully equipped to work in a variety of health- and technology-related fields, such as telehealth, artificial intelligence (AI), software development, electronic medical records (EMR), and health trend tracking at top institutions in the field, including Memorial Sloan Kettering, New York/Presbyterian, Columbia, and New York University, as well as major pharmaceutical companies, including Pfizer, Regeneron, and Bayer, among others.
Since 1906, Pace University has educated thinking professionals by providing high quality education for the professions on a firm base of liberal learning amid the advantages of the New York metropolitan area. A private university, Pace has campuses in New York City and Westchester County, New York, enrolling nearly 13,000 students in bachelor’s, master’s, and doctoral programs in its Dyson College of Arts and Sciences, Lubin School of Business, College of Health Professions, School of Education, School of Law, and Seidenberg School of Computer Science and Information Systems.
At Pace University’s Seidenberg School of Computer Science and Information Systems, students experience a best-of-breed technology education at one of the first comprehensive schools of computing in the nation. Strategically located in the heart of NYC’s tech scene, the Seidenberg School places students on the doorstep of New York’s most promising companies, whether they are established tech giants or exciting new start-ups. Through partnerships with leading corporations, banks, federal agencies, and global entities, the School's curricula and programs are designed to give students the latest in computer science theory and invaluable hands-on practice to ground it. The faculty includes numerous cybersecurity experts who operate labs and centers providing students with practical experience and connections that lead to impressive internships and jobs.
Established in 2010, the College of Health Professions at Pace University offers a broad range of programs at the bachelor, master, and doctoral levels. It is the College’s goal to create innovative and complex programs that reflect the changing landscape of the health care system. These programs are designed to prepare graduates for impactful careers in health care practice, health-related research, or as educators, and equip graduates to work in health policy and global health fields. Students in clinical programs receive hands-on training in the College’s interprofessional Center for Excellence in Healthcare Simulation and have the opportunity to apply their developing skills in real-world settings at many of the regions' leading clinical facilities. The College is currently comprised of several growing and important areas of study, which include Nursing, Physician Assistant, Communication Sciences and Disorders, Nutrition and Dietetics, Occupational Therapy, and Health Science. Our vision is to be recognized for our innovative leadership in education, practice, scholarship, and service to improve health and the health professions. Our mission is to educate and challenge diverse students for the health professions to be leaders, innovators and lifelong learners who will positively impact local, national, and global health. For more information, please visit the College of Health Professions website and the Lienhard School of Nursing website.
By creating an auditing framework focused on smartly leveraging data, Freddy Huang is helping accountants, students, and large companies use emerging technologies to their benefit.
The days of accountants relying on sprawling legal notepads, bulky calculators, and illegible chicken scratch are long gone. Accounting in 2021, like many industries, has been revolutionized by an onslaught of new technologies—ranging from complex Microsoft Excel spreadsheets and formulas to ever-sophisticated software.
Pace Accounting Professor Freddy Huang is well aware of these changes, and is helping to usher in a new era in accounting. Through the Multi-Dimensional Audit Data Selection (MADS) framework—which Huang and his colleagues helped develop in conjunction with the American Institute of Certified Public Accountants (AICPA), the Chartered Professional Accountants (CPA) Canada, and audit experts from the Big Four accounting firms—Huang is helping auditors to, quite literally, crunch the numbers more effectively.
A large component of accounting is auditing; which refers to independent examination of financial information of a company, often conducted by external accounting firm. For large companies, auditing theoretically involves looking at potentially millions of business transactions in a given year.
“Traditionally, auditing is quite labor intensive,” said Huang.
Because of this reality, auditors have long engaged in a process known as sampling—which involves taking a smaller portion of transactions and analyzing that portion to make determinations about the full quantity of transactions.
“In relation to audit data analytics, it’s important for students to develop a mindset."
“They don’t take look at all of a business’ transactions. They’ll just select, let’s say, 100 records as a representative sample of the population,” said Huang. “Then, with those records, they’ll apply some audit procedures, and draw conclusions on the entire population.”
However, as Huang notes, this method has historically come with a risk, which is commonly known as—you guessed it—sampling risk.
“If you only audit 100 records, your conclusion may be different from if you hypothetically audit the full population (thousands or possibly millions of records).”
Enter, data analytics. With the advantage of today’s data analytic tools, it has become increasingly easier and cost-effective to examine large quantities of transactions with a relatively low-cost, which theoretically solves the problems of sampling risk. Yet, a new problem has emerged. Namely, if auditors have several weeks to audit a company, what is the most effective way to break down this deluge of information? Is even attempting to sift through mountains of data in an auditor’s best interest?
“One reason why accounting firms are hesitant to apply full population tests are the large number of outliers,” notes Huang.
Outliers, are in essence, the red flags—transactions in an audit that based on the audit criteria, raise possible suspicion and merit a further look. Because a full-scale audit can produce thousands of outliers, analyzing all of the outliers in a large audit is often impractical, and possibly conducive the human error.
The key is then, as Huang explains, to apply frameworks to further reduce the number of outliers down a number that is manageable for an auditor, while also ensuring those outliers are the most important transactions for the auditor to look at. This is exactly the problem that Huang’s Multi-Dimensional Audit Data Selection (MADS) Framework is dedicated to solving, and does so by breaking down outliers into three different outputs. In other words, it uses algorithms and equations to even further reduce the number of outliers in an audit to the ones that raise the greatest suspicion.
“We first start with the full population analysis,” explains Huang. “Based on whatever test or filters you need to apply, you’ll first get a large set of outliers. That’s the Stage One output, but not the final output of the analysis. We then apply additional tests for our Stage Two output, which could be an advanced machine learning algorithm, or based on the output of Stage One, auditors may develop additional filters or test using their own judgement.”
Finally, in the Stage Three output, Huang and his colleagues created a “suspicion score,” which evolves an equation that weights transactions based on the feature and/or number of violations a given transaction has along with the dollar amount of a transaction. If two transactions have the same amount and type of violations but one transaction is significantly larger in dollar amount, for example, that transaction would most likely be greater cause for concern.
Ultimately, through the MADS framework—as well as through looking at how to best incorporate Robotic Process Automation (RPA) into auditing (which aims to free up accountants from doing repetitive and low-judgement tasks in order to focus on tasks that require greater professional judgment)—Huang understands that the future of accounting is heavily trending toward having a strong command of data analytics. When it comes to training the next generation of accountants at Pace, Huang believes that ensuring students approach complex tasks with a strong command of today’s technological tools is paramount for success.
“In relation to audit data analytics, it’s important for students to develop a mindset. In the future, when they start to work for different accounting firms and with different clients, they will certainly be dealing with different types of data sets. But with this mindset, they'll always know where to start and what to follow."
Through a grant totaling nearly $500,000 Dyson professors Matthew Aiello-Lammens and Erika Crispo are helping elevate Pace to new heights through incorporating data science into the biology and environmental science fields.
Dyson Environmental Studies and Science Professors Monica Palta and Anne Toomey have been conducting research in Coney Island Creek, documenting the existing environmental and social ecosystem. Their work aims to reshape the conversation surrounding urban waterfront development.
Dyson Biology Professor Melissa Grigione, PhD, has spent her career traveling all around the world to better understand a wide range of animal populations. She's now passing on what she's learned to the next generation.
The Elisabeth Haub School of Law at Pace University is pleased to announce that five new members have joined its Board of Visitors. All five new members are alumni of the Law School. The new members include Jeffrey Delaney, Susan Galvao, Paul Humphreys, John Lettera, and Chris Wallace.
The Elisabeth Haub School of Law at Pace University is pleased to announce that five new members have joined its Board of Visitors. All five new members are alumni of the Law School. The new members include Jeffrey Delaney, Susan Galvao, Paul Humphreys, John Lettera, and Chris Wallace.
“Our Board of Visitors is comprised of leaders in the legal community and I am proud to welcome these five new members onto the Board," said Dean Horace E. Anderson Jr. "These new members will be valuable advisors, advocates, and champions regarding the advancement of the Haub Law School. I look forward to working with Jeff, Susan, Paul, John, and Chris to continue to bring Haub Law to the next level.”
Jeffrey Delaney is a dual degree alumni from Pace University, graduating from Pace University as an undergraduate in 1989 and in 1992 from Haub Law where he was valedictorian of his class. A highly regarded attorney, he is Pillsbury’s firmwide Corporate and Securities practice section leader and an authority on specialized finance for energy, pharmaceutical and life insurance companies. Mr. Delaney is a very active alumnus and in 2018, he received Haub Law’s Distinguished Service Award as part of the annual Law School Leadership Awards Dinner.
Susan (Brown) Galvão graduated magna cum laude from the Elisabeth Haub School of Law at Pace University in 1993. A frequently recognized Super Lawyer, Ms. Galvão is one of two managing partners of the law firm Bleakley Platt & Schmidt, LLP. She sits on the Firm’s Executive Committee and is a member of the Commercial Litigation, Appellate Advocacy, Internal Investigations, and Trusts and Estates Litigation Practice Groups. Ms. Galvão has been long involved with the Law School, as an event attendee, donor, and as a member of the Women & the Law planning committee.
Paul Humphreys is a 2009 cum laude graduate of the Elisabeth Haub School of Law at Pace University and a partner with Freshfields Bruckhaus Derringer. His law practice focuses on cross-border public and private M&A, private equity transactions, venture capital and general corporate governance. Mr. Humphreys has remained involved with Haub Law since graduating both as a donor and in often assisting the Center for Career and Professional Development by participating in mock interviews with students and advocating for student placements.
John Lettera is a 1999 magna cum laude graduate of the Elisabeth Haub School of Law at Pace University and served as the Managing Editor of Law Review. Mr. Lettera is the CEO and Founder of RealFi Financial LLC. RealFi is a leading, technology driven, alternative investment management firm with expertise in real estate credit strategies. Mr. Lettera’s involvement with the law school has been tremendous. Most recently, he made a generous donation to the Law School which will serve as a five-year grant to name its Investor Rights Clinic after RealFi Financial LLC – RealFi Funding Investor Rights Clinic. He has also been an adjunct professor at the Law School since 2010, teaching courses in Real Estate Finance, Corporate Finance, and Venture Capital. Mr. Lettera has also supported the Law School through hiring many alumni over the years, generously sponsoring alumni events, and volunteering with the Center for Career and Professional Development. In 2013, he received the Distinguished Service Award as part of the annual Law School Leadership Awards Dinner in recognition of his ongoing support.
Chris Wallace is a 1997 magna cum laude graduate of the Elisabeth Haub School of Law at Pace University. Mr. Wallace has been the Vice President and Assistant General Counsel for Choice Hotels since 2012. He has been a practicing lawyer for over 22 years with a principal focus on franchise law for most of that time, practicing with large international law firms in Washington, D.C., and New York City before becoming in-house counsel for Choice Hotels. Throughout the years, Mr. Wallace has remained a consistent donor to Haub Law, while also participating as a reunion volunteer, and a member of the DC alumni chapter.
The Board of Visitors furthers the interests of the Law School by involving alumni and friends in significant issues of concern to the School, and by building a sense of community that fosters pride and participation. The Board is also dedicated to fostering a strong interest in the mission of the Law School by helping to recruit outstanding students, hiring graduates and encouraging financial support from public and private sources. The Board is currently co-chaired by Alfred E. Donnellan '81, Managing Partner, DelBello Donnellan Weingarten Wise & Wiederkehr, LLP and Kathleen Donelli ’85, Partner, Goldschmidt & Genovese, LLP.