CPa firms and their foundations are frequently a major source of financial aid for accounting programs. Numerous universities attract prominent educators by supplementing their salaries with endowed chairs. Today, many of the chairs are held by persons devoting the major portion of their efforts to empirical research and writing. The occupants of these chairs have reduced teaching duties and less contact with students than other faculty members. He is available to students only three hours per week.
Research is an essential role for a university.
Accounting research, however, should have some relationship to the actual activities of the profession. When CPAs, foundations, and private companies endow chairs of accounting, I believe they have an obligation to see that the people in those chairs contribute to the practical advancement of the working profession. Although colleges and universities may not like restrictions upon the use of funds contributed for endowed chairs, the financial need is so great that they will accept an oversight role by the contributor. Accounting entities funding endowed chairs should see to it that the course material benefits the profession. Financial contributions are also made by means other than endowed chairs.