Andrew Felo, professor of accounting at Susquehanna University’s Sigmund Weis School of Business, collaborated with Deloitte and the Center for Audit Quality on a research project examining how corporate audit committees can become more effective.
“I reached out to representatives from Deloitte and the Center for Audit Quality after reading one of their previous reports on audit committee practices,” Felo explained. “My co-author and I had been looking for ways to study leadership practices of audit committee chairs and this provided an excellent opportunity for us.”
In Voices from the Audit Committee: A Supplemental Report, Felo and his co-author Steven Solieri, of Queens College, conducted interviews with 27 audit committee members, including 18 current and former committee chairs. The conversations served as a follow-up to Deloitte’s and the Center for Audit Quality’s broader survey on audit committee practices and offer a closer look at the challenges and strategies shaping corporate oversight.
The resulting report provides insights relevant not only to academics, but also to corporate board members, audit committee members, financial reporting executives, external auditors and regulators, Felo said.
“By focusing on practical leadership and oversight strategies, the research highlights ways audit committees can strengthen financial reporting processes and improve effectiveness,” Felo said.
The project also created valuable opportunities in the classroom, Felo said. He has incorporated lessons from the interviews into discussions about audit committees’ roles in overseeing financial reporting and corporate whistleblowing processes. By bringing firsthand industry perspectives into the classroom, Felo said students gain a clearer understanding of how concepts discussed in class apply in real-world business settings.
“I think students benefit any time professors gain insights into how industry professionals do their work on a day-to-day basis,” he said. “Translating theory into practice helps students better understand and retain class material.”
Felo joined the faculty of Susquehanna University’s Sigmund Weis School of Business in 2020. He earned his bachelor’s degree in accounting from Bucknell University before going on to earn his master’s and doctoral degrees in accounting from the State University of New York at Binghamton. Felo holds credentials as a certified management accountant, certified finance manager and certified fraud examiner.
