Texas Tech will house the first and only accounting school in the state after the Board of Regents approved the item at its meeting Friday.
Provost Bob Smith said there are more than 1,600 business schools in the U.S., but the Association to Advance Collegiate Schools of Business, a program whose mission is to advance management education and leadership through worldwide accreditation, accredits only 168 of those with accounting programs.
Of those programs, there are 40 schools of accounting nationwide. Tech, he said, will become No. 41, and the first in Texas.
“That’s a rare group among over 1,600 business schools,” Smith said, “and the first school of accounting in the state of Texas.”
Creating a Tech School of Accounting will add recognition and provide an opportunity for advancement, Smith said.
Lance Nail, the dean of the Rawls College of Business Administration, said this is a milestone for Tech’s accounting program.
“Elevating our program to a school of accounting attaches an elite status to our program that has (been) earned through years of outstanding graduate placements, high CPA pass rates and impactful faculty scholarship,” Nail said in a news release.
It is important to note, Smith said, that Tech was nationally ranked in the top five for its excellence in bachelor’s and master’s degrees by one of the top four accounting programs.
Having a school of accounting will do more than increase enrollment, Smith said.
“It’ll help enrollment, and what we said was, ‘It’s not only for that,’” he said. “It’s for the visibility, the opportunity to raise funds, and it’s also recognizing excellence in accounting education here at Tech for many years.”
Among other items approved by the Board of Regents, Smith said there were also 68 appointments of tenure.
When professors are hired, he said there is a very detailed and clear policy for them to achieve tenure.
Smith requested changes in academic rank and granting for tenure to 38 faculty members. The majority of the candidates are being promoted from assistant professor to associate professor, he said, and a few to associate librarian and associate archivist.
These candidates have been strongly recommended from their respected colleges.
With the requests, Smith said 701 faculty members at Tech — or 73.1 percent — would obtain tenure.
“(They) have been judged by the appropriate departmental and collegiate committees and administrative personnel as worthy of the promotions for which they have been recommended,” Smith said in a statement.
The Board also approved the designation of Horn Professor, a professorship that recognizes scholarly achievement and outstanding service, to Hongxing Jiang, a professor in the Department of Electrical and Computer Engineering.