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Wednesday, February 25, 2004
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Ray Stephens receives James E. Daley accounting professorship

ATHENS, Ohio (Feb. 25, 2004) -- The first James E. Daley Professorship in accounting has been awarded to Professor of Accounting Ray G. Stephens, who directs the School of Accountancy in the Ohio University College of Business.

Ray G. StephensDaley, a CPA, earned his BBA from the Ohio University College of Business in 1963, graduating with honors. His successful career spans over 35 years with Price Waterhouse, L.L.P. before becoming executive vice president at EDS, from which he retired in 2003. He also serves on the board of directors of other companies.

During ceremonies awarding the Daley Professorship, Associate Dean Nanda Rangan noted, "This awarding of the endowed James E. Daley Professorship in Accounting enhances the ability of the College to recruit and retain the best faculty, provide high-quality instruction, attract top students, develop new knowledge, and serve the state of Ohio and the profession of accountancy throughout the world. Especially in this time of declining state funds for higher education, professorships and faculty fellowships are the support we need to compete by adding to faculty compensation, providing support funds, and adding prestige."

"I am honored to be selected as the first recipient of the James E. Daley Professorship of Accountancy," Stephens said. "We in the School of Accountancy wish to thank Jim Daley for his support in enhancing our program through his leadership endowment of this professorship."

Stephens earned his doctorate from the Harvard University Graduate School of Business Administration. He was KPMG Peat Marwick Professor of Accounting at Kent State University for eight years, a faculty member at The Ohio State University for 13 years and has also held instructional positions at Harvard University, East Carolina University, Boston University and the American College in Paris (France). Professor Stephens was the 1995 Ohio Outstanding Accounting Educator and is currently serving a term on the Accountancy Board of Ohio.

He is a former academic accounting fellow at the Securities & Exchange Commission, a former senior academic fellow in the Office of the Auditor of the State of Ohio and former faculty resident with Arthur Andersen & Co. Professor Stephens has authored three books, 20 journal articles, including publications in the Accounting Review, Accounting and Business Research, Journal of Accounting and Public Policy, Auditing: A Journal of Practice and Theory and Research in Accounting Regulation, and numerous teaching materials and professional publications.

The Ohio University College of Business was first accredited by the Association to Advance Collegiate Schools of Business (AACSB International) in 1950 and the School of Accountancy holds a separate AACSB accreditation. The College of Business provides a distinctive learning environment that actively engages students, faculty and the business community in developing the knowledge and skills needed for success in today's complex, global economy.

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Media Contact: Jack Barr, (740) 597-1434 or barrj1@ohio.edu

Editors: Photos of Stephens and Daley can be found at

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