Earlier this month, collegiate teams met at 12 regional Deloitte offices around the country, and were presented with a hypothetical case study that tested the students' knowledge of a variety of tax topics. Each team was then given five hours to ponder and compose a solution to the case study. Following the competition, the judges reviewed all of the teams' entries and selected 12 winners to advance to the national finals November 16 to 18 in Orlando, Florida.
"This year, our judges were impressed and overwhelmed at the level of insight and forward thinking that was presented by the more than 200 students who participated in the regional competition," said Shaun Budnik, president of the Deloitte Foundation. "If the case study responses that were submitted this year are any indication of where the next generation of tax leadership is heading, our future is going to be in very good heads."
The national finalists will compete for more than $70,000 in individual scholarships and institutional awards. The 2007 Deloitte Tax Case Study Competition regional winners are:
Graduate Division: Brigham Young University, University of Denver,
Georgia State University, University of Southern California, Utah State University, College of William and Mary Undergraduate Division: Brigham Young University, University of Denver, The Ohio State University, University of Southern California, College of William & Mary, University of Wisconsin – Madison.
In the Graduate Division, Brigham Young University, the University of Denver, the University of Southern California, and the College of William and Mary are all making repeat trips to the national finals. Additionally, five out of the six schools in the Undergraduate Division are making repeat trips to Orlando. The University of Denver is the one undergraduate team that did not appear in last year's final competition.
The following eight schools were also recognized for their performance
in the regional competition with honorable mention awards: Graduate Division: University of Central Florida, University of Illinois, Texas A&M University, University of Texas-Austin Undergraduate Division: Boston College, University of Northern Colorado, St. John's University New York, Xavier University
Each of the eight regional honorable mention award recipient schools
will receive a $1,000 award for their institution. A $100 individual award
will also be given to each regional honorable mention student team member. Xavier team members include: Nicole O'Leary, Ray Wolf, Mary Kathleen Dobrosielski, and Michael Chmelik.
"This year, we had 50 teams from 35 colleges and universities work against the clock to complete a real-world, complex business problem that is reflective of what practicing tax professionals must address and solve in the workplace each day," said Chet Wood, chairman and chief executive officer of Deloitte Tax LLP. "We are delighted at the high level at which these students competed, which is a credit not only to the students themselves, but also to the faculties and tax departments at their colleges and universities. As educators and business people, we share a duty to prepare the next generation of business leaders, and to open students' eyes and minds to the opportunities that exist. Deloitte is proud to play a part in doing that by sponsoring this competition. Congratulations to all of the students on a job well done."
At the conclusion of the national competition in November, the winning team in both the undergraduate and graduate divisions will receive the following: a $10,000 award for their school and a $1,000 scholarship for each team member. The second place team in each division will be awarded $500 per student and $5,000 for their school. All other participating team members will receive national honorable mention awards of $250 each and $2,500 for their school.
"This interscholastic competition brings out the best in these intelligent and motivated students. It is gratifying to see the spirit of competition, the teamwork and the students' knowledge and problem-solving skills at work," said Budnik. "On behalf of Deloitte, we congratulate each national finalist and regional honorable mention team. We also hope this was a rewarding experience for all of the students who participated from more than 50 colleges and universities."
The Deloitte Foundation is a not-for-profit organization that supports teaching, research, and curriculum innovation in accounting, business, and related fields within the U.S. The Foundation, founded in 1928, supports an array of national programs, which are relevant to a variety of professional services, and which benefit undergraduates, graduate students, and faculty. For more information, please visit the Deloitte Foundation web page at http://www.deloitte.com/us/df.