The Accounting Foundation

The Accounting Foundation, along with its antecedents – the University of Sydney Accounting Research Centre (USARC) and the Accounting and Finance Foundation (A&FF) – has been a cornerstone of teaching and research in accounting at the University of Sydney. Conceptualised by Ray Chambers, it has supported academics and students, and built networks with industry and practice, for over 50 years. 

The Accounting Foundation’s legacy is founded on the generous contributions of significant time and resources by University of Sydney accounting academics over many years and the support of benefactors from industry, demonstrating the value of its activities to both academia and practice. Some of these activities are the ‘town and gown’ Pacioli Society and the international journal, Abacus.

The Foundation’s rich history, documented by drawing on Annual Reports and correspondence from Ray Chambers’ own archives, reveals its long-lasting and significant intellectual and financial contribution to the teaching, research and engagement activities of the Discipline of Accounting, Regulation and Governance and to the profession.

The University of Sydney and the Business School have committed the Foundation’s legacy funds to the continued pursuit of the objectives of the Foundation through, amongst other activities, engagement with the profession, support for Abacus, research grants, higher degree by research and Honours scholarships, seminars, lectures, student prizes and staff teaching awards, and other initiatives, activities and events of benefit to the Discipline.

Responding to criticisms of accounting nationally and internationally, Ray Chambers and his Sydney School of Accounting colleagues, as well as practitioners and industry leaders, argued the need for evidence-based research as a basis for practical accounting reforms. This period was the genesis of what was to become The Accounting Foundation and saw the publication of the first issue of the international journal Abacus. The Pacioli Society was also established in this period, the activities of which have built strong connections between academia, practice and industry.

In this period the promotion of evidence-based research continued, with many staff contributing time and resources to the work of the antecedents of The Accounting Foundation (the USARC) and the A&FF. Stronger connections with the University, business, accounting practitioners and the profession was forged during this time, with the Foundation’s 1982 objectives documented as: to assist the Senate and the Vice-Chancellor on matters associated with the study of accounting and financial management by cooperating with industry, commerce and the accounting profession; and to promote excellence in all fields of accounting and financial management in Australia. This period also saw the inauguration of the highly successful RJ Chambers Research Lectures in Accounting.

The key goal of the Foundation during this period was to bring academia, senior business executives and alumni of the University together to share ideas, network and debate relevant research. Throughout this period the focus on reform of accounting thought and practice continued. The activities of the Foundation included the continued operations of Abacus and the Pacioli Society, as well as an active visitors program and staff research support. In the mid-2000s, the Foundation facilitated the publication or reissue of many Sydney Accounting Classic sbooks/monographs on accounting. This period also saw the official opening of the RJ Chambers Collection by Vice Chancellor Professor Gavin Brown on 15 November 2004.

In this period, the Foundation emphasised its philanthropic purpose, providing PhD top-up scholarships, student prizes, honours scholarships, and the Abacus annual “Best Manuscript Award”. The Foundation explored and sponsored research into the implications of emerging megatrends like automation, blockchain, big data and other new technologies, considering the impact on the profession. The Pacioli Society introduced the “Twilight Town-and-Gown” seminar series, in partnership with the professional bodies, CPA Australia and Chartered Accountants Australia and New Zealand.