Professors Vasarhelyi and Alles win Bright Idea Award for research that applies process mining to auditing
Professors Miklos Vasarhelyi and Michael Alles were recently chosen to receive a Bright Idea Award from the Stillman School of Business and the New Jersey Policy Research Organization for their work on how process mining can potentially add value when used as an analytical procedure in auditing.
In an article titled, "The case for process mining in auditing: Sources of value added and areas of application,” the professors explained how event logs can be put to use to track and verify transactions.
Alles and Vasarhelyi, both faculty members in the Department of Accounting and Information Systems at Rutgers Business School, co-authored the article. Professor Mieke Jans of Hasselt University in Belgium was also a co-author.
Each year, Seton Hall University’s Stillman School of Business and the New Jersey Policy Research Organization collect research – manuscripts, papers, books, etc. – produced by academics across the state and compile them into a volume called Publications of New Jersey’s Business Faculty.
The paper produced by Vasarhelyi and Alles was selected as one of the top 10 manuscripts from a collection of more than 216 research works published in 2013. In September, the paper was published in The Accounting Review, the top academic accounting journal.
It is the third time Vasarhelyi and Alles have been chosen to receive a Bright Idea Award. Vasarhelyi is director of the Rutgers Accounting Research Center and holds the KPMG distinguished professorship.
Joyce Strawser, dean of the Stillman School of Business, said the award is intended to recognize academic research that can be put to practical use. The award is presented annually by Seton Hall University’s Stillman School of Business and New Jersey Policy Research Organization Foundation, a public policy research affiliate of the New Jersey Business and Industry Association.
A ceremony to honor the award winners will be held on Friday, Oct. 24, at Middlesex County College.