Bridging the education-practice divide: The Salisbury University auditing internship program

► Critics have noted that a gap has emerged between accounting education and accounting practice. ► Experiential learning (EL) opportunities have long been touted as a means of bridging the education-practice gap. ► The SU Auditing Internship Program is deconstructed as a model EL activity. ► Assessment evidence supports Program effectiveness. ► Implementation guidelines for other schools are presented. This paper describes in detail the Auditing Internship Program offered each fall and spring semester by the Department of Accounting & Legal Studies at Salisbury University. The Program, which has grown and evolved over the past 20years, was founded on the purported benefits of experiential learning and calls dating back nearly three decades for curricular change designed to enhance the core competencies of accounting graduates. The internship is organized and run as an actual accounting practice in which the instructor serves as the Executive Partner and maintains professional liability insurance though the AICPA carrier. Students, working in teams ranging in size from three to seven, serve as the professional staff. The client base consists of not-for-profit organizations that vary in size and complexity. Services range from limited scope consulting engagements to operational and financial audits. As evidence of program quality, in 2011 the practice successfully completed an AICPA mandatory peer review for quality of accounting, auditing and attestation services performed by AICPA members in public practice. Additional assessment data in the form of student and employer feedback indicate that the Program is meeting its stated objectives. The description of program operations, cost and fee structure, and implementation recommendations presented in this paper may be used as a guide for those faculty interested in implementing similar programs at their institutions.