WHAT’S WRONG WITH DOCTORAL EDUCATION IN ACCOUNTING? A L OOK AT SOME ECONOMIC AND ETHICAL ISSUES Robert W. McGee 1 JEL Code: D6, I2, M4 Abstract The PhD is considered to be the terminal qualification in accounting. One would think that the doctorate would be a high quality degree that prepares people to function at the top levels of the profession. But such is not the case. The PhD programs presently offered by most universities do a poor job of educating students in accounting. The author points out some of the deficiencies in the present programs and offers suggestions for improvement. Introduction The doctorate is considered to be “the” terminal credential for accounting educators. Many schools require it as a condition of tenure. Some schools will not even interview job applicants who are not either PhDs or PhD candidates nearing completion. 2 But much is wrong with 1 W. Paul Stillman School of Business, Seton Hall University. The author would like to thank the two anonymous referees for their comments. The author can be reached at bob@dumontinst.com. 2 Some schools go even farther than that and will not interview someone who has not earned a PhD at an AACSB accredited school, which presents some economic, ethical and potential legal problems. For more on this point, see Robert W. McGee, Hiring Only