$8.4 Million Gift to Establish Accounting Department at Azusa Pacific

AZUSA, Calif. — Azusa Pacific University received a pledge for an $8.4 million gift from L.P. and Bobbi Leung to expand the university’s accounting major and establish the L.P. and Timothy Leung Department of Accounting, announced APU President Jon R. Wallace, DBA, on Nov. 6. This is the largest gift in APU history.

This gift comes at an appropriate time as the nation calls for a higher standard of ethics and accountability in business and accounting. The new department, housed in APU’s School of Business and Management, will offer strong academics combined with practical training, while giving high priority to teaching ethics.

“This outstanding accounting program built on a strong ethical foundation will attract the best and brightest students,” said Wallace. “The Leungs’ generosity advances excellence in accounting and auditing in a business climate desperate for professionals that possess business acumen and uncompromised integrity.”

“We envision an accounting program offering students an academic and internship program second to none,” said Ilene Bezjian, DBA, dean of APU’s School of Business and Management. “We anticipate that our graduates could change the face of not only accounting, but also governments working to balance budgets, and international economies operated by world renowned leaders who would seek out our graduates for hire.”

This gift includes the Leungs’ previous $1 million gift dedicated to establishing the Endowed Chair for Ethics in Auditing and Accounting. This gift also brings honor to the life of Timothy Leung, their son, who passed away in March 2010.

L.P. attended APU from 1958–59. After graduating with a B.A. in History from Pasadena College (now Point Loma University), he went on to study at the University of Southern California, became a CPA, and founded his own company. His vast experience and passion for auditing led him to see a need for preparing CPAs who will bring integrity and a high moral standard to audits and accounting.

“The Lord led me to Azusa College in 1958, and He brought me back to the APU family in 2008 to serve Him in ways I hope will benefit Christian accounting students and business professionals for years to come,” said L.P.

“The creation of a signature accounting department that emphasizes ethics and values in a manner consistent with the mission of our university will result in graduates who serve businesses and organizations from a strong ethical perspective,” said Mark Stanton, Ph.D., ABPP, acting provost. “Employers will seek out our graduates because they will know that these accountants bring an additional dimension to their role and function in the marketplace.”