Rocky Duckworth joined KPMG in 1972 after graduating with honors from OSU with a bachelor’s degree in accounting. He retired from KPMG in 2010 after more than 38 years, including 29 years as a partner.
At KPMG, Rocky served as lead audit engagement partner for large, multi-national clients operating in different segments of the energy industry including upstream oil and gas exploration and production companies, energy marketing and trading companies, and merchant independent power producers and retail power providers. Representative clients included Anadarko Petroleum Corporation, Devon Energy Corporation and Reliant Energy, Inc.
Tell us a little about your roots.
Family roots are generationally deep in Tillman County in southwest Oklahoma. I grew
up in Frederick, a small (about 6,000 residents in 1968 when I left for OSU) farming
community. I graduated from Frederick High School with about 80 fellow students, many
of which I had known since first grade (no free kindergarten in the 1950s). Neither
parent was able to attend college, but they placed a great emphasis on high achievement
in school. I have one brother who was valedictorian of his high school graduating
class, who attended Phillips University in Enid and later the University of Oklahoma
and OU Law School.
Why did you decide to pursue accounting at OSU?
My decision to attend OSU was based on greater scholarship dollars offered. While
my family was solidly lower middle class, there was not a college fund in my future.
Scholarship offers were very important. I chose accounting as a major area of study
based on high school interaction with the only CPA in Frederick.
How did Oklahoma State help shape your career?
OSU provided me the accounting and business education foundation that led to opportunities
with Big 8 public accounting firms. I chose to join what was then Peat, Marwick, Mitchell
& Co., which today is known as KPMG LLP. Helping to pay for my OSU education was part-time
employment in the OSU Department of Internal Audits. This exposed me to systems and
controls, which were very beneficial as auditing was beginning to look more closely
at testing and relying on internal controls rather than just substantive auditing.
What are some accomplishments that you are proud of since leaving OSU?
I met my wife at OSU. We were married post-graduation and have been married 47-plus
years. We have two daughters who are successful and independent and four grandchildren.
It is my family for which I am most proud. As mentioned, I joined KPMG in Oklahoma
City after graduating from OSU. With significant mentoring and great opportunities,
I was elected into the partnership of KPMG in 1981, became partner-in-charge of the
Oklahoma City audit practice in 1984, and became office managing partner in 1986.
In 2000 I was asked to transfer to the Houston office and assume an energy industry
leadership role in the audit practice. I am also very proud of the hundreds of individuals
(many from OSU) who we recruited to KPMG. It was great to watch their careers at KPMG
and for many, at companies, institutions, and governments post-KPMG. Also, being inducted
into the Spears School of Business Hall of Fame and School of Accounting Hall of Fame
are especially proud moments.
Please share with us your career and your day-to-day responsibilities.
Some career accomplishments are noted above. I retired from KPMG in 2010 after almost
39 years. Post-KPMG, I am serving or have served on the boards of directors of four
public companies operating in various sectors of the energy industry. I chair(ed)
or served on the audit committee on all four companies. In 2011, I was appointed by
the governor of Texas to a six-year term on the Texas State Board of Public Accountancy.
My TSBPA term offered an opportunity for more direct public service and a CPA regulatory
role. My day-to-day responsibilities currently involve chairing the audit committee
of a NYSE-listed oil field services company and serving on that company's board of
directors. I also spend considerable time on personal investments and various volunteer
activities. My family is the focus of my post-retirement career, especially my four
grandchildren.
What advice would you give to current students at OSU?
Giving advice is always risky. My suggestions to current OSU students would be to
make academic achievement their number one priority. Accounting students would often
ask how important grades were in making employment decisions. My answer was that nothing
bad could be said about having high academic grades. A high achieving student was
either naturally smart or worked very hard. Both are very good. I would also suggest
that students focus on being open in how they deal with people and always be inclusive
and ethical.