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WINTER 2005

In Brief

Haas Honors Acct. Reformer

Investor advocate and accounting reformer Walter Schuetze was awarded the inaugural Berkeley Award for Distinguished Contributions to Financial Reporting for his career of standing up for investor interests when reviewing management's financial decisions.

A partner at KPMG for nearly three decades, Schuetze was one of the first accountants to spot the problems that led to the savings and loan crisis of the 1980s. He left KPMG in 1992 to become chief accountant at the Securities and Exchange Commission (SEC) until 1995. From 1997 to 99 he was chief accountant of the SEC's enforcement division.

In 2000, he joined the board of directors of Computer Associates, only to find that the company had been overstating earnings for years. He led the company's audit committee during the investigation by the SEC and helped reorient the company to benefit shareholders.

The award was conceived by George Staubus, accounting professor emeritus, and given by the Center for Financial Reporting and Management at its annual conference on Nov. 5.

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Walter Schuetze

Walter Schuetze

Recipient of the Berkeley Award for Distinguished Contributions to Financial Reporting

 
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