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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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