Arthur Levitt, Eli Mason Recognized as Accounting Exemplars

At its 2001 Accounting Exemplar Luncheon, held in Atlanta on August 12, the American Accounting Association’s Public Interest Section recognized Arthur Levitt and Eli Mason for their efforts to promote professionalism and ethics in the accounting profession.

Appointed by President Clinton as the 25th chairman of the SEC in 1993, Arthur Levitt ended his tenure, the longest in the history of the agency, in February. Lynn Turner, then–SEC chief accountant, accepted the award on Chairman Levitt’s behalf.

Eli Mason began his accounting career in the early 1940s, received his CPA certificate in 1943, and started his own firm in 1946. He has served as NYSSCPA president, AICPA council member, and AICPA vice-president. Throughout his 60-year career, he has remained a vocal and outspoken critic of abuses in the accounting profession. In his acceptance speech, Mason stressed the importance of education in his own life, the lives of his family members, and the accounting profession as a whole. Richard Vangermeersch, professor of accounting at the University of Rhode Island, in presenting the award, quoted from Mason’s “Credo for a CPA”:

• To serve the public from whom my authority is derived
• To serve my profession and contribute to its institutions
• To practice at the highest professional level
• To maintain an ethical posture characteristic of a learned profession
• To maintain my ethical skills so that the public is served with competence
• To maintain a state of independence at all times so that decisions are reached with objectivity
• To work with my colleagues—for the practice of a profession is an experience in human behavior and mutual respect.