June 2003

Magrath and Weld Win 2002 Max Block Award

Lorraine Magrath and Leonard G. Weld have won the 2002 Max Block Distinguished Article Award, which each year recognizes the most outstanding work published by The CPA Journal. The award-winning article, “Abusive Earnings Management and Early Warning Signs,” appeared in the August 2002 issue. The article dealt with the warning signs that may indicate that a company’s earnings management practices are pushing the boundaries of acceptable accounting practice and may verge on abuse or fraud. The award was presented on May 15 at the New York Society of CPAs’ Annual Election Meeting and Dinner.

Lorraine Magrath, PhD, is an assistant professor at Troy State University, Troy, Ala. Leonard G. Weld, PhD, is a professor of accounting and head of the department of accounting and finance at the Harley Langdale, Jr., College of Business Administration, Valdosta State University, Valdosta, Ga.

Honorable mention in the area of Accounting and Auditing went to Elizabeth Venuti, Mark P. Holtzman, and Anthony Basile for their article “Due Professional Care in Cases of High Engagement Risk,” published in December 2002. Honorable mention in the Taxation category went to Ron West for “Tax Planning with the New Minimum Distribution Rules,” published in January 2002.

Max Block (1902–1988) was a founding partner of Anchin, Block & Anchin LLP. For more than half a century, he applied his talents to growing that firm, the NYSSCPA, and the profession. He is described by those who knew him as a visionary whose ideas have formed the basis for many reporting and practice management concepts in use today. Block was managing editor of the NYSSCPA’s Journal (now The CPA Journal) for 15 years. Each year since 1975, the Journal has recognized his contributions and achievements by bestowing the Max Block Distinguished Article Award to the most outstanding article of the past year. Although the judging and selection procedures have changed over the years, the criteria have remained: “An innovative and stimulating article which is of current significance and which is likely to be of lasting value.”

News & Views Editor:
Thomas W. Morris
The CPA Journal

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