Wyatt, Arthur R. | University of Illinois Archives

Name: Wyatt, Arthur R.

Historical Note:

Arthur R. Wyatt holds bachelors, masters, and doctoral degrees in accountancy from the University of Illinois. Following completion of his Ph.D. degree in 1953, he joined the Accountancy faculty at the University of Illinois where he strongly influenced graduate and undergraduate students, authored many books and articles,including his classic study of accounting for business combinations, and progressed to the rank of full professor. Except for two years in the Army, he remained at Illinois until 1966. In June of that year he left to begin a second career in public accounting with Arthur Andersen & Co., becoming a partner just two years later. He joined the firm's accounting principles group, working under the leadership of George Catlett. When Catlett retired, he assumed leadership of the group which had responsibility for the firm's basic accounting policies, a role in which he was distinguished for his independence of thought and soundness of judgment.

In 1973, he was appointed to membership on the Accounting Standards Executive Committee of the American Institute of Certified Public Accountants (AICPA); he chaired the committee from 1977 to 1979. He served on the Financial Accounting Standards Advisory Council from 1978 to 1981 and the AICPA Board of Directors from 1980 to 1984.

In January 1985, he left Arthur Andersen & Co. to become a member of the Financial Accounting Standards Board, where he served until his resignation in November of 1987. Upon returning to his firm, he was appointed by the AICPA as the United States representative on the International Accounting Standards Committee. He chaired that committee from July 1990 until January 1993 and is widely credited with laying the groundwork for a new era of international cooperation in the development of accounting principles.

His extensive record of contributions to organizations includes service as president of the American Accounting Association, vice-president of the AICPA, and member of countless committees and boards of professional groups, community organizations, and businesses. He is also a tireless worker on behalf of his alma mater, the University of Illinois.

When he retired from Arthur Andersen & Co. in 1992, he returned to the University of Illinois where he taught senior accounting students. He currently resides in Florida. His enthusiasm for golf has led him to sponsor several young professional golfers, and he attends a number of major golf tournaments every year. He is the 61st member of the Accounting Hall of Fame at the Ohio State University Fisher College of Business.

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