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THE 7TH ANNUAL
AUSTRALIAN ACCOUNTING
HALL OF FAME
DINNER AND AWARDS CEREMONY
2016 PHOTO ALBUM
John Angus Lancaster Gunn OBE
CITATION read by
John Balmford Former Partner
Fitzgerald, Gunn & Partners
nominated by
John Balmford and Baard Solnordal Former Partners
Fitzgerald, Gunn & Partners
accepted on behalf of John Gunn by
Reverend David Palmer
Grandson, John Gunn
1892 - 1962
2016 Inductee
2016
2016
CITATION
John Angus Lancaster Gunn CBE
Born in Brisbane of Scottish descent, John Gunn’s early life was spent in various
parts of rural Queensland. On 16 February 1915 he embarked on five years active
service in Egypt, initially engaged in fieldwork with the Army Service Corps and later
at Australian Army Headquarters in Cairo. As a Captain he returned to Australia in
July 1920 and was formally discharged in November 1920. Following de-mobilisation
he studied for admission to the Institute of Incorporated Accountants of NSW (IIA-
NSW), later Commonwealth Institute of Accountants (CIA), qualifying in 1923. In
1928 he enrolled as a part-time Bachelor of Economics student at the University of
Sydney setting up as a sole practitioner at the same time. He qualified for
membership of The Institute of Chartered Accountants in Australia (ICAA) in 1932
and subsequently joined chartered accountant, Paul Cullen practising under the firm
name of J.A.L. Gunn & Paul Cullen. Interstate links forged with Fitzgerald &
Tompson in 1961 produced the national firm of Fitzgerald Gunn & Partners an
antecedent of the present-day EY. John Gunn spent his entire professional career in
Income Tax and established a major national reputation, acknowledged by clients,
professional colleagues and government authorities alike. In taxation publishing
circles he is best known for the substantive volume Gunn's Commonwealth Income
Tax Law and Practice. This monumental work, first published by Butterworth in 1943
eventually ran to seven editions with co-authorship up until his death by several of
his partners. It was the only comprehensive reference on Australian income tax for
many years. In 1934 he gave extensive evidence to the Ferguson Royal Commission
on Taxation. High-level work for the Commonwealth Government followed and
included membership of the Taxation Advisory Committee from 1943 to 1945, the
Canteen Board 1943 to 1945 and the Commonwealth Committee on Taxation 1949
to 1954. Stepped rates of tax and reforms to company tax were major outcomes from
this latter committee. In 1948 he assisted the Maltese authorities in writing a new
Income Tax Bill. John Gunn delivered research lectures for the then Commonwealth
Institute of Accountants at the University of Melbourne in August 1942 and the
University of Western Australia in October 1946. Throughout his career John Gunn
retained membership of the Australian Society of Accountants and the ICAA. He was
a Councillor of the antecedent IIA-NSW from 1926 to 1930 and of the CIA from1937
until 1939. For his war service John Gunn received the British War Medal, 1914/15
Star and the Victory Medal. In recognition of his contribution to reforms and
development of taxation law in Australia John Gunn was made Commander of the
British Empire in 1955 and in 1956 he was awarded Life Membership of the
Australian Society of Accountants.
The Australian Accounting Hall of Fame honours John Angus Lancaster Gunn as a
war veteran, practitioner, office holder and eminent pioneering taxation specialist.
2016
John Balmford reading the citation for the late John Gunn with co-nominator Baard Solnordal
2016
David Palmer accepting the award on behalf of his
late grandfather John Gunn from speaker Judith
Downes
2016
John Balmford, Stephen Palmer (John Gunn’s grandson), David Palmer (John Gunn’s
grandson and representative) and Baard Solnordal
2016
Michael Sharpe AO
CITATION read by
Rob Ward Head Leadership & Advocacy Chartered Accountants Australia & New Zealand
nominated by
Rob Ward
Head Leadership & Advocacy Chartered Accountants Australia & New Zealand
2016 Inductee
2016
2016
CITATION
Michael John Sharpe AO
Michael Sharpe has had a distinguished career in business and accounting over
many decades both in Australia and internationally. As a graduate in Economics from
the University of Sydney he joined then Coopers & Lybrand in 1955 remaining with
successor firms in international and national executive positions until his retirement
in 1998. He continued in an advisory role with PricewaterhouseCoopers until 2009.
During his long career in practice Michael Sharpe was also actively involved as an
international standard setter serving the profession as Chairman of the International
Accounting Standards Committee (IASC) from 1995 until 1997 at a time of an
irreversible movement towards the harmonisation of financial reporting throughout
the world, a process that continues to this day. In leading the Committee, Michael
Sharpe was instrumental in encouraging the adoption of these standards by over
100 countries, with many others progressing towards adoption. During this period he
also led a comprehensive review of the structure of the IASC designed to enhance
its independence. This review was instrumental in the formation, in 2001 of the
International Accounting Standards Board. As Chairman of Coopers & Lybrand's
International Accounting and Audit Committee from 1983-1986 he was instrumental
in the development of auditing methodology that forms the basis of the present-day
auditing curriculum in many Australian and overseas universities. Michael Sharpe’s
service to the accounting profession is also evident in his important contribution to
accounting education. First, serving as Chairman of the NSW Education Committee
of the Institute of Chartered Accountants in Australia (ICAA), then on the National
Examination Committee, he was responsible for overseeing the change in
examination format to the Professional Year. In 1982 he was elected President of the
ICAA and worked tirelessly to support the professional education of chartered
accountants and the accreditation of accounting programmes at universities around
Australia. During his presidency he had the foresight to adopt a policy stance on the
impact of technology on accounting and auditing, a relatively new phenomenon in
the business world at that time. Michael Sharpe's considerable contribution to
accounting and the Australian community is evidenced by the award of Member of
the Order of Australia in 1991. In 1999 The University of Sydney conferred on him
the degree Doctor of Science in Economics (honoris causa) and in 2000 he was
appointed an Officer in the Order of Australia.
The Australian Accounting Hall of Fame honours Michael John Sharpe as a
practitioner, distinguished standard-setter and office-holder.
Rob Ward reading the citation for Michael Sharpe AO
2016
Michael Sharpe AO accepting his award from
speaker Judith Downes
2016
2016
Michael, Trish and Andrew Sharpe
2016
Ross L Watts
CITATION read by
Philip Brown Emeritus Professor University of Western Australia
nominated by
Philip Brown
Emeritus Professor University of Western Australia
2016 Inductee
2016
2016
CITATION
Ross L Watts Ross Watts was raised in Newcastle, NSW. In 1964 he qualified as a Chartered Accountant
and has been a member of the Institute of Chartered Accountants in Australia for more than
fifty years. Ross graduated BCom with first class honours from the University of Newcastle in
1966 before attending the University of Chicago where he graduated MBA in 1968 and PhD in
1971. In January 1971 he was appointed Assistant Professor at the University of Rochester. In
1974 he joined the University of Newcastle as Professor of Commerce but in 1975 returned to
Rochester, where he remained for the next thirty years. In 2005 he was appointed professor in
the Sloan School at Massachusetts Institute of Technology (MIT) and, in 2008 he became
Erwin H. Schell Professor of Management, and Professor of Accounting. Ross Watts is among
the most heavily cited accounting academics in the world today. His paper titled “Corporate
financial statements, a product of the market and political processes”, published in 1977 in the
Australian Journal of Management, was the trigger point for a very large literature that focuses
on financial accounting’s control role. His 1978 paper with Jerold L. Zimmerman, “Towards a
positive theory of the determination of accounting practices” and published in The Accounting
Review, was seminal. Another of their papers, published in 1983 in the Journal of Law and
Economics and titled “Agency problems, auditing and the theory of the firm: some evidence”,
traced the development of Anglo-American accounting. They maintained the argument that
financial statements were substantially influenced by the demand for corporate control. More
recently Ross Watts has focused on conservatism in accounting. His two “explanatory” papers
published in 2004 in Accounting Horizons are especially well-known. Ross Watt’s editorial
contribution has been extensive. In 1972 he joined the editorial board of the Journal of
Accounting Research and in 1975 was appointed an associate editor of the Journal of Financial
Economics. On the urging of his Dean at Rochester, William Meckling, in 1979 Ross Watts
launched, as co-editor with Jerold Zimmerman, the Journal of Accounting and Economics. His
other contributions include director of the Accounting Research Network, Division of Social
Science Research Network and founding editor, Journal of Accounting Abstracts. He remains a
board member of the Australian Journal of Management. Ross Watts has chaired or been a
member of the PhD committee of almost 50 candidates many of whom have made major
contributions to accounting scholarship. Ross Watts has received myriad awards including the
University of Newcastle Alumni Medal for Professional Excellence in 2013; the American
Accounting Association FARS Inaugural Lifetime Achievement Award in 2013; the American
Accounting Association Seminal Contribution to Accounting Literature Award, shared with
Jerold Zimmerman in 2004; the American Accounting Association Outstanding Accounting
Educator Award in 2000; and the American Institute of Certified Public Accountants Award for
Notable Contribution to Accounting Literature, received in 1978 and again in 1979 for papers
with Jerold L. Zimmerman.
The Australian Accounting Hall of Fame honours Ross Watts as an eminent accounting
researcher and thinker. In so doing it acknowledges the extraordinary impact his research
output has had on the accounting research community and the accounting discipline.
Philip Brown reading the citation for Ross L Watts
2016
Ross L Watts accepting his award from speaker
Judith Downes
2016
2016
Ross and Nancy Watts
2016
2016 Inductees
L-R: Ross L Watts, Michael Sharpe AO and David Palmer for the late John Gunn CBE
2016
2016
Head of the Department of Accounting Matt Pinnuck Special Guest Speaker Judith Downes
Centre for Accounting & Industry Partnerships directors and speaker,
Judith Downes
L-R Stewart Leech, Judith Downes, Brad Potter and Kevin Stevenson
Accounting Hall of Fame Director, Phill Cobbin
2016 Guests
2016
CAIP directors with sponsors L-R James Guthrie (CAANZ), Stewart Leech,
Jon Aloni (CPA), Brad Potter, Kevin Stevenson
Judith Downes with Dean, Faculty of Business & Economics Paul
Kofman
L-R seated Win Leslie, Bob Nicol, Ken Wright, Geoff Burrows,
L-R standing Ken Burrows, Keith Alfredson, Keith James, Danni Balmford,
Baard Solnordal, Garry Carnegie L-R Jeffrey Lucy, Keith Alfredson, John Stanhope, Judith Downes
2016
2016
2016
2016
The Centre for Accounting and Industry Partnerships in The Department of Accounting, The University of Melbourne
thank our sponsors for their generous support