Election to the Accounting Hall of Fame is perhaps the only longstanding national award for accountants -- and probably the only international one as well -- in which both academic and practicing accountants vie for the same award. The Accounting Hall of Fame was established at The Ohio State University in 1950 for the purpose of honoring accountants who have made or are making significant contributions to the advancement of accounting since the beginning of the twentieth century. Through 2008, 85 leading accountants from the United States and other countries have been elected to the Hall of Fame.
While selection to the Hall of Fame is intended to honor the people so chosen, it is also intended to be a recognition of distinguished service contributions to the progress of accounting in any of its various fields. Evidence of such service includes contributions to accounting research and literature, significant service to professional accounting organizations, wide recognition as an authority in some field of accounting, advancement of accounting education, and public service. A member must have reached a position of eminence from which the nature of his or her contributions may be judged.