L. Glenn Perry
Encyclopedia
Lloyd Glenn Perry was the first Chief Accountant of the United States Securities and Exchange Commission. His appointment to this post by Ronald Reagan
was announced on September 23, 1982 in the SEC News Digest.
He led numerous actions against publicly traded companies for false financial reporting and disclosure known as "cooking the books." Most notable of these was the action against California's Financial Corp. of America. After an investigation by Perry and the SEC, the company was forced to re-report second-quarter profits in 1984 to show a $107.5 million loss instead of a $31.1 million profit. This case is credited with being the first indication of the savings and loan crisis
of the 1980s.
He became a recognized expert in policing false financial disclosure and articles written by him such as "Policing Financial Disclosure Fraud: The SEC's Top Priority" are still referenced and used in college accounting text books such as "Accounting Theory" (ISBN 0471189081 LCC: HF5625) edited by Richard G. Schroeder and Myrtle W. Clark and published by John Wiley & Sons
.
He was born on October 28, 1944 in Gatesville, North Carolina
. He graduated from Churchland High School
in Portsmouth, Virginia
and was a star baseball player and track athlete. He graduated from Old Dominion College
in 1967 and was a member of the Alpha Kappa Psi
business fraternity.
He was Chairman of the Ethics Committee of the American Institute of Certified Public Accountants
.
He was a Senior Partner of the accounting firm KPMG
retiring as head of the Office of Ethics and Professional Practice. Upon being made a partner in 1976 at the age of 31, he was the youngest person to achieve that in the firm's history at that time.
Ronald Reagan
Ronald Wilson Reagan was the 40th President of the United States , the 33rd Governor of California and, prior to that, a radio, film and television actor....
was announced on September 23, 1982 in the SEC News Digest.
He led numerous actions against publicly traded companies for false financial reporting and disclosure known as "cooking the books." Most notable of these was the action against California's Financial Corp. of America. After an investigation by Perry and the SEC, the company was forced to re-report second-quarter profits in 1984 to show a $107.5 million loss instead of a $31.1 million profit. This case is credited with being the first indication of the savings and loan crisis
Savings and Loan crisis
The savings and loan crisis of the 1980s and 1990s was the failure of about 747 out of the 3,234 savings and loan associations in the United States...
of the 1980s.
He became a recognized expert in policing false financial disclosure and articles written by him such as "Policing Financial Disclosure Fraud: The SEC's Top Priority" are still referenced and used in college accounting text books such as "Accounting Theory" (ISBN 0471189081 LCC: HF5625) edited by Richard G. Schroeder and Myrtle W. Clark and published by John Wiley & Sons
John Wiley & Sons
John Wiley & Sons, Inc., also referred to as Wiley, is a global publishing company that specializes in academic publishing and markets its products to professionals and consumers, students and instructors in higher education, and researchers and practitioners in scientific, technical, medical, and...
.
He was born on October 28, 1944 in Gatesville, North Carolina
Gatesville, North Carolina
Gatesville is a town in Gates County, North Carolina, United States. The population was 312 at the 2008 census. It is the county seat of Gates County.-Geography:Gatesville is located at ....
. He graduated from Churchland High School
Churchland High School
Churchland High School is a public high school located in Portsmouth, Virginia. It is administered by Portsmouth City Public Schools. The school colors are black, orange, and white...
in Portsmouth, Virginia
Portsmouth, Virginia
Portsmouth is located in the Hampton Roads metropolitan area of the U.S. Commonwealth of Virginia. As of 2010, the city had a total population of 95,535.The Norfolk Naval Shipyard, often called the Norfolk Navy Yard, is a historic and active U.S...
and was a star baseball player and track athlete. He graduated from Old Dominion College
Old Dominion University
Old Dominion University is a state university located in Norfolk, Virginia, United States, and is accredited by the Southern Association of Colleges and Schools...
in 1967 and was a member of the Alpha Kappa Psi
Alpha Kappa Psi
ΑΚΨ is the oldest and largest professional business fraternity. The Alpha Kappa Psi Fraternity was founded on October 5, 1904 at New York University, and was incorporated on May 20, 1905...
business fraternity.
He was Chairman of the Ethics Committee of the American Institute of Certified Public Accountants
American Institute of Certified Public Accountants
Founded in 1887, the American Institute of Certified Public Accountants is the national professional organization of Certified Public Accountants in the United States, with more than 370,000 CPA members in 128 countries in business and industry, public practice, government, education, student...
.
He was a Senior Partner of the accounting firm KPMG
KPMG
KPMG is one of the largest professional services networks in the world and one of the Big Four auditors, along with Deloitte, Ernst & Young and PwC. Its global headquarters is located in Amstelveen, Netherlands....
retiring as head of the Office of Ethics and Professional Practice. Upon being made a partner in 1976 at the age of 31, he was the youngest person to achieve that in the firm's history at that time.