Postlethwaite & Netterville Chief Executive Officer and Managing Director William E. “Bill” Balhoff has been elected vice chairman of the American Institute of Certified Public Accountants’ board of directors.
“I can tell you that it’s an incredible honor but even more it’s an incredible responsibility to represent our membership,” Balhoff said Thursday.
The AICPA is the world’s largest member association representing the accounting profession, with nearly 386,000 members in 128 countries. The group’s members represent many areas of practice, including business and industry, public practice, government, education and consulting.
Balhoff said the association serves members but is also committed to protecting the public interest, and in advocacy efforts on behalf of the public.
The AICPA sets standards for the profession and is even involved in disciplinary action. It also training, professional skills, programs, services and publications to assist its members.
Part of Balhoff’s duties will be helping shape the strategy so the association can remain relevant and ahead of the curve as times change and business processes become more complex, Balhoff said.
Balhoff said he plans to focus on helping the AICPA serve as a sort of national support office for members.
If someone has a question about how to apply a new accounting standard, for example, he or she could call the AICPA and get answers, Balhoff said.
Balhoff has served the institute in a number of positions, including as chair of the Private Companies Practice Session Executive Committee and as a member of the Financial Accounting Standards Advisory Council. Balhoff has also been named to the “Top 100 Most Influential People” in the accounting industry by Accounting Today and CPA Magazine.
He is the second Postlethwaite & Netterville director to serve the American Institute of Certified Public Accountants in a leadership position. Former Managing Director Jake Netterville served as the institute’s chairman in 1992.