CHICAGO, Oct. 28, 2021 – The Illinois CPA Society (ICPAS)—one of the largest state CPA societies in the nation—is pleased to announce that one of its former chairpersons, Belverd (Bel) E. Needles Jr., Ph.D., CPA, CMA, has been named the American Institute of CPAs’ (AICPA) 2021 Gold Medal Award of Distinction recipient. Since 1944, the Gold Medal Award of Distinction has served as the AICPA’s highest honor bestowed upon CPAs whose influence on the accounting profession is especially notable.
“Bel is a passionate leader whose service and influence on the accounting profession are as remarkable as his professional career achievements,” says Todd Shapiro, ICPAS president and CEO. “Throughout his career, he has fostered the development of countless young people who aspire to earn their CPA licenses and pursue careers in the accounting profession.”
Needles retired in 2019 from a more than 40-year career at DePaul University in Chicago, where he was one of the founding directors of the School of Accountancy and became an EY Distinguished Professor of Accountancy. He was the key driver behind adding Management Information Systems (MIS) to the Accountancy curriculum and establishing the School of Accountancy & MIS. Needles is credited with developing the first combined 150-hour undergraduate and graduate accounting program in Illinois in response to the new CPA licensing requirement. Further, Needles became an internationally recognized expert in international financial reporting and auditing and remains regarded for his expertise in college and executive education. His influence on global accounting and finance endures through his textbooks and publications in leading journals, which are consumed around the world. Today, Needles is a founding principal of Needles & Powers Inc., which provides educational resources and programs to Fortune 1000 corporations, consulting firms, and investment companies.
Notably, Needles has spent more than three decades volunteering with the AICPA, ICPAS, American Accounting Association, and other leading organizations within the accounting profession and academia. ICPAS is especially grateful for his leadership as a former chairperson of its board of directors and founding member and past president of the CPA Endowment Fund of Illinois, among countless other leading roles on ICPAS committees and task forces.
“Bel has been incredibly generous with his time and expertise over the years, which has benefited our organization, our members, and the accounting profession greatly,” Shapiro added. “Bel’s passion for training, mentoring, and encouraging others distinguishes him. As a founding member of the CPA Endowment Fund of Illinois, our charitable partner, he was instrumental in obtaining substantial contributions for accounting scholarship programs. Through these efforts, he set out to help pave the way for tomorrow’s CPAs. In his life and work, Bel has truly embodied that mission.”
Needles has received many awards recognizing his professional accomplishments, such as ICPAS’ Lifetime Achievement Award and Outstanding Educator Award, as well as the AICPA’s Educator of the Year Award. In addition, he received the Distinguished Alumni Award from Texas Tech University, the Joseph A. Silvoso Faculty Award of Merit from the Federation of Schools of Accountancy, the Ledger & Quill Award of Merit, and the Ledger & Quill Teaching Excellence Award. He was also named the Accountant of the Year for Education by the national honorary society Beta Alpha Psi and Outstanding International Accounting Educator by the American Accounting Association. Following his retirement, Needles received DePaul University’s Via Sapientiae Award, the highest award the university can bestow upon faculty and staff members in recognition of their distinctive and extraordinary contributions to the university throughout their professional lives.
Needles is a graduate of Texas Tech University, where he received his bachelor’s and master’s degrees. He later earned his doctorate from the University of Illinois at Urbana-Champaign.