The American Institute of CPAs awarded the 2005 Gold Medal for Distinguished Service, its highest honor, this week to former Financial Accounting Standards Board chair Dennis R. Beresford.

Beresford, now the Ernst & Young Executive Professor of Accounting at the University of Georgia Terry College of Business, served as FASB chairman from 1987 to 1997. Prior to joining the board, he was national director of accounting standards for Ernst & Young.

The award was presented by AICPA Awards Committee chairman Thomas W. Rimerman on Tuesday during the institute's Fall Council meeting in Orlando.

"Dennis has contributed significantly to both the financial markets and the accounting profession through his long and distinguished career," said Rimerman. "His dedication, involvement and leadership have spanned more than 40 years."

Beresford has served on many AICPA committees, including the Accounting Standards Executive Committee, which he also chaired. He also served as an elected at-large member of Council.

He presently serves on the boards and chairs the audit committees of three public companies, and is a member of the Nasdaq Listing and Hearing Review Council.

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