Chicago (Aug. 21, 2002) -- Harvey Kapnick, chairman and chief executive of Arthur Andersen in the 1970s and a champion of separating audit work from consulting, died Friday at the age of 77.

Kapnick reportedly suffered a heart attack at his home on Keewaydin Island, south of Naples, Fla., Associated Press reported.

An Adrian, Mich., native, Kapnick joined the accounting firm in Chicago in 1948 and became a partner eight years later. He was elected to the board of directors in 1966.

His tenure as chairman and chief executive from 1970 to 1979 was marked by his controversial proposal that the fast-growing consulting businesses be separated from accounting. The issue ultimately led him to step down after Andersen partners rejected it, AP said.

Kapnick went on to hold executive posts with General Dynamics and Chicago Pacific in the 1980s and served on the president's transition team during the Reagan administration.

-- Electronic Accountant Newswire staff

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access