The inducting accountants to a ‘Hall of Fame’ originated at the Ohio State University in 1950. The award is highly selective, and is given only to very prominent accountants who have made lasting contributions to the field. Today, the award given as the American Accounting Association Hall of Fame, and tend to be dominated by Americans. Similar awards are now given in Britain as the British Accounting Association Hall of Fame and by The University of Melbourne as the Australian Accounting Hall of Fame. Naturally, the awards tend to be highly country specific and are given mainly to Accounting academics.
The vision of the Institute of Certified Management Accountants establishing a Global Accounting Hall of Fame® and a Global Management Accounting Hall of Fame ® was to ensure that accounting academics and practitioners globally were given the recognition they deserve.
Individuals are inducted globally to the Halls of Fame in recognition of their significant contribution to the profession in the following regions: Australia; Hong Kong; Cambodia; China; Cyprus; India, Indonesia; Iran; Lebanon; Malaysia; PNG; Philippines; Sri Lanka, UAE and Vietnam. Each Region will appoint its own Selection Committee of senior members in the profession and academia to whet the nominations and select the inductees to be awarded with the honour. As such, the selection committee will have a ‘grass-roots’ knowledge to the contributions made by the inductees. Those nominated for the Award need not be ICMA members, but they must be nominated by a financial member of ICMA.
There will be four Hall of Fame Awards in each country.