Obituary: Former AICPA President LeRoy Layton

LeRoy “Lee” Layton, AICPA president and board chairman (the equivalent to the current position of AICPA chairman) from 1972 to 1973, died March 22 in Longwood, Fla. He was 94.

Layton, who was the AICPA vice president from 1970 to 1971, was also a former member and chairman of the Accounting Principles Board. He received the Gold Medal Award for Distinguished Service, the Institute’s highest honor, in 1975 and the John J. McCloy Award, given by the Public Oversight Board for outstanding contributions to audit excellence, in 1990. He served on the Commission on Auditors’ Responsibilities during its existence from 1975 to 1977 and on the Special Investigations Committee from 1979 to 1985.

“LeRoy was a respected leader within the profession who … contributed significantly to the AICPA,” Barry Melancon, AICPA president and CEO, said in a prepared statement. “He combined technical leadership with policy leadership and was a person who truly loved and nurtured our profession.”

Layton graduated from Drexel University in Pennsylvania in 1937 and began his CPA career with the firm then known as Main and Co. He became a partner in 1944, managing partner in 1964, senior partner of Main Lafrentz & Co. in 1973, and served as chairman of the board of management of McLintock Main Lafrentz-International (now part of KPMG) from 1975 until his retirement in 1977.

A member of Drexel University’s board of trustees from 1964 to 1986, Layton was a member of the Drexel 100, honored with a Distinguished Alumni Award, and received the A.J. Drexel Award for service and dedication to the university. He was also a member of the Pennsylvania Institute of CPAs, the New Jersey Society of CPAs and the New York State Society of CPAs.