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Report of the General Board on the re-establishment of the Price Waterhouse Professorship of Financial Accounting

1. In 1987 the University approved the establishment, and the assignment to the Faculty of Economics and Politics, of a Professorship of Financial Accounting, supported by a benefaction from the accounting firm of Price Waterhouse, for a period of ten years (Reporter, 1986-87, p. 579). In addition to meeting the costs of the Professorship, the benefaction provided funding towards the cost of a University Lectureship in Accounting and part-time secretarial and research assistance for the Professor. Professor G. Whittington, F, was appointed to the Professorship from 1 October 1988 for a period of ten years.

2. Price Waterhouse have now generously offered to provide a further benefaction to meet the cost of extending Professor Whittington's tenure of the Professorship from 1 October 1998, on the same financial basis as previously, for a period of five years in the first instance. The Faculty Board of Economics and Politics have welcomed this generous offer and have assured the General Board of the continuing importance of the field of financial accounting in both undergraduate and postgraduate teaching. The Faculty Board have also assured the General Board that no additional costs would fall on general University funds if the Professorship were re-established. The General Board have agreed to reappoint Professor Whittington to the Professorship, subject to its re-establishment.

3. The General Board recommend:

I. That the generous offer by Price Waterhouse of a benefaction to re-establish the Price Waterhouse Professorship of Financial Accounting for Professor G. Whittington for a further period of five years be gratefully accepted.

II. That the Price Waterhouse Professorship of Financial Accounting be re-established for five years from 1 October 1998, placed in Schedule B of the Statutes, and reassigned to the Faculty of Economics and Politics.

19 November 1997

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