McGladrey's Richard Caturano Elected Chairman of AICPA
Industry leader helped build one of New England’s largest CPA firms
BOSTON, MA – Richard Caturano with McGladrey LLP, one of the nation's leading providers of assurance, tax and consulting services, has been named as the new chairman of the American Institute of Certified Public Accountants (AICPA), the world's largest member organization representing the accounting profession.
In his acceptance speech, Caturano traced his path from a blue-collar upbringing in Massachusetts to the highest rungs of the accounting profession. One of his chief priorities as chairman, he said, is to promote broader diversity among CPAs, particularly at the leadership level, so that others can benefit from the same rewarding career opportunities.
"We have to maximize our talent pool by making sure everyone in America - regardless of background, race, gender, religion or anything else - is aware of the rewards and possibilities of the accounting profession," said Caturano. "In our complex, information-driven, 24/7 world, we must be sure to get the best and brightest, regardless of their backgrounds."
Caturano was elected to the one-year volunteer post this morning by AICPA's Council, which wraps up its annual fall meeting today. William Balhoff, managing director and CEO for Postlethwaite & Netterville in Baton Rouge, La., was voted in as vice chair.
Throughout his career, Caturano has specialized in serving middle market companies, and he cites the thousands of jobs created by clients as a point of professional pride. He was a founding member of Vitale, Caturano and Company, which built deep expertise in the high-tech, biotech, manufacturing and professional services sectors. By the time it merged with McGladrey in 2010, it had grown into New England's largest full-service, regional accounting firm and was widely recognized for enlightened employment practices.
"We built a culture in the firm that embraced change," Caturano said. "I've always believed that's what CPAs do."
Besides promoting diversity, Caturano said the accounting profession must continue to be nimble in its response to globalization, cyber-security concerns, the need to create a better financial reporting framework for private companies, and making the profession more attractive to the best and brightest of the new generation, among other issues.
"Rich's leadership has contributed greatly to McGladrey since July 2010 when we acquired Caturano & Company, a firm that he co-founded," said Joe Adams, managing partner and CEO of McGladrey. "Under Rich's leadership, Caturano & Company experienced unprecedented growth as he led the team in their efforts to understand clients' needs and to exceed their expectations. On top of his commitment to clients, Rich has been deeply involved in enhancing the accounting profession throughout his career. McGladrey is so proud that he has been chosen for this important leadership role with the AICPA."
Caturano served as vice chairman of the AICPA for the past year, and was a member of the organization's board from 2009-2011 and its governing Council from 2006-2008. He was president of the Massachusetts Society of Certified Public Accountants from 2005-2006. Among other honors, Caturano routinely appears on Accounting Today's Top 100 list of most influential people in the profession.
He graduated with a B.S. in Accounting and an M.S. in Taxation from Bentley University, and is also a graduate of Harvard Business School's Leading Professional Service Firms executive education program.
Among other hobbies, Caturano rides a Harley-Davidson Road King motorcycle to unwind and enjoys cooking. In fact, he owns two wood-burning pizza ovens – one in his outdoor dining area and a mobile version that he tows to tailgating events during home games of the New England Patriots.
Caturano and his wife, Barbara, have two children, Christina and Anthony and a grandson, Rhys Richard Ryan. He lives in Gloucester, Mass.
About the AICPA
The American Institute of Certified Public Accountants (AICPA) is the world's largest member association representing the accounting profession, with nearly 386,000 members in 128 countries and a 125-year heritage of serving the public interest. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting.
The AICPA sets ethical standards for the profession and U.S. auditing standards for audits of private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination and offers specialty credentials for CPAs who concentrate on personal financial planning; fraud and forensics; business valuation; and information technology. Through a joint venture with the Chartered Institute of Management Accountants (CIMA), it has established the Chartered Global Management Accountant (CGMA) designation to elevate management accounting globally.
The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.
Media representatives are invited to visit the AICPA Press Center.
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