David R. Bean
2021 Hall of Fame Inductee
David R. Bean has been a passionate advocate, leader, and teacher in the pursuit of excellence in government financial accounting and reporting.
His advocacy for improved accountability and transparency traces back to his time as deputy director of the Illinois GAAP Implementation Project, which resulted in one of the earliest examples of a state-level Annual Comprehensive Financial Report developed in accordance with generally accepted accounting principles. His commitment to government excellence didn’t waver as he moved on to become director of GFOA’s Certificate of Achievement program, the last director of the NCGA, and finally to be GASB’s Director of Research and Technical Activities. Over the years, he has consistently and persuasively encouraged governments throughout the nation to adopt GASB standards and follow GAAP. Today, thousands of governments have adopted these practices.
His leadership is characterized by the evolution of GAAP and the maturation of the GASB standards. Under his guidance, GASB standards have become more comprehensive, relevant, and impactful to the changing environment of government itself.
Bean has epitomized the concept of due diligence. He recognized that the process by which proposed standards are debated and adopted is almost as important as the content.
His career demonstrates enduring and positive contributions to the profession of public sector financial accounting and reporting, and he has helped literally thousands of public sector practitioners improve their craft. He is a role model for the next generation.