- Honorary Degree (1975)
- Doctor of Laws
- Bloomington, Indiana
- Presenter: John William Ryan
- Kelley School of Business Academy of Alumni Fellows (1974)
Marshall S. Armstrong is the Chairman of the Financial Accounting Standards Board, widely recognized as the most responsible and prestigious position in the field of accounting in the United States. He is also the Chairman of the' Financial Accounting Standards Advisory Council. Prior to assuming his present offices on November 1, 1972, he was the Managing Partner of Geo. S. Olive & Co., one of the leading regional CPA firms in the United States.
During the past twenty years, Mr. Armstrong has been active in national affairs of the American Institute of Certified Public Accountants. He served as President of the Institute in 1970-71 and as a member of its Board of Directors, and is a lifetime member of its Governing Council. In addition, he served six years as a member of its Accounting Principles Board (predecessor of the FASB), five years as a member of its Committee on Auditing Procedure, and one year on the Practice Review Committee. He served as Chairman of the Project Advisory Committee for the Accounting Research Study on Corporate Stockholders' Equity, Chairman of a Special Committee to Study Displacement of Local and Regional CPA Firms from Engagements Involving Public Sale of Securities, Chairman of the Special Committee on Implementation of the Wheat Report, and was a member of the National Conference of Bankers and CPAs. He is a Past President of the Indiana Association of Certified Public Accountants, served on its Board of Directors, and was a member of the Board of Trustees for the Association's Educational Foundation.
He was one of the founders and first Chairman of the Board of Governors of The American Group of CPA Firms, an association of regional firms located throughout the United States.
Mr. Armstrong was born in Indianapolis and spent part of his boyhood in Shelbyville, Indiana. He obtained his college education by attending night school at Butler University and Indiana University. During his professional career in Indianapolis, he was active in Indiana University affairs, serving on the Advisory Committee of the University's Management Institute and as a lecturer in accounting for ten years at the University's Indianapolis Center. In 1974 he was elected a member of the I.U. Academy of Alumni Fellows. An honorary member of Beta Alpha Psi and Beta Gamma Sigma, Mr. Armstrong was the recipient of the 1973 New York City Beta Gamma Sigma honor award. He was the recipient of the 1975 Distinguished Service Award from the University of Hartford's Center for the Study of Professional Accounting.
He currently serves as a member of the Dean's Advisory Board of the School of Business of Indiana University and is a member of the Board of Overseers of The Wharton School of the University of Pennsylvania. He also serves as a member of the Advisory Board of the Securities Regulation Institute of the University of California. Other activities have included service as President of I.U. Executive Development Program and also Lecturer in Accounting and Financial Statement Analysis for the American Institute of Banking. Mr. Armstrong and his wife, Marjorie, now reside for most of the year in New Canaan, Connecticut, but also maintain a residence in Indianapolis and a summer home in Harbor Springs, Michigan. They have a son, two daughters, and two grandchildren.