THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Monday, January 8, 1996 TAG: 9601070001
SECTION: BUSINESS WEEKLY PAGE: 10 EDITION: FINAL
TYPE: Cover Story
SOURCE: BY TOM SHEAN, BUSINESS WEEKLY
LENGTH: Medium: 60 lines
Throughout the day, phone calls come into the corner office from Goodman & Co. clients and employees, from business associates, and from other accounting firms.
``I rarely come in knowing exactly that I will do this, this and this. A lot of things come up,'' Donald M. Dale said in his eighth-floor office in the NationsBank building in downtown Norfolk.
That's because Goodman & Co.'s managing partner is balancing the firm's affairs with client matters and civic and accounting profession projects.
Dale, who also serves as chairman of Goodman's executive committee, admitted that the arrangement doesn't leave much time for long-range planning. He saves that for the four-mile walks that he takes each morning in the Larchmont area of Norfolk.
``That's when I get some of my best thinking done,'' the 56-year old Norfolk native said. ``You can't do it in snatches of time during the day.''
During his 30-year career at Goodman, Dale has represented the firm in scores of civic endeavors and accounting-profession matters.
In addition to serving on the boards of local business organizations like the Greater Norfolk Corp. and Forward Hampton Roads, he has been vice president and president of the Virginia Society of Certified Public Accountants.
In the process, Dale has became a vocal advocate for several of the accounting profession's causes. One is the drive to restrict accounting firms' exposure to lawsuits from disgruntled investors.
In December, Congress overrode a veto by President Clinton of legislation that significantly limits the financial liability of accounting firms for fraud by their corporate clients.
The Securities Litigation Reform Act makes it more difficult for individual investors to bring fraud suits against accountants, securities underwriters and company officials.
The measure was vigorously opposed by consumer groups and some lawyers but enjoyed broad support from investment bankers and corporations, and accounting firms.
``We're not trying to duck responsibility,'' said Dale, stating the accounting industry's argument. ``It can cost you hundreds of thousands of dollars to fight a frivolous law suit.''
Dale developed an interest in accounting while earning a bachelor's degree in commerce at the University of Virginia. After four years of active duty in the Navy as an intelligence officer, he interviewed at a handful of Norfolk CPA firms and took a job with Goodman & Co.
Today, the managing partner's toughest task involves sorting out misunderstandings that sometimes arise between members of Goodman's staff or between the staff and clients, he said.
``There's a lot of room for miscommunication. I don't think that's unique to Goodman & Co. It's a people problem.'' by CNB