Accounting Standards Pioneer Rupert Hoffman, 91, Announces his Retirement from PKF

Sixty five years after co-founding the accounting firm Fisher Hoffman in 1943, Rupert Hoffman (pictured right) retired in March this year from its direct descendant, PKF, at the grand old age of 91. At a time when accountants would find it inconceivable not to have audit procedures, manuals and strict standards to keep to, Hoffman can pride himself on being one of the pioneers who introduced greater rigour into South African accounting practice.

“When we started out,” says Hoffman, “our ambition was to build a medium-sized practice with the emphasis on technical excellence, since this was the only way to compete with the large international firms.” He visited the United States in 1950 and shipped back a large case of technical books dealing with auditing, accounting, financial analysis and other similar matters. He explains: “At the time, there was very little such literature available in this country. And there were few firms that operated with even a checklist. Over the ensuing years we built up a large number of working papers, auditing practices and standards, and these formed the foundation of our subsequent growth and recognition as a firm of repute.”

Early beginnings

After matriculating from Christian Brothers College in Kimberley, Hoffman went to Wits University, where he graduated with a B.Com degree in 1938. By 1941 he had added the letters CA (SA) to his name, and after a stint in the army he went into practice with Lawrence Fisher. Since he has only now stopped working, one might well ask to what he ascribes his longevity. “An even disposition, daily exercise, a healthy diet and an occupation one enjoys,” is Hoffman’s reply.

Fisher Hoffman, and now PKF, have always taken a keen interest in entrepreneurial businesses. Many of them have gone on to list on the Johannesburg Stock Exchange – indeed, PKF currently audits around 40 listed companies – so that the company now represents a wide range of large as well as growing companies. Hoffman, looking to the firm’s future without his presence, is confident it will continue to enjoy success. “PKF is well placed to give advice to emerging and black-empowered firms,” he says. “It’s the kind of work we’ve always been best at.”

In his tribute to Rupert Hoffman, Andrew Hannington, the current Chairman of PKF South Africa, said: “Everyone who knew Rupert marvelled at his entrepreneurial skills and his ability to solve problems for clients. His fellow directors – some younger than his own grandchildren – placed great value on his advice. He will be sorely missed by the whole PKF family.”