Cooper exposed the fraud at WorldCom, the largest corporate fraud in history. At the time, Cooper was serving as vice president of internal audit for the 25th largest U.S. company. Her decision to take her findings to WorldCom's board despite discouragement resulted in the company admitting it had inflated its profits by $3.8 billion -- a number that has since grown to $11 billion. Her efforts landed her on the cover of Time Magazine after being named one of their "Persons of the Year" in 2002.

"We are honored to have Cynthia Cooper as one of the inductees into this year's AICPA Business & Industry Hall of Fame," said Barry Melancon, CPA, president and CEO of the AICPA. "She represents all the key virtues of the AICPA and the Hall of Fame, but particularly integrity and leadership. All three candidates this year faced tough competition and represent our profession at the highest level of achievement and standards," he continued.

The Annual AICPA Business & Industry Hall of Fame honors CPAs who demonstrate strong business ethics, lead by example and commitment, provide insight and vision using knowledge of broad business issues, and inspire and motivate others to excellence.

The induction ceremony will take place October 29 at this year's AICPA Fall Business & Industry Financial Executives Forum in Indian Wells, Calif.

The two other Hall of Famers to be inducted this year are John Higgins, CPA.CITP, co-founder of consulting company, CPA Crossings, and Jeff Zydeck, CPA, CFO of Peerless Steel. Both inductees were noted for their contributions to advancing the use of technology in accounting.

Fifteen finalists were considered by a panel of judges assembled by the AICPA. The judges were David Blansfield, publisher, Business Finance Magazine, Glen Elias, corporate controller of CH2M Hill and one of last year's winners, Bob Mahan, CFO, Ajilon Finance.