Walter P. Schuetze

October 27, 2017
Walter P. Schuetze passed away on Friday, Oct 27, 2017 at the age of 85. He was the son of Herbert & Loretta Lillard Schuetze of Comfort, Texas.

Walter was preceded in death by his parents, his brother Harry Schuetze and his son Andrew Schuetze. He is survived by his wife, Jean; Children, Brian Schuetze and his wife Betty, and Gary Schuetze; Grandson, Bryce Schuetze and his wife Courtney, and Granddaughter Lori Schuetze; Great Grandchildren, Bradley Schuetze and Annalise Schuetze; Brother Fred Schuetze and his wife Judy; Sister, Annabelle Lindner and her husband Ralph; Numerous Nieces and Nephews.

Walter Schuetze's paternal grandparents immigrated from Germany in the 1890's and they lived on the same farm with Walter and his parents. He learned German before learning English and went on to graduate as class valedictorian from Center Point High School in 1949. He began his college education at Stephen F. Austin State College and transferred to the University of Texas in Austin in 1950 with the intent to major in English and foreign languages. In January 1951, he enlisted in the United States Air Force where he served as a Russian language specialist during the Korean War. Upon returning from the service in 1955, he returned to the University of Texas at Austin, where he took his first accounting class, which kindled a life-long enthusiasm for accounting. He received his baccalaureate degree with honors from the University of Texas in 1957.

Walter began his professional career in 1957, joining the firm of Eaton & Huddle which merged with Peat, Marwick, Mitchell & Co; now known as KPMG LLP. In 1965 he was named a partner in PMM&Co and then in 1973, he left the firm to become one of the original seven members of the Financial Accounting Standards Board, serving as a member from 1973 through mid-1976, when he returned to PMM&Co. In January 1992, he was appointed Chief Accountant to the United States Securities and Exchange Commission, serving through March 1995, when he retired. He was encouraged to come out of retirement in November 1997, and was appointed Chief Accountant of the Commission's Division of Enforcement and served until February 2000. He served as Consultant to the Commission's Division of Enforcement from March 2000 through March 2002 on accounting, auditing and enforcement matters. Following retirement, he served on various corporate boards of directors and chaired their audit committees.

In addition, he authored many articles on financial reporting and auditing issues of which 43 papers and speeches were published in 2004 in a book titled Mark-to-Market Accounting: True North in Financial Reporting. His writings emphasized his desire for simplified financial reporting.

Funeral services will be held on Saturday, November 4, 2017
at 2:30 p.m. at
Mission Park North
20900 IH 10 West
San Antonio, Texas