Described as a hard-working, all action accountant who wasn’t afraid to “ruffle a few feathers”, he also had the ability to get things done. Henry Benson became one of the most influential accountants of his generation, who had a major impact on developments in the profession, including the creation of the International Accounting Standards.

In his autobiography “Accounting for Life”, Benson claimed that he learnt more about practical accounting and dealing with people during his Second World War service, than he had learned before or after. Benson was known for insisting on order and discipline and could be very stubborn and direct; however, he also had a compassionate side and an interest in helping people.

Pre-war life

Henry Alexander Benson was born on 2 August 1909 in Johannesburg, the son of Alexander Stanley Benson, solicitor, and Florence Mary, nee Cooper. Bensons mother was the daughter of Francis Cooper, a partner in Cooper Brothers & Co, one of the leading firms of Chartered Accountants in the early 20th century.

At the age of 14 Benson was introduced to the partners at the London offices of Cooper Brothers & Co, where it was agreed that his future would lay as a chartered accountant. Benson commenced his articles with the firm in October 1926, with the usual premium of 500 guineas being waved, due to the family connection. Benson passed 11th in the intermediate exam and 4th in the final exam and was accepted into ICAEW in 1932, becoming a salaried partner at Coopers in 1934 at £1000 pa. Benson later became a Fellow in 1939, a member of the ICAEW Council from 1956-75 and ICAEW President in 1966-67.

War service

Following the outbreak of the Second World War, Benson obtained a commission in the Grenadier Guards, serving in the UK. However, in 1942 has was recruited by the Special Operations Executive (SOE), promoted to Major and given the code symbol G.M.175. His first role was the manager of SOE’s New York Office, where his SOE file state that, he “undertook the complete reorganisation of the accounting system and devoted all his energies to the work of obtaining specialist radio and electronics equipment needed for the undercover operations of SOE.” When he left New York in July 1943, a confidential report describes Benson as, “the hardest working staff officer I have ever had the good fortune of serving with.”

Benson left SOE temporarily in August 1943 to work for the Ministry of Supply as Director of Factories (Accounts), with responsibility for the 10,000 accounting related staff across all the ordinance factories, supplying guns, ammunition and explosives to the three services. Once again, he reorganised the accounting systems, this time with specific focus on control of cash, stores, wages and costings and developed detailed operational manuals in these areas. Benson was in this role for 10 months and when he left, he claimed that the accounts were in good shape, and the monthly returns were up to date. Benson admitted that he instilled discipline in the staff by touring the factories dressed in full Grenadier Officer uniform and tapping his swagger stick on the floor to point out anything he didn’t like. He was tough on staff who didn’t follow the rules that were set out in the manuals.

Benson returned to SOE in late 1944, as the war in the eastern Mediterranean was coming to an end. His was tasked with closing the Cairo base of its operations in Greece and the Balkans, known as Force 133, and send the staff and equipment to other theatres of war. Benson was promoted to Colonel and dispatched to Cairo. He set about the work with his usual vigour and within three months all staff had been transferred and the Force liquidated.

However, Benson also showed his compassionate side when he was  concerned about the families of Greek patriots who had been killed during the German occupation in the service of SOE, and so in January 1945 he flew back to London and met with his friend John Venner, SOE’s Director of Finance. Together they went to the Treasury and obtained £200,000 from Secret Funds to provide financial support for the families of any accredited member of the Greek Resistance movement. The funds were paid into a joint bank account and by 1961, when the account was closed, over 400 families had benefited from the fund.

Benson was “demobbed” on 1 January 1946 and returned to Cooper Brothers. He was awarded a CBE in 1946 for his war-time service.

Post-war life

After the war, Benson devoted himself to the growth of Cooper Brothers including in 1957 a link with the American firm of Lybrand. Benson also started to expand his own career, which would lead him to be involved in a bewildering variety of committees and public bodies. Taxation, transport, energy, horse racing, defence procurement, housing, education and the law, were among the policy areas which Benson scrutinised. 

Benson was Knighted in 1964; a GBE in 1971 and a life Peer ten years later.  He retired from Coopers in 1975 and was recruited by the Bank of England as an industrial advisor until 1983, during a turbulent period of British industry.

Benson acquired quite a reputation as the person to call on whenever there was “an awkward job to be done, an inquiry to head, a tricky committee to chair”. In 1984 he was awarded the Founding Societies Centenary Award and the headline in Accountancy magazine said it all: ‘When there’s a big job to be done, it’s ‘Send for Benson!’’

Establishment of International Accounting Standards

As ICAEW President, Benson His work on the Council of the Institute of Chartered Accountants in England and Wales from 1956-1975, saw him establish an international alliance with ambitious plans to harmonize global accounting and auditing standards  (1965) and lead an initiative to develop International Accounting Standards (1973).

As ICAEW president, Benson pioneered, with the US and Canadian Institutes, the practical steps that led to the creation of the International Accounting Standards Committee, of which he was the first Chairman from 1973-1975. It would be no exaggeration to describe him as the principal architect of international accounting standards.

Benson died on March 5, 1995, aged 85.