Background

Arthur Lowes Dickinson, the son of a distinguished portrait painter, was educated at Charterhouse School and graduated from King’s College, Cambridge University in 1882 with a first-class honours degree in mathematics. After graduation, he was articled to the firm Edwards, Jackson and Browning, where he came first in the Institute of Chartered Accountants intermediate exam in 1883 and joint first in the final exam three years later. 

In 1888, he joined a small City of London firm, eventually becoming Senior Partner. In 1901 the firm was absorbed into Price Waterhouse, when Sir Arthur was recruited to resolve severe managerial issues in Price Waterhouse in the US.

He went to the US in April 1901, and by November of the same year, was able to continue expanding of the US firm by opening an office in St Louis. To raise Price Waterhouse’s US profile and dispel the misconception that it was an English firm, he embarked on some early advertising, sending 36,000 announcements of his joining the US firm to bankers, lawyers and the financial press. Whilst his fellow partners in London considered that advertising was “derogatory to the dignity of the firm”, it was deemed acceptable in the circumstances, and it clearly achieved its aim, as under his leadership the US firm expanded and prospered rapidly. By 1911, the US firm had 11 offices and 200 staff, making it larger than the UK firm. 

Sir Arthur played an important part in establishing the accountancy profession in the US, serving as the President of the Federation of Societies of Public Accountants in 1904. He also did much to establish both the principles of consolidated accounting and international accounting standards. 

Although he had become a US citizen, Sir Arthur returned to the UK in 1911, when he retired from the US practice. He remained as a UK partner, with special responsibility for issues arising in London that related to the US, until his retirement in 1923. In addition to his innovation of advertising, he was involved in what could have been the first major merger of accountancy firms, when in 1920 he was one of four partners who discussed the possibility of Price Waterhouse merging with W B Peat and Co.

During World War I, like four of his fellow partners, he was engaged in government work, having been recruited by the Ministry of Munitions to serve as financial adviser to the Coal Controller. He was subsequently one of five Price Waterhouse partners later knighted for his war work.

Arthur Lowes Dickinson died in 1935.