For the past 60 years, Fred Lockwood has been busy serving his community and Nebraska in numerous ways. After graduating from the University of Denver School of Accountancy, he received his Nebraska CPA Certificate No. 627 in August 1962 and his Permit to Practice in 1964. Today, Lockwood is the longest active CPA in the state of Nebraska—and this month, he celebrates 59 years of membership in the Nebraska Society of CPAs.
In the Beginning
“When I became a member of the Society, the staff consisted of Arnold Magnuson as the part-time executive director,” recalled Lockwood. Magnuson, the Society’s first executive director, was hired in 1958—just four years before Lockwood received his CPA certificate and a year after the passage of the Nebraska Public Accountancy Act in 1957.
Throughout his career, Lockwood has counseled individuals and businesses alike on investment, tax, estate, and financial planning issues. “When I started in public practice in January 1964 in Scotts Bluff County, I was the only CPA in Gering with eight in Scottsbluff. There were seven public accountants.” Public accountants were grandfathered into the CPA profession in 1958. Today, there are no licensed public accountants in Nebraska and references to public accountants have been eliminated from the Public Accountancy Act.
Lockwood opened his first accounting office in Mitchell, Neb. In 1973, the office evolved into Fred A. Lockwood & Co., PC. Then in 2017, Lockwood joined forces with Eskam & Eskam CPAs, PC to become E&H Certified Public Accountants & Management Consultants, PC, with offices in Scottsbluff, Neb., and Kimball, Neb.
Making an Impact
In 1984, Lockwood was one of the Nebraska Economic Forecasting Advisory Board’s founding members, serving on the board for 32 years and as chairman of the board for eight two-year terms. The Nebraska Economic Forecasting Advisory Board came into existence under Gov. Bob Kerrey. Its projections are used by the Governor and the Nebraska Legislature to craft the state’s budget. Lockwood said the purpose of the Forecasting Board was to take politics out of revenue projections for the state. In March 2020, the Legislature passed Legislative Resolution 328, introduced by State Senator John Stinner (Dist. 48) of Gering, who, as chairman of the Appropriations Committee, works closely with the Forecasting Board. LR328 honored Lockwood for his commitment and lifetime of service to the state.
In addition to the Forecasting Board, Lockwood served on the Nebraska Community Foundation Board of Directors from 2000 to 2009; the Nebraska Chamber of Commerce & Industry Board of Directors from 1990-1999; and the Scotts Bluff County Board of Commissioners from 1967-1979, including five years as chairman.
Lockwood entered politics and ran for U.S. Senate in the 1984 Nebraska Republican Primary Election against five other candidates. Although he didn’t win the Primary, he was the top vote getter in more than half dozen Panhandle counties as his friends and neighbors turned out to support him. In 1990, with a strong desire to “bring sound financial management practices to the federal government,” Lockwood ran for Nebraska’s Third Congressional District but his bid for the seat came up short. It is believed he may have been the first Society member to run for elected federal office.
Serving the Nebraska Society of CPAs and the profession has been a priority for Lockwood. He gave more than a decade of service to the Society.
Serving the Nebraska Society of CPAs and the profession has been a priority for Lockwood. He gave more than a decade of service to the Society, serving on the Society Board of Directors, Governmental Accounting & Auditing Committee, and Legislation Committee, among others. In 1986, he received the Nebraska Society of CPAs’ Public Service Award, which recognizes Nebraska CPAs who have performed outstanding public service in their communities. Public service took precedence both for Lockwood and his wife Carol, who was also a licensed CPA and was the recipient of the Society’s Distinguished Service to the Profession Award in 2000. A partner in their firm, Carol sat on the Nebraska Board of Public Accountancy, serving as chairman of the State Board.
Significant Changes in the Profession
“Dating back 59 years, the most significant change in the profession is the number of Certified Public Accountants who are women,” said Lockwood. “My first 10 years in public accounting there were no female CPAs in the Panhandle of Nebraska. Today in Nebraska … half of the membership in the Society are women. The complexity of our business environment, regulations, and rules have been the second major change in the profession over the span of 59 years.”
Say Thank You
A number of years ago, Lockwood received a plaque from one of his staff that read:
“Do you remember who gave you your first break? Someone saw something in you once that’s partly why you are where you are today. It could have been a thoughtful parent, a perceptive teacher, a demanding drill sergeant, an appreciative employer, or just a friend who dug down in his pocket and came up with a few bucks. Whoever it was had the kindness and foresight to bet on your future. Those are two beautiful qualities that separate the human being from the orangutan. In the next 24 hours, take 10 minutes to write a grateful note to the person who helped you. You’ll keep a wonderful friendship alive. Matter of fact, take another 10 minutes to give somebody else a break. Who knows? Someday you might get a nice letter. It could be one of the most gratifying messages you ever read.”
One day, more than 15 years ago, Lockwood took the time to write a thank you note to the individual who he considered to be his mentor in accounting. “He answered my letter thanking me,” Lockwood said. “He passed away not more than two years later. I often think about the fact I did do something positive.
“In closing, perhaps this will motivate a couple of individuals to do something positive to make someone, including themselves, feel good.”
Thank you, Fred, for a lifetime of service to your community, your state, and your profession, and for continuing to guide us down the right path.
