Zeff, who is Keith Anderson professor of accounting at Rice Jones Graduate School of Business, receive his award in a ceremony in San Diego on the 9 August.
In 2009, Zeff became the fourth person, and first academic, to be awarded honorary membership to the ICAEW.
Zeff spent five years as editor of the Accounting Review as well as serving for a year as the president of the association.
He has published over 30 books and more than 100 articles, and serves on the editorial board for 15 research journals internationally.
Zeff has been a professor in the Rice University accountancy department since 1978.
Throughout his career he has received numerous other awards and accolades, including in 2011 being honoured with the inaugural International Gold Service Award by the International Federation of Accountants.
He has served on the advisory council for the Financial Accounting Standards board and has been on the academic panel for the UK Accounting Standards Board and the Financial Reporting Council.
In 2002, Zeff was inducted into the Accounting Hall of Fame.