"Increasing the number of minority Ph.D. recipients and business school professors helps pave the way for countless others who will benefit from more diverse campuses around the nation," said Bernard J. Milano, President of the KPMG Foundation and The PhD Project.  "This year's Accounting Minority Doctoral Scholarship recipients are already strong leaders and we're pleased to continue providing financial support and guidance to help them pursue their laudable goals."

This year, the Foundation granted 10 new awards of $10,000 each and renewed 31 awards of $10,000 each. Scholarships are renewable for a total of five years at $10,000 a year

In conjunction with The PhD Project, a related program whose mission is to increase the diversity of business school faculty, the Minority Accounting Doctoral Scholarship program has helped to more than triple the number of minority business professors in the U.S. since The PhD Project first began in 1994. Today there are 909 minority business school professors teaching in the United States.  More than 400 minority students are currently enrolled in business doctoral programs with another 45-50 scheduled to start this September.  The Foundation has earmarked more than $8.6 million in scholarships to date, providing financial support to approximately three-fourths of all minority accounting doctoral students in the nation. 

"We continue to be pleased with the significant and growing impact of the KPMG Foundation's Accounting Minority Doctoral Scholarship program in our nation's business schools," said Manny Fernandez, national managing partner of university relations and recruiting at KPMG LLP. "More minority professors results in a greater pool of role models and mentors for other minorities, an important contributor to inspiring greater minority representation in accounting and other business fields."