More than 70 CPA firms and several state CPA societies are aiming to reverse the shortage of accounting professors at U.S. colleges and universities by providing $15 million to finance the educations of Ph.D candidates.

The Accounting Doctoral Scholars program will be administered by the American Institute of CPAs Foundation and will provide funding for up to 30 new Ph.D candidates in audit and tax each year for four years. Applicants must have recent and proven performance in audit and tax in a public accounting firm. The firms will recruit top employees for the program and encourage them to become accounting professors.

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