The Public Company Accounting Oversight Board announced the 77 recipients of its 2013-14 academic scholarships, hailing from as many colleges and universities.

Now in its third year of granting scholarships, the PCAOB Scholarship Program was created in response to the Sarbanes-Oxley Act of 2002, which provides that funds generated from the collection of monetary penalties imposed by the PCAOB are to be used to fund a merit scholarship program for students in accredited accounting degree programs.

"The PCAOB is pleased to work with the academic community through this scholarship program as a means of encouraging outstanding students to pursue a career in auditing," stated PCAOB Chairman James R. Doty. "It is a career choice that is critical to the effective functioning of our capital markets."

To be eligible for PCAOB scholarships, students must be enrolled in an accounting degree program at an accredited, participating, nominating institution. To qualify, students must be enrolled in a bachelor’s or master’s degree program in accounting, demonstrate an interest and aptitude in accounting and auditing, demonstrate high ethical standards, and not be a PCAOB employee or child or spouse of one.

As the scholarship program is merit-based, educational institutions are encouraged to give consideration to students from populations historically underrepresented in the profession, according to the PCAOB.

More information on the program, the selection of nominating institutions, and this year’s 77 academic institutions with 2013-14 scholarship recipients can be found on the PCAOB website.