Deloitte has announced the establishment of a $75m Making Accounting Diverse and Equitable (MADE) commitment to generate more advisory, auditing and tax career opportunities and leadership pathways for the next generation of certified public accountants (CPAs).
The new commitment represents a “bold vision” for the accounting profession, both in terms of increasing racial and ethnic diversity, and helping students of color see and realize their future in business through the “prism and possibilities of accounting”.
MADE combines both financial support and the depth of resources an organization of Deloitte’s size can bring to attract diverse individuals into the accounting field and support them as they chart their pathway from high school to business professional to leadership in the profession.
Included in the $75m commitment is the Deloitte Foundation Accounting Scholars program which aims to fund $30m in scholarships to students pursuing a fifth-year master’s program in accounting from an accredited college/university program in the United States over the next six years.
The remaining $45m will be delegated to addressing barriers faced by professionals recruited through various schools or organizations when taking the CPA exam by providing up to 13-weeks of fully-paid time, the majority of which is dedicated to studying, and covering exam costs.
Lara Abrash, CEO of US audit and assurance business, Deloitte, said: “I couldn’t be more hopeful about the future of the accounting profession – racial and ethnic diversity is an essential part of that future.
“Accounting is a fascinating career, providing strong job security, high income levels, and many avenues to leadership.”
She added: “In an increasingly complex business world, this skill is and will continue to be more valuable than ever. The representation of racially and ethnically diverse CPAs in our profession is unacceptably low and bringing these voices to the conversation requires decisive, bold investments.”