The University of Maryland's Robert H. Smith School of Business has announced its collaboration with the Deloitte Foundation in the Deloitte Foundation Accounting Scholars Program (DFASP).
Launched in 2021, the DFASP works in parallel with Deloitte's MADE (Making Accounting Diverse and Equitable), a $75 million commitment to fuel greater racial and ethnic diversity in accounting and tax and generate more opportunities and leadership pathways for the next generation of CPAs.
The Deloitte Foundation expects to fund $30 million in scholarships for students over the next several years, including students interested in pursuing a fifth-year master's degree in accounting, master's of tax or master's of accounting with a concentration in audit, advisory or tax through the Deloitte Foundation Accounting Scholars Program.
The Foundation is collaborating with nearly 20 participating colleges and universities across the US, including UMD's Smith School, in an effort to increase representation of racially and ethnically diverse students in these programs. DFASP participating schools and the Deloitte Foundation will cover 100% of tuition (excluding books and living expenses) for selected students.
Deloitte Foundation President Erin Scanlon says the funding will help accelerate innovation and equity in education to build pathways to opportunity for the workforce of tomorrow. "We are very excited to bring the Deloitte Foundation Accounting Scholars Program to more colleges and universities this year to engage more diverse students in pursuing a career in accounting or tax."
Assistant Dean of MS Programs for the Smith School Emanuel Zur calls the collaboration with the Deloitte Foundation a vital move to expand the opportunities for students who are underrepresented in accounting and tax to gain advanced knowledge extending far beyond the fundamentals in accounting.
"In doing so, we are proud to enhance the Smith School's equitable environment to critically strengthen the pipeline of racially and ethnically diverse talent entering a CPA profession that is becoming more perceptive and sensitive to the changing landscape of diversity, equity and inclusion in the workplace."
Applications for the 2023-2024 school year opened in the fall, with scholarships to be granted in spring 2023. Interested students should apply for admission to the Smith School, and then separately apply to be considered for the DFASP. Each school will select the scholarship recipients.
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