New York-based Big 4 firm Deloitte will invest $75 million to establish its new Making Accounting Diverse and Equitable (MADE) initiative, a commitment to generate more advisory, auditing and tax career opportunities and leadership pathways for the next generation of CPAs.
Included in the $75 million commitment is the Deloitte Foundation Accounting Scholars program, which is expected to fund $30 million in scholarships over the next six years to students pursuing a fifth-year master’s program in accounting from an accredited college/university program in the U.S., in an effort to increase representation of racially and ethnically diverse students in these programs. The remaining $45 million of the strategy will be spread across programs including:
- The Stride CPA readiness program to provide CPA candidates with real-time access to and instruction from experienced CPA tutors.
- Deloitte Academy: Accounting Edition, which collaborates with high schools, colleges, state CPA societies and various non-profits to bring accounting to life for thousands of historically underrepresented and underserved youth across the country.
- A historically Black colleges and universities (HBCU)/Hispanic-serving institutions (HSI) strategy to support faculty and administration with additional funding for curriculum development focused on the evolving skillsets needed by accountants.
- The Climb Fellowship, a program targeted at bringing mid-career accounting professionals across industries together to create a community and help position them for senior roles within their organizations.
“At Deloitte, we know that teams made up of diverse, inclusive professionals are more powerful, innovative and productive,” says Deloitte US CEO Joe Ucuzoglu. “We’re thrilled to make this contribution to help foster diversity in future generations of accounting professionals and ensure those from all backgrounds thrive in this profession we care so deeply about.”