Deloitte Commits $75 Million to DEI Efforts in Accounting

By:
Chris Gaetano
Published Date:
Jun 7, 2021
By Bjørn Erik Pedersen - Own work, CC BY-SA 4.0

Deloitte announced a new initiative, Making Accounting Diverse and Equitable (MADE), a $75 million program to generate more advisory, auditing, and tax career opportunities and leadership pathways for the next generation of CPAs. Its goal is to increase racial and ethnic diversity and to help "students of color see and realize their future in business through the prism and possibilities of accounting."

Under the program, $30 million will be devoted to scholarships for students pursuing a fifth-year master’s program in accounting from an accredited college/university program in the United States, in an effort to increase representation of racially and ethnically diverse students in these programs. The scholarship will cover 100 percent of tuition at participating universities with a mutual desire to increase diversity in master’s programs, and, in turn, the accounting profession. Applications for the 2022 school year will be collected in the fall of 2021 by participating universities with scholarships granted in late 2021.

The initiative also includes the Stride CPA readiness program, which provides up to 13 weeks of fully paid time, the majority of which is dedicated to studying, and covering exam costs. It also provides real-time access to and instruction from experienced CPA tutors. The inaugural Stride CPA readiness program will unfold this summer for a cohort of the Fall 2021 starting class.

Deloitte and the Deloitte Foundation will also support faculty and administration with additional funding for curriculum development focused on the evolving skill sets needed by accountants; they will also collaborate with high schools, colleges, state CPA societies and various nonprofits to bring accounting to life for thousands of historically underrepresented and underserved youth across the country.

The initiative further encompasses a fellowship program targeted at bringing Black and Hispanic mid-career accounting professionals across industries together to create a community and help position them for senior roles within their organizations.

There will also be a working group of racially and ethnically diverse business, academic and community leaders to bring external perspectives, challenge Deloitte's thinking, and create a forum to engage with one another.

"At Deloitte, we know that teams made up of diverse, inclusive professionals are more powerful, innovative, and productive," said Joe Ucuzoglu, CEO of Deloitte US. " 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."

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