Market Watch reports that the KPMG Foundation announced Monday that they were awarding $470,000 to minority accounting doctoral scholars. The award was granted to 12 new recipients as well as 35 applicants. KPMG has awarded over $10.9 million to minorities since 1994.

MONTVALE, N.J., Jun 18, 2012 (BUSINESS WIRE) — The KPMG Foundation announced it has awarded a total of $470,000 in scholarships to minority accounting doctoral students for the 2012-2013 academic year.

The recipients include 12 new recipients and 35 students whose scholarships have been renewed. Each scholarship is valued at $10,000, and is renewable annually for up to five years.

“The KPMG Foundation is proud of the very positive influence it has had in helping to increase the number of diverse faculty members at our nation’s colleges and universities,” said Jose Rodriguez, KPMG Foundation chairperson. “The Minority Accounting Doctoral Scholarship will play a critical role in transforming these 47 talented students into educators who will shape tomorrow’s business leaders.”

Since 1994, the KPMG Foundation has awarded over $10.5 million to 309 African-American, Hispanic-American, and Native American scholars pursuing doctorate degrees, as part of its ongoing commitment to increase the representation of minority students and professors in business schools. Today, 194 of those scholarship recipients have successfully completed their doctoral programs and are professors at universities throughout the country.

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