PCAOB Announces Scholarship Program and Academic Recipients

The Public Company Accounting Oversight Board today announced the inauguration of the PCAOB Scholarship Program and the academic undergraduate and graduate institutions who have nominated a student to receive an award this year.

For the 2011-2012 academic year, the PCAOB plans to award 52 merit-based scholarships of $10,000 each.

"We are grateful to Congress for allowing us to bring the PCAOB and the academic community closer together with this scholarship program that will provide a source of funding to encourage outstanding students to pursue a career in auditing. We hope to inspire future thought leaders in auditing for the benefit of investors," said PCAOB Chairman James R. Doty.

The Sarbanes-Oxley Act of 2002 provides that funds generated from the collection of monetary penalties imposed by the PCAOB must be used to fund a merit scholarship program for students in accredited accounting degree programs. The PCAOB Scholarship Program therefore has been created to identify eligible students for scholarships and award funds through the students' educational institutions.

The PCAOB has selected ACT, Inc. (ACT) of Iowa City, Iowa, to administer and manage the program on behalf of the PCAOB.

Students may be eligible for scholarships if they are enrolled in an accredited accounting degree program and attend a participating, nominating institution. Students eligible to receive a PCAOB scholarship must:

• Be enrolled in a bachelor's or master's degree program in accounting
• Demonstrate interest and aptitude in accounting and auditing
• Demonstrate high ethical standards
• Not be a PCAOB employee or a child or spouse of a PCAOB employee

The PCAOB scholarship program is merit-based but educational institutions are encouraged to give consideration to students from populations that have been historically underrepresented in the accounting profession.

A description of the PCAOB scholarship program, along with information on the nomination process, information on the selection of nominating institutions and other program details, can be found on the PCAOB website.

2011-2012 Academic Year Scholarship Recipient Academic Institutions

1. Brigham Young University
2. Central Washington University
3. CUNY Bernard M Baruch College
4. DePaul University
5. Eastern Michigan University
6. Eastern University
7. Fairfield University
8. Florida State University
9. George Washington University
10. Georgia Southern University
11. Golden Gate University
12. Hope College
13. Indiana University-Purdue University-Indianapolis
14. Indiana Wesleyan University
15. Kean University
16. Lewis University
17. Louisiana State University and A & M College
18. Michigan State University
19. Middle Tennessee State University
20. Missouri State University
21. North Carolina State University
22. Northern Illinois University
23. Nova Southeastern University
24. Rhode Island College
25. Tulane University
26. University of Alabama
27. University of Colorado-Denver
28. University of Connecticut
29. University of Florida
30. University of Georgia
31. University of Hartford
32. University of Illinois at Chicago
33. University of Illinois-Urbana-Champaign
34. University of Louisiana at Lafayette
35. University of Maryland-University College
36. University of Michigan-Ann Arbor
37. University of Minnesota-Twin Cities
38. University of Missouri-Columbia
39. University of North Carolina-Charlotte
40. University of North Carolina-Greensboro
41. University of North Texas
42. University of Notre Dame
43. University of Oregon
44. University of Pittsburgh
45. University of Southern California
46. University of Southern Mississippi
47. University of Texas at Austin
48. University of Texas at Dallas
49. University of Virginia
50. University of Wisconsin-Eau Claire
51. Walsh College of Accountancy & Business
52. Weber State University