COBA Awarded $750K Grant by KPMG
ASU Master of Accountancy Program Awarded $750K Grant; it's one of Only 16 Schools Selected Nationwide to KPMG's Prestigious Program
By: Kenneth Mullinax/ASU
Alabama State University’s Master of Accountancy program has been awarded a $750,000 grant by Klynveld Peat Marwick Goerdeler (KPMG), one of the nation’s “Big-Four” accounting firms. ASU’s Master of Accountancy program was one of only 16 programs in the nation to receive the prestigious honor. The three-year grant will support student scholarships.
The KPMG program is titled the “Master of Accounting with Data and Analytics (MADA).” Dr. Kamal Hingorani, dean of ASU's Percy J. Vaughn, Jr. College of Business Administration (COBA), explained that COBA is now part of an award-winning, collaborative, first-of-its-kind program, which prepares students to be competitive in today’s data-driven age by providing specialized skills for practical use of the latest analytics technology.
"The MADA program will begin at ASU in the Fall 2022 semester and will be overseen by the College of Business Administration and its department of Accounting and Finance," Hingorani said. "We are very humbled and proud to be included among such an elite group of only 16 schools awarded grants in the program by one of the nation's most acclaimed accounting firms. Our program is listed among such institutions as the University of Georgia and Ohio State University."
COBA's dean stated that KPMG is adding new universities to its MADA program, including Historically Black Colleges and Universities (HBCUs), with the expectation of creating increased diversity and inclusiveness in the field of accounting and to encourage underrepresented individuals to pursue a graduate education in accounting.
"This collaboration with one of the Big-Four accounting firms will enable ASU to upgrade its curriculum, train its faculty, and have access to the latest data analytics tools and technologies on a state-of-the-art hosted cloud platform provided by KPMG," said Hingorani. "The aim of the program is to develop students that can ingest and analyze data as most businesses are now seeking professionals that are comfortable with both data analytics and automation technologies."
STRATEGY BEHIND THE GRANT
This expansion aligns with the firm’s “Accelerate 2025” commitments and is one of several ways KPMG is creating pathways for underrepresented future leaders to build their careers in the profession and with KPMG as an employer of choice.
“Expanding the master’s program will help close the gap between academic preparation and accounting career readiness,” said Scott Flynn, KPMG vice chair of Audit. “Importantly, our HBCU-focused investments will support underrepresented individuals and diversify our profession, better enabling us to deliver quality and innovation long-term.”
The firm explains that it has deepened its relationships with HBCU's. Hires from HBCU's have increased more than 40 percent over the previous year and at the end of the 2020-2021 school year, there was a 13 percent increase in KPMG’s three-year retention rates of professionals from HBCU's and a 19 percent increase in the five-year retention rate of its HBCU alumni.
KPMG, LLP is the U.S. firm of the KPMG global organization of independent professional services firms providing audit, tax and advisory services. The KPMG global organization operates in 146 countries and territories and has close to 227,000 people working in its member firms around the world. Learn about the accounting firm by visiting: https://home.kpmg/
POSITIVE IMPACT FOR ASU STUDENTS & FACULTY
This new grant will lift ASU's Master of Accountancy students that are admitted to the program (about eight per year initially) into a new stratum of scholarship and business acumen.
"Our students selected for this program will be called 'KPMG Scholars’ and they will be paid full tuition and fees, as well as a monetary stipend. In addition, ASU's Master of Accountancy program will have at least three new courses that will focus on data analytics and automation," said COBA's dean.
Faculty members will also benefit from KPMG's largess by having access to resources from KPMG repositories and being able to use its data analytics and automation tools. Faculty will also have opportunities to attend training and workshops organized by the firm and will be able to collaborate with some of the best accounting minds in the country.
"We are excited at yet another opportunity for success that we may offer Alabama State University's students at the College of Business Administration, which encompasses our number-one goal of lifting our students up for meaningful and successful careers upon graduation," Hingorani added.
News media contact: Kenneth Mullinax, 334-229-4104.