The AICPA has created the Accounting Doctoral Scholars (ADS) program at a cost exceeding $16 million. The goal is to produce 30 extra doctoral students per year and allow them a living (if somewhat spartan) stipend of %30,000 per year while taking doctoral studies. The program will augment the KPMG Foundation's minority doctorial student program (through race is NOT a factor in the ADS program) and Ellen Glazerman of Ernst and Young hopes that it will provide additional auditing faculty and provide faculty with greater levels of practitioner experience.
It is hard to imagine accounting being anything but a high-demand field in the near future--even the worst recession in thirty years has only slowed, not stopped hiring of accounting graduates. However, with few if any high schools teaching accounting at anything significantly above the bookkeeping level, collges and universities MUST have faculty to prepare young men and women for accounting. I applaud the AICPA for this initiative.