You are no doubt aware of the growing crisis in the shortage of academically-qualified accounting faculty. Not only has the production of doctoral accounting faculty declined substantially over the last ten years, but a large percentage of accounting faculty are expected to retire over the five to seven years. Without adequate and qualified faculty, accounting program administrators and deans of business schools will be forced to limit enrollment in undergraduate and masters programs in accounting. A supply of well educated talent is more important than ever to the future of the profession.

The Tennessee Society of CPAs is partnering with more than 69 firms, and more than 35 additional state CPA societies, to help address this critical need by committing financial and other support to for the Accounting Doctoral Scholars (ADS) program that is administered by the AICPA Foundation.

Launched in 2008, the ADS program provides funding for up to 30 individuals each year, with a focus on those currently working in public accounting, to help them make a permanent transition to teaching and research in accounting at the university level. The funding supports application to doctoral programs in accounting and also provides an annual stipend of $30,000 up to four years of enrollment. Priority is given to those committed to teaching and research in audit and tax - the areas of greatest need.

Applicants to the program must be U.S. citizens and have three years of recent meaningful public accounting experience in auditing or tax. A full description of the program, complete eligibility requirements, application procedures and a current list of participating universities are available on line at www.adsphd.org. The ADS Program application, for enrollment in an accounting doctoral program for fall 2010, will be available online June 1, 2009. The application deadline is Oct. 1, 2009.

CPAs who may have an interest in transitioning to an academic career are encouraged to seriously consider this opportunity. The program is designed to attract to the classroom individuals who have demonstrated successful performance in the practice of public accounting. The future of the profession depends upon having the best and brightest faculty possible preparing the next generation of accounting graduates.