Updated: Tuesday, August 4th, 2009

A total of $390,000 in scholarships has been awarded to 39 minority students enrolled in doctoral programs for the coming academic year by the KPMG Foundation.

The announcement marks the 15th anniversary of the foundation's Minority Accounting Doctoral Scholarship program which aims to increase the number of minority students and professors in business schools.

"We're proud of the achievements of our program over the last 15 years, and we have seen a healthy increase in the number of minority faculty members at our nation's business schools, although more work needs to be done," says Bernard J. Milano, the foundation's president.

"That's why we continue to award new scholarships each year and we remain committed to our mission," he adds.

The KPMG Foundation operates on donations from KPMG LLP, an audit, tax and advisory firm, and since its inception in 1994 the scholarship program has awarded $8.7 million to African-Americans, Hispanic-Americans and Native Americans enrolled in PhD programs in accounting.

The foundation says its work has helped to more than triple the number of minority business professors in the U.S.

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