Ilitch Business accounting/ISM double major awarded PCAOB scholarship
The Public Company Accounting Oversight Board (PCAOB) has announced its 2020-21 merit-based scholarships, awarded to students who show a serious interest in pursuing a career in auditing. Mike Ilitch School of Business student Shavonte Ross is among this year’s recipients of the $10,000 award.
Ross is scheduled to earn a double major in accounting and information systems management in May 2021. She has been an active and accomplished student at Wayne State. Ross holds the position of director of operations for the National Association of Black Accountants and was a recipient of the Marie Farrell-Donaldson scholarship.
“This scholarship is an honor to me because it showcases that hard work and determination really do pay off. It means even more that I was nominated by someone that I respect tremendously, who witnessed my drive and perseverance,” Ross said.
In its tenth year, the PCAOB's scholarship program aims to provide financial support to one student from each participating academic institution. Funds are made possible through the Sarbanes-Oxley Act passed in 2002, which requires that monetary penalties imposed by the PCAOB in its disciplinary proceedings be used to fund a merit scholarship for students in accredited accounting degree programs.
Students who qualify for the award must be enrolled in an accounting bachelor's or master's degree program at a regionally accredited U.S. college or university; show appropriate interest and skill in accounting and auditing; and demonstrate high ethical standards. Participating institutions are encouraged to consider awarding students who are typically underrepresented in the accounting field today.
“I didn't believe that I would be selected to receive this generous scholarship, but it goes to show that you should never count yourself out,” Ross said.
The PCAOB is a nonprofit corporation established by Congress to oversee the audits of public companies in order to protect investors and the public interest by promoting informative, accurate and independent audit reports. The PCAOB also oversees the audits of brokers and dealers, including compliance reports filed pursuant to federal securities laws, to promote investor protection. The Sarbanes-Oxley Act of 2002, which created the PCAOB, required that auditors of U.S. public companies be subject to external and independent oversight for the first time in history.