The programme will initially support doctoral students engaged in practical research. Credit: Areipa.lt/Shutterstock.

The American Institute of CPAs (AICPA) Foundation has introduced the Barry C. Melancon Professional Accounting Research (PAR) Fellowship to foster the development of the next generation of accounting and finance professionals. 

It is intended to provide the professionals with the necessary skills, knowledge, and training. 

The Fellowship has been created as a tribute to Barry C. Melancon’s 30 years of leadership at AICPA & CIMA (the Association).  

The programme will initially support doctoral students engaged in practical research to advance public or management accounting practices. 

During the fellowship year, Melancon PAR Fellows are expected to conduct the research outlined in the applications.  

They will also provide periodic updates to the Foundation Board of Trustees on their findings and the potential or actual impact their work may have on the profession.  

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Moreover, the fellows will have the chance to engage with individual Trustees and Association staff to discuss their ongoing research projects. 

AICPA president and CEO and the Association CEO Barry Melancon said: “I have been fortunate to spend my career as an advocate for our great profession. The passion that I have had for the profession and the spirit of everything that I did was for the betterment of the profession and the people within. 

“It is a personal joy to be able see the creation of a Fellowship in my name to encourage others to contribute to the profession’s benefit, advancement, and future.” 

The application process for the Fellowship is open year-round, with decisions announced annually between May 31 and 15 June.  

Two research fellowships will be awarded each year.  

To be considered for the academic year’s fellowship, applicants must submit their proposals by March 15, with awards being distributed at the start of the Fall semester/quarter.  

Each year, one research project will focus on public accountancy practice and another on management accounting.  

The grant amount will depend on the research project’s costs and the financial needs of the applicant. 

The inaugural Barry C. Melancon Professional Accounting Research Fellowship will be awarded in 2025.  

This announcement comes on the heels of a joint report by AICPA and the National Association of State Auditors, Comptrollers and Treasurers. 

It highlighted the need for strategies to enhance the value of Certified Public Accountants in the public sector.  

The report also noted that the shortage of accounting professionals, especially CPAs, is putting pressure on state and local governments.