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KPMG PEAT MARWICK EXECUTIVE HONORED WITH WILDMAN MEDAL; ANNOUNCES GRANTS FOR AFRICAN-AMERICAN ACCOUNTING SCHOLARS

 KPMG PEAT MARWICK EXECUTIVE HONORED WITH WILDMAN MEDAL;
 ANNOUNCES GRANTS FOR AFRICAN-AMERICAN ACCOUNTING SCHOLARS
 NEW YORK, Aug. 11 /PRNewswire/ -- Robert K. Elliott, partner in the executive office of KPMG Peat Marwick, today was awarded the American Accounting Association's Wildman Medal in recognition of his contributions to accounting research, education and practice.
 At an awards ceremony in Washington today, Elliott announced that he would apply the cash stipend from the Wildman Medal toward the establishment of a scholarship fund to assist African-American Ph.D. candidates in accounting.
 Elliott said he will supplement the cash award from the Wildman Medal with a personal donation to bring the amount to $10,000, which will be matched by a $10,000 contribution from KPMG Peat Marwick Foundation. The American Institute of Certified Public Accountants (AICPA) Foundation will donate an additional $20,000 to the fund, making a total of $40,000 available for grants to African-American Ph.D. candidates. Selection of candidates and distribution of grants will be administered by the AICPA Foundation.
 "Education is the key to competitiveness on today's global marketplace," said Elliott, a widely published authority on accounting practice, education and the future of the accounting profession.
 "It is my hope that the students who are aided by this new scholarship fund will serve as a catalyst to draw an increasing number of African-Americans into the accounting profession," Elliott said.
 The purpose of the fund is to encourage African-American doctoral students in accounting to complete their Ph.D. degrees and enter university teaching. Grants will be available exclusively to African- American students who have been accepted into a Ph.D. program in accounting.
 A certified public accountant, Elliott received an undergraduate degree from Harvard in 1963 and an M.B.A. in Public Accounting from Rutgers University in 1964. Elliott serves on the board of directors of the American Institute of Certified Public Accountants and on the Accounting Education Change Commission of the American Accounting Association.
 The Wildman Medal was established in 1978 by the American Accounting Association and the Deloitte Haskins & Sells Foundation to honor individuals whose written work advances the public practice of accountancy. In the past, the medal has been granted primarily for academic research and writing; Elliott is only the fourth accounting practitioner to be honored in the 14-year history of the award.
 -0- 8/11/92
 /CONTACT: Barbara Kraft of KPMG Peat Marwick, 212-909-5266/ CO: KPMG Peat Marwick ST: New York IN: FIN SU:


PS-SM -- NY084 -- 9104 08/11/92 16:17 EDT
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Date:Aug 11, 1992
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