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Depositors often blame audit firms for bank failure, study finds
LAWRENCE — The word “audit” has a different meaning depending on whether you’re an individual or a bank. But a perceived audit failure can have equally damaging consequences. “We found that depositors — people who have money at banks — lose faith in an auditor when that auditor is associated with another bank that fails,” said Matthew Beck, assistant professor of business at the University of Kansas. His new article in The Accounting Review argues that depositors perceive bank failure as an audit failure, which reduces their assessment of auditor credibility.

KU launches online Master of Social Work through Jayhawk Global education innovation center
LAWRENCE — As social services across the country adapt to address changing health policies, an aging workforce and shifting social justice theories, the need for well-qualified social work professionals has never been higher. To help meet growing demand nationwide, the University of Kansas is now delivering its highly ranked Master of Social Work (MSW) program in a convenient, online format.

KU Libraries to host an open access event, discuss journal deals
LAWRENCE — KU Libraries will host a virtual talk on open access at the University of Kansas at noon Oct. 26 in celebration of International Open Access Week. During the event, Josh Bolick, head of the David Shulenburger Office of Scholarly Communication & Copyright, will provide an update on KU Libraries’ open access efforts, and he will discuss the national context of open access and recent open access deals with the Public Library of Science (PLOS) and other publishers.

Full stories below.

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Contact: Jon Niccum, KU News Service, 785-864-7633, [email protected]
Depositors often blame audit firms for bank failure, study finds
LAWRENCE — The word “audit” has a different meaning depending on whether you’re an individual or a bank. But a perceived audit failure can have equally damaging consequences.
“We found that depositors — people who have money at banks — lose faith in an auditor when that auditor is associated with another bank that fails,” said Matthew Beck, assistant professor of business at the University of Kansas.
His new article, “The Role of Audit Firms in Spreading Depositor Contagion,” argues that depositors perceive bank failure as an audit failure, which reduces their assessment of auditor credibility. This leads to lower deposit growth at banks with the same auditor. It’s published in The Accounting Review.
“Most deposits, like what you and I have in our bank account, are covered by insurance from the FDIC. That insurance right now covers up to $250,000. Our deposits are safe if the bank fails. However, there are depositors who may have larger amounts not covered by insurance and may lose their money if the bank fails. So they have a very strong interest in making sure their money is going to be safe,” Beck said.
Depositors assess bank performance by examining their financial reports. And the way depositors become confident such reporting is accurate is to have an auditor come in and audit those financial statements.
“People often want liquid assets, and there might not be a better way than having money in a bank,” he said. “Uninsured depositors also may get a higher rate of return on their money than you and I do with our savings accounts, as the bank is paying them a little bit more than it pays us to compensate them for that risk.”
Beck, who co-wrote the article with Allison Nicoletti of the University of Pennsylvania and Sarah Stuber of Texas A&M University, said there’s an expectation gap between what a financial statement audit really is versus what the public assumes it is.
He said, “A lot of times people think, ‘Oh, this company got a clean or unqualified audit opinion and that means it’s a good company, with good management, a good CEO.’ But when you look at the actual opinion, all it says is, ‘We’re giving you reasonable assurance there are no material misstatements in the financial statements. That’s it.’”
The impetus for this project came from the authors wondering aloud if an auditor would get blamed when a bank fails. When an institution fails, customers might need “a scapegoat to point their fingers at,” he said.
His team took data sets from various banks, running multivariate regressions and using statistical analysis to find relationships between these two factors. This determined exposure to failure through the audit firm is associated with lower uninsured deposit growth, consistent with depositors perceiving this as a negative signal of auditor credibility. It also showed the results are stronger when awareness regarding the failure is greater, including when a larger bank is involved or when significant news coverage occurs.
Beck was surprised to learn while doing this research that not all banks get audited.
“You need to have over $500 million in assets at a bank in order for an audit to be required. Smaller banks – such as a single branch bank in a small town — may not be audited,” he said.
Before going into academia, Beck worked as an auditor for KPMG (one of the “Big Four” firms) in Richmond, Virginia, and Prague, Czech Republic. The Chicago native is now in his fourth year at KU.
“Having an unstable banking system is a bad thing for the economy,” Beck said. “Understanding that this sort of thing can happen is beneficial to know. It gives banks a chance to be proactive and tell depositors, ‘Hey, a client of our auditors failed … but it had nothing to do with the audit.’”
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Contact: Valerie Hawley, School of Social Welfare, 785-864-3804, [email protected], @KUSocialWelfare
KU launches online Master of Social Work through Jayhawk Global education innovation center

LAWRENCE — As social services across the country adapt to address changing health policies, an aging workforce and shifting social justice theories, the need for well-qualified social work professionals has never been higher. Overall employment of social workers nationwide is projected to grow 12% from 2020 to 2030, much faster than the average for all occupations, according to the U.S. Bureau of Labor Statistics. To help meet growing demand nationwide, the University of Kansas is now delivering its highly ranked Master of Social Work (MSW) program in a convenient, online format. Offered through KU’s School of Social Welfare, the MSW program has consistently ranked in the top 12% of public institution social work graduate programs by U.S. News & World Report, making it the top-ranked program in Kansas. As the longest-running program in the state, its history includes more than 75% of MSW graduates exceeding national licensure first-time pass rates and 85% gaining full-time employment immediately after graduation.

“Our online MSW courses will be taught by the same team of faculty and instructors as our on-campus programs,” said Michelle Mohr Carney, dean of KU’s School of Social Welfare. “Graduates who earn their MSW online are equipped with the knowledge to provide counseling and direct services to individuals, families and groups; make changes in organizations and communities; and help shape policies that affect large populations in our society.”
A master’s degree in social work prepares graduates for advanced social work practice in one of two broad specializations — either clinical social work practice with individuals, families and groups; or social work macro practice aimed at social service administration, social policy development and social advocacy. The MSW curriculum was designed with community and student input to ensure a dynamic, educational experience that incorporates real-world learning experiences and prepares graduates to practice with competency and integrity.
“The School of Social Welfare strives to be a leader in diversity, equity and inclusion within the university and in our community,” Carney said. “We want to ensure that all students, faculty and staff feel safe, heard and valued. In turn, they will promote these values in their careers.”
Through Jayhawk Global, the university’s new education innovation center, KU plans to offer many more online degree opportunities giving students the chance to earn a globally recognized degree from anywhere in the world.

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Contact: Alicia Marksberry, KU Libraries, [email protected], @kulibraries
KU Libraries to host an open access event, discuss journal deals

LAWRENCE — KU Libraries will host a virtual talk on open access at KU on Oct. 26 in celebration of International Open Access Week.
Open access refers to scholarly literature that is digital, online, free of charge, and free of most copyright and reuse restrictions. KU has a long record of commitment to open access and is the first public institution to establish an open access policy.
During the virtual event, Josh Bolick, head of the David Shulenburger Office of Scholarly Communication & Copyright, will provide an update on KU Libraries’ open access efforts, discuss the national context of open access and recent open access deals with the Public Library of Science (PLOS) and other publishers. Bolick will also talk about the new guidance from the White House Office of Science and Technology Policy (OSTP) that will require public access to all federally funded research publications and data.
Some of KU Libraries’ open access efforts have led to agreements with publishers that waive author-side fees for KU researchers. Those fees, called article processing charges, or APCs, can cost thousands of dollars depending on the journal.
“I’m always excited to share information about open access with researchers and with colleagues at KU,” Bolick said. “This is a place that has a long-standing history of advocacy for and embrace of open access.”
The event, which will take place from noon to 1 p.m. Oct. 26 via Zoom, is free and open to the public. It will include a Q&A and time for discussion. Register online. For more information, email Bolick at [email protected].

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KU News Service
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http://www.news.ku.edu

Erinn Barcomb-Peterson, director of news and media relations, [email protected]

Today’s News is a free service from the Office of Public Affairs

From the Office of Public Affairs | http://www.news.ku.edu

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KGS scientists collaborate on project to identify unmarked graves in local cemetery
LAWRENCE — A joint project of the Kansas Geological Survey, Douglas County Historical Society’s Oak Hill Cemetery Program Committee and Watkins Museum of History aims to uncover and memorialize the stories of hundreds of people interred in Oak Hill Cemetery’s potter’s field from the 1860s through the 1910s. “This project turned out to be a really wonderful opportunity for the KGS to engage with our local community and use the tools and methods that I have to address a problem that disproportionately impacts historically excluded groups,” said Blair Schneider, KGS science outreach manager and associate researcher.

KU receives first TRIO Training Program grant
LAWRENCE – After receiving a perfect score on the grant application, the University of Kansas Center for Educational Opportunity Programs has been awarded a TRIO Training Program for Priority 2, the first of its kind in KU history. The two-year grant will provide professional development on budget management and the statutory and regulatory requirements for the operation of projects funded under the Federal TRIO Programs for 480 TRIO professionals.

12 KU undergraduate students selected for 2022 Millennium Fellowship
LAWRENCE — Out of nearly 32,000 applicants, 12 University of Kansas students have been selected for the 2022 Millennium Fellowship, a leadership development program overseen by the Millennium Campus Network in partnership with United Nations Academic Impact. The students include Kansans from Augusta, Lawrence, Leawood and Overland Park. As part of the fellowship, the students will partner with Friends of the Kaw on two river cleanup efforts this fall.

Full stories below.

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Contact: Julie Tollefson, Kansas Geological Survey, 785-864-2114, [email protected], @ksgeology
KGS scientists collaborate on project to identify unmarked graves in local cemetery
LAWRENCE — A joint project of the Kansas Geological Survey, Douglas County Historical Society’s Oak Hill Cemetery Program Committee and Watkins Museum of History aims to uncover and memorialize the stories of hundreds of people interred in Oak Hill Cemetery’s potter’s field from the 1860s through the 1910s.
The project is funded by a $13,000 grant from the Douglas County Heritage Conservation Council and a $10,000 grant from Humanities Kansas.
A potter’s field was a section of a cemetery set aside for the burial of the poor, the unknown and the marginalized, often without monuments to mark the graves.
During the summer of 2021, a team led by Blair Schneider, KGS science outreach manager and associate researcher, surveyed about an acre, or 4,800 square yards, of the Oak Hill Cemetery’s potter’s field over a period of several weeks. The team, which included 18 community volunteers, used four geophysical research methods, including ground-penetrating radar and techniques that detect differences in electrical and magnetic signatures, to identify objects and materials buried beneath Earth’s surface.
Schneider and her colleagues are now analyzing and interpreting that data to identify individual burial sites.
“This project turned out to be a really wonderful opportunity for the KGS to engage with our local community and use the tools and methods that I have to address a problem that disproportionately impacts historically excluded groups,” Schneider said. “Being able to use my research skills to address issues related to social justice and diversity, equity, inclusion and belonging is very important to me. I value being able to center the voices of those who have historically not been heard, or even actively ignored.”
Caleb Latas, project director and independent consultant for the Douglas County Historical Society, plans to merge the geophysical survey results with existing but sometimes incomplete cemetery records kept by the city of Lawrence as well as with state and federal census data to develop the most complete picture of the lives of individuals buried in the cemetery’s potter’s field.
“Our hope is to give meaning and a name to the geophysics results and to create a database for descendants to be able to find and connect with their ancestors and relatives,” said Latas, a master’s student at the University of York who received a bachelor’s degree in anthropology from the University of Kansas.
The project will create interpretive signs that list the names of those buried in potter’s field and, when the information is available, their dates of birth and death, place of birth and residence.
“These signs will also have QR codes that can be scanned, and each sign will have an associated podcast telling their stories, the history of the potter’s field here and what a potter’s field is, along with how the folks here represent an untold history of Lawrence and how their lives are an untold history of many major historical moments and events in Lawrence and Kansas,” Latas said.
Larry Hoyle, a retired research scientist who volunteered with the geophysical site survey, continues to provide research assistance and help finding resources. “For the community, it’s important to remember that, while no markers exist for most of those in potter’s field, they were a part of the community then and our history now,” he said.
In addition to the KGS, the Douglas County Historical Society’s Oak Hill Committee and Watkins Museum staff will oversee the project, coordinate public information and serve as fiscal agent. Lawrence Parks & Recreation owns Oak Hill Cemetery and will work with Watkins Museum to develop interpretation of the site.
“This project will help us tell a more complete story of Lawrence’s past and broaden the diversity of the historical record,” said Steve Nowak, executive director of the Douglas County Historical Society. “The information gathered will complement what we know about Oak Hill Cemetery and the role it has played in the community.”
The grants will fund a series of community discussions about the project and local events called “history harvests” to collect stories from people whose ancestors are buried in potter’s field.
“It’s really important to us that the community is an equal partner in this, that they are directly guiding and shaping this project for what is important to them,” Latas said.
In addition to Schneider, Latas, Nowak, and Hoyle, Donna Rae Pearson, owner of Kitchen Table History and a local historian from Topeka, and Kerry Altenbernd, local historian and member of the Douglas County Historical Society Oak Hill Committee, will aid in research and understanding of the history and context of Oak Hill Cemetery. More information is available on the project’s website.

For more information, contact Schneider by email.

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Contact: Laura Kingston, Center for Educational Opportunity Programs, 785-864-3415, [email protected], @CEOPmedia
KU receives first TRIO Training Program grant

LAWRENCE – After receiving a perfect score on the grant application, the University of Kansas Center for Educational Opportunity Programs (CEOP) has been awarded a TRIO Training Program for Priority 2 (KU TTP2), the first of its kind in KU history.
The two-year grant will provide professional development on budget management and the statutory and regulatory requirements for the operation of projects funded under the Federal TRIO Programs for 480 TRIO professionals.
KU TTP2 will leverage a two-prong approach to create a dual capacity-building framework to empower TRIO professionals and institution/agency teams from across the country to fully understand and successfully operate their TRIO grants.
The U.S. Department of Education has established eight different types of TRIO programs that assist students and learners of all age to overcome economic, social, academic and cultural barriers to higher education. Within KU’s Achievement & Assessment Institute, Ngondi Kamaṱuka is the director of CEOP, which houses each type of TRIO Program: TRIO Educational Opportunity Centers, TRIO McNair Scholars Program, TRIO Supportive Educational Services & STEM, TRIO Talent Search, TRIO Upward Bound, TRIO Upward Bound Math-Science and TRIO Veterans Upward Bound.
“For 50 years, KU’s multiple TRIO programs have helped thousands of students explore college opportunities and receive comprehensive support on their path to earning a degree,” Kamaṱuka said. “Now, with a TRIO training grant, the CEOP legacy expands to create a space for TRIO professionals to become learners and improve their own programs.”
Across the two years of the KU TTP2 grant, CEOP will facilitate four in-person trainings where TRIO professionals can expand their professional support networks, as well as six virtual trainings that will allow TRIO programs to bring their systems teams into the professional development.
This highly competitive grant for $595,202 expands KU’s legacy of being a leader on the national TRIO stage. It is rare to find a university that houses all types of TRIO programs, and the awarding of this grant will allow KU to be among the few.
“We are honored to be one of the two universities selected to receive a TRIO Training grant for Priority 2. It speaks volumes to the decades of experience KU has facilitating TRIO programs,” Kamaṱuka said. “No matter what TRIO program you are, or what state you are in, KU TTP2 looks forward to helping strengthen your program and, in turn, improve educational equity at the national level.”

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Contact: Justin Runge, University Honors Program, [email protected], @KUHonors
12 KU undergraduate students selected for 2022 Millennium Fellowship
LAWRENCE — Out of nearly 32,000 applicants from more than 2,400 institutions worldwide, 12 University of Kansas students have been selected for the 2022 Millennium Fellowship, a leadership development program overseen by the Millennium Campus Network in partnership with United Nations Academic Impact (UNAI).
UNAI’s 10 principles, along with the United Nations’ Sustainable Development Goals, or SGDs, inform the student-led community projects that the fellowship’s global network and resources support. Among the program’s more than 3,700 students, who together represent 207 campuses in 36 countries, are a dozen KU fellows:

1. Eleazar Abraham, a junior majoring in chemistry, human biology, and global & international studies from Hayward, California
2. Fatima Asif, a senior majoring in biochemistry and English from Overland Park
3. Samuel Butler, a senior majoring in behavioral neuroscience and political science from Overland Park
4. Eddie Church, a sophomore majoring in environmental studies from Lawrence
5. Ammar Farra, a senior majoring in chemistry and history from Brentwood, Tennessee
6. Brunojoel Hatungimana, a senior majoring in biochemistry from Manzini, Eswatini
7. Soham Kawade, a sophomore majoring in biology from Pune, India
8. Gabriela Ruiz, a senior majoring in economics and English from Overland Park
9. Ian Reddy, a senior majoring in biology and exercise science from Augusta
10. Aarush Sehgal, a sophomore majoring in molecular, cellular, & developmental biology from Chandigarh, India
11. Nasrin Shahlari, a senior majoring in chemical engineering from Leawood
12. Fabiana Salas Valdivia, a junior majoring in global & international studies and political science from Arequipa, Peru.
“We are tremendously proud of our students for being selected to this year’s class of Millennium Fellows,” Chancellor Douglas A. Girod said. “The University of Kansas’ mission is to lift students and society by educating leaders, building healthy communities and making discoveries that change the world. KU’s Millennium Fellows embody KU’s mission and values, and I am confident that their experience with the Millennium Fellowship will further enhance their ability to change the world for the better.”
KU is one of only 28 campuses in the U.S. to host a Millennium Fellowship campus hub. Abraham and Butler, who coordinated the program application, serve as the hub’s campus directors. Both were also the driving forces behind KU earning UNAI membership, which is required for Millennium Fellowship consideration.
Abraham and Butler are now tasked with helping hub members build leadership skills through the MCN Action Toolkit curriculum in preparation for a local project that makes progress on one of the UN’s 17 SGDs, which address global challenges like poverty, health and sustainability.
For their project, KU’s fellows will partner with Friends of the Kaw, an organization dedicated to protecting the Kansas River through education, advocacy and hands-on involvement. The students’ connection with the group stems from a river walk last spring led by Amy Burgin, professor and senior scientist with KU’s Department of Ecology & Evolutionary Biology, and Dawn Buehler, riverkeeper for Friends of the Kaw. The tour was part of the University Honors Program’s Common Cause program, in which students seek solutions to an urgent issue through a symposium and service opportunities.
This fall, KU’s Millennium Fellows plan to participate in two river cleanup efforts as a part of their project. Potential project activities also include research assistance using ArcGIS, a geographic information system, and development of materials to raise awareness of the ecological, environmental and economic issues related to the Kansas River.
The fellowship concludes in November with the presentation of a certificate for fellows who complete their project. KU’s fellows will then incorporate their experience into a session for the 2023 Common Cause symposium in January, which will focus on the intersection of climate and health.
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KU News Service
1450 Jayhawk Blvd.
Lawrence KS 66045
Phone: 785-864-3256
Fax: 785-864-3339
[email protected]
http://www.news.ku.edu

Erinn Barcomb-Peterson, director of news and media relations, [email protected]

Today’s News is a free service from the Office of Public Affairs