School of Business

Aggressive Tax Spending Leads to Fewer Restatements

Susan Scholz

Companies that engage their audit firm for significant tax consulting services are less prone to revising their financial statements, according to KU School of Business professor Susan Scholz in an American Accounting Association study she conducted, along with William Kinney, University of Texas, and Zoe-Vonnna Palmrose, University of Southern California.

"Companies that spend a large amount on tax services from their audit firm typically had fewer restatements than those who spent small amounts or zero," the study said, as reported in Accounting Web USA. Read more.

KU taught Nobel Prize Winner what it meant to be a scholar

School of Business Dean Bill Fuerst with Dr. Vernon Smith.

"The University of Kansas is where I really learned what it meant to be a scholar," Dr. Vernon Smith, Nobel Prize Winner in Economics, said at the School of Business luncheon in his honor, May 16. "I worked my butt off at Cal Tech," Dr. Smith said with a laugh. "Then, learning what I did at KU, by the time I got to Harvard, it was easy; it was all downhill."
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