Loyola University New Orleans Home
Office of the Provost
Skip to main content

Curiosity in the Classroom

Sarah Thorrick led her Audit and Assurance course of seniors through the financial auditing process, where they uncovered a New Orleans charter school was in financial crisis.

Sarah Thorrick, Visiting Assistant Professor of Accounting, wants her students to operate from a place of curiosity. Because that’s what accountants and auditors are - they’re curious. They ask questions, remain skeptical, and look for the big and small things to help piece financial stories together.

In the Fall 2018 semester, the curiosity she teaches her students came to life in a way no one, even her students expected. She teaches the Audit and Assurance course in the College of Business, a course where students learn about the basics of financial auditing and other accounting tasks, while working with real world clients. In the past, her classes have worked with local entrepreneurs and small businesses, helping them audit their finances and discover opportunities for growth.

This time around, Thorrick chose something close to home - New Orleans charter schools. Her oldest child recently started at a local charter school and she was curious about their finances and any financial irregularities.

Because charter schools are paid for with our taxes, we as constituents can call up and ask questions about anything, including the finances. We don’t need to have a reason.

Professional skepticism is the hallmark of being an accountant.

– Sarah Thorrick

The students were able to choose their charter school, some picking schools they attended when they were younger, or schools that they heard about in the news. Overall, they had a wide range of schools to audit, primarily elementary schools in New Orleans. The course became a group effort, each student helping another request documents, look over reports, and do calculations.

Image credit: Audubon Charter School, Facebook

Some of the schools did exactly what they were supposed to do. They answered the requests and questions promptly. Other schools just didn’t respond. Other schools put obstacles in the students’ way. One group spent the entire semester just trying to get the financial records, but found success after sneaking into a board meeting and submitting the request there.

Image credit: Lusher Charter School, Facebook

After going through the records through a basic analysis and figuring out where the risks are, one of the schools the students had been looking at was in a serious crisis. They already knew the school was in trouble from the news, but this was a new level.

Image credit: Edgar P. Harney Elementary School, Google Street View

Students at an elementary school
A Group Effort

The students were able to choose their charter school, some picking schools they attended when they were younger, or schools that they heard about in the news. Overall, they had a wide range of schools to audit, primarily elementary schools in New Orleans. The course became a group effort, each student helping another request documents, look over reports, and do calculations.

Image credit: Audubon Charter School, Facebook

Lusher school archway
Unconventional Research

Some of the schools did exactly what they were supposed to do. They answered the requests and questions promptly. Other schools just didn’t respond. Other schools put obstacles in the students’ way. One group spent the entire semester just trying to get the financial records, but found success after sneaking into a board meeting and submitting the request there.

Image credit: Lusher Charter School, Facebook

Edgar P. Harney school
Uncovering Trouble

After going through the records through a basic analysis and figuring out where the risks are, one of the schools the students had been looking at was in a serious crisis. They already knew the school was in trouble from the news, but this was a new level.

Image credit: Edgar P. Harney Elementary School, Google Street View

The best part about the whole lesson was the students feeling empowered to ask hard questions and gain practical skills, and asking those hard questions with grace and dignity.

– Sarah Thorrick

Thorrick called on charter school and education beat reporter for The Lens Marta Jewson to come and talk to her students about her work and gain valuable advice about corresponding with schools. From there, Thorrick left it up to the students share their findings with Jewson.

The students’ findings and an auditing firm’s findings, along with Jewson’s reporting started the snowball effect that resulted in the eventual restructure of Edgar Harney Elementary School as a charter school.

More to the Story

Adults sitting at Edgar Harney school

See Marta Jewson's full investigation into the financial problems of Edgar Harney Elementary School

Learn more

Image credit: Charles Maldonado / The Lens

Did you know?

The College of Business has $1 million in real funds for our students to manage as an official Student Managed Investment Fund? For the past two years, our students have consistently beat the S&P-500, even when it was falling 20%!

Learn more

More Stories

Filling the Mental Health Gap

John Dewell sitting in a chair

Opportunity for All

Laurie Phillips

The Pursuit of Basic Fairness

Andrea Armstrong