Four NIU students from the accounting department will be competing Friday through Sunday in the first national round of the Arthur Andersen Tax Challenge.

Linda Johnson, faculty adviser to the team of students and an assistant professor in accounting, said students participating include senior accounting majors Lori Gallagher, Chiori Gannon, Sue Hansen and Julie Shaffer.

“I am excited that NIU students have an opportunity to show the nation that we have a great accountancy program,” Johnson said. “This is a great way to stimulate students’ interest in accounting.”

Teams were selected from 49 teams that originally participated in the regional competition on Oct. 31, she said. NIU’s team was selected as one of the top 10 undergraduate teams to compete in the national competition, she added.

Students will participate in an “intense” seven-hour day where they will try to develop the best tax solutions based on their knowledge of the tax code and the intricacies of tax research and planning, she said.

Winners of the competition will receive cash awards which will be donated to a state scholarship fund. Funding for these awards stems from Arthur Andersen and Company.

“This tax challenge focuses on federal tax issues and the complex financial dealings of a hypothetical family,” she said.

“This is a good opportunity to see what a real-life tax scenario would be like and a great opportunity to experience Arthur Andersen’s training facility.”

Other teams competing in the national tax challenge include students from Brigham Young University, Georgia State University, John Carroll University, Kent State University, New York University, Oklahoma State University, the University of Akron, the University of Illinois and the University of Louisville.

The competition will be held in St. Charles at Arthur Andersen’s Center for Professional Education training facility.