Criticisms of IRBs are proliferating. In response, we compare the ethical and epistemic standards of two closely related forms of inquiry, investigative journalism and equity-oriented collaborative community-based research (EOCCBR). We argue that a university affiliation justifies formal ethical review of research and suggest how institutionalized research ethics might better serve EOCCBR. Our comparative analysis also sheds light on the public role of universities by underscoring what is morally relevant about being a university-affiliated researcher.