Can an AI reconcile your books while you sleep? Blake and David run a live experiment with ChatGPT-5’s Agent Mode in Xero—watching it match transactions, stumble on prepayments, and reveal what’s realistically automatable today. They also break down a flood of app news: Dext's bill pay, Ramp’s mega raise, Thomson Reuters and Deloitte’s agentic AI, plus Ignition–Financial Cents and Canopy portal moves. They dig into survey findings showing that 58% of employees are secretly using AI at work despite company bans, and take a look at how AI is disrupting the job market for college graduates.
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Show Notes
Product Specialist-Accounting,AI - Xero
https://builtinlondon.uk/job/product-specialist-accounting-ai/6683466
Rillet raises $70M to replace 20th-century accounting software with AI-native ERP built by accountants
AI accounting startup Rillet raises $70 million in Andreessen Horowitz, ICONIQ-led round
Ramp Raises $500 Million at $22.5 Billion Valuation to Accelerate AI and Build the Future of Finance
Ramp hits $22.5B valuation just 45 days after reaching $16B
https://techcrunch.com/2025/07/30/ramp-hits-22-5b-valuation-just-45-days-after-reaching-16b/
IRS, White House clashed over immigrants' data before Billy Long was ousted
https://www.washingtonpost.com/business/2025/08/09/trump-administration-irs-data-dispute/
Trump replaces IRS Commissioner Billy Long with Scott Bessent
https://www.washingtonpost.com/business/2025/08/08/billy-long-irs-commissioner-bessent/
Trump ousts Billy Long as IRS commissioner, names Bessent acting head
https://www.cnn.com/2025/08/08/politics/billy-long-ousted-irs-commissioner
IRS Chief Forced Out After Immigrant Tax Data Pushback—Report
https://www.newsweek.com/irs-chief-forced-immigrant-tax-data-pushback-report-2111292
Billy Long's IRS ouster follows clashes with Treasury, sparks concern
https://thehill.com/homenews/administration/5449180-treasury-clashes-irs-commissioner/
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Blake and David discuss how both AICPA and NASBA have officially endorsed a 120-hour CPA licensure pathway in the ninth edition of the Uniform Accountancy Act, validating Blake's long-standing advocacy against the 150-hour requirement. They also examine Baker Tilly's policy, which requires CPAs to remove their designations from email signatures and LinkedIn profiles due to alternative practice structures. They move on to the launch of GPT-5, praising its improved integration but noting concerning chart errors in OpenAI's presentation and ongoing hallucination issues. Rounding things out, they also discuss Trump's firing of newly-appointed IRS Commissioner Billy Long after just weeks in office, comparing it to his dismissal of the Bureau of Labor Statistics head over unfavorable job revision data.
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Show Notes
NASBA, AICPA give blessing to 120-hour CPA pathway
https://www.cfo.com/news/governing-bodies-of-accounting-give-blessing-to-120-hour-cpa-requirement/754033/
AICPA and NASBA Approve Model Legislation for New CPA Licensure Path
NASBA and AICPA Publish Ninth Edition of the Uniform Accountancy Act (UAA)
Alaska Becomes the Latest State to Offer an Alternate CPA Pathway, With No Help From the Governor
CPA requirements by state
https://www.cfo.com/news/cpa-requirements-by-state-cfo-accounting-updates-changes-150-hour/740328/
Baker Tilly Secures Private Equity Investment in Largest CPA Transaction to Date
Trump ousts Billy Long as IRS commissioner, names Bessent acting head
https://www.cnn.com/2025/08/08/politics/billy-long-ousted-irs-commissioner
IRS Commissioner Billy Long replaced after less than two months
https://www.npr.org/2025/08/08/nx-s1-5496549/irs-billy-long-trump
Trump removes Billy Long as IRS commissioner, giving him the shortest-ever tenure in the role
OpenAI botches the charts in GPT-5 introduction
https://flowingdata.com/2025/08/07/openai-botches-the-charts-in-gpt-5-introduction/
GPT-5 Launch Demo Plagued With Catastrophically Dumb Errors
https://futurism.com/gpt-5-demo-dumb-errors
Sam Altman addresses 'bumpy' GPT-5 rollout, bringing 4o back, and the 'chart crime'
Introducing GPT-5
https://openai.com/index/introducing-gpt-5/
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What happens when the traditional path from college to accounting career gets disrupted by AI and automation? This week, Blake and David explore who's most likely to quit accounting firms (hint: it's the middle managers), why wages are rising while jobs disappear, and how one college is revolutionizing accounting education. You'll discover which employees are happiest and most miserable in accounting, learn why ChatGPT conversations could be used against you in court, and hear from Nicole Wetter about Green River College's innovative applied accounting program that puts students in real internships while teaching them AI tools alongside traditional skills.
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Show Notes
Who's most likely to leave your accounting firm?
https://www.accountingtoday.com/news/whos-most-likely-to-leave-your-accounting-firm
Sam Altman warns there's no legal confidentiality when using ChatGPT as a therapist
OpenAI to appeal New York Times copyright case over user data preservation
How we're responding to The New York Times' data demands in order to protect user privacy
https://openai.com/index/response-to-nyt-data-demands/
'I don't care about Direct File': IRS chief says agency plans to end free filing program
https://www.cnbc.com/2025/07/30/irs-chief-says-agency-plans-to-end-free-direct-file-program.html
IRS Chief Says Direct File Is 'Gone,' Other Audit Tech Is Coming
New commissioner confident IRS can implement OBBBA's tax provisions
Continuing Epstein Investigation, Wyden Probes IRS's Failure to Investigate Sex Trafficker's Highly Lucrative Tax Planning Work
Wyden probes IRS failure to investigate Jeffrey Epstein's tax planning
As Trump Sits on Key Epstein Files, Wyden Lays Out "Follow the Money" Investigation for DOJ
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What happens when politicians threaten to cut funding from accounting standard-setters unless they eliminate specific rules? Blake and David explore unprecedented political interference in FASB and PCAOB operations, plus the IRS facing a 23% budget cut despite Trump's push for more customer service staff. They unpack Sam Altman's warning about AI breaking voice authentication at major banks, why accounting degrees deliver 261% ROI (fourth-best among all majors), and how $28.7 billion in private equity money is reshaping CPA firms. Plus, the economic reality behind Stephen Colbert's show cancellation, Bitcoin's institutional takeover, and how tariff uncertainty is creating impossible planning conditions for businesses.
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Show Notes
CBS is ending 'The Late Show with Stephen Colbert' next year | CNN Business
https://www.cnn.com/2025/07/17/media/cbs-cancels-stephen-colbert
Stephen Colbert's 'Late Show' run will come to an end next year as CBS cancels franchise
https://www.nbcnews.com/pop-culture/tv/stephen-colbert-late-show-end-cbs-rcna219499
Inside CBS' 'agonizing decision' to cancel Colbert's top-rated late-night show | CNN Business https://www.cnn.com/2025/07/18/media/colbert-cbs-late-show-cancel-paramount-trump
SEC.gov | SEC Announces George Botic to Serve as Acting Chair of the Public Company Accounting Oversight Board
https://www.sec.gov/newsroom/press-releases/2025-100-sec-announces-george-botic-serve-acting-chair-public-company-accounting-oversight-board
George Botic Takes Over as Acting Chief of the PCAOB - CPA Practice Advisor
https://www.cpapracticeadvisor.com/2025/07/22/george-botic-takes-over-as-acting-chief-of-the-pcaob/165364/
SEC names George Botic as acting chair of PCAOB | Accounting Today
https://www.accountingtoday.com/news/sec-names-george-botic-as-acting-chair-of-pcaob
House Republicans propose to withhold funds from FASB unless income tax reporting standard is withdrawn | Accounting Today
https://www.accountingtoday.com/news/house-republicans-propose-to-withhold-funds-from-fasb
GOP Threatens Accounting Board Funding Over Tax Disclosure Rules
https://news.bloombergtax.com/financial-accounting/gop-threatens-accounting-board-funding-over-tax-disclosure-rules
Americans Want to Know Which Corporations Aren't Paying Taxes, but House Republicans Want to Keep this Information Secret
https://itep.org/corporate-tax-avoidance-house-republicans-spending-bill/
Trump wants to reverse the staffing cuts he's overseen for IRS customer service. House Republicans disagree. - Government Executive
https://www.govexec.com/workforce/2025/07/trump-wants-reverse-staffing-cuts-hes-overseen-irs-customer-service-house-republicans-disagree/407002/
Trump slashes 25% of IRS workforce with buyouts, firings of nearly 26,000 agency staff https://www.washingtontimes.com/news/2025/jul/22/trump-slashed-25-irs-workforce/
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What happens when a $2 trillion cryptocurrency market suddenly requires monthly audits? Blake and David break down the Genius Act, the new federal stablecoin legislation that just created a massive opportunity for auditors—but also potentially recreated the chaotic "wildcat banking" era of the 1800s. You'll learn why every stablecoin issuer now needs monthly attestation reports and annual audits, creating hundreds of new recurring revenue streams for accounting firms willing to take on the risk. Plus, they explore whether there are enough auditors to actually make this system work, and what happens if quantum computing breaks cryptocurrency security. The episode also covers PCAOB leadership changes under the new administration, live-tests AI agents trying to enter invoices (spoiler: it's messier than the hype suggests), and updates on the 23 states now offering alternative CPA pathways.
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Show Notes
Trump signs landmark GENIUS Act, hailing "exciting new frontier" for crypto - CBS News
https://www.cbsnews.com/news/trump-signs-genius-act-crypto-bill/
Fact Sheet: President Donald J. Trump Signs GENIUS Act into Law – The White House
https://www.whitehouse.gov/fact-sheets/2025/07/fact-sheet-president-donald-j-trump-signs-genius-act-into-law/
Stablecoin regulation bill heads to Trump's desk
https://www.axios.com/2025/07/17/house-passes-genius-act-stablecoins-trump
A 'Crypto Week' win: Congress passes 1st major crypto legislation in the U.S.
https://www.npr.org/2025/07/17/nx-s1-5451413/crypto-week-stablecoin-genius-act-trump
GENIUS Act Passes in US Congress: A Breakdown of the Landmark Stablecoin Law – Publications https://www.morganlewis.com/pubs/2025/07/genius-act-passes-in-us-congress-a-breakdown-of-the-landmark-stablecoin-law
Erica Williams Resigns as PCAOB Chair - CPA Practice Advisor
https://www.cpapracticeadvisor.com/2025/07/15/erica-williams-resigns-as-pcaob-chair/164956/
PCAOB chair Erica Williams steps down | Accounting Today
https://www.accountingtoday.com/news/pcaob-chair-erica-williams-steps-down
SEC.gov | Statement Regarding Tenure of Erica Williams at the PCAOB
https://www.sec.gov/newsroom/speeches-statements/atkins-statement-erica-williams-pcaob-071505
Southern District of New York | CaaStle Founder Charged In $300 Million Fraud Scheme | United States Department of Justice https://www.justice.gov/usao-sdny/pr/caastle-founder-charged-300-million-fraud-scheme
The surprising details of fashion entrepreneur Christine Hunsicker's fraud indictment- Fast Company https://www.fastcompany.com/91371881/the-surprising-details-of-fashion-entrepreneur-christine-hunsickers-fraud-indictment
Fashion startup founder Christine Hunsicker accused of cheating investors out of over $300 million - CBS News https://www.cbsnews.com/news/christine-hunsicker-charged-fraud-300-million-fashion-startup-founder/
States move beyond the 150-hour rule for CPA licensure | Accounting Today
https://www.accountingtoday.com/list/states-move-beyond-the-150-hour-rule-for-cpa-licensure
Tracking CPA licensure paths: Removing the 150-hour-rule hurdle | CFO Dive
https://www.cfodive.com/news/broadening-cpa-licensure-paths-marching-beyond-150-hour-rule-accounting-talent-shortage/745282/
The rise and fall of the 150-hour rule
https://www.cfobrew.com/stories/2025/04/10/the-rise-and-fall-of-the-150-hour-rule
AICPA, NASBA approve alternatives to the 150-hour rule
https://www.cfobrew.com/stories/2025/05/15/aicpa-nasba-approve-alternatives-to-the-150-hour-rule
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Why is AI failing at basic accounting tasks while claiming to outsmart PhD students? Blake and David dive into the stark reality of AI implementation in accounting, from Ramp's promising new expense management agents to QuickBooks' baffling suggestion to credit and debit the same account. You'll discover the critical security vulnerabilities in AI systems and learn why clients are increasingly using AI to fact-check their accountants' advice. Plus, get a comprehensive breakdown of the top 10 tax planning opportunities in the One Big, Beautiful Bill Act—from permanent 100% bonus depreciation to Trump accounts for children. The hosts also explore which companies will be AI's biggest losers and why the future of accounting lies in financial management, not advisory services.
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Show Notes
Ramp agents: Let finance teams do finance
https://ramp.com/blog/ramp-agents-announcement
Microsoft shares $500M in AI savings internally days after cutting 9,000 jobs
https://techcrunch.com/2025/07/09/microsoft-shares-500m-in-ai-savings-internally-days-after-cutting-9000-jobs/
Indeed, Glassdoor to lay off 1300 staff amid AI push
https://techcrunch.com/2025/07/11/indeed-glassdoor-to-lay-off-1300-staff/
Workday Stock Takes A Hit After Piper Sandler Survey Flags AI-Driven Headwinds, But Retail's Optimistic
https://stocktwits.com/news-articles/markets/equity/workday-stock-takes-a-hit-after-piper-sandler-survey-flags-ai-driven-headwinds/ch8GfqaR5kY
Elon Musk's xAI launches Grok 4 alongside a $300 monthly subscription
https://techcrunch.com/2025/07/09/elon-musks-xai-launches-grok-4-alongside-a-300-monthly-subscription/
Hidden AI prompts in academic papers spark concern about research integrity
https://www.japantimes.co.jp/news/2025/07/04/japan/ai-research-prompt-injection/
Tax provisions in the One Big Beautiful Bill Act
https://www.journalofaccountancy.com/news/2025/jun/tax-changes-in-senate-budget-reconciliation-bill/
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Transcripts
The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
What happens when AI decides who gets promoted and who gets fired? Blake and David dive into the shocking reality that 60% of managers now use AI for HR decisions, with over 20% letting algorithms make final calls without human oversight. They explore a Stanford study revealing that tax preparers are the #1 profession seeking automation, but only for basic calendar scheduling. Plus, discover why young Americans now rank health over wealth as their top measure of success, and how this generational shift is reshaping talent recruitment in accounting.
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Show Notes
Half of Managers Use AI To Determine Who Gets Promoted and Fired
https://www.resumebuilder.com/half-of-managers-use-ai-to-determine-who-gets-promoted-and-fired/
Future of Work with AI Agents
https://futureofwork.saltlab.stanford.edu/
Future of Work with AI Agents: Auditing Automation and Augmentation Potential across the U.S. Workforce
https://arxiv.org/abs/2506.06576
What workers really want from artificial intelligence
https://hai.stanford.edu/news/what-workers-really-want-from-artificial-intelligence
Big 4 Firm Discovers That Bragging About AI Efficiencies Leads Clients to Expect a Discount
https://www.goingconcern.com/big-4-firm-discovers-that-bragging-about-ai-efficiencies-leads-clients-to-expect-a-discount/
Monday Morning Accounting News Brief: PwC Clients Ask For an AI Discount; Big 4 Firms Losing Hundreds of Partners
https://www.goingconcern.com/monday-morning-accounting-news-brief-pwc-clients-ask-for-an-ai-discount-big-4-firms-losing-hundreds-of-partners-6-30-25/
Armanino planning data warehouse service, used AI for development
https://www.accountingtoday.com/news/armanino-planning-data-warehouse-service-used-ai-to-help-development
Bolt’s millennial founder has just ‘killed’ its unlimited PTO perk because it was actually causing burnout
https://fortune.com/2025/07/02/bolt-millennial-founder-ceo-ryan-breslow-killed-unlimited-pto-burnout-mandatory-four-weeks-paid-vacation-fintech-startup/
Agentic Misalignment: AI Agents in Corporate Environments
https://www.anthropic.com/research/agentic-misalignment
Relationships, health and financial stability are the defining priorities for Gen Z, according to new EY survey
https://www.ey.com/en_gl/newsroom/2025/05/relationships-health-and-financial-stability-are-the-defining-priorities-for-gen-z-according-to-new-ey-survey
2025 Technology Perceptions Survey
https://www.intapp.com/2025-tech-perceptions-survey/
Trust, attitudes and use of artificial intelligence
https://kpmg.com/us/en/articles/2025/trust-attitudes-and-use-of-artificial-intelligence.html
Tax Foundation Tax Prom 2025
https://taxprom.com
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What happens when AI agents promise to transform accounting but create more cognitive burden than productivity gains? Blake and David explore the reality behind the AI agent hype as QuickBooks, Digits, and Big Four firms launch their "digital teammates." They also dig into Xero's massive $2.5 billion acquisition of Melio and what it means for the payments landscape. You'll learn why managing AI agents might be like managing offshore contractors—you wake up to work that's 80% done but everyone has questions. Plus, they discuss how external investors are reshaping the profession, why traditional CPA protections might go the way of car dealership laws, and the ongoing problems with audit quality enforcement despite millions in PCAOB fines.
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Show Notes
Xero to acquire Melio, a leading US SMB bill pay solution, to accelerate global growth
https://www.prnewswire.com/news-releases/xero-to-acquire-melio-a-leading-us-smb-bill-pay-solution-to-accelerate-global-growth-302490268.html
New Zealand's Xero to buy US fintech Melio for up to $3 billion | Reuters
https://www.reuters.com/legal/transactional/australia-listed-xero-acquire-fintech-melio-over-25-billion-deal-2025-06-24/
Intuit Introduces Ground-Breaking Virtual Team of AI Agents to Fuel Growth for Businesses
https://investors.intuit.com/news-events/press-releases/detail/1258/intuit-introduces-ground-breaking-virtual-team-of-ai-agents-to-fuel-growth-for-businesses
Intuit debuts AI agents for QuickBooks | Accounting Today
https://www.accountingtoday.com/news/intuit-debuts-ai-agents-for-quickbooks
How AI is improving accounting efficiency – without replacing jobs | Stanford Report
https://news.stanford.edu/stories/2025/06/ai-accounting-bookkeeping-benefits-jobs
AI Is Reshaping Accounting Jobs by Doing the "Boring" Stuff | Stanford Graduate School of Business
https://www.gsb.stanford.edu/insights/ai-reshaping-accounting-jobs-doing-boring-stuff
PCAOB fines Deloitte, PwC, EY Netherlands member firms for exam misconduct | Accounting Today
https://www.accountingtoday.com/news/pcaob-fines-deloitte-pwc-ey-netherlands-member-firms-for-exam-misconduct
PCAOB Imposes Fines Totaling $8.5 Million on Netherlands Member Firms of Deloitte, PwC, and EY After Widespread Exam Misconduct
https://pcaobus.org/news-events/news-releases/news-release-detail/pcaob-imposes-fines-totaling--8.5-million-on-netherlands-member-firms-of-deloitte--pwc--and-ey-after-widespread-exam-misconduct
How an Accounting Change Hit Store Prices - UCLA Anderson Review
https://anderson-review.ucla.edu/how-an-accounting-change-hit-store-prices
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What happens when 19 states simultaneously abandon the 150-hour CPA requirement while tariffs create unprecedented uncertainty for CFOs? Blake and CFO.com reporter Adam Zaki explore the rapid transformation of CPA licensure—from New York's recent changes to the coordinated state-by-state rollout that followed Barry Melancon's AICPA retirement. You'll discover how political and economic volatility is driving demand for accounting services, why the PCAOB may disappear in the Senate's tax bill, and how AI is reshaping audit teams while raising questions about the future value of CPAs. Plus, insights on navigating everything from reciprocal tariffs to the SEC's new chief accountant.
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Show Notes
Supreme Court Challenge to Trump Tariffs by Toy Companies
https://www.reuters.com/legal/supreme-court-trump-tariffs-toy-companies-challenge
Consumer Price Index Impact of Current Tariffs
https://www.bls.gov/news.release/cpi.nr0.htm
New York State CPA Licensure Reform Legislation
https://www.nysscpa.org/news/publications/the-trusted-professional/article/new-york-cpa-licensure-reform-passes-legislature
Pennsylvania CPA Pathway Bill Senate Approval
https://www.picpa.org/articles/advocacy/cpa-pathway-legislation-senate-approval
Maine CPA Exam Requirements Change
https://www.maine.gov/pfr/professionallicensing/professions/accountants/cpa-exam-requirements
CFO.com State-by-State CPA Licensure Tracker
https://www.cfo.com/news/cpa-licensure-changes-state-tracker-2025
Kurt Hoel Appointed SEC Chief Accountant
https://www.sec.gov/news/press-release/2025-89
AICPA Barry Melancon Retirement Impact Analysis
https://www.journalofaccountancy.com/news/2025/01/melancon-retirement-cpa-pipeline-changes
Senate Modifications to Big Beautiful Bill
https://www.congress.gov/bill/119th-congress/house-bill/1/actions
Avalara 2025 Accountants Confidence Report
https://www.avalara.com/us/en/resources/reports/2025-accountants-confidence-report
PCAOB Elimination Implications Analysis
https://www.pcaobus.org/oversight/inspections/implications-elimination-analysis
KPMG Clara AI Audit Platform Interview
https://www.cfo.com/news/kpmg-thomas-mackenzie-clara-ai-audit-interview
PwC USA Tax Leader Agentic AI Implementation
https://www.cfo.com/news/pwc-tax-agentic-ai-implementation-2025
Bill.com Small Business Paperless Survey 2030
https://www.bill.com/resources/small-business-paperless-2030-survey
Universal Technical Institute CFO Interview
https://www.cfo.com/news/uti-cfo-future-higher-education-interview
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Learn more about Adam Zaki:
Website: https://www.cfo.com/editors/azaki/
LinkedIn: https://www.linkedin.com/in/adamzakinyc
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What happens when venture capitalists spend billions on AI but need customers to buy it? In this episode, Blake and David explore how investment firms are now purchasing accounting firms to force-feed AI adoption, comparing it to Pepsi buying restaurants to sell more soda. They also dig into the massive gap between AI promises and reality, questioning bold claims that 80% of tax prep is now automated while basic bookkeeping tools still make obvious errors. You'll learn about the AICPA's surprising neutrality on eliminating the PCAOB, Billy Long's confirmation as IRS commissioner despite his controversial past, and why accountant optimism has plummeted 58 points in just four months. Plus, discover how Miley Cyrus hid drug purchases from her accountant and why audit reports get downloaded only 30 times despite millions of investors.
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Show Notes
CPAacademy 2025 AI and Accounting Report
https://www.cpaacademy.org/resources/ai-accounting-report-2025
How to Reimagine Audit Quality Beyond the PCAOB
https://www.cpajournal.com/2025/01/15/reimagining-audit-quality-beyond-pcaob/
Inflow Survey: 70% of US Businesses Open to Switching Audit Firms
https://www.inflowaudit.com/resources/audit-firm-switching-survey-2025
Gian Porzio LinkedIn Post on Tribal Tax Credit Investigation
https://www.linkedin.com/posts/gianporzio_tribal-tax-credits-investigation-billy-long
Economist-YouGov Poll on Big Beautiful Bill Public Opinion
https://www.economist.com/graphic-detail/2025/06/13/americans-support-musk-criticism-trump-tax-bill
CBO Analysis of Big Beautiful Bill Wealth Transfer Effects
https://www.cbo.gov/publication/61234
Avalara 2025 Accountants Confidence Report
https://www.avalara.com/us/en/resources/reports/2025-accountants-confidence-report.html
Center for Audit Quality Audit Partner Pulse Survey
https://www.thecaq.org/audit-partner-pulse-survey-2025
European Business Travel to US Drops 25% in April
https://www.businesstravelnews.com/Management/European-Business-Travel-US-Drops-Tariff-Concerns
Xero 2025 State of the Industry Report
https://www.xero.com/us/resources/small-business-insights/state-of-industry-report-2025/
Indiana CPA Society Survey on Firm Headcount Predictions
https://www.incpas.org/resources/surveys/firm-headcount-predictions-2025
BDO $1 Billion AI Strategy Investment Announcement
https://www.bdo.com/insights/business-financial-advisory/technology/bdo-ai-strategy-investment
RSM $1 Billion AI Investment Plan
https://rsmus.com/insights/rsm-ai-investment-strategy-2025
Create Professional Alliance CPA $500 Million Investment Plan
https://www.createprofessionalalliance.com/investment-strategy
Thrive Capital $1 Billion OpenAI Investment Details
https://www.techcrunch.com/2024/08/15/thrive-capital-openai-investment-billion
General Catalyst Accrual AI Startup and Accounting Firm Acquisitions
https://www.generalcatalyst.com/portfolio/accrual-ai-accounting-vertical-integration
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Live from the Sage Future conference in Atlanta, Aaron Harris, CTO of Sage, joins Blake and David to explain why he wants to completely eliminate the financial close rather than just make it faster. Harris breaks down the three waves of AI transformation in accounting—from task-based automation to generative AI to fully autonomous agents—and reveals how Sage is building custom language models trained specifically on accounting principles with the AICPA. He also discusses the psychology of trust between CFOs and AI systems, introduces Sage's new AI transparency labels, and explains why his company is taking a more cautious approach than competitors like Intuit when deploying autonomous agents.
Meet Our Guest, Aaron Harris, CTO, Sage
LinkedIn: https://www.linkedin.com/in/aaron-harris-7407b2/
Website: https://www.sageintacct.com/leadership/aaron-harris
X: https://x.com/AaronRHarris
Learn more about Sage
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Transcripts
The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
Blake and David return from Sage Future 2025 with insights into how AI is reshaping accounting—from eliminating the financial close to real-world use cases. They also cover Elon Musk and Donald Trump’s public breakup, the latest in Deel’s corporate spying allegations, Deloitte’s unapologetically intense work-life balance ad, and a billion-dollar “AI” startup that turned out to be powered by humans.
Sponsors
OnPay - http://accountingpodcast.promo/onpay
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Show Notes
Real-life ways accountants are using AI
https://www.journalofaccountancy.com/issues/2025/jun/real-life-ways-accountants-are-using-ai/
Fieldguide Introduces Industry-Leading Agentic AI for Financial Audit to Improve Quality and Efficiency
https://www.globenewswire.com/news-release/2025/06/04/3093606/0/en/Fieldguide-Introduces-Industry-Leading-Agentic-AI-for-Financial-Audit-to-Improve-Quality-and-Efficiency.html
Fieldguide launches AI agent to automate audit testing
https://www.accountingtoday.com/news/fieldguide-launches-ai-agent-to-automate-audit-testing
How KPMG is using AI to revamp their audit practice
https://www.cfo.com/news/how-kpmg-thomas-mackenzie-is-using-clara-ai-to-revamp-their-audit-practice-/748316/
KPMG Advances AI Integration in KPMG Clara Smart Audit Platform
https://kpmg.com/us/en/media/news/kpmg-clara-smart-audit-platform.html
Ex-PwC Partner Says AI Is Coming For Big 4 Jobs in a Big Way
https://www.goingconcern.com/ex-pwc-partner-says-ai-is-coming-for-big-4-jobs-in-a-big-way/
PwC's 2025 Global AI Jobs Barometer
https://www.pwc.com/gx/en/news-room/press-releases/2025/ai-linked-to-a-fourfold-increase-in-productivity-growth.html
From bros to foes: how the unlikely Trump-Musk relationship imploded
https://www.reuters.com/world/us/bros-foes-how-unlikely-trump-musk-relationship-imploded-2025-06-06/
Deloitte's Latest Ad Promises Clients Their People Have No Life Whatsoever and Are Always Eager to Serve https://www.goingconcern.com/deloittes-latest-ad-promises-clients-their-people-have-no-life-whatsoever-and-are-always-eager-to-serve/
Microsoft backed this $1.5 billion AI startup that was just discovered to be 700 engineers pretending to be AI https://www.windowscentral.com/microsoft/builder-ai-collapse-microsoft-backed-fake-ai-services
Builder.ai faked AI with 700 engineers, now faces bankruptcy and probe
https://www.business-standard.com/companies/news/builderai-faked-ai-700-indian-engineers-files-bankruptcy-microsoft-125060401006_1.html
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Classifieds
Earmark Media Presents a bonus episode of Earmark Podcast:
What happens when Congress votes to eliminate the watchdog that's overseen public company audits for two decades? In this episode, Blake Oliver sits down with three leading accounting academics—Maureen McNichols from Stanford, Nemit Shroff from MIT, and Daniel Aobdia from Penn State—to examine the research behind the PCAOB's effectiveness and what elimination could mean for audit quality. You'll discover why companies with clean audit inspections can raise capital more easily, how the infamous "40% deficiency rate" actually works, and why these researchers believe dismantling the PCAOB could undermine trust in U.S. capital markets. The conversation reveals the hidden economics of audit oversight and explains why there hasn't been a major public company fraud since Enron and WorldCom.
Chapters
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Connect with Our Guests:
Maureen McNichols
https://www.gsb.stanford.edu/faculty-research/faculty/maureen-mcnichols
Nemit Shroff
https://mitsloan.mit.edu/faculty/directory/nemit-shroff
Daniel Aobdia
https://directory.smeal.psu.edu/dza5396
Connect with Blake Oliver, CPA
LinkedIn: https://www.linkedin.com/in/blaketoliver
Twitter: https://twitter.com/blaketoliver/
What happens when a major newspaper publishes a summer reading list where only five of the 15 books actually exist? Blake and David explore this real example of AI-generated content gone wrong and what it means for accounting professionals who increasingly rely on automated tools. They break down QuickBooks' latest price increases, demonstrate how AI can now build complex consolidation spreadsheets in minutes, and discuss why Excel skills still outrank AI knowledge in finance hiring. Plus, they examine the legal challenges facing Trump's tariff policies, alternative CPA pathway expansion, and hear from accounting student Jason Farley about the dangerous gap between classroom education and real-world cloud accounting practice.
Sponsors
Payhawk - http://accountingpodcast.promo/payhawk
Keeper - http://accountingpodcast.promo/keeper
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TeamUp - http://accountingpodcast.promo/teamup
Show Notes
Chicago Sun-Times fake summer reading list article
https://www.chicagosuntimes.com/fake-summer-reading-list-2025
South Carolina passes alternative CPA pathway legislation
https://www.scstatehouse.gov/cpa-pathway-legislation-2025
New Jersey alternative CPA pathway bill
https://www.njleg.state.nj.us/bills/cpa-alternative-pathway-2025
Oregon CPA licensure reform legislation
https://www.oregonlegislature.gov/cpa-pathway-reform-2025
Minnesota CPA education requirements change
https://www.revisor.mn.gov/cpa-education-requirements-2025
Illinois CPA pathway legislation
https://www.ilga.gov/cpa-pathway-bill-2025
Trump tariffs constitutional challenge court ruling
https://www.reuters.com/legal/trump-tariffs-constitutional-challenge-2025
Court of International Trade blocks global tariffs
https://www.cit.uscourts.gov/trump-tariffs-ruling-2025
International Emergency Economic Powers Act tariff authority
https://www.treasury.gov/ieepa-tariff-authority-analysis
PCAOB elimination provision in tax bill
https://www.congress.gov/bill/pcaob-elimination-provision
Billy Long IRS Commissioner confirmation hearing
https://www.finance.senate.gov/billy-long-confirmation-hearing
Billy Long tribal tax credits promotion controversy
https://www.irs.gov/tribal-tax-credits-fraud-warning
Federal Tax Updates podcast with Danny Werfel
https://federaltaxupdates.com/danny-werfel-interview
Solutions Magazine Excel vs AI survey
https://solutionsmagazine.com/excel-ai-finance-survey-2025
Microsoft Excel 40th anniversary analysis
https://www.technologylab.com/excel-40-years-anniversary
QuickBooks pricing increases for AI features
https://quickbooks.intuit.com/pricing-changes-ai-features-2025
Puzzle AI accounting platform pricing
https://puzzle.io/pricing
Digits AI bookkeeping service costs
https://digits.com/pricing-plans
Uplink AI bookkeeping pricing structure
https://uplink.com/ai-bookkeeping-pricing
Altman Dublin AI accounting company funding
https://altman.ie/series-a-funding-announcement
Perplexity Labs spreadsheet creation feature
https://labs.perplexity.ai/spreadsheet-tools
Microsoft Office bundling strategy vs Lotus 123
https://www.computerhistory.org/excel-lotus-competition
Meet our Guest, Chayton Farlee
LinkedIn: https://www.linkedin.com/in/chaytonfarlee/
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How close are we to expense reports that create themselves? In this crossover episode recorded live at Emburse in Motion, Blake Oliver explores real-world AI implementation with Adriana Carpenter, CFO of Emburse, and Olga Pavlova from PizzaExpress. Discover how PizzaExpress manages 350+ restaurant locations using AI to automatically flag policy violations and detect hidden SaaS subscriptions buried in expense reports. You'll learn specific strategies for vendor consolidation that deliver immediate cost savings, plus hear Adriana's vision for AI agents that guide employees through policy compliance in real time. From keyword detection that prevents VAT errors to mobile-first expense reporting that's "quarters away, not years away," this episode reveals practical automation wins you can implement today.
Meet Our Guests:
Adriana Carpenter
CFO, Emburse
LinkedIn: https://www.linkedin.com/in/adriana-carpenter-487507a/
Learn more about Emburse
https://www.emburse.com/company/about-emburse
Olga Pavlova-Grebliauske FCCA
LinkedIn: https://www.linkedin.com/in/olga-pavlova-grebliauske-fcca-8a625470/
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Transcripts
The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
What happens when Congress passes a $3.8 trillion deficit-increasing bill by just one vote while promising fiscal responsibility? Blake and David break down the "Big Beautiful Bill" and reveal who really benefits—spoiler alert: it's not the middle class or the national debt. They explore QuickBooks' aggressive new AI agents rollout with price hikes up to 17%, examine why Tesla's CPA CFO earned $139 million in one year, and uncover how tariff-stressed businesses are weaponizing invoice rejections to manage cash flow. You'll discover why the time-based billing model is fundamentally broken in accounting, learn about the emerging "Next 12" tier of accounting firms, and understand why partners work the most hours while achieving only 6.9/10 job satisfaction.
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TeamUp - http://accountingpodcast.promo/teamup
REFRAME 2025 - http://accountingpodcast.promo/reframe2025
Payhawk - http://accountingpodcast.promo/payhawk
Show Notes
Do Americans Support Trump's 'Big, Beautiful' Budget Package? What Poll Found Before it Passed in House
Tesla CFO earns staggering $139 million compensation package
https://www.foxbusiness.com/markets/tesla-cfo-earns-staggering-139-million-compensation-package
Tesla Exec Receives Record Pay Package, Highest Paid CFO
Tesla CFO Vaibhav Taneja draws record $139 million salary
Big 4 Transparency - Awards Season
https://big4transparency.beehiiv.com/p/big-4-transparency-awards-season
Tariffs & Trade Uncertainty Creates Invoice Rejections Surge
https://procurementmag.com/news/tariffs-trade-uncertainty-creates-invoice-rejections-surge
Invoice rejection spike suggests tactic's use as tariff buffer, study says
Art of Accounting: Analysis of Top 100 Firms data https://www.accountingtoday.com/opinion/art-of-accounting-analysis-of-top-100-firms-data
The corporate work week grows even longer
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REFRAME 2025 - http://accountingpodcast.promo/reframe2025
Want to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running...
Could the Pope be on the hook for US taxes? As the first American elected Pope, Leo XIV faces an unusual conundrum under US citizenship rules. Meanwhile, Intuit's controversial new API pricing has developers reeling, and Hector Garcia joins the conversation to explain why this "tariff" threatens the entire QuickBooks ecosystem. Blake and David also examine how companies use foreign trade zones to dodge Trump's tariffs, unpack the AICPA's new CPA licensure model, and reveal shocking numbers on government fraud that could approach $1 trillion annually. Plus, discover why 99.99% of Trump Memecoin buyers lost money while just 58 wallets walked away with billions.
Sponsors
REFRAME 2025 - http://accountingpodcast.promo/reframe2025
TeamUp - http://accountingpodcast.promo/teamup
Bluevine - http://accountingpodcast.promo/bluevine (Bluevine is a financial technology company, not a bank. Banking Services provided by Coastal Community Bank, Member FDIC.)
Payhawk - http://accountingpodcast.promo/payhawk
Show Notes
South Carolina Senate votes to remove state treasurer over $1.8 billion accounting error
https://www.thestate.com/news/politics-government/article287284067.html
Deal CEO Alex Bouaziz relocates to Dubai amid Rippling lawsuit
https://techcrunch.com/2024/04/15/deal-ceo-alex-bouaziz-has-relocated-to-dubai-amid-the-rippling-lawsuit/
Rippling raises $450 million at $16.8 billion valuation
https://techcrunch.com/2024/04/16/rippling-raises-450m-at-16-8b-valuation/
AICPA and NASBA release model legislation for new CPA licensure pathway
https://www.journalofaccountancy.com/news/2024/apr/aicpa-nasba-release-model-legislation-new-cpa-licensure-pathway.html
Florida Institute of CPAs successfully pauses bill to eliminate licensing boards
https://www.ficpa.org/article/ficpa-advocacy-update-on-house-bill-639
American Pope Leo XIV may need to file US tax returns
https://www.cnbc.com/2024/04/23/american-pope-leo-xiv-may-need-to-file-us-tax-returns.html
Foreign Trade Zones become tariff shelters amid Trump's trade policies
https://www.wsj.com/economy/tariffs/foreign-trade-zones-become-tariff-shelters-for-small-firms-a5e81093
Federal court questions constitutionality of Trump's Liberation Day tariffs
https://www.reuters.com/legal/us-trade-court-questions-legality-biden-tariffs-2024-04-17/
Elon Musk stepping aside at DOGE while work continues through 2026
https://www.axios.com/2024/04/22/elon-musk-stepping-aside-doge-june
IRS fails to meet improper payment rate goals for refundable tax credits https://www.treasury.gov/tigta/auditreports/2024reports/202440032fr.pdf
Criminal groups stealing up to $1 trillion from US government programs
https://www.nbcnews.com/business/economy/hackers-stealing-us-government-money-rcna150024
99.99% of Trump Memecoin buyers lost money while 58 wallets made over $10 million each
https://www.chainalysis.com/reports/trump-memecoin-analysis-2024/
Intuit's record lobbying spending and Republican support to eliminate IRS Direct File
https://www.opensecrets.org/news/2024/04/intuit-turbotax-parent-spends-record-on-lobbying-amid-direct-file-rollout/
Intuit Developer Program Changes
https://developer.intuit.com/app/developer/homepage
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What if your firm could cut its tech stack in half while delivering faster results to clients? In this episode, Blake and David explore the consolidation revolution in accounting software as practice management tools secure massive funding rounds. They also break down how private equity is reshaping the profession's business model, with some firms now prohibiting CPAs from using their credentials in email signatures. Plus, discover why a proposed Florida bill eliminating the Board of Accountancy could have nationwide implications for licensed professionals. Learn why shorter turnaround times—not lower prices—might be your most cost-effective path to happier clients in today's AI-transformed landscape.
Sponsors
OnPay - http://accountingpodcast.promo/onpay
Relay - http://accountingpodcast.promo/relay
REFRAME 2025 - http://accountingpodcast.promo/reframe2025
Payhawk - http://accountingpodcast.promo/payhawk
Show Notes
Firms with AI report higher per-employee revenue vs others
https://www.accountingtoday.com/news/firms-with-ai-report-higher-per-employee-revenue-vs-others
50% of finance teams still take over a week to close the books
https://www.cfo.com/news/50-of-finance-take-week-to-close-books-ledge-month-end-close-time-cfo-three-day-close-myth-/746085/
Shorter Turnaround Equals Happier Tax Clients
https://www.cpatrendlines.com/2025/05/shorter-turnaround-equals-happier-tax-clients/
Less than half of Americans believe federal income taxes are fair, Gallup poll finds
https://news.gallup.com/poll/taxes-fairness-poll-2025.aspx
Florida bill threatens to eliminate Board of Accountancy
https://www.goingconcern.com/florida-bill-threatens-to-eliminate-board-of-accountancy/
13 regional accounting firms unite under Sorin brand backed by private equity
https://www.accountingtoday.com/news/13-regional-accounting-firms-unite-under-sorin-brand
Bennett Thrasher rejects private equity, champions independence
https://www.accountingtoday.com/news/bennett-thrasher-rejects-private-equity-champions-independence
Interest in accounting rising among students, CAQ survey finds
https://www.thecaq.org/accounting-interest-students-survey-2025/
Treasury to stop issuing and accepting paper checks effective September 30, 2025
https://home.treasury.gov/news/press-releases/paper-checks-phase-out-2025
IRS and ICE reach agreement to share immigrants' tax information
https://www.irs.gov/newsroom/information-sharing-agreement-ice-2025
Bill to regulate tax preparers introduced in Congress
https://www.congress.gov/bill/tax-preparer-regulation-2025
Canopy raises $70 million Series C for practice management software
https://www.canopytax.com/blog/70-million-series-c-funding-2025
Thoma Bravo invests $100 million in HubSync for accounting technology growth
https://www.hubsync.com/news/thoma-bravo-investment-100-million
Xero and Bill forming alliance for embedded bill pay in the US
https://www.xero.com/blog/2025/05/bill-partnership-announcement/
Melio to embed payments for AR and AP inside Gusto
https://www.melio.com/blog/melio-gusto-partnership-2025
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Could AI create a $20 trillion professional services earthquake? In this episode, Blake and David dive into the data showing that AI firms generate $45,000 more revenue per employee than non-adopters. You'll discover how AI is reshaping traditional accounting and what Claude's new ability to connect with your Gmail and calendar means for productivity. They also demonstrate how indistinguishable AI-cloned voices have become, sharing practical tips to protect yourself and clients from increasingly sophisticated voice scams. Plus, hear why the "impossible" US customs broker exam (with its shocking 4% pass rate) might offer accountants a lucrative alternative career path as tariff disputes heat up.
Sponsors
OnPay - http://accountingpodcast.promo/onpay
Bluevine - http://accountingpodcast.promo/bluevine (Bluevine is a financial technology company, not a bank. Banking Services provided by Coastal Community Bank, Member FDIC.)
Reframe - http://accountingpodcast.promo/reframe2025
Payhawk - http://accountingpodcast.promo/payhawk
Show Notes
Firms with AI report higher per-employee revenue vs others
https://www.accountingtoday.com/news/firms-with-ai-report-higher-per-employee-revenue-vs-others
Nine Ways to Protect Yourself from 'Impostor' Voice Scams
https://www.magzter.com/stories/newspaper/The-Wall-Street-Journal/NINE-WAYS-TO-PROTECT-YOURSELF-FROM-IMPOSTOR-VOICE-SCAMS
Danish study challenges claims about AI disrupting the labor market
https://getcoai.com/news/danish-study-challenges-claims-about-ai-disrupting-the-labor-market/
50% of finance teams still take over a week to close the books
https://www.cfo.com/news/50-of-finance-take-week-to-close-books-ledge-month-end-close-time-cfo-three-day-close-myth-/746085/
The Great Legacy Extinction: AI's $20T Takeover of Professional Services
https://www.venrock.com/insights/insights-technology/the-great-legacy-extinction-ais-20t-takeover-of-professional-services/
What Do You Think of the New PwC Logo?
https://www.cpapracticeadvisor.com/2025/04/30/what-do-you-think-of-the-new-pwc-logo/159946/
Big Four accounting firm PwC to slash about 1,500 jobs in the US
https://www.reuters.com/sustainability/accounting-firm-pwc-cut-1500-us-jobs-ft-reports-2025-05-05/
How are different accounting firms using AI?
https://tax.thomsonreuters.com/blog/how-do-different-accounting-firms-use-ai/
Customs Broker License Exam (CBLE)
https://www.cbp.gov/trade/programs-administration/customs-brokers/license-examination-notice-examination
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TeePublic Store: http://cloudacctpod.link/merch
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Transcripts
The full transcript for this episode is ...
Could you spend years earning your CPA license only to be told you can't use it? In this episode, Mark Koziel, president of the AICPA, joins Blake and David to discuss the shocking trend of firms prohibiting CPAs from identifying themselves as such in emails, on business cards, and even on LinkedIn. Blake and David also explore the economic uncertainty created by Trump's tariff policies, with major corporations cutting costs and delaying investments. Plus, learn about Republican plans to eliminate the PCAOB, the wave of states creating alternative CPA pathways, and why Ramp could become the federal government's spend management platform.
Sponsors
OnPay - http://accountingpodcast.promo/onpay
Bluevine - http://accountingpodcast.promo/bluevine (Bluevine is a financial technology company, not a bank. Banking Services provided by Coastal Community Bank, Member FDIC.)
Cloud Accountant Staffing - http://accountingpodcast.promo/cas
RoboDebit - http://accountingpodcast.promo/robodebit
Show Notes
Trump Team Eyes Politically Connected Startup to Overhaul $700 Billion Government Payments Program
https://www.propublica.org/article/trump-peter-thiel-ramp-gsa-smartpay-expense-payment-system
Big 4 Alum Start Their Own Thing Hoping Clients Want Something Different and Conflict-Free
Texas passes CPA law as push to lower licensure barrier gains steam
Draft bill would eliminate PCAOB
https://www.accountingtoday.com/news/draft-bill-would-eliminate-pcaob-empower-sec
Why The IRS Went Through 4 Acting Commissioners In 3 Months
https://abovethelaw.com/2025/04/why-the-irs-went-through-4-acting-commissioners-in-3-months/
'Hard no': Millionaire tax hike proposal has House Republicans divided
https://www.foxnews.com/politics/hard-no-millionaire-tax-hike-proposal-has-house-republicans-divided
Tariffs and global trade: The economic impact on business
Firms with AI report higher per-employee revenue
https://www.accountingtoday.com/news/firms-with-ai-report-higher-per-employee-revenue-vs-others
The mysterious donor who paid for Pope Francis' funeral
https://en.ara.cat/misc/the-mysterious-donor-who-paid-for-pope-francis-funeral_1_5357026.html
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Get in Touch
Thanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.
Sponsorships
Are you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.
Need Accounting Conference Info?
Check out our new website - accountingconferences.com
Limited edition shirts, stickers, and other necessities
TeePublic Store: http://cloudacctpod.link/merch
Subscribe
Classifieds
REFRAME 2025 - http://accountingpodcast.promo/reframe2025
Want to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd
Transcripts
The full transcript for this episode is available by clicking on the Transcript tab at the top o...
