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Show Notes
Coming soon!
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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 examine the growing threat of AI-generated fake receipts, with 32% of accountants unable to recognize fraudulent documents and 30% reporting an increase in fraud since last year. They also discuss the concerning decline in entry-level auditor positions (down 43% since January) as firms adopt AI automation, while nearly half of accounts payable professionals now fear layoffs and also explore the concept of "work slop"—low-quality AI-generated work costing businesses nearly $200 per employee monthly—and debate whether firms should require clients to use standardized technology stacks, with only 37% currently doing so.
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Show Notes
32% of accountants can't recognize AI-generated fake receipts
https://www.accountingtoday.com/news/32-admit-they-cannot-recognize-ai-generated-fake-receipts
Entry-level auditor job postings fell 43%, per Randstad
https://www.accountingtoday.com/news/entry-level-auditor-job-postings-fell-43-per-randstad
AI-Generated "Workslop" Is Destroying Productivity
https://hbr.org/2025/09/ai-generated-workslop-is-destroying-productivity
97% say CPA firms not using tech efficiently says survey
https://www.accountingtoday.com/news/97-say-cpa-firms-not-using-tech-efficiently-says-survey
CPA.com & BILL Growth Survey: How Firms Plan to Stay Ahead
https://www.bill.com/blog/cpa-and-bill-growth-technology-survey
AP Pros Face Growing Layoff Concerns and See Automation as a Career Lifeline
Get more control over your workflows with Human in the Loop!
54% use AI in tax research, but search engines remain prominent
https://www.accountingtoday.com/news/54-use-ai-in-tax-research-but-search-engines-remain-prominent
Drake Software Introduces Drake Tax Online
https://www.cpapracticeadvisor.com/2025/09/24/drake-software-introduces-drake-tax-online/169572/
Drake Software Launches Drake Tax Online: Powerful, Flexible Tax Software in the Cloud
NASBA, AICPA release proposed revisions to CPE standards
NASBA, AICPA Release Exposure Draft of Proposed Revisions to CPE Standards
https://nasba.org/blog/2025/09/15/revisions-to-cpe-standards-2025/
H-1B FAQ
https://www.uscis.gov/newsroom/alerts/h-1b-faq
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Are accounting firms quietly having their best year ever? Blake and David break down why revenues and partner comp are rising—despite AI anxiety—and what it means for pricing and staffing. They unpack Gusto Money’s Melio-powered bill pay, Relay’s $1B milestone, Drake’s new workflow, and AI tools that actually help (note-takers, agents, research). Plus: Trump’s biannual reporting idea, peer review for PE-backed firms, BOI reversal, and the messy ‘no tax on tips’ proposal.
Sponsors
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TeamUp - http://accountingpodcast.promo/teamup
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Show Notes
CPA Firms Report Steady Growth in Revenue and Profit, AICPA Research Finds
https://www.aicpa-cima.com/news/article/cpa-firms-report-steady-growth-in-revenue-and-profit-aicpa-research-finds
Vinyl Raises $2M to Build the Future of AI Meeting Assistants for Accountants
https://www.usevinyl.com/insights/blog/vinyl-seed-funding-announcement
Drake Software Unveils Powerful New Tax Workflow Automation Tools
https://www.prnewswire.com/news-releases/drake-software-unveils-powerful-new-tax-workflow-automation-tools-302558230.html
NASBA Releases CPA Mobile App for Future CPAs
https://www.accountingtoday.com/news/nasba-releases-cpa-mobile-app
AICPA Seeks Comment on Peer Review Proposal for Firms with Private Equity Backing
https://www.cpapracticeadvisor.com/2025/09/16/aicpa-seeks-comment-on-peer-review-proposal-for-firms-with-private-equity-backing/169014/
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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 examine several major developments affecting the accounting profession, including the proposed HIRE Act that would impose a 25% excise tax on offshore labor payments to accounting firms. They also look at how AI is transforming hiring practices at major firms like PwC, which is cutting graduate recruitment due to advancing technology and explore practical AI implementation strategies for accounting firms, moving beyond basic chatbots to integrated workflows. The show wraps up with a story about fraud at The Epoch Times - a $67 million money laundering scheme - and the ongoing costs of bad social media tax advice.
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Relay - http://accountingpodcast.promo/relay
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Show Notes
New Moreno Bill Would Crack Down on Outsourcing, Fund American Workers - Senator Bernie Moreno
HIRE Act - A BILL
https://www.moreno.senate.gov/wp-content/uploads/2025/09/The-HIRE-Act.pdf
Moreno Bill to Crackdown on Foreign Outsourcing Blocked by Senate Democrats - Senator Bernie Moreno
Offshoring is Screwed If This HIRE Act Thing Goes Anywhere But Let's Not Get Too Excited Yet - Going Concern
PwC's U.K. chief admits he's cutting back entry-level jobs and taking a 'watch and wait' approach to see how AI changes work | Fortune
AI takes entry-level jobs as Big Four slash graduate hiring
https://bmmagazine.co.uk/news/big-four-cut-graduate-jobs-ai/
PwC Cuts Graduate Hiring as AI Reshapes Entry-Level Careers - TechStory
https://techstory.in/pwc-cuts-graduate-hiring-as-ai-reshapes-entry-level-careers/
IRS assesses $162 million in penalties over false tax credit claims tied to social media | Internal Revenue Service
Social media claims cost taxpayers $162M, IRS says. See the 'tips' to avoid
IRS warns taxpayers: Social media advice can lead to costly penalties
Dirty Dozen: Taking tax advice on social media can be bad news for taxpayers; inaccurate or misleading tax information circulating | Internal Revenue Service
Albania appoints world's first AI government 'minister' to root out corruption | Euronews
Diella (AI system) - Wikipedia
https://en.wikipedia.org/wiki/Diella_(AI_system)
Epoch Times embroiled in alleged cryptocurrency money laundering scheme - The Washington Post
https://www.washingtonpost.com/style/media/2024/06/04/epoch-times-money-laundering-cryptocurrency/
CFO of Falun Gong-linked Epoch Times arrested and accused of role in $67m multinational money laundering scheme | Fortune
The only recap of Red Lobster's downfall you need
https://thetakeout.com/red-lobster-endless-shrimp-private-equity-downfall-recap
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Are AI “super agents” like Xero’s Jax actually useful—or just shiny chatbots? Blake and David unpack Xerocon announcements, why embedded agents lack context, smarter way to automate bank feeds with rules, the leaked “no tax on tips” job list and planning opportunities, IRS staffing whiplash, plus what billion‑dollar AI pledges from big firms really mean. Walk away with practical steps to deploy AI that saves hours without losing control.
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TeamUp - http://accountingpodcast.promo/teamup
Rippling - http://accountingpodcast.promo/rippling
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Show Notes
Treasury names jobs for Trump's 'no tax on tips' deduction
https://www.cnbc.com/2025/09/03/treasury-trump-no-tax-on-tips-jobs.html
Scoop: List of jobs covered by Trump's "no tax on tips" (See if you qualify)
https://www.axios.com/2025/09/01/no-tax-on-tips-jobs-trump-bill
Workers in 68 occupations may soon be exempt from paying taxes on tips, including some surprising jobs
https://www.cbsnews.com/news/no-tax-on-tips-trump-big-beautiful-bill-68-occupations-heres-who/
IRS is canceling its layoff plans, will ask some it fired or pushed out to return
https://www.govexec.com/workforce/2025/08/irs-canceling-its-layoff-plans-will-ask-some-it-fired-or-pushed-out-return/407620/
The IRS is Downsizing: Key Divisions Most Affected in 2025
https://sandbergphoenix.com/the-irs-is-downsizing-key-divisions-most-affected-in-2025/
Grant Thornton Advisors investing $1 billion to arm the multinational workforce across its platform with powerful AI tools and technology
https://www.businesswire.com/news/home/20250904414830/en/Grant-Thornton-Advisors-investing-$1-billion-to-arm-the-multinational-workforce-across-its-platform-with-powerful-AI-tools-and-technology
Grant Thornton Advisors to Sink $1 Billion Over Three Years on AI
https://www.cpapracticeadvisor.com/2025/09/05/grant-thornton-advisors-to-sink-1-billion-over-three-years-on-ai/168500/
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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
Are AI bank feeds helping—or just creating more work? Blake and David unpack Intuit’s missteps, why “use AI to make the rules” matters, and how a no‑code agent now posts multi‑line bills to Xero. They demo Excel’s new "copilot()" function, share how FP&A roles are shifting, and hit headlines from Barstool’s lawsuit to tariffs and Gusto’s Guideline deal. You’ll leave with practical ways to deploy AI, avoid hidden risks, and boost margins.
Sponsors
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TeamUp - http://accountingpodcast.promo/teamup
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Show Notes
Bring AI to your formulas with the COPILOT function in Excel
https://techcommunity.microsoft.com/blog/microsoft365insiderblog/bring-ai-to-your-formulas-with-the-copilot-function-in-excel/4443487
FP&A pros anticipate AI-driven headcount reductions
https://www.accountingtoday.com/news/fp-a-pros-anticipate-ai-driven-headcount-reductions
President Trump Ends Unfair "De Minimis" Tariff Exemption, A Major Victory in Securing the Homeland https://www.dhs.gov/news/2025/07/31/president-trump-ends-unfair-de-minimis-tariff-exemption-major-victory-securing
Fact Sheet: President Donald J. Trump is Protecting the United States' National Security and Economy by Suspending the De Minimis Exemption for Commercial Shipments Globally
https://www.whitehouse.gov/fact-sheets/2025/07/fact-sheet-president-donald-j-trump-is-protecting-the-united-states-national-security-and-economy-by-suspending-the-de-minimis-exemption-for-commercial-shipments-globally/
Barstool Sports Sues Accounting Firm Over Unpaid Advertising Bills
https://www.sportico.com/law/analysis/2025/barstool-omega-accounting-solutions-advertising-lawsuit-1234868719/
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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
Can AI agents actually reduce your workload—or just add hype? Blake demos how he rebuilt bill-entry “Hubdoc-style” in about an hour with Zapier Agents, then maps out why most AI pilots fail without documented workflows and human approvals. Plus: PwC’s plan to hire one-third fewer grads, juniors supervising AI, HMRC scanning social posts for tax gaps, and fresh salary and pricing benchmarks. Learn where AI truly fits—and how to price with confidence.
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Show Notes
The GenAI Divide: State of AI in Business 2025 (MIT NANDA Report)
https://fortune.com/2025/08/18/mit-report-95-percent-generative-ai-pilots-at-companies-failing-cfo/
Getting a job at PwC out of college will be a lot tougher. It plans to recruit a third fewer grads by 2028
https://www.aol.com/getting-job-pwc-college-lot-120316405.html
HMRC uses AI to spot tax fraud on social media
https://www.accountancyage.com/2025/08/12/hmrc-uses-ai-to-spot-tax-fraud-on-social-media/
The 2025 Accounting Today Salary Survey: Sweetening the deal
https://www.accountingtoday.com/news/the-2025-accounting-today-salary-survey-sweetening-the-deal
2025 U.S. Accounting and Tax Pricing Benchmark (Ignition)
https://www.ignitionapp.com/us/2025-accounting-tax-pricing-benchmark
TaxDome Releases First-of-Its-Kind 2025 Niche Business Accounting Report
https://www.morningstar.com/news/pr-newswire/20250819ph53815/taxdome-releases-first-of-its-kind-2025-niche-business-accounting-report
2025 Niche Business Accounting Report (TaxDome)
https://taxdome.com/niche-report-2025
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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
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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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 c...
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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Keeper - http://accountingpodcast.promo/keeper
TeamUp - http://accountingpodcast.promo/teamup
Human at Scale - http://accountingpodcast.promo/human
Missive - http://accountingpodcast.promo/missive
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.
Sponsors
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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.
Sponsors
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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.
Sponsors
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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.
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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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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 Accounting Podcast? For details, read the prospectus.
Need Accounting Conference Info?
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Limited edition shirts, stickers, and other necessities
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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.
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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/
