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The Accounting Podcast

Blake Oliver & David Leary

The most authoritative voice in accounting news. Every week, Blake Oliver and David Leary break down the stories reshaping the profession — AI, the Big Four, firm M&A, audit failures, and the talent crisis — with analysis you won't get from the trade press. Earn free NASBA-approved CPE just for listening, with the Earmark app.

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  • 28 episodes
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  • Avg 1 hr 1 min
  • English

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  • #507
    Thursday · 1 hr 4 min

    When Financial Reports Used to Be Cool & AI's Microwave Moment

    Will AI replace accountants—or finally ease the profession’s talent shortage? Blake and David unpack why AI-exposed accounting roles are seeing pay rise, not fall; how EY cut audit deficiencies from 28% to under 5%; and why firms must give AI agents limited access and auditable logins. They also explore the coming firm structure: fewer staff, more AI agents, and partners focused on judgment, review, and client relationships. Sponsors Cloud Accountant Staffing - http://accountingpodcast.promo/cas Numeral - http://accountingpodcast.promo/numeral OnPay - http://accountingpodcast.promo/onpay Veltrix - http://accountingpodcast.promo/veltrix Chapters (00:00) - Staff Are Gone (01:52) - Doctor Note AI Warning (03:33) - AI Access Controls Lesson (06:05) - Annual Reports Design (07:59) - Taxing AI Debate (13:08) - Audit Judgment Future (19:11) - EY Audit Quality Surge (23:05) - Meta Muse Microwave Moment (29:52) - Apps Handing Off To Claude (31:58) - AI As The Interface (32:58) - LLMs Become The New OS (34:15) - Where AI Captures Value (35:29) - Platform Cloning Threats (36:26) - Regulation Protects Fintech (37:02) - Orchestrating Accounting Agents (39:10) - One Universal Business Brain (41:53) - Big Four Future In AI (46:32) - KPMG Incubator Career Play (49:52) - America Solopreneur Boom (52:53) - Are Business Filings Real (53:53) - Spotify Lessons For Firms (58:18) - Accountant Turned Top DJ (01:01:13) - Shakira Tax Residency Fight (01:02:35) - Wrap Up And CPE Plug Show Notes The turbulent AI era is here. The choices we make now are critical. https://www.gatesnotes.com/a-turbulent-ai-era-and-critical-choices-to-make US jobs paradox: AI-exposed roles see 46% pay surge even as AI-linked layoffs rise https://businesstoday.in/technology/story/us-jobs-paradox-ai-exposed-roles-see-46-pay-surge-even-as-ai-linked-layoffs-rise-556730-2026-09-21 PCAOB's Logothetis: AI can only do part of an auditor's job https://www.accountingtoday.com/news/pcaobs-logothetis-ai-can-only-do-part-of-an-auditors-job EY reports improved audit quality https://www.accountingtoday.com/news/ey-reports-improved-audit-quality Introducing Muse: The World's First Personal AI Agent Built for Everyone https://about.fb.com/news/2026/09/introducing-muse-personal-ai-agent/ Expensify Becomes One of the First Expense Management Tools Available in Claude for Small Business https://finviz.com/news/392305/expensify-becomes-one-of-the-first-expense-management-tools-available-in-claude-for-small-business Xero Wherever You Work: Real-Time Financial Intelligence in Claude for Small Business and ChatGPT https://blog.xero.com/product-updates/claude-for-small-business-chatgpt-ai-integrations-launch/ Avalara launches Aviator AI hub for tax compliance https://itbrief.co.uk/story/avalara-launches-aviator-ai-hub-for-tax-compliance Clients now expect some projects to happen twice as fast, PwC partner says https://www.indiaipo.in/news/detail/clients-now-expect-some-projects-to-happen-twice-as-fast-pwc-partner KPMG Announces Client Technology & Innovation Group to Build AI-Native Businesses https://kpmg.com/us/en/media/news/kpmg-announces-client-technology-innovation-group.html America has become an entrepreneur's paradise https://thenightly.com.au/business/the-economist-america-has-become-an-entrepreneurs-paradise-c-22636515 What accounting firms can learn from the music industry https://www.accountingtoday.com/opinion/what-accounting-firms-can-learn-from-the-music-industry John Summit Saved $20,000 and Quit His Accounting Job to Become a DJ. Now He's Building an Entertainment Empire https://www.entrepreneur.com/building-a-business/john-summit-saved-20000-and-quit-his-accounting-job-to-become-a-dj-now-hes-building-an-entertainment-empire Shakira takes Spain stage as court reviews $63M tax claim https://www.accountingtoday.com/articles/shakira-takes-spain-stage-as-court-reviews-63m-tax-claim Need CPE? Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com 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? Check out our new website - accountingconferences.com Limited edition shirts, stickers, and other neces...

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  • #506
    September 25 · 57 min

    Tips to Roll Out AI In Your Firm, AI Squeezing Audit Fees

    Could AI make a one-person audit firm possible—and what happens if the data-center boom slows down first? Blake and David examine the AI economy’s circular debt, the construction ripple effects of a pullback, and practical ways firms can document workflows before automating them. They also cover AI-powered continuous audits, Mercury’s new general ledger, and tax evasion headlines. Sponsors Digits - http://accountingpodcast.promo/digits Thomson Reuters - http://accountingpodcast.promo/taxautomation OnPay - http://accountingpodcast.promo/onpay Cloud Accountant Staffing - http://accountingpodcast.promo/cas Chapters (00:00) - OnlyFans Tax Evasion (00:27) - Podcast Welcome Halloween (04:02) - News Lineup (06:34) - AI Bubble Warning (14:14) - AI Adjusted EBITDA (18:07) - SOP Marathon For AI (21:19) - AI SOP Workflow Tip (26:41) - Christina Ho AI Audits (29:22) - Audit Fees Under AI (29:55) - Audit Fees Surge (30:57) - AI Disrupts Audits (33:56) - Solo CPA Audit Firm (35:26) - Who Wins and Loses (35:52) - Audit Demand Explained (36:40) - Tech Enables New Entrants (38:26) - Audit Like Cloud Accounting (42:00) - ‌ (43:03) - IRS Refund Nightmare (44:33) - OnlyFans Tax Evasion (46:51) - Punishing Financial Crime (49:59) - Mercury Launches Books (52:22) - Can Banks Compete (54:33) - Is Mercury Enough (56:44) - Wrap Up and CPE Show Notes NRF: Halloween spending to remain strong, reach $13.5B https://chainstoreage.com/nrf-halloween-spending-remain-strong-reach-135b Too interconnected to fail? New paper connects the AI dots https://www.axios.com/2026/09/21/ai-finance-credit-circular The AI gold rush has a dress code: steel-toe boots https://finance.yahoo.com/economy/articles/ai-gold-rush-dress-code-233725771.html 40% of Small Businesses Lack Cash Reserves to Survive a Month of Late Client Payments https://www.cpapracticeadvisor.com/2026/09/21/40-of-small-businesses-lack-cash-reserves-to-survive-a-month-of-late-client-payments/190371/ AI Future Savings Is Latest Ebitda Tweak to Jolt Debt Investors https://www.bloomberg.com/news/articles/2026-09-17/ai-future-savings-is-latest-ebitda-tweak-to-jolt-debt-investors How to run a SOPathon: The missing first step in every AI strategy https://www.accountingweb.co.uk/community/industry-insights/how-to-run-a-sopathon-the-missing-first-step-in-every-ai-strategy The 3-phase roadmap every accounting firm needs before AI delivers https://www.accountingtoday.com/opinion/the-3-phase-roadmap-every-accounting-firm-needs-before-ai-delivers Process Street MCP Server https://www.process.st/help/docs/mcp-server/ Christina Ho's next act https://www.cfobrew.com/stories/christina-hos-next-act AI sounds the death knell for audit fee inflation https://www.ft.com/content/80d02797-9a54-47e0-8bc3-a7144354da93 Tennessee Farmer Tried to Return $20,000 to IRS. Years Later, He's Still Fighting https://www.cpapracticeadvisor.com/2026/07/23/tennessee-farmer-tried-to-return-20000-to-irs-years-later-hes-still-fighting/187281/ OnlyFans content creator pleads guilty to tax evasion https://www.irs.gov/compliance/criminal-investigation/onlyfans-content-creator-pleads-guilty-to-tax-evasion Mercury Launches Intelligent Accounting with Mercury Books https://www.morningstar.com/news/business-wire/20260916850195/mercury-launches-intelligent-accounting-with-mercury-books Need CPE? Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com 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? Check out our new website - accountingconferences.com Limited edition shirts, stickers, and other necessities TeePublic Store: http://cloudacctpod.link/merch Subscribe Apple Podcasts: http://cloudacctpod.link/ApplePodcasts YouTube: https://www.youtube.com/@TheAccountingPodcast Spotify: http://cloudacctpod.link/Spotify Podchaser: http://cloudacctpod.link/podchaser Stitcher: http://cloudacctpod.link/Stitcher Overcast: http://cloudacctpo...

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  • #505
    September 18 · 49 min

    Feds Target KPMG Polymarket Insider Trading, ComplYant Founder Charged with Wire Fraud

    Is AI the real threat to accounting firms, or is it the client experience? Blake and David unpack a KPMG-linked Polymarket insider-trading investigation, AI-powered fraud, Xero’s influencer backlash, and a tax startup founder charged with defrauding investors. They also share their own experiments using Claude and ChatGPT to prepare tax returns, making the case that firms must eliminate frustrating back-and-forth if they want to keep clients. Sponsors Cloud Accountant Staffing - http://accountingpodcast.promo/cas OnPay - http://accountingpodcast.promo/onpay Thomson Reuters - http://accountingpodcast.promo/taxautomation Savant Labs - http://accountingpodcast.promo/savant Chapters (00:00) - Client Experience Threat (00:30) - Podcast Welcome Banter (02:05) - Week's News Rundown (04:17) - KPMG Polymarket Probe (11:46) - KPMG TaxSim Training (13:40) - KPMG OpenAI Headless UI (17:13) - Deepfake Defense Stakes (18:31) - Revolut Social Engineering (20:33) - Compliant CEO Fraud Case (25:31) - Xero Influencer Backlash (25:41) - Xero Claude Ad Backlash (28:57) - Apology and AI Framing (29:59) - DIY Taxes With AI (34:05) - Client Experience Problem (40:15) - IRS AI Fee Guidance (43:00) - PwC Leaves Downtown LA (44:48) - Wrap Up and CPE Show Notes Polymarket Trader Won 41 of 42 Earnings Bets on Companies KPMG Audits https://www.financemagnates.com/forex/polymarket-trader-won-41-of-42-earnings-bets-on-companies-kpmg-audits/ SEC Charges Startup Founder with Fraud (Shiloh Luckey / ComplYant) https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26424 KPMG Is Testing a New AI-Powered Tax Simulation Tool https://goodfest.westfield.com/2026/05/kpmg-is-testing-a-new-ai-powered-tax-simulation-tool/ KPMG working with OpenAI to advance new "headless" enterprise tech model https://www.accountingtoday.com/news/kpmg-working-with-openai-to-advance-new-headless-enterprise-tech-model KPMG LLP Takes Minority Stake in Deepfake Detection Leader Reality Defender https://kpmg.com/us/en/media/news/kpmg-llp-takes-minority-stake-in-deepfake-detection-leader-reality-defender.html Cybercriminals using AI for fraud are making far more profit, Interpol claims https://www.techradar.com/pro/security/cybercriminals-using-ai-for-fraud-are-making-4-5x-more-profit-interpol-says Revolut confirms customer data breach after fake government requests https://fstech.co.uk/fst/Revolut_Confirms_Customer_Data_Breach_After_Fake_Government_Requests.php Xero issues new apology to accountants, days after controversial social media post https://www.smartcompany.com.au/?p=344586 To our accountant and bookkeeper community https://blog.xero.com/uk/accountants-bookkeepers/to-our-accountant-and-bookkeeper-community/ AICPA seeks IRS clarity on AI guidelines, CPA fees https://www.thetaxadviser.com/news/2026/sep/aicpa-seeks-irs-clarity-on-ai-guidelines-cpa-fees/ Downtown L.A. Fixture PwC Will Move to Century City https://www.cpapracticeadvisor.com/2026/07/08/downtown-l-a-fixture-pwc-will-move-to-century-city/186368/ Need CPE? Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com 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? Check out our new website - accountingconferences.com Limited edition shirts, stickers, and other necessities TeePublic Store: http://cloudacctpod.link/merch Subscribe Apple Podcasts: http://cloudacctpod.link/ApplePodcasts YouTube: https://www.youtube.com/@TheAccountingPodcast Spotify: http://cloudacctpod.link/Spotify Podchaser: http://cloudacctpod.link/podchaser Stitcher: http://cloudacctpod.link/Stitcher Overcast: http://cloudacctpod.link/Overcast Classifieds Fearless Foundry - www.advisoryamplified.com Expense Bot - https://www.expensebot.ai/accountant ProfitRoot - https://tryprofitroot.com/ Want to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job post...

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  • #504
    September 10 · 1 hr 11 min

    EY to Bonus Staff $100M, Deloitte Pays $21M to Settle DEI Case

    Can AI prepare a tax return—and catch errors the software misses? Blake shares how Claude Cowork reconciled books, built workpapers, and completed two business returns, while David examines EY’s bonuses for human judgment, Deloitte’s $21 million DEI settlement, and PwC’s Evergrande exposure. Plus, Cloud Accountant Staffing’s Jordan Sublette explains why onshoring is joining offshore hiring strategies for accounting firms. Sponsors OnPay - http://accountingpodcast.promo/onpay Thomson Reuters - http://accountingpodcast.promo/taxautomation Savant Labs - http://accountingpodcast.promo/savant Cloud Accountant Staffing - http://accountingpodcast.promo/cas Chapters (00:00) - Ethics And Job Security (00:18) - Show Intro And Headlines (02:34) - Livestream Shoutouts (03:03) - Claude CoWork Tax Prep (06:54) - AI Catches TaxAct Errors (11:26) - Accrual Buys Puzzle (18:19) - EY Human Skills Bonuses (20:33) - Deloitte DEI Settlement (27:43) - Salaries And Big Four Fallout (31:22) - PwC Evergrande Liability (35:03) - Grant Thornton Buys CBIZ (36:25) - CBIZ Returns Reality Check (37:23) - Marcum Deal And Partner Payouts (38:34) - IRS Revenue Hits Record (40:50) - Chat Reactions And AI Ledgers (44:03) - AI Cost Seg Pitfalls (53:00) - Jordan Joins And Origin Story (55:06) - Jason Staats Partnership Explained (59:37) - Onshoring Portal And Pricing (01:04:58) - Candidate Vetting And Training (01:09:37) - Meetups And CPE Wrap Up Show Notes Accrual to Acquire Puzzle to Expand Into Client Accounting Services https://www.cpapracticeadvisor.com/2026/09/02/accrual-takes-the-leap-into-cas-by-acquiring-puzzle/189565/ EY Rewards Employees' Human Skills With $100M https://www.accountingtoday.com/news/ey-rewards-employees-human-skills-with-100m Deloitte to Pay $21.5M to Settle Claims Its DEI Programs Violated Federal Civil Rights Law https://www.cfo.com/news/deloitte-to-pay-215m-to-settle-claims-its-dei-programs-violated-federal-c/828948/ Accounting Firm Salaries Rose Slightly This Year https://www.cfobrew.com/stories/accounting-firm-salaries-rose-slightly-this-year KPMG Australia to Axe 5% of Workforce https://www.cfo.com/news/kpmg-australia-to-axe-5-of-workforce-John-Sams/828636/ PwC International Can't Exit Evergrande Case, HK Court Rules https://www.bloomberg.com/news/articles/2026-08-26/pwc-international-can-t-exit-evergrande-case-hk-court-rules CBIZ Told Grant Thornton No, No, No, Before Saying Yes https://cpatrendlines.com/2026/09/01/cbiz-told-grant-thornton-no-no-no-before-saying-yes/ IRS Enforcement Activity Fell Despite Record Tax Collections, TIGTA Says https://www.journalofaccountancy.com/news/2026/aug/irs-enforcement-activity-fell-despite-record-tax-collections-tigta-says/ Cost Segregation in the Age of AI: What the IRS Audit Technique Guidelines Reveal https://www.accountingtoday.com/opinion/cost-segregation-in-the-age-of-ai-what-the-irs-audit-technique-guidelines-reveal Need CPE? Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com 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? Check out our new website - accountingconferences.com Limited edition shirts, stickers, and other necessities TeePublic Store: http://cloudacctpod.link/merch Subscribe Apple Podcasts: http://cloudacctpod.link/ApplePodcasts YouTube: https://www.youtube.com/@TheAccountingPodcast Spotify: http://cloudacctpod.link/Spotify Podchaser: http://cloudacctpod.link/podchaser Stitcher: http://cloudacctpod.link/Stitcher Overcast: http://cloudacctpod.link/Overcast Classifieds Fearless Foundry - www.advisoryamplified.com Expense Bot - https://www.expensebot.ai/accountant ProfitRoot - https://tryprofitroot.com/ 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 Th...

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  • #503
    September 2 · 1 hr 15 min

    TurboTax Losing Customers Over Price, Thomson Reuters Builds Own AI

    Can AI make tax prep cheaper without replacing the experts behind it? Hector Garcia joins Blake and David to unpack Intuit’s TurboTax pricing pressure, QuickBooks’ push into the mid-market, and whether AI-powered services are a bridge to automation. They also examine Thomson Reuters’ proprietary tax-and-legal AI model, Relate’s $100 million raise, and a student’s unusual path onto the New Mexico Board of Accountancy. Sponsors Cloud Accountant Staffing - http://accountingpodcast.promo/cas Thomson Reuters - http://accountingpodcast.promo/taxautomation OnPay - http://accountingpodcast.promo/onpay Savant Labs - http://accountingpodcast.promo/savant Chapters (00:00) - TAP 503 (02:47) - Intuit earnings overview (03:52) - Meet Hector Garcia (04:40) - Intuit stock and AI fears (07:57) - TurboTax pricing pressure (11:34) - TurboTax Live strategy shift (16:12) - TurboTax Live vs firms (19:47) - AI plus human bridge (22:13) - QuickBooks Free and Light (25:54) - Thomson Reuters builds LLM (30:29) - Trust security and ownership (34:16) - Vertical models disrupt giants (35:18) - Copilot partnership pitch (36:51) - Bulk AI Adoption (38:59) - Rillet Unicorn News (39:21) - Workday Buyout Math (40:50) - Switching Costs Reality (43:12) - Intuit Versus Rillet (45:26) - How Rillet Wins (48:18) - AI Spend Line Item (51:15) - Stripe Buys OpenRouter (53:22) - Reframe Conference Pitch (56:01) - Pablo Pledgebar Cautionary (57:08) - Britton Joins Board (01:01:37) - Student View On PE (01:04:57) - Education And AI Concerns (01:09:33) - Board Dynamics Explained (01:12:12) - Regulation Priorities (01:15:13) - Wrap Up And CPE Show Notes Intuit Reports Fourth Quarter and Full Year Fiscal 2026 Results; Sets Fiscal 2027 Guidance https://investors.intuit.com/news-events/press-releases/detail/1320/intuit-reports-fourth-quarter-and-full-year-fiscal-2026-results-sets-fiscal-2027-guidance Thomson Reuters Leverages its World-Class Data Assets to Launch Its Own Frontier Model https://www.thomsonreuters.com/en/press-releases/2026/august/thomson-reuters-leverages-its-world-class-data-assets-to-launch-its-own-frontier-model Rillet Raises $100 Million Series C at $1 Billion Valuation, Becomes Unicorn https://techcrunch.com/2026/08/19/rillet-raises-100m-series-c-at-1b-valuation-2-years-after-emerging-from-stealth/ Silver Lake Eyes $51 Billion Workday Take-Private in Mega Software Deal https://www.axios.com/2026/08/14/silver-lake-workday-take-private Stripe Agrees to Acquire OpenRouter to Help Businesses Optimize Token Routing and Usage https://stripe.com/newsroom/news/stripe-agrees-to-acquire-openrouter From Accounting Major and Frat Brother to Suspected of Being Penn State's Largest Drug Dealer https://www.nbcnews.com/news/us-news/penn-state-agostino-abbatiello-drug-scheme-rcna593041 Accounting Student Appointed to the New Mexico Public Accountancy Board https://news.unm.edu/news/accounting-student-appointed-to-the-new-mexico-public-accountancy-board Need CPE? Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com 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? Check out our new website - accountingconferences.com Limited edition shirts, stickers, and other necessities TeePublic Store: http://cloudacctpod.link/merch Subscribe Apple Podcasts: http://cloudacctpod.link/ApplePodcasts YouTube: https://www.youtube.com/@TheAccountingPodcast Spotify: http://cloudacctpod.link/Spotify Podchaser: http://cloudacctpod.link/podchaser Stitcher: http://cloudacctpod.link/Stitcher Overcast: http://cloudacctpod.link/Overcast Classifieds Fearless Foundry - www.advisoryamplified.com Expense Bot - https://www.expensebot.ai/accountant ProfitRoot - https://tryprofitroot.com/ 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 to...

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  • #502
    August 27 · 1 hr 3 min

    Rogue AI Agents, Off-Balance-Sheet AI Financing & Xerocon 2026

    AI agents are going rogue — deleting bookings, sending unauthorized emails, and lying about it — and Blake and David trace the trend into the $3 trillion of off-balance-sheet AI commitments hiding in Big Tech's footnotes (and why accountants will get blamed when the bubble pops). They also recap what stood out at XeroCon 2026. Then Hoover Institution fellow Ben Jaros runs the real numbers on California's Prop 40 billionaire wealth tax — why the $100 billion estimate is closer to $40 billion, and whether taxing 200 people is even constitutional. Sponsors Canopy - http://accountingpodcast.promo/canopy Thomson Reuters - http://accountingpodcast.promo/taxautomation OnPay - http://accountingpodcast.promo/onpay Cloud Accountant Staffing - http://accountingpodcast.promo/cas Chapters (00:00) - Welcome to The Accounting Podcast (03:00) - Rogue AI Agents Gone Wild (07:53) - Controlling Agent Permissions (12:08) - Microsoft AI Receivables Surge (14:49) - Three Trillion Off Book Commitments (17:09) - Meta Hyperion Lease Loopholes (21:33) - Bubble Risk and Circular Financing (28:24) - XeroCon Highlights and AI Agents (32:21) - Bank Reconciliation and Roadmap Gripes (34:10) - Conference Vaporware Rant (34:37) - Billionaire Tax Preview (36:33) - Prop 40 Basics (38:40) - Revenue Reality Check (42:44) - Residency Cutoff Drama (45:01) - Wealth Tax vs Income Tax (45:52) - One Time Or Not (46:34) - Healthcare Backfill Claims (51:42) - Better Ways To Tax (55:23) - Constitutional Challenges (58:01) - Why Voters Oppose It (01:02:09) - Trial Balloon And Wrap Up Show Notes Coming soon! Need CPE? Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com 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? Check out our new website - accountingconferences.com Limited edition shirts, stickers, and other necessities TeePublic Store: http://cloudacctpod.link/merch Subscribe Apple Podcasts: http://cloudacctpod.link/ApplePodcasts YouTube: https://www.youtube.com/@TheAccountingPodcast Spotify: http://cloudacctpod.link/Spotify Podchaser: http://cloudacctpod.link/podchaser Stitcher: http://cloudacctpod.link/Stitcher Overcast: http://cloudacctpod.link/Overcast Classifieds Flowglad - https://cal.com/team/flowglad/flowglad Fearless Foundry - www.advisoryamplified.com Expense Bot - https://www.expensebot.ai/accountant ProfitRoot - https://tryprofitroot.com/ 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 of this page

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  • #501
    August 19 · 1 hr 9 min

    NVIDIA AI Funding Deal Has "Shades of Enron" & EY Speeds Audits 125%+

    Is AI creating an audit boom—or hiding the next Enron-style risk? Blake and David unpack NVIDIA’s $500 billion data-center financing plan, why Michael Burry sees warning signs, and how AI is speeding up audits while challenging existing standards. They also cover improved PCAOB inspection results, the end of BOI reporting, Tether’s long-awaited audit, QuickBooks Live’s overhaul, and practical AI workflows small firms can use today. Sponsors Digits - http://accountingpodcast.promo/digits OnPay - http://accountingpodcast.promo/onpay Thomson Reuters - http://accountingpodcast.promo/taxautomation Cloud Accountant Staffing - http://accountingpodcast.promo/cas Chapters (00:00) - AI Biggest Audit Shift (01:35) - Headlines And Sponsors (02:20) - Digits AI Ledger (04:02) - Nvidia Deal Explained (06:31) - Enron Echoes And SPVs (09:46) - Bubble Risks And GAAP (12:31) - EY Audit Efficiency Claims (15:25) - PCAOB Reports Debate (17:40) - OnPay Payroll Sponsor (18:53) - FinCEN Ends BOI (19:52) - Audit AI Adoption Stats (21:08) - PCAOB Must Set AI Rules (25:52) - Quarterly Reporting Comments (29:17) - Tether Finally Audited (33:17) - Thomson Reuters Tax Automation (35:07) - Ancient Rome Tax Scam (38:45) - Why Tax Fraud Meant Death (39:18) - Clients Want AI Dashboards (39:45) - Small Firm AI Workflows (44:35) - Sponsor Cloud Staffing (45:49) - AI Raises Client Demands (46:27) - Audit Disruption Debate (48:35) - QuickBooks Live Rebrand (51:10) - Taiwan Receipt Lottery (54:40) - OnPay Benefits Upgrade (01:05:17) - Switch Payroll Midyear (01:09:19) - Wrap Up And CPE Show Notes 'Shades of Enron': Michael Burry shorts Nvidia as its $500 billion chip-financing deal fuels a bubble https://sg.finance.yahoo.com/news/nvidia-ai-push-echoes-enron-123355872.html EY leverages AI for audit https://www.accountingtoday.com/news/ey-leverages-ai-for-audit In ancient Rome, tax fraud was punishable by death https://www.popsci.com/science/tax-fraud-death-penalty-ancient-rome/ PCAOB inspection reports of largest audit firms show improvements https://www.accountingtoday.com/news/pcaob-inspection-reports-of-largest-audit-firms-show-improvements FinCEN ends beneficial ownership reporting https://www.accountingtoday.com/news/fincen-ends-beneficial-ownership-reporting Gartner Survey Finds Audit Teams' AI Use is Common, But Most Teams are Lacking Strategic Adoption and Application https://www.gartner.com/en/newsroom/press-releases/2026-08-10-gartner-survey-finds-audit-teams-ai-use-is-common-but-most It's Time for the US Audit Board to Set Corporate AI Standards https://news.bloombergtax.com/tax-insights-and-commentary/its-time-for-the-us-audit-board-to-set-corporate-ai-standards SEC quarterly earnings proposal draws flood of public complaints https://finance.yahoo.com/markets/stocks/articles/sec-quarterly-earnings-proposal-draws-112015106.html Firms (and Some Guy Obsessed With China) Have Weighed in on the PCAOB Turning an Eye to AI https://www.goingconcern.com/firms-and-some-guy-obsessed-with-china-have-weighed-in-on-the-pcaob-turning-an-eye-to-ai/ Tether says KPMG issued 'clean' opinion in first full audit of USDT issuer's financials https://www.coindesk.com/business/2026/08/13/tether-says-it-completed-long-promised-big-four-audit-of-finances-behind-usd180-billion-usdt-stablecoin Real-life ways small firms use AI https://www.journalofaccountancy.com/issues/2026/aug/real-life-ways-small-firms-use-ai/ QuickBooks Live is Dead, Long Live Intuit Experts https://uqb.show/154 Need CPE? Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com 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? Check out our new website - accountingconferences.com Limited edition shirts, stickers, and other necessities TeePublic Store: http://cloudacctpod.link/merch Subscribe Apple Podcasts: http://cloudacctpod.link/ApplePodcasts YouTube: https://www.youtube.com/@TheAccountingPodcast Spotify: http://cloudacctpod.link/Spotify Podchaser: http://cloudacctpod.link/podchaser Stitcher: http://cloudacctpod.link/Stitcher Overcast:

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  • #500
    August 13 · 1 hr 13 min

    PwC Cuts Disney & The Uncertain Career Path for CPAs

    What does episode 500 reveal about where accounting is headed? Blake Oliver and David Leary celebrate the milestone with CFO.com’s Adam Zaki and Going Concern’s Adrienne Gonzalez. They unpack AI’s pressure on billable hours, shrinking entry-level pathways, the changing route to CFO, and PwC’s canceled Disney intern event. Plus, Blake shares what happened after NASBA challenged his CPE comments. Sponsors OnPay - http://accountingpodcast.promo/onpay Canopy - http://accountingpodcast.promo/canopy Thomson Reuters - http://accountingpodcast.promo/taxautomation Cloud Accountant Staffing - http://accountingpodcast.promo/cas Chapters (00:00) - ‌ (00:20) - Episode 500 Kickoff (02:59) - Origin Story Live Chat (07:22) - Billable Hour Fading (13:36) - AI Knowledge vs Data Risk (16:21) - PwC Intern Disney Cut (24:31) - Pyramid to Diamond Firms (34:29) - CFO Pathway Disrupted (37:25) - AI Without Apprenticeship (38:55) - Would You Work for AI (39:47) - CFO Pipeline Shrinking (41:11) - Skipping Entry Level (43:15) - Simulations vs Real Work (45:05) - Metaverse Training Fail (47:35) - Crypto Fraud Irony (49:10) - Listener Milestones (51:58) - Billable Hour Debate (01:01:21) - AI Auditing Future (01:02:33) - NASBA Speech Clash (01:11:48) - Wrap Up and Thanks Show Notes CrossCountry Consulting's new co-CEOs say billable hour is 'waning' https://www.cfo.com/news/crosscountry-consulting-new-co-ceo-amy-bjarnason-neil-smith-discuss-their-industrys-future/826266/ Diamonds May Be a Firm's Best Strategy: How AI Is Rewriting the Structure of Modern Practice https://www.cpapracticeadvisor.com/2026/08/05/diamonds-may-be-a-firms-best-strategy-how-ai-is-rewriting-the-structure-of-modern-practice/188060/ Teikametrics CFO Brian Beaupre says the career path he took is disappearing https://www.cfo.com/news/teikametrics-cfo-brian-beaupre-says-the-career-path-he-took-is-disappearing-cfo-leadership-council-/824716/ The Age of Artificial Intelligence: Quinnipiac University Poll on AI https://poll.qu.edu/poll-release?releaseid=3955 We Went to the Boot Camp Where KPMG Teaches Auditors to Think Critically https://www.wsj.com/business/kpmg-summer-interns-auditing-ai-training-941ad5cc In Case You Didn't Hear, PwC Interns Won't Be Swarming Disney World This Year https://www.goingconcern.com/in-case-you-didnt-hear-pwc-interns-wont-be-swarming-disney-world-this-year/ Bitquery CEO Faces $5M Theft Claim, 194 Records Deleted https://www.analyticsinsight.net/news/bitquery-ceo-faces-5m-theft-claim-194-records-deleted Need CPE? Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com 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? Check out our new website - accountingconferences.com Limited edition shirts, stickers, and other necessities TeePublic Store: http://cloudacctpod.link/merch Subscribe Apple Podcasts: http://cloudacctpod.link/ApplePodcasts YouTube: https://www.youtube.com/@TheAccountingPodcast Spotify: http://cloudacctpod.link/Spotify Podchaser: http://cloudacctpod.link/podchaser Stitcher: http://cloudacctpod.link/Stitcher Overcast: http://cloudacctpod.link/Overcast Classifieds REFRAME 2026 - http://accountingpodcast.promo/reframe2026 Flowglad - https://cal.com/team/flowglad/flowglad 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 of this page

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  • #499
    August 4 · 57 min

    Grant Thornton to Acquire CBIZ & Trump Puts Immunity Over Blanche

    Could Grant Thornton’s $5 billion CBIZ deal create a Big Five? Blake and David unpack the private-equity-backed combination, what it means for accounting firm ownership, and why controller talent is still hard to find. They also examine AI’s effect on finance judgment—and why nearly half of Gen Z workers say it makes them less intelligent—plus tariff refunds, audit scrutiny, and rising software prices. Sponsors Cloud Accountant Staffing - http://accountingpodcast.promo/cas OnPay - http://accountingpodcast.promo/onpay Thomson Reuters - http://accountingpodcast.promo/taxautomation Veltrix - http://accountingpodcast.promo/veltrix Chapters (00:00) - TAP 499 (02:17) - Livestream and CPE Plug (03:12) - Grant Thornton Buys CBIZ (04:35) - Stock Spike and Activists (09:06) - PE Strategy and IPO Exit (11:09) - Deal Size vs Big Four (13:21) - Trump Immunity and Nominee (16:39) - EY Hack Claim Explained (18:56) - Trump Deal Appeal Update (21:37) - Controller Hiring Crunch (23:21) - Senior Pay Flattening (26:24) - Corporate Hiring Demand (27:59) - AI Boosts Finance Judgment (29:38) - Claude Transforms Forecasting (30:43) - Gen Z AI Dependency Fears (34:32) - Xero Price Hike Backlash (36:45) - Lovable Connector Moat (40:38) - Agents Use Existing SaaS (45:29) - Tariff Refund Windfall (48:20) - NYC Pied-a-Terre Tax (51:44) - PwC UK Audit Failures (55:03) - Wrap Up and Episode 500 Show Notes Grant Thornton Advisors to acquire CBIZ in $5 billion transaction https://www.cpapracticeadvisor.com/2026/07/29/grant-thornton-set-to-buy-cbiz-for-5-billion-become-5th-largest-firm-in-u-s/187542/ Accounting Firm CBIZ Urged by Activist Investor to Pursue M&A https://www.bloomberg.com/news/articles/2026-07-07/accounting-firm-cbiz-urged-by-activist-investor-to-pursue-m-a Trump floats pulling Blanche's AG nomination until after GOP holdouts leave office https://www.cnbc.com/2026/07/30/trump-blanche-ag-doj-cornyn-tillis.html Donald Trump's tax audit immunity remains in place as Blanche's path to confirmation is cleared https://www.reviewjournal.com/news/politics-and-government/as-blanches-path-to-confirmation-is-cleared-trumps-tax-audit-immunity-remains-in-place-3858601/ Ernst & Young data breach claimed by ShinyHunters extortion gang https://www.bleepingcomputer.com/news/security/ernst-and-young-data-breach-claimed-by-shinyhunters-extortion-gang/ 2026 Corporate Finance & Accounting Talent Research Study https://controllerscouncil.org/2026-corporate-finance-accounting-talent-research-study/ Accounting's missing middle https://www.accountingtoday.com/news/accountings-missing-middle A third of companies look to increase finance and accounting hires https://www.cfo.com/news/companies-look-to-boost-hiring-pay-for-finance-and-accounting-staff-controllers-council-report/824667/ AI's top value for finance now lies in improving judgment, not efficiency https://finance.yahoo.com/technology/ai/articles/ai-top-value-finance-now-085159658.html Nearly Half of Gen Z Workers Say AI is Making Them Less Intelligent https://www.cpapracticeadvisor.com/2026/05/19/nearly-half-of-gen-z-workers-say-ai-is-making-them-less-intelligent/183621/ Xero Announces U.S. Subscription Price Changes https://www.xero.com/us/pricing-plans/update/ Introducing the Lovable Xero connector: build on your Xero data, no code required https://devblog.xero.com/introducing-the-lovable-xero-connector-build-on-your-xero-data-no-code-required-386873b591bc We Peaked at 30 AI Agents. Now We're Coming Back Down to 20 https://www.saastr.com/we-peaked-at-30-ai-agents-now-were-coming-back-down-to-20-heres-what-consolidation-actually-looks-like-the-agents-011-live/ Amazon Got a $600 Million Tariff Refund, Some Going to Shoppers https://www.cnbc.com/2026/07/30/amazon-trump-tariff-refunds.html NYC Extends Deadline for Pied-à-Terre Tax Exemption Applications to Sept. 18 https://www.bloomberg.com/news/articles/2026-08-01/nyc-extends-deadline-for-second-home-levy-exemption-requests Staten Island Homeowners Say They Fear for Safety After Names, Addresses Published on NYC Tax List https://www.cpapracticeadvisor.com/2026/07/31/staten-island-homeowners-say-they-fear-for-safety-after-names-addresses-published-on-nyc-tax-list/187775/ PwC Fined $4.4 Million by UK Watchdog Over Babcock Audit Failures https://www.globalbankingandfinance.com/uk-financial-watchdog-fines-pwc-4-4-million-over-babcock/ New York Governor Trolls LeBron James with Tax on Rumored NYC Home https://www.cpapracticeadvisor.com/2026/07/31/new-york-governor-trolls-lebron-james-with-tax-on-rumored-nyc-home/187765/ Need CPE? Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com Subscribe to the Earmark Podcast: ...

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  • #498
    July 31 · 1 hr 1 min

    IRS Chief Spied on Colleagues & Out of Control AI

    Could an AI agent decide to hack a system, or cancel your software subscription just to complete its task? Blake and David examine reports of AI agents escaping guardrails, flooding IRS rulemaking with generated comments, and taking autonomous business actions. They also trace accounting from ancient clay tokens to today’s AI economy, exploring why calculating profit and trustworthy records matter more than ever. Sponsors Cloud Accountant Staffing - http://accountingpodcast.promo/cas The Value Builder System - http://accountingpodcast.promo/value OnPay - http://accountingpodcast.promo/onpay Veltrix - http://accountingpodcast.promo/veltrix Chapters (00:00) - Profit First Accounting (00:33) - Dumb Accounting AI (02:40) - AI Guest Pitch Email (07:21) - When Agents Go Rogue (09:38) - OpenAI Agent Hacks Out (11:57) - Waymo Laws And Goals (16:33) - IRS Chief Spy Claims (19:28) - AI Floods IRS Comments (23:30) - SaaStr AI Cancels SaaS (28:09) - Ode To Accounting Site (29:54) - Accounting Births Writing (31:24) - Double Entry Changes Everything (32:09) - Industrial Era Standards (33:29) - Internet Cloud And AI (34:19) - Hosts React Tokens Return (36:49) - Profit Cost Accounting And AI (39:33) - Round Tripping Explained (44:00) - IRS EIN Breakdown (46:19) - Trump Accounts Adoption (48:20) - Tax Leak Sentencing Debate (50:23) - KPMG Australia Shakeup (52:09) - QuickBooks MCP Workflows (55:52) - Intuit Card Versus Ramp (57:35) - Ramp Stablecoin And Token Spend (01:00:39) - Wrap Up And Where To Find Us Show Notes OpenAI and Hugging Face partner to address security incident during model evaluation https://openai.com/index/hugging-face-model-evaluation-security-incident/ Trump's IRS Chief Frank Bisignano Accused of Using Hi-Tech Software to Spy on Colleagues' Emails at JPMorgan https://www.thedailybeast.com/trumps-irs-chief-frank-bisignano-accused-of-using-hi-tech-software-to-spy-on-colleagues-emails-at-jpmorgan/ IRS blitzed with AI-generated comments on proposed tax rules https://www.accountingtoday.com/news/irs-blitzed-with-ai-generated-comments-on-proposed-tax-rules Your Agents Are About to Start Firing Your Vendors. Ours Fired Marketo. https://www.saastr.com/your-agents-are-about-to-start-firing-your-vendors-ours-fired-marketo/ Basis offers AI agents, love letters and an ode to accounting https://www.accountingtoday.com/news/basis-offers-ai-agents-love-letters-and-an-ode-to-accounting 7 Million Trump Accounts Have Been Opened, Administration Says https://www.cpapracticeadvisor.com/2026/07/29/7-million-trump-accounts-have-been-opened-administration-says/187586/ DC Circuit Denies Littlejohn Appeal and the Need for Privacy Protections Remains https://www.ntu.org/foundation/detail/dc-circuit-denies-littlejohn-appeal-and-the-need-for-privacy-protections-remains KPMG Australia appoints new CEO https://www.internationalaccountingbulletin.com/news/kpmg-australia-appoints-new-ceo/ KPMG Fires Former COO Eileen Hoggett Over Confidentiality Breach https://news.ssbcrack.com/kpmg-fires-former-coo-eileen-hoggett-over-confidentiality-breach/ QuickBooks Expands Into Claude and ChatGPT with New Features https://www.intuit.com/blog/news-social/quickbooks-expands-into-claude-and-chatgpt-with-new-sales-invoicing-payroll-and-lending-features/ Intuit Launches Business Credit Card That Brings Spend Management, Rewards, and Insights Together in QuickBooks https://investors.intuit.com/news-events/press-releases/detail/1316/intuit-launches-business-credit-card-that-brings-spend-management-rewards-and-insights-together-in-quickbooks Ramp Brings Stablecoin Accounts and Payments to All Customers https://www.prnewswire.com/news-releases/ramp-brings-stablecoin-accounts-and-payments-to-all-customers-302830447.html Ramp Launches AI Token Spend Controls https://www.prnewswire.com/news-releases/ramp-launches-ai-token-spend-controls-302827389.html Need CPE? Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com 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? Check out our new website - accountingconferences.com Limited edition shirts, stickers, and other necessities

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  • #497
    July 25 · 1 hr 7 min

    How Sam Leon Uses Claude Cowork to Prep Tax Returns 5x Faster

    Can one accountant really do tax prep five times faster with AI? Blake and David talk with Sam Leon, founder of The Millennial CPA, about how he uses Claude projects to turn client documents into tax workpapers, speed up review, and run a solo firm built around software. They also dig into where AI still falls short, why review remains the bottleneck, and what firms can realistically automate today. Sponsors Digits - http://accountingpodcast.promo/digits The Value Builder System - http://accountingpodcast.promo/value OnPay - http://accountingpodcast.promo/onpay Cloud Accountant Staffing - http://accountingpodcast.promo/cas Chapters (00:00) - Autonomous AI Reality Check (00:11) - Show Welcome and Interview Tease (00:55) - Sponsor Spotlight Digits (02:34) - Trump IRS Deal Dismissed (05:20) - California Billionaire Tax Fight (07:35) - New York Pied a Terre Tax (09:29) - Sponsor Spotlight Value Builder System (11:18) - Xero CEO Pay and Stock Sale (16:39) - Verification Tax and AI Jobs (22:06) - Sponsor Spotlight OnPay (23:21) - 1948 IBM Accounting Machine Lesson (29:56) - Sponsor Spotlight Cloud Accountant Staffing (31:07) - Meet Sam Leon Millennial CPA (32:01) - Solo Firm Vision (33:15) - From Big Firms to Millennial CPA (35:42) - Why AI Agents Weren’t Ready (37:19) - Automating Tax Prep Workflow (40:33) - Smart Intake for Better Scoping (43:06) - End to End Return Automation (46:04) - AI Workpapers and Review (49:38) - Claude Setup and Time Savings (58:18) - Tech Spend and Pricing Strategy (01:02:52) - Building TaxWeave Platform (01:06:21) - Wrap Up and CPE Info Show Notes Judge Smacks Down Trump's IRS Settlement And Orders Sanctions https://www.cnn.com/2026/07/13/politics/trump-irs-judge-ruling-settlement-sanctions Instead of Uniting the Left, California's Billionaire Tax Measure Has Split Democratic Allies https://www.cpapracticeadvisor.com/2026/07/08/instead-of-uniting-the-left-californias-billionaire-tax-measure-has-split-democratic-allies/186379/ NYC lawyers slam pied-a-terre tax as a half-baked money grab https://www.audacy.com/1010wins/news/local/nyc-lawyers-slam-pied-a-terre-tax-as-a-half-baked-money-grab A 1948 IBM computer with no memory at all, fed by punchcards, was still doing the accounting at a Texas filtration company as recently as 2020 https://scienceblog.com/t-1948-ibm-402-punchcards-sparkler-filters-accounting-2020/ Time saved by AI partially canceled out by time spent checking AI https://www.accountingtoday.com/news/time-saved-by-ai-partially-cancelled-out-by-time-spent-checking-ai Research Suggests Jobs May be Safer at Companies that Embrace AI https://www.cpapracticeadvisor.com/2026/07/07/research-suggests-jobs-may-be-safer-at-companies-that-embrace-ai/186281/ AI Is No Longer Just a Tech Occupation Story: It's Spreading Across Job Titles in the US and Europe https://www.hiringlab.org/2026/07/08/ai-is-no-longer-just-a-tech-occupation-story/ The 2026 Best Accounting Firms for Technology https://www.accountingtoday.com/list/the-2026-best-accounting-firms-for-technology Need CPE? Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com Meet Our Guest, Sam Leon, CPA LinkedIn: https://www.linkedin.com/in/samuelaaronleon/ Website: https://www.millennialcpa.tax/ Website: https://www.taxweave.ai/ 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? Check out our new website - accountingconferences.com Limited edition shirts, stickers, and other necessities TeePublic Store: http://cloudacctpod.link/merch Subscribe Apple Podcasts: http://cloudacctpod.link/ApplePodcasts YouTube: https://www.youtube.com/@TheAccountingPodcast Spotify: http://cloudacctpod.link/Spotify Podchaser: http://cloudacctpod.link/podchaser Stitcher: http://cloudacctpod.link/Stitcher Overcast: http://cloudacctpod.link/Overcast Classifieds REFRAME 2026 - http://accountingpodcast.promo/reframe2026 Flowglad - https://cal.com/team/flowglad/flowglad 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 classi...

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  • #496
    July 17 · 1 hr 2 min

    How Much Will World Cup Players Pay in Taxes & Xero's New AI Agent Builder

    What do World Cup taxes, AI-built accounting tools, and remote work have in common? In this episode, Blake and David unpack how tax rules hit global athletes and sports bettors, why Xero’s new AI products signal a shift toward accountants building their own software, and where firms still face risk with audit standards, cybersecurity, and homegrown apps. You’ll also hear what’s really happening with remote work and a listener correction on Trump accounts. Sponsors Canopy - http://accountingpodcast.promo/canopy OnPay - http://accountingpodcast.promo/onpay The Value Builder System - http://accountingpodcast.promo/value Cloud Accountant Staffing - http://accountingpodcast.promo/cas Chapters (00:00) - Cold Open and Welcome (00:27) - World Cup Chat Setup (04:04) - World Cup Player Taxes (06:58) - Betting and Prediction Taxes (09:47) - Xerocon London Highlights (12:58) - Xero Ultra Midmarket Push (15:31) - Xero Force Agent Builder (20:56) - More Xero Updates (23:22) - App News Canopy Close (26:13) - TaxDome Kiosk In Person (27:34) - Rippling Banking Payroll (29:37) - Exit Readiness Pitch (30:30) - AI Audits Need Rules (32:40) - QC 1000 Rollbacks (35:58) - CBIZ Activist Pressure (39:04) - Vibe Coding Boom (40:41) - DIY Tools Hidden Risks (48:05) - WISP Versus Security (48:57) - Remote Work Reality (50:13) - AI Usage Cost Chaos (54:13) - Trump Accounts Correction (58:23) - AI Handles CPE Reporting (01:01:13) - CPE Plug And Farewell Show Notes World Cup players face tax penalties https://www.accountingtoday.com/news/world-cup-players-face-tax-penalties How Much Will World Cup Players Pay in Taxes? In 2026, FIFA is the Real Winner https://www.cpapracticeadvisor.com/2026/07/06/fifa-is-the-real-winner-of-the-2026-world-cup/186247/ World Cup Betting Tax Rules Differ for Prediction Markets, Sportsbooks https://www.bloomberg.com/news/articles/2026-07-12/world-cup-betting-tax-rules-differ-for-prediction-markets-sportsbooks Xero CEO on AI, the builder class and Xero at 20 https://www.accountingweb.co.uk/tech/tech-pulse/xero-ceo-on-ai-the-builder-class-and-xero-at-20 How we're building Xero to scale with growing businesses https://blog.xero.com/product-updates/xero-ultra-launch-scaling-businesses/ Introducing XeroForce: Your no code custom AI agent builder for financial workflows https://blog.xero.com/news-events/introducing-xeroforce-ai-agent-builder/ Paying your bills just got cheaper: Standard ACH is now free in Xero https://blog.xero.com/product-updates/paying-your-bills-just-got-cheaper-standard-ach-is-now-free-in-xero/ Xerocon London 2026: The Agentic Era Has Arrived for Small Business Finance https://blog.xero.com/product-updates/xerocon-london-2026-agentic-era-small-business-finance/ TaxDome Launches Kiosk: The In-Person Client Experience, Now Digitally Integrated https://www.cpapracticeadvisor.com/2026/06/09/taxdome-launches-kiosk-the-in-person-client-experience-now-digitally-integrated/184868/ Rippling Launches Business Banking https://www.cpapracticeadvisor.com/2026/06/23/rippling-launches-business-banking/185574/ MindBridge urges clearer PCAOB guidance on AI audits https://itbrief.co.uk/story/mindbridge-urges-clearer-pcaob-guidance-on-ai-audits PCAOB Issues Proposed Amendments to QC 1000 and Seeks Public Comment https://pcaobus.org/news-events/news-releases/news-release-detail/pcaob-issues-proposed-amendments-to-qc-1000-and-seeks-public-comment Restarting the M&A Flywheel — CBIZ, Inc. https://cbizflywheel.com/ Starbucks starts vibe coding enterprise stack https://www.semafor.com/article/07/09/2026/starbucks-starts-vibe-coding-enterprise-stack Software vendors aren't losing sleep over vibe-coding — yet https://www.accountingtoday.com/news/software-vendors-arent-losing-sleep-over-vibe-coding-yet Most accounting firms can be impersonated by email – we checked 275 of them https://www.accountantsdaily.com.au/business/22638-most-accounting-firms-can-be-impersonated-by-email-we-checked-275-of-them Despite return-to-office crackdowns, remote work is alive and well as the rate has barely changed over the last two years https://fortune.com/2026/07/05/remote-work-data-shows-hybrid-and-flexible-work-arrangements-are-here-to-stay-census-data/ AI bills are baffling the C-suite after shift to usage-based pricing https://www.theregister.com/ai-and-ml/2026/07/03/ai-bills-are-baffling-the-c-suite-after-shift-to-usage-based-pricing/5266383 Need CPE? Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com Get in Touch Thanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @Dav...

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  • #495
    July 8 · 58 min

    Aussies Want to Break up Big Four & Trump Accounts Go Live on the 4th

    What if one tax break could give your child a head start or hand them a pile of money at 18? Blake and David unpack the new Trump accounts, who should use them, and why advisors are split. They also dig into Australia’s latest Big Four scandal, worsening IRS service, AI’s growing role in tax and training, and what these shifts mean for accountants, firms, and clients. Sponsors OnPay - http://accountingpodcast.promo/onpay Canopy - http://accountingpodcast.promo/canopy The Value Builder System - http://accountingpodcast.promo/value Cloud Accountant Staffing - http://accountingpodcast.promo/cas Chapters (00:00) - TAP 495 (01:40) - Sponsor Break OnPay (03:11) - Trump Accounts Basics (04:39) - Risks Versus 529 Plans (08:46) - Roth Conversion Strategy (11:27) - Big Four Scandals Australia (15:02) - Sponsor Break Canopy (16:26) - Coca-Cola Transfer Pricing Fight (21:38) - IRS Data Sharing Mess (23:41) - Tax Season Report Card (26:25) - IRS Help Centers Secret Shop (28:31) - Sponsor Break Value Builder (29:47) - IRS Chatbots Gone Wrong (30:36) - IRS Chatbot Failures (31:37) - Nonprofit Enforcement Push (33:29) - Is Nonprofit Fraud Real (36:27) - Sponsor Cloud Staffing (37:46) - California Billionaire Tax (42:01) - Florida Property Tax Shakeup (45:56) - AI Changes Teamwork (49:12) - AI Automates CPE Reporting (52:17) - KPMG Tax Training Simulator (56:15) - Accounting Firms Robbed (57:10) - Wrap Up and CPE Plug Show Notes Why advisors do and don't recommend Trump accounts https://www.accountingtoday.com/news/why-advisors-do-and-dont-recommend-trump-accounts The Trump Accounts rollout is the biggest advisory opportunity most accountants are missing https://www.accountingtoday.com/opinion/the-trump-accounts-rollout-is-the-biggest-advisory-opportunity-most-accountants-are-missing Australia weighs break-up of Big Four accounting firms after scandals https://www.investing.com/news/stock-market-news/australia-weighs-breakup-of-big-four-accounting-firms-after-scandals-4769425 EY staffer fired after allegedly accessing Prime Minister's bank account https://www.cyberdaily.au/security/13847-ey-staffer-fired-after-allegedly-accessing-prime-minister-s-bank-account Coca-Cola Meets Sympathetic Judges in $20 Billion IRS Case https://news.bloombergtax.com/daily-tax-report/coca-cola-meets-sympathetic-judges-in-transfer-pricing-dispute TIGTA: IRS Has Data-Sharing Pacts with Over 1,120 Organizations, Some of Which It Can't Identify https://www.cpapracticeadvisor.com/2026/07/06/tigta-irs-has-data-sharing-pacts-with-over-1120-organizations-some-of-which-it-cant-identify/186216/ National Taxpayer Advocate issues 2026 mid-year report to Congress https://www.irs.gov/newsroom/national-taxpayer-advocate-issues-2026-mid-year-report-to-congress IRS Taxpayer Assistance Centers provided wrong answers to tax questions https://www.accountingtoday.com/news/irs-taxpayer-assistance-centers-provided-wrong-answers-to-tax-questions IRS chatbot results may be wrong https://www.accountingtoday.com/news/irs-chatbot-results-may-be-wrong IRS gives tax-exempt groups closer scrutiny https://www.accountingtoday.com/news/irs-gives-tax-exempt-groups-closer-scrutiny 2026 California billionaire tax initiative https://en.wikipedia.org/wiki/2026_California_billionaire_tax_initiative Semantic schism: Ron DeSantis rebukes Wall Street Journal jab at 'progressive' property tax measure https://floridapolitics.com/archives/801396-desantis-wsj-progressive/ KPMG Turns to AI Simulations to Replace Years of Repetitive Tax Training as Automation Reshapes White-Collar Work https://www.tekedia.com/kpmg-turns-to-ai-simulations-to-replace-years-of-repetitive-tax-training-as-automation-reshapes-white-collar-work/ Three suspects sought after accounting firm robbery in Markham https://www.cp24.com/news/2026/06/30/three-suspects-sought-after-accounting-firm-robbery-in-markham/ Need CPE? Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com 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? Check out our new website - accountingconferences.com Limited edition shirts, stickers...

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  • #494
    July 6 · 56 min

    Fake AI Receipt Fraud Soars & Big Firms Losing Power

    Are fake AI receipts becoming the next big headache for finance teams? Blake Oliver and David Leary unpack the surge in AI-generated expense fraud, why tax pros are rapidly adopting AI research tools, and how firms are using AI to automate month-end close and revenue recognition. They also cover NASBA’s response to criticism, Intuit’s renewed focus on accountants, and the implications of private equity and a shifting work culture for the future of accounting firms. Sponsors Cloud Accountant Staffing - http://accountingpodcast.promo/cas The Value Builder System - http://accountingpodcast.promo/value OnPay - http://accountingpodcast.promo/onpay Chapters (00:00) - AI Tax Research Surge (00:23) - Show Intro and Lead Story (02:11) - AI Receipt Fraud Explodes (04:42) - Fraud Types and Detection (06:32) - Vibe Coding Goes Mainstream (10:19) - Claude for Rev Rec Workpapers (11:48) - NASBA Letter Follow Up (17:38) - Earmark CPE and New Audit Show (20:08) - Intuit Courts Accountants (23:04) - AI in Tax and IRS Guidance (28:45) - Hourly Billing Debate (29:10) - Disclosing AI Use (29:36) - NASBA Free Speech Question (31:34) - Customer Focus vs Regulation (35:52) - AI Close Tools Meridian (37:38) - DIY Agents for Accounting (39:20) - Claude Builds Rev Rec (44:46) - Eide Bailly Takes PE (48:06) - Big Firms Losing Control (53:01) - PE Meets Culture Shift (53:55) - Wrap Up CPE and Pricing Show Notes Use of AI receipts in expense fraud soars https://www.accountingtoday.com/news/use-of-ai-receipts-in-expense-fraud-soars The future of the ecosystem: Is everyone a developer now? https://devblog.xero.com/the-future-of-the-ecosystem-is-everyone-a-developer-now-f3899ddf0b24 Blue J and CPA.com Survey Finds AI Adoption Among Tax Firms Has Nearly Doubled in One Year https://www.cpa.com/news/blue-j-and-cpacom-survey-finds-ai-adoption-among-tax-firms-has-nearly-doubled-one-year IRS rolls out introductory AI guidelines for tax practitioners https://www.accountingtoday.com/news/irs-rolls-out-introductory-ai-guidelines-for-tax-practitioners IRS electronic tax advisory committee recommends AI and preparer safeguards https://www.accountingtoday.com/news/irs-electronic-tax-advisory-committee-recommends-ai-and-preparer-safeguards The end of hourly billing Ignition's 2025 benchmark signals pricing shift for firms https://www.ignitionapp.com/news/the-end-of-hourly-billing-ignitions-2025-benchmark-signals-pricing-shift-for-firms Intuit CEO to accountants You are the customer not a channel https://www.accountingtoday.com/news/intuit-ceo-to-accountants-you-are-the-customer-not-a-channel Pilot Launches Meridian The AI Platform That Fully Closes the Books for Accounting Firms https://www.globenewswire.com/news-release/2026/06/16/3312500/0/en/pilot-launches-meridian-the-ai-platform-that-fully-closes-the-books-for-accounting-firms.html Kinter.ai Launches Agentic AI Accountants to Automate The Financial Close https://www.prnewswire.com/news-releases/kinterai-launches-agentic-ai-accountants-to-automate-the-financial-close-302807330.html Eide Bailly Advances Growth Strategy and Client Service Commitment Through Investment from Reverence Capital Partners https://www.eidebailly.com/insights/firm-news/2026/reverence-capital-partners-investment With 1.8 Billion Dollar Deal Eide Bailly Set for Explosive Growth https://cpatrendlines.com/2026/06/25/with-1-8-billion-deal-eide-bailly-set-for-explosive-growth/ Losing Control The Erosion of Disciplinary and Pastoral Power in Accounting Firms https://onlinelibrary.wiley.com/doi/10.1111/1911-3846.70028 Need CPE? Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com 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? Check out our new website - accountingconferences.com Limited edition shirts, stickers, and other necessities TeePublic Store: http://cloudacctpod.link/merch Subscribe Apple Podcasts: http://cloudacctpod.link/ApplePodcasts YouTube: https://www.youtube.com/@TheAccountingPodcast Spotify: http://cloudacctpod.link/Spotify Podchaser: http://cloudacctpod.link/podchaser Stitcher:

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  • #493
    June 26 · 1 hr

    KPMG Withdraws AI Report Full of "Vibe Citations"

    Can AI really clean up messy bookkeeping—and what happens when firms trust it too much? Blake and David break down KPMG’s error-filled AI report, the Pentagon’s new “Agentic Auditor,” and State Farm’s move to tie agent pay to AI. Blake also shares how he used Claude to complete two years of write-up work in hours, with practical lessons on where AI helps, where it fails, and why human review still matters. Sponsors Canopy - http://accountingpodcast.promo/canopy The Value Builder System - http://accountingpodcast.promo/value OnPay - http://accountingpodcast.promo/onpay Chapters (00:00) - TAP 493 (02:20) - KPMG AI Report Scandal (04:01) - GPTZero Findings Breakdown (05:16) - Hallucinated Case Studies (07:18) - Pentagon Turns to AI Audits (08:33) - Microsoft Copilot Cowork Launch (10:09) - Claude Cowork Write Up Win (15:22) - Recon Fixes and Loan Discovery (20:48) - Future of Agentic Accounting (24:06) - Livestream Q and A TaxGPT (27:01) - AI Review and Human Loop (28:38) - QuickBooks AI Gripe Vibe Coding (31:15) - OnPay Payroll Pitch (32:10) - CPA Fees Rising (33:58) - State Farm AI Agents (37:09) - SpaceX IPO Accounting (39:31) - Musk Disclosure Shift (41:02) - Quarterly Reporting Debate (46:31) - Celebrity Accountant Fraud (50:52) - KPMG Summer Perk Cut (52:24) - Intuit Humanizing AI (55:22) - IRS Data Shared With ICE (57:56) - CPE And Farewell Show Notes Chasing the Hallucinations: KPMG's AI-Powered Attempt at "Redefining Excellence" https://gptzero.me/news/investigations-kpmg/ KPMG's AI report becomes an accidental demo of AI hallucinations https://www.theregister.com/ai-and-ml/2026/06/12/kpmgs-ai-report-turns-into-a-demo-of-ai-hallucinations/5255029 Pentagon turns to AI in push for clean financial audit by 2028 https://www.stripes.com/theaters/us/2026-06-11/pentagon-audit-ai-contract-21941885.html Copilot Cowork is now generally available https://www.microsoft.com/en-us/microsoft-365/blog/2026/06/16/copilot-cowork-is-now-generally-available/ Tax Prep Billing Rates Lift Busy Season 2026 https://cpatrendlines.com/2026/04/14/tax-prep-emerges-from-busy-season-2026-as-the-new-engine-for-billing-rates/ State Farm overhauls agent contracts, mandates AI use https://finance.yahoo.com/technology/ai/articles/state-farm-overhauls-agent-contracts-115756712.html SpaceX CFO Bret Johnsen quietly engineered its historic IPO and became an overnight billionaire https://fortune.com/2026/06/13/spacex-cfo-bret-johnsen-overnight-billionaire-ipo/ SpaceX CFO Bret Johnsen joins billionaire ranks after $75B IPO: Trial Balance https://www.cfo.com/news/spacex-cfo-bret-johnsen-joins-billionaire-ranks-after-ipo-trial-balance/822848/ Investors oppose semiannual reporting, says poll https://www.accountingtoday.com/news/investors-oppose-semiannual-reporting-says-poll CFA Institute Investor Perspectives: Quarterly Reporting 2026 https://rpc.cfainstitute.org/sites/default/files/docs/research-reports/investor-perspectives-quarterly-reporting-2026.pdf The Global Freelancer Pay Gap Report https://www.remitly.com/us/en/landing/global-freelancer-pay-gap Nick Cannon's Business Accountant Allegedly Embezzles $2 Million, Flees U.S. https://www.tmz.com/2026/05/08/nick-cannon-business-manager-embezzled-millions/ KPMG scraps summer early Friday finish for staff https://www.cityam.com/kpmg-scraps-summer-early-friday-finish-for-staff/ Intuit hires Mother to humanize the QuickBooks maker's AI pitch https://adage.com/agencies/accounts-in-review/aa-intuit-hires-mother-as-creative-strategy-partner/ After issuing more than $20 billion in tariff refunds, the Trump administration is now pursuing legal action to bring the process to a standstill https://fortune.com/2026/06/01/trump-administration-plan-appeal-illegal-ieepa-tariff-universal-refunds/ IRS gave 47,000 taxpayers' addresses to ICE https://www.accountingtoday.com/news/irs-gave-47-000-taxpayers-addresses-to-ice Need CPE? Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com 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? Check out our new website - accountingconferences.com Limited edition shirts, stickers, and o...

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  • #492
    June 18 · 1 hr 8 min

    AICPA Says By 2040 Compliance Will Be Automated

    Will AI really automate most accounting work by 2040? Blake and David unpack what they heard at AICPA Engage, from deterministic AI agents and rising accounting enrollment to private equity’s growing influence on firms. Plus, Blake shares an exclusive interview with FICPA CEO Shelly Weir on Florida’s fight to protect CPA licensure. Listen to understand where the profession is heading—and what accountants may need to do next. Sponsors Digits - http://accountingpodcast.promo/digits OnPay - http://accountingpodcast.promo/onpay Savant Labs - http://accountingpodcast.promo/savant R.E. Cost Seg - http://accountingpodcast.promo/recostseg Chapters (00:00) - Cash Stolen In Bay Ridge (00:27) - Podcast Welcome Back (02:58) - Engage Conference Takeaways (03:58) - Hidden Vibe Coding (07:50) - Rise 2040 Automation Report (10:47) - Human In The Lead Debate (15:09) - Top Firm Concerns 2026 (18:29) - OpenAI Finance Team Lean (21:52) - Enrollment Up And CPA Pathways (25:19) - 7000 Cash Theft Revisited (26:52) - KPMG Whistleblower Scandal (28:33) - Crowe Gets 3B PE Deal (30:07) - Red Lobster AI Conspiracy (31:30) - PE Cross Selling Risks (33:39) - CPA Trust Campaign Launch (36:17) - Florida Licensure Threat (37:14) - Why Shelly Stayed Quiet (39:13) - What The Bill Proposed (43:28) - Why Deregulation Happened (45:46) - How FICPA Stopped It (48:46) - Mobility And Modernization (01:00:04) - CPE And Future Battles (01:03:59) - Wrap Up And Next Steps Show Notes Man Accused of Stealing $7K from Accounting Firm in Brooklyn https://pix11.com/news/local-news/brooklyn/man-accused-of-stealing-7k-from-accounting-firm-in-brooklyn-nypd/ AICPA and CIMA Launch Rise2040: Shaping the Future of Finance and Accounting https://www.aicpa-cima.com/news/article/aicpa-and-cima-launch-rise2040-shaping-the-future-of-finance-and-accounting The AICPA Asks: Are You Ready for Accounting in 2040? https://www.accountingtoday.com/news/the-aicpa-asks-are-you-ready-for-accounting-in-2040 OpenAI CFO Sarah Friar Offers a Look Inside the Company's Finance Function https://www.cfo.com/news/openai-cfo-sarah-friar-offers-a-look-inside-the-companys-finance-function/822545/ Accounting Undergrad Enrollment Up 9% https://www.accountingtoday.com/news/accounting-undergrad-enrollment-up-9 3 More States Pass CPA Pathways Legislation https://www.cfodive.com/news/3-more-states-pass-cpa-pathways-bills-accounting/821649/ A Master's Degree Isn't the Job Guarantee It Used to Be https://www.wsj.com/articles/a-masters-degree-isnt-the-job-guarantee-it-used-to-be KPMG Secretly and Repeatedly Accessed a Whistleblower's Computer, Then Shared the Files with Its CEO https://thenextweb.com/news/kpmg-accessed-whistleblower-computer Crowe Gets PE Investment from KKR https://www.accountingtoday.com/news/crowe-gets-pe-investment-from-kkr 57% Say PE Threatens the CPA Brand. But They'll Take the Money. https://cpatrendlines.com/2026/06/09/cpa-pe-deal-tracker-57-say-pe-threatens-the-cpa-brand-but-theyll-take-the-money/ Red Lobster's CEO Says He's Going to Transform the Chain into 'The Most AI-Forward Restaurant Company That Exists' https://finance.yahoo.com/sectors/technology/articles/red-lobsters-ceo-says-hes-153500558.html Stephano Slack Scores PE Funding https://www.accountingtoday.com/news/stephano-slack-scores-pe-funding Need CPE? Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com 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? Check out our new website - accountingconferences.com Limited edition shirts, stickers, and other necessities TeePublic Store: http://cloudacctpod.link/merch Subscribe Apple Podcasts: http://cloudacctpod.link/ApplePodcasts YouTube: https://www.youtube.com/@TheAccountingPodcast Spotify: http://cloudacctpod.link/Spotify Podchaser: http://cloudacctpod.link/podchaser Stitcher: http://cloudacctpod.link/Stitcher Overcast: http://cloudacctpod.link/Overcast Classifieds REFRAME 2026 - http://accountingpodcast.promo/reframe2026 Flowglad -

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  • #491
    June 10 · 1 hr 1 min

    AI Beats Humans at Bookkeeping & Powers Finance Team of One

    Can AI now do bookkeeping better than humans? Blake and David dig into new data showing major AI models outperforming outsourced accountants on basic transaction coding, then explore what that means for firms, finance teams, and the future of audit. They also cover a one-person finance team powered by AI agents, KPMG’s scramble to keep up, and why the accounting talent shortage still isn’t going away. Sponsors OnPay - http://accountingpodcast.promo/onpay The Value Builder System - http://accountingpodcast.promo/value R.E. Cost Seg - http://accountingpodcast.promo/recostseg Chapters (00:00) - TAP 491 (00:38) - Top stories preview (03:23) - OnPay support story (04:08) - Finance team of one (06:49) - LLMs vs humans benchmarks (09:15) - Ramp Stack agents (13:04) - Digits interview begins (19:55) - Outcome pricing and skills (28:05) - Livestream Q&A reactions (29:27) - Future of audit Oath (30:29) - Oath AI Audit Vision (31:46) - Continuous Audit Workflow (32:21) - Business Model Debate (33:02) - Big Four On Alert (33:07) - Accounting Engineer Hiring (33:47) - KPMG Courts AI Startups (35:15) - Talent Shortage Worsens (36:31) - Why Seniors Are Scarce (39:55) - Ramp Stack AI Agents (47:14) - Procurement Agents And Valuation (48:50) - KPMG Token Maxing Dashboard (52:31) - KPMG Australia Fallout (54:45) - Trump Tax Settlement Update (56:14) - IRS Leadership Vacuum (59:28) - Wrap Up And Earmark News Show Notes Digits "Beyond the AI Hype" Benchmark — AI Models Now Beat Human Accountants https://blog.insightfulaccountant.com/digits-releases-latest-edition-of-their-beyond-the-ai-hype-benchmark Ramp Launches Stack, an AI Operating System for Accounting Firms https://www.prnewswire.com/news-releases/ramp-launches-stack-an-ai-operating-system-for-accounting-firms-302789630.html Ramp Launches Fleet of AI Agents Across Its Procurement Platform https://www.prnewswire.com/news-releases/ramp-launches-fleet-of-ai-agents-across-its-procurement-platform-302756657.html Ramp Raises $750 Million Series F at $44 Billion Valuation https://www.prnewswire.com/news-releases/ramp-raises-series-f-at-44-billion-valuation-302791103.html Accounting Talent Shortage Surges — Accounting Today https://www.accountingtoday.com/news/accounting-talent-shortage-surges Ex-PCAOB Regulator Joins AI Audit Startup Oath Targeting 80% Automation https://thefinancestory.com/ex-pcaob-regulator-joins-ai-native-audit-firm-oath KPMG Exploring Start-Up Deals in Silicon Valley to Counter AI Threat — Financial Times https://www.internationalaccountingbulletin.com/news/kpmg-exploring-start-up-deals/ KPMG Sets 75% AI Usage Target with New Dashboard, Employees Flag It's Easy to Game — Business Insider https://www.aol.com/articles/kpmg-now-dashboard-where-consultants-154532433.html Amazon Shuts Down Internal AI Leaderboard After Employees Inflate Usage via Tokenmaxxing https://www.hcamag.com/us/specialization/hr-technology/amazon-shuts-down-ai-leaderboard-after-tokenmaxxing/577189 KPMG Australia CEO Andrew Yates Resigns Amid Whistleblower Scandal https://www.internationalaccountingbulletin.com/news/kpmg-australia-ceo-andrew-yates-resigns-amid-whistleblower-scandal/ Trump Administration Drops $1.8 Billion Anti-Weaponization Fund — Todd Blanche Testimony https://www.cnbc.com/2026/06/02/doj-fund-trump-todd-blanche.html Bessent Says He Is Performing IRS Commissioner Duties Amid Trump Tax Settlement Scrutiny https://www.cnbc.com/2026/06/03/bessent-irs-commissioner-trump-tax-settlement-doj-fund.html Need CPE? Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com 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? Check out our new website - accountingconferences.com Limited edition shirts, stickers, and other necessities TeePublic Store: http://cloudacctpod.link/merch Subscribe Apple Podcasts: http://cloudacctpod.link/ApplePodcasts YouTube: https://www.youtube.com/@TheAccountingPodcast Spotify: http://cloudacctpod.link/Spotify Podchaser: http://cloudacctpod.link/podchaser Stitcher: http://cloudacctpod.link/Stitcher Overcast: http://cloudacctpod.link/Overcast<...

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  • #490
    June 5 · 1 hr 5 min

    What CBIZ Means for PE, Starbucks Kills Off AI Inventory Counting

    Is private equity betting on the wrong accounting firms? Blake and David break down CBIZ’s stock slide, why investors may be losing faith in the traditional firm model, and how AI could help smaller firms compete far above their size. They also cover Starbucks ditching AI inventory counts, Microsoft reining in AI tool costs, and what all of it means for accountants navigating automation, pricing, and the future of firm growth. Sponsors Canopy - http://accountingpodcast.promo/canopy OnPay - http://accountingpodcast.promo/onpay C&R Consulting - http://accountingpodcast.promo/cnr Maxima.AI - http://accountingpodcast.promo/maxima Chapters (00:00) - TAP 490 (02:53) - CBIZ Stock Slide (06:13) - AI Threat to Firm Models (11:32) - EisnerAmper Anti AI Take (15:42) - Livestream Shoutouts (16:13) - New England CPA Society Merge (20:42) - Starbucks Kills AI Inventory (23:34) - NASBA Exam Data Mess (26:34) - Phoenix Call Center Jobs and AI (28:36) - Will AI Really Kill Jobs (31:09) - Spreadsheets Then AI Now (33:07) - Automation Enables CFO Services (35:08) - Microsoft AI Token Shock (36:31) - Managing Token Spend (39:27) - AI Architect Role (43:36) - Trump IRS Settlement Reopened (45:04) - Beneficial Ownership Bill (45:52) - Newsom 100% Tax Threat (46:57) - KPMG Australia Whistleblower (49:35) - Xero Force No Code Agents (54:03) - Xero Earnings Melio Impact (59:03) - Vibe Coding Real Examples (01:02:35) - Wrap Up Earmark CPE Show Notes What Can We Learn from CBIZ? https://www.accountingtoday.com/opinion/what-can-we-learn-from-cbiz EisnerAmper on Accounting for AI https://www.privatefundscfo.com/eisneramper-on-accounting-for-ai/ State Societies Merge to Form New England Society of CPAs https://www.accountingtoday.com/news/state-societies-merge-to-form-new-england-society-of-cpas Starbucks Kills Off Its Automated Counting AI Tool After Just 9 Months https://www.goingconcern.com/starbucks-kills-off-its-automated-counting-ai-tool-after-just-9-months-because-it-sucked-at-counting/ NASBA's CPA Exam Reporting Problems Are Improving, But Not Solved https://www.accountingtoday.com/opinion/nasbas-cpa-exam-reporting-problems-are-improving-but-not-solved Phoenix Built an Empire of Cubicle Jobs. AI Is Coming to Tear It Down. https://www.wsj.com/economy/jobs/phoenix-jobs-ai-call-centers-1ca1c3b3 Why the A.I. Job Apocalypse (Probably) Won't Happen https://www.nytimes.com/2026/05/03/opinion/ai-jobs-unemployment.html Microsoft Cut Its Engineers Off from AI Because the Bill Got Too Big https://fortune.com/2026/05/22/microsoft-ai-cost-problem-tokens-agents/ Does Your Firm Need an AI Architect? https://www.accountingtoday.com/opinion/does-your-firm-need-an-ai-architect Judge Reopens Trump's $10 Billion IRS Lawsuit https://www.notus.org/donald-trump/trump-irs-suit-investigate-collusion Newsom Vows California Will Impose 100% Tax on Trump's Anti-Weaponization Fund https://abc7.com/post/newsom-vows-california-will-impose-100-tax-trumps-18-billion-anti-weaponization-fund/19188298/ AICPA Backs Bill Limiting Beneficial Ownership Reporting https://www.accountingtoday.com/news/aicpa-backs-bill-limiting-beneficial-ownership-reporting KPMG Australia CEO Andrew Yates Resigns Amid Whistleblower Scandal https://www.internationalaccountingbulletin.com/news/kpmg-australia-ceo-andrew-yates-resigns-amid-whistleblower-scandal/ Xero FY26 Result: Revenue Surges 31% but Profit Dips Due to Melio Acquisition Costs https://www.fool.com.au/2026/05/14/xero-fy26-result-revenue-surges-31-but-profit-dips-due-to-melio-acquisition-costs/ Need CPE? Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com 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? Check out our new website - accountingconferences.com Limited edition shirts, stickers, and other necessities TeePublic Store: http://cloudacctpod.link/merch Subscribe Apple Podcasts: http://cloudacctpod.link/ApplePodcasts YouTube: https://www.youtube.com/@TheAccountingPodcast Spotify: http://cloudacctpod.link/Spotify Podchaser:

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  • #489
    May 29 · 53 min

    Intuit Stock Gets Hammered & Trump's Wild IRS Settlement

    Is AI about to break the billable hour? Blake and David unpack what they heard at a major AI tax summit, where new tools promise to prepare complex returns in minutes instead of hours. They also debate Intuit’s stock slide, Trump’s extraordinary IRS settlement, and what shrinking oversight at the PCAOB could mean. You’ll hear where AI is already changing accounting—and where humans still matter most. Sponsors Cloud Accountant Staffing - http://accountingpodcast.promo/cas The Value Builder System - http://accountingpodcast.promo/value OnPay - http://accountingpodcast.promo/onpay Maxima. AI - http://accountingpodcast.promo/maxima Chapters (00:00) - TAP 489 (02:24) - Blackor AI Tax Summit (03:14) - AI Agents Disrupt Tax (07:16) - Billable Hour Pressure (09:00) - Advisory Future Forecast (10:14) - Intuit Stock Shock (12:29) - TurboTax vs Tax Pros (17:31) - Intuit Layoffs Strategy (20:04) - Trump IRS Settlement (24:59) - PCAOB SEC Shakeup (27:33) - OnPay Payroll Pitch (28:42) - IRS Mystery Payments (30:48) - Busy Season Burnout (33:35) - California SaaS Tax Plan (34:54) - Big Four AI Hallucinations (36:48) - Are Consultants Replaceable (40:03) - AI Job Loss Chart (43:50) - Maxima Close Automation (45:12) - Musk Tax Return Training (46:03) - SpaceX IPO Breakdown (50:11) - CPE and Listener Q&A (52:51) - Wrap Up and Shoutouts Show Notes Intuit Lays Off 3,000 Employees Amid AI Push https://officechai.com/ai/intuit-lays-off-3000-employees-amid-ai-push/ U.S. Government Agrees to Drop Tax Claims Against Trump in Broadening of IRS Settlement https://www.npr.org/2026/05/19/g-s1-122938/irs-trump-settlement-tax-returns-audit DOJ Settlement 'Forever' Bars IRS Trump Audits, Sparks Backlash https://tax.thomsonreuters.com/news/doj-settlement-forever-bars-irs-trump-audits-sparks-backlash/ U.S. Audit Watchdog Should Rescind Its Independence Rules, SEC Official Says https://www.securitiesdocket.com/2026/05/08/u-s-audit-watchdog-should-rescind-its-independence-rules-sec-official-says-wsj/ The SEC's New SOX Group – Potential Impacts for Audit Firms, Their Professionals, and Future PCAOB Enforcement https://www.kslaw.com/news-and-insights/the-secs-new-sox-group-potential-impacts-for-audit-firms-their-professionals-and-future-pcaob-enforcement IRS to Develop System to Track Missing Payments, TIGTA Says https://www.thetaxadviser.com/news/2026/may/irs-to-develop-system-to-track-missing-payments-tigta-says/ 78% of Tax Pros Say Tax Season Negatively Impacts Personal and Professional Life https://www.cpapracticeadvisor.com/2026/05/26/78-of-tax-pros-say-that-tax-season-negatively-impacts-personal-professional-life/183912/ California Proposes Tax on All Digital Software Sales https://www.techtimes.com/articles/316734/20260516/californias-725-saas-tax-would-hit-every-business-running-microsoft-salesforce-workday.htm EY Gets Busted and Yeets Cybersecurity Report Littered With AI Hallucinations https://www.goingconcern.com/ey-gets-busted-and-yeets-cybersecurity-report-littered-with-ai-hallucinations/ Investigation: Hallucinations in Ernst & Young Report on Loyalty Fraud https://gptzero.me/investigations/ey Is AI Putting Graduates Out of Work Already? https://www.economist.com/finance-and-economics/2025/03/27/is-ai-putting-graduates-out-of-work-already Musk's xAI Fails to Pay Staff $420 for Giving Tax Returns to Grok https://www.bloomberg.com/news/articles/2026-05-18/musk-s-xai-promised-staff-420-for-their-tax-returns-hasn-t-paid SpaceX Files for IPO https://spacenews.com/spacex-files-for-ipo/ Need CPE? Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com 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? Check out our new website - accountingconferences.com Limited edition shirts, stickers, and other necessities TeePublic Store: http://cloudacctpod.link/merch Subscribe Apple Podcasts: http://cloudacctpod.link/ApplePodcasts YouTube: https://www.youtube.com/@TheAccountingPodcast Spotify: http://cloudacctpod.link/Spotify Podchaser:

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  • #488
    May 26 · 56 min

    Is GAAP Inflating the AI Bubble?

    Is AI really the next Google—or are investors repeating the last tech bubble? Blake and David dig into OpenAI’s legal win, the accounting mechanics behind soaring AI valuations, and why cloud credits and paper gains may be inflating the market. They also explore what could make AI tools actually sticky for businesses, from workflow automation to personal finance and small-business use cases, and what all of this means for accountants. Sponsors Digits - http://accountingpodcast.promo/digits R.E. Cost Seg - http://accountingpodcast.promo/recostseg OnPay - http://accountingpodcast.promo/onpay Maxima.AI - http://accountingpodcast.promo/maxima Chapters (00:00) - TAP 488 (00:22) - Cash Flow Forecast Debate (00:29) - Road Show Updates (00:56) - Conference Rebrand News (01:31) - Nasdaq AI Summit Preview (04:29) - Livestream Check In (05:14) - Musk vs OpenAI Ruling (07:25) - AI Bubble Warning Signs (10:47) - Roundtrip Accounting Explained (15:38) - Paper Profits Hit Big Tech (18:28) - Do AI Giants Have Moats (27:15) - ChatGPT Personal Finance Push (30:54) - Agentic App Platforms (31:44) - Query Volume As Moat (33:00) - Claude Small Business Suite (35:20) - Cash Flow Forecast Debate (37:02) - AI Tax Workbook Example (41:03) - Personal Finance Is A Hobby (44:14) - Synthetic And Bench Lessons (47:16) - Why GLs Still Matter (50:43) - Klarna Rehires Humans (52:45) - Token Prices Will Rise (54:07) - Wrap Up And Next Time Show Notes Jury Dismisses Elon Musk's Lawsuit Against OpenAI Over Statute of Limitations https://www.technologyreview.com/2026/05/18/1137488/elon-musk-suit-openai-verdict/ OpenAI Closes $122 Billion Funding Round, Largest in Silicon Valley History https://siliconangle.com/2026/03/31/openai-just-closed-record-breaking-122b-funding-round-brings-value-852b/ Alphabet and Amazon Stakes in Anthropic Boost Profits by Billions https://www.bloomberg.com/news/articles/2025-10-31/alphabet-amazon-stakes-in-anthropic-boost-profit-by-billions Half of Google's and Amazon's 'Blowout AI Profits' Came From a Stake in Anthropic https://fortune.com/2026/04/30/google-amazon-ai-profits-anthropic-stake-bubble-earnings-2026/ What Microsoft's 10-Q Says About OpenAI https://om.co/2026/05/01/what-microsofts-10-q-says-about-openai/ OpenAI Launches ChatGPT for Personal Finance, Will Let You Connect Bank Accounts https://techcrunch.com/2026/05/15/openai-launches-chatgpt-for-personal-finance-will-let-you-connect-bank-accounts/ Introducing Claude for Small Business https://www.anthropic.com/news/claude-for-small-business Sasha Orloff (Puzzle) LinkedIn Post: Klarna, AI Agent Costs, and Accounting Quality Risk https://www.linkedin.com/in/sashaorloff Klarna Reverses Course on AI Customer Support, Resumes Human Hiring https://www.customerexperiencedive.com/news/klarna-reinvests-human-talent-customer-service-AI-chatbot/747586/ Khosla Ventures Is Betting $10M on Ian Crosby, Whose Last Startup Bench Imploded https://techcrunch.com/2026/05/14/khosla-ventures-is-betting-10m-on-ian-crosby-whose-last-startup-bench-imploded/ How Intuit Plans to Ride Out the 'SaaS-pocalypse' (CFO Brew Interview with CTO Alex Balazs) https://www.cfobrew.com/stories/2026/04/14/intuit-cto-alex-balazs-saas-pocalypse Need CPE? Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com 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? Check out our new website - accountingconferences.com Limited edition shirts, stickers, and other necessities TeePublic Store: http://cloudacctpod.link/merch Subscribe Apple Podcasts: http://cloudacctpod.link/ApplePodcasts YouTube: https://www.youtube.com/@TheAccountingPodcast Spotify: http://cloudacctpod.link/Spotify Podchaser: http://cloudacctpod.link/podchaser Stitcher: http://cloudacctpod.link/Stitcher Overcast: http://cloudacctpod.link/Overcast Classifieds REFRAME 2026 - http://accountingpodcast.promo/reframe2026 Flowglad - https://cal.com/team/flowglad/flowglad 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 liste...

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Showing 1–20 of 28 episodes