The Accounting Podcast

Is private equity turning firms into a 'dumpster fire'? Blake and David unpack Accounting Today's survey showing partners are upbeat while staff are sour on PE. They hit Andersen's $176M IPO, why Big Four ties to Big Tech raise independence questions, and how AI could finally kill the billable hour. Plus, what tax pros really charge in 2025 - and the wild 'Middle Finger Ranch' fraud.SponsorsOnPay - http://accountingpodcast.promo/onpay Cloud Accountant Staffing - http://accountingpodcast.promo/casChapters(00:56) - Private Equity in Accounting Firms (01:51) - Sponsor Message: OnPay Payroll Solutions (04:15) - Arthur Andersen's Legacy and IPO (07:45) - Private Equity Survey Results (21:04) - Big Four and Tech Giants (28:25) - Pricing Models for CAS Engagements (30:22) - Tax Preparers' Fees Breakdown (36:12) - Cloud Accountant Staffing (37:34) - Economic Growth and Consumer Spending (40:26) - Fraud Stories: Middle Finger Ranch and More (43:24) - PCAOB Budget Cuts and Enforcement Actions (52:29) - IRS Readiness for Tax Season (53:43) - Conclusion and Upcoming Topics  Show NotesPE in accounting firms: From 'dumpster fire' to excitementhttps://www.accountingtoday.com/news/pe-in-accounting-firms-from-dumpster-fire-to-excitement Andersen Group Shares Gain 47% After $176 Million US IPOhttps://www.bloomberg.com/news/articles/2025-12-17/andersen-group-shares-jump-34-after-176-million-us-ipo Andersen goes public, hits $2.6B valuationhttps://thefinancestory.com/andersen-group-ipo-2-6b-valuation The Big Four consulting firms are embedded in Big Tech. Here's who audits each of the Magnificent 7 companieshttps://www.businessinsider.com/big-four-accounting-audits-magnificent-seven-financial-records-2025-12 What do tax preparers charge? https://www.accountingtoday.com/news/what-do-tax-preparers-charge How much do tax professionals charge in 2025? Insights from NATP's Fee Studyhttps://www.natptax.com/news-insights/blog/how-much-do-tax-professionals-charge-in-2025-insights-from-natp-s-fee-study/ U.S. economic growth surges in third quarter to 4.3%https://www.washingtonpost.com/business/2025/12/23/gdp-economy-consumer-spending/ The US economy expanded at the fastest pace in two years as wealthier Americans kept spending https://www.cnn.com/2025/12/23/economy/us-gdp-q3 Kansas accountant diverted family funds to fictitious 'Middle Finger Ranch'https://kansasreflector.com/briefs/kansas-accountant-diverted-family-funds-to-fictitious-middle-finger-ranch/ Kansas Accountant, Who Created Fictitious 'Middle Finger Ranch' for Fraud Scheme, Sentenced to 4 Years in Jailhttps://www.cpapracticeadvisor.com/2025/12/04/kansas-accountant-who-created-fictitious-middle-finger-ranch-for-fraud-scheme-sentenced-to-4-years/174381/ PCAOB to tighten budget in 2026 https://www.accountingtoday.com/news/pcaob-to-tighten-budget-in-2026 PCAOB Approves 2026 Budget https://pcaobus.org/news-events/news-releases/news-release-detail/pcaob-approves-2026-budget Accounting Firms Must Stop Charging for Timehttps://cpatrendlines.com/2025/12/02/accounting-firms-must-stop-charging-for-time/ Dirty money gangster jailed over plot worth almost £12mhttps://www.dailyrecord.co.uk/news/scottish-news/dirty-money-gangster-jailed-over-36410033 PCAOB Sanctions CPA for Violations Related to Audit Evidence and Her Former Audit Firm for Quality Control Issueshttps://pcaobus.org/news-events/news-releases/news-release-detail/pcaob-sanctions-cpa-for-violations-related-to-audit-evidence-and-her-former-audit-firm-for-quality-control-issues Ahead of Tax Filing Season, Warren, King, 15 Senators Warn of Tax Filing Chaos After Trump Admin Attacks on IRShttps://www.warren.senate.gov/newsroom/press-releases/ahead-of-tax-filing-season-warren-king-15-senators-warn-of-tax-filing-chaos-after-trump-admin-attacks-on-irsNeed CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks 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.SponsorshipsAre you interested in sponsoring The Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info?&n...

Chapters(00:47) - Jeffrey Epstein's CPA and Lawyer (03:10) - Wall Street Journal Article on Epstein's Associates (05:58) - Discussion on Epstein's Financial Operations (14:25) - Trump's Executive Order on Cannabis Businesses (18:16) - Tax Implications for Gambling and Prediction Markets (20:47) - IRS Criminal Investigations Unit Record Year (25:13) - Lawyer Sues IRS to Recognize Dog as Dependent (28:09) - Trump's New US Tech Force (29:27) - Trump's Hiring Plans and Tech Startups (30:22) - Startup Fraud in Tax Accounting (34:23) - Intuit and Circle Partnership (36:38) - AI and Stablecoin Payments (44:16) - AI's Impact on Accounting Jobs (51:24) - AI-Powered Fraud in Finance (55:59) - Closing Remarks and Announcements  Show NotesThe CPA and the Lawyer Who Served Jeffrey Epstein—and Control His Fortune and Secrets https://www.wsj.com/articles/the-cpa-and-the-lawyer-who-served-jeffrey-epstein-and-control-his-fortune-and-secretsTaking a gamble on prediction market taxation https://www.accountingtoday.com/news/taking-a-gamble-on-prediction-market-taxationLawyer sues IRS to recognize pets as dependents https://www.accountingtoday.com/news/lawyer-sues-irs-to-recognize-pets-as-dependentsSEC Charges Shiloh Luckey https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26424The FBI is investigating a startup founder accused of using VC money to pay for her house and a Caribbean wedding https://techstartups.com/2025/12/16/the-fbi-is-investigating-a-startup-founder-accused-of-spending-5-5-million-in-vc-funding-on-a-house-and-caribbean-wedding/Intuit taps Circle's USDC to add stablecoin payments across TurboTax and QuickBooks https://www.theblock.co/post/383184/intuit-circle-usdc-stablecoin-payments-turbotax-quickbooksIntuit and Circle Partner to Unlock the Future of Money Movement with Stablecoins https://investors.intuit.com/news-events/press-releases/detail/1292/intuit-and-circle-partner-to-unlock-the-future-of-money-movement-with-stablecoinsAI Is Reshaping Accounting Jobs by Doing the "Boring" Stuff https://www.gsb.stanford.edu/insights/ai-reshaping-accounting-jobs-doing-boring-stuffHuman + AI in Accounting: Early Evidence from the Field https://www.gsb.stanford.edu/faculty-research/working-papers/human-ai-accounting-early-evidence-fieldIRS-CI issues fiscal year 2025 annual report showcasing banner investigative results https://www.irs.gov/newsroom/irs-ci-issues-fiscal-year-2025-annual-report-showcasing-banner-investigative-resultsIRS Criminal Investigation uncovers $10.6B in financial crimes https://www.accountingtoday.com/news/irs-criminal-investigation-uncovers-10-6b-in-financial-crimesDext warns businesses over losses from ChatGPT-style financial advice https://fintech.global/2025/12/18/dext-warns-businesses-over-losses-from-chatgpt-style-financial-advice/ChatGPT tax advice already costing UK firms, say accountants https://itbrief.co.uk/story/chatgpt-tax-advice-already-costing-uk-firms-say-accountantsTrump admin to hire 1,000 specialists for 'Tech Force' to build AI, finance projects https://www.cnbc.com/2025/12/15/trump-ai-tech-force-amazon-apple.htmlOPM Launches US Tech Force to Implement President Trump's Vision for Technology Leadershiphttps://www.opm.gov/news/news-releases/opm-launches-us-tech-force-to-implement-president-trumps-vision-for-technology-leadership/Double Raises $6.5 Million Series A from Album Ventures, Jack Altman, and Y Combinator to Double Accountants' Productivity https://www.businesswire.com/news/home/20251210027851/en/Double-Raises-$6.5-Million-Series-A-from-Album-Ventures-Jack-Altman-and-Y-Combinator-to-Double-Accountants-ProductivityZoho announces enterprise billing, spend management products https://www.accountingtoday.com/news/zoho-announces-enterprise-billing-spend-management-productsZoho Announces Zoho Spend and Zoho Billing Enterprise Edition https://www.businesswire.com/news/home/20251218170986/en/Zoho-Announces-Zoho-Spend-and-Zoho-Billing-Enterprise-Edition-Offering-Large-Businesses-Greater-Control-and-Flexibility-Over-Billing-Operations-and-Company-Spend-as-They-ScaleAI giving scammers new tricks, enhancing old ones https://www.accountingtoday.com/news/ai-giving-scammers-new-tricks-enhancing-old-onesFrom secure to spooked: White-collar workers face rising job fears https://www.businessreport.com/article/from-secure-to-spooked-white-collar-workers-face-rising-job-fearsNeed CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great r...

Will IRS agents have to watch OnlyFans to police the new “no tax on tips” deduction? Blake and David unpack the wild twist: a study showing that women-led audit teams deliver higher-quality work at lower fees, and why AI could finally kill the billable hour. They hit PCAOB’s AI/PE crackdown, KPMG’s AI exam cheating, AI‑written financial reports, Meta’s off‑balance‑sheet data center, the IRS Math Act, and new child investment accounts. Walk away with policy context and practical tech takeaways.SponsorsOnPay - http://accountingpodcast.promo/onpayACFE - http://accountingpodcast.promo/acfe Cloud Accountant Staffing - http://accountingpodcast.promo/casChapters(01:15) - New Tax Deduction for Digital Content Creators (02:27) - IRS Agents and OnlyFans Content (04:39) - IRS Telework Policy Changes (06:15) - Earmark CPE and Listener Interaction (09:25) - President's Statement on Federal Income Tax (13:15) - IRS Math Act and Senator Justice's Tax Issues (16:03) - Trump Accounts and PCAOB Scrutiny on AI (24:20) - Audit Quality and Gender Diversity (28:30) - KPMG AI Cheating Scandal (30:51) - AI's Impact on Time Savings in Various Industries (32:56) - The Role of AI in Accounting and Its Limitations (34:26) - AI in Financial Reporting and Business Processes (36:44) - The Decline of the Billable Hour Due to AI (47:01) - Meta's Controversial Accounting Practices (50:56) - Pilot's New Partner Program for Accountants (58:58) - Conclusion and Final Thoughts  Show NotesComing soon!Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks 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.SponsorshipsAre you interested in sponsoring The Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsWant 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/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page

Are accountants no longer “professionals”? We unpack the DOE proposal that could slash grad loan limits—and what AICPA/NASBA plans to do about it. Plus: Deloitte’s AI-made citations, EY’s audit turnaround, PwC’s end‑to‑end AI audit ambitions, and OpenAI’s circular investment into accounting rollups. We also cover Xero’s new auto‑reconcile, Intuit’s small‑biz data ad play, and two practical wins: Google’s shared inboxes and unexpected networking tactics for landing that first job.SponsorsCloud Accountant Staffing - http://accountingpodcast.promo/casACFE - http://accountingpodcast.promo/acfeOnPay - http://accountingpodcast.promo/onpayChapters(00:00) - Introduction and Podcast Overview (00:44) - Headline: Accountants No Longer Professionals? (02:18) - Department of Education's Proposal and Reactions (03:50) - Implications for Accounting Students and Professionals (09:28) - Deloitte's AI Work Swap Controversy (12:46) - EY's Audit Quality Improvements (20:56) - Economic Update: Tariffs and Job Market (34:02) - Circular AI Investments: A Closer Look (36:31) - AI Tools for Accountants: New Features (39:32) - Xero's New Pricing and AI Policies (49:13) - PWC's AI-Driven Audit Automation (52:39) - Google Workspace Shared Inboxes (55:49) - Dissolution of the Department of Government Efficiency (56:47) - Career Networking Tips for Accountants (01:01:16) - Outsourcing Talent: A Global Perspective  Show NotesDepartment of Education Accounting Professional Degree Classificationhttps://www.newsweek.com/full-list-degrees-professional-trump-administration-11085695 Accountants Inexplicably Deemed "Not Professional" Under OBBBA Student Loan Rules https://www.goingconcern.com/accountants-inexplicably-deemed-not-professional-under-obba-student-loan-rules/ Department of Education Unclassifies Accounting as a Professional Degree https://www.cpapracticeadvisor.com/2025/11/24/department-of-education-unclassifies-accounting-as-a-professional-degree/173875/ Deloitte allegedly cited AI-generated research in a million-dollar report for a Canadian provincial government https://fortune.com/2025/11/25/deloitte-caught-fabricated-ai-generated-research-million-dollar-report-canada-government/ Major N.L. healthcare report contains errors likely generated by A.I. https://theindependent.ca/news/lji/major-n-l-healthcare-report-contains-errors-likely-generated-by-a-i/ N.L. asks Deloitte to carry out review after 'incorrect' citations found in $1.6M provincial health planhttps://www.cbc.ca/news/canada/newfoundland-labrador/nl-deloitte-citations-9.6990216 OpenAI's investment into Thrive Holdings is its latest circular deal https://techcrunch.com/2025/12/01/openais-investment-into-thrive-holdings-is-its-latest-circular-deal/ Thrive-backed accounting firm Crete to spend $500 million in AI roll-up https://finance.yahoo.com/news/thrive-backed-accounting-firm-crete-130200467.html Crete PA plans $500 million spend to buy and upgrade accounting firms with AI https://www.accountingtoday.com/news/crete-pa-plans-500-million-spend-to-buy-and-upgrade-firms-with-ai OpenAI takes an ownership stake in Thrive Holdings to accelerate enterprise AI adoption https://openai.com/index/thrive-holdings/ Trump Tariffs: The Economic Impact of the Trump Trade War https://taxfoundation.org/research/all/federal/trump-tariffs-trade-war/ IEEPA Tariffs Are Down from April Threatshttps://taxfoundation.org/blog/ieepa-tariffs-rates-down-april-threats/Intuit SMB MediaLabs Audiences Now Available on The Trade Desk Platform https://investors.intuit.com/news-events/press-releases/detail/1288/intuit-smb-medialabs-audiences-now-available-on-the-trade-desk-platform-connecting-advertisers-with-small-and-mid-market-businesses Intuit SMB MediaLabs | Advertising Networkhttps://medialabs.intuit.com/Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks 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.SponsorshipsAre you interested in sponsoring The Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/AppleP...

Do money talks make your family squirm more than politics? In this Thanksgiving mailbag, Blake and David dig into a Bankrate survey on taboo money chats, the grim 2026 grad job market, and the maze of CPA experience sign-offs after NASBA’s program vanished. You’ll hear practical career advice (big firm vs. small, starting bookkeeping), what AI can and can’t do for accountants today, plus news on audit partners’ outlook and tariff shifts hitting grocery bills.Chapters(01:14) - Listener Mailbag: Top Messages of the Year (02:05) - Thanksgiving Dinner Conversations: Money vs. Politics (06:11) - Listener Questions: CPA Licensing Challenges (12:07) - NASBA Data Issues and CPA Exam Pass Rates (13:24) - Economic Optimism Among Audit Partners (17:22) - Political News: Tariff Rollbacks (19:03) - Career Advice for Accounting Students (26:47) - AI's Impact on Accounting Careers (27:34) - AI's Current Capabilities and Limitations (31:10) - Future of AI in Accounting (34:49) - Challenges in Accounting Education (40:51) - Listener Mail and Feedback (46:23) - Accounting News and Stories  Show NotesCompanies Predict 2026 Will Be the Worst College Grad Job Market in Five Years https://www.wsj.com/lifestyle/careers/2026-graduates-job-market-7928bcd7 Survey: Americans would rather discuss politics or religion than what's in their bank accounts https://www.bankrate.com/banking/financial-taboos-survey/ Audit partners feel more optimistic about economy https://www.accountingtoday.com/news/audit-partners-feel-more-optimistic-about-economy Trump lowers tariffs on coffee, beef and fruits, as Americans' concerns about affordability grow https://www.cnn.com/2025/11/14/economy/lower-tariffs-coffee-beef-bananas-produce Georgia Accountant Arrested After Allegedly Tearing Down Trump Sign, Shooting at North Carolina Man's Househttps://www.cpapracticeadvisor.com/2025/10/24/georgia-accountant-arrested-after-allegedly-tearing-down-trump-sign-shooting-at-north-carolina-mans-house/171649/ Measuring AI Ability to Complete Long Tasks https://metr.org/blog/2025-03-19-measuring-ai-ability-to-complete-long-tasks/Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks 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.SponsorshipsAre you interested in sponsoring The Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastWant 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/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page