The Accounting Podcast

• Deloitte Caught Making AI Workslop, IRS Shutdown Continues

  Could an AI catch what auditors and a CFO missed? This week, Blake and David unpack how a founder used Claude to scan QuickBooks and uncover a $2.1M embezzlement in 18 minutes. They also tackle Deloitte’s AI ‘workslop’ refund, shutdown-driven IRS and air travel woes, the IRS’s new “CEO” and crypto ties, OpenAI’s personal finance play, EY’s audit rebound, BDO’s ESOP squeeze, and crypto funds courting CPA clients.SponsorsCloud Accountant Staffing - http://accountingpodcast.promo/cas Rippling - http://accountingpodcast.promo/ripplingAssembly - http://accountingpodcast.promo/assemblyChapters(01:35) - Deloitte's AI Report Scandal (09:05) - Government Shutdown Impact on IRS and Air Travel (23:56) - AI in Accounting: Risks and Opportunities (34:49) - Competing with the Status Quo (35:38) - Pricing Bookkeeping Services (36:31) - Standardizing Services Based on Price (37:14) - Client Needs vs. Service Offerings (38:00) - The Monthly Close Obsession (40:01) - Broken Charts in Financial Reports (43:15) - Cracker Barrel Logo Controversy (47:08) - EY's Audit Quality Turnaround (49:53) - Crypto Investment Schemes (55:48) - BDO's Financial Struggles (01:00:34) - Conclusion and Announcements  Show NotesDeloitte to partially refund Australia for report with apparent AI-generated errors https://abcnews.go.com/Technology/wireStory/deloitte-partially-refund-australian-government-report-apparent-ai-126281611Claude Exposed My Co-Founder's $2M Theft — AI Evidence Turned Into Lawsuit https://techbullion.com/claude-exposed-my-co-founders-2m-theft-ai-evidence-turned-into-lawsuit/New Research: 20% of Americans use AI tools 10X+/month, but growth is slowing and traditional search hasn't dippedhttps://sparktoro.com/blog/new-research-20-of-americans-use-ai-tools-10x-month-but-growth-is-slowing-and-traditional-search-hasnt-dipped/The Danger of Bad Charts https://www.cpajournal.com/2025/10/10/the-danger-of-bad-charts-2/Cracker Barrel's logo controversy was driven by bots https://www.nrn.com/casual-dining/cracker-barrel-s-logo-controversy-was-driven-by-bots-what-operators-should-learn-from-thisOur commitment to audit quality — Ernst & Young LLP's 2025 report https://www.ey.com/en_us/assurance/audit-quality-reportEY drops clients to improve audits after leading Big Four in deficiencies https://www.cfobrew.com/stories/2024/08/27/ey-drops-clients-to-improve-audits-after-leading-big-four-in-deficienciesOpenAI Buys Personal Finance App Roi https://www.pymnts.com/acquisitions/2025/openai-buys-personal-finance-app-roi/With its latest acqui-hire, OpenAI is doubling down on personalized consumer AI https://techcrunch.com/2025/10/03/with-its-latest-acqui-hire-openai-is-doubling-down-on-personalized-consumer-ai/BDO USA Expands Professional Services Capabilities Through HORNE https://www.bdo.com/insights/press-releases/bdo-usa-expands-professional-services-capabilities-through-horneAuditor BDO Cuts Jobs With Focus on Managing Apollo Debt https://www.bloomberg.com/news/articles/2025-10-11/auditor-bdo-cuts-jobs-with-focus-on-managing-apollo-debtNeed 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/OvercastClassifiedsCollective by DBA - https://collective.cpa/ 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/RunClassifiedAdTranscriptsThe ...

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• WNBA Commissioner Has Worst Week of Any CPA

  SponsorsOnPay - http://accountingpodcast.promo/onpayCloud Accountant Staffing - http://accountingpodcast.promo/casBill.com - http://accountingpodcast.promo/bill.comAssembly - http://accountingpodcast.promo/assemblyChapters(00:00) - AI-Driven CEO Impersonator Scams (00:38) - WNBA Commissioner Controversy (07:04) - Standardizing Tech Stacks in Accounting Firms (13:06) - AI's Role in Accounting and Client Management (18:27) - IRS Shutdown and Economic Implications (25:49) - Fraud Stories and AI-Generated Scams (33:31) - Alternative CPA Pathways in California and New Jersey (34:32) - California's New CPA Pathways (35:45) - US News & World Report Rankings (37:38) - Tech Fundraising and Innovations (37:56) - Bill's Cybersecurity Awareness Month (40:33) - Dual Entry's $90 Million Series A (43:35) - AI and ERP Systems (50:58) - Avalara's AI Tax Compliance Agents (53:01) - Ignition's AI-Powered Pricing Tool (01:01:20) - Paycom's Layoffs and AI Automation (01:05:00) - Conclusion and Upcoming Events  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/OvercastClassifiedsCollective by DBA - https://collective.cpa/ 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/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page

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• Entry Level Auditor Jobs Fall 43% & the AI Workslop Heading Downstream

  Blake and David examine the growing threat of AI-generated fake receipts, with 32% of accountants unable to recognize fraudulent documents and 30% reporting an increase in fraud since last year. They also discuss the concerning decline in entry-level auditor positions (down 43% since January) as firms adopt AI automation, while nearly half of accounts payable professionals now fear layoffs and also explore the concept of "work slop"—low-quality AI-generated work costing businesses nearly $200 per employee monthly—and debate whether firms should require clients to use standardized technology stacks, with only 37% currently doing so. SponsorsCloud Accountant Staffing - http://accountingpodcast.promo/cas Rippling - http://accountingpodcast.promo/ripplingBill.com - http://accountingpodcast.promo/bill.comBluebook - http://accountingpodcast.promo/bluebookChapters(01:43) - Headline Story: Tech Stack Adoption in Accounting Firms (03:05) - Survey Insights: Tech Stack Usage in Firms (07:15) - AI's Impact on Entry-Level Jobs (13:55) - The Rise of 'Work Slop' and Its Costs (20:44) - AI and Automation in Accounting (25:08) - Human-in-the-Loop Automation with Zapier (28:22) - AI in Tax Research and IT Blockers (30:51) - Competitive Moats and Custom Bots (32:26) - Exciting Changes in CPE Standards (34:59) - Drake Software's Cloud-Based Tax Solution (43:06) - State Department Embezzlement Scandal (44:59) - Trump's Tariff Announcements (50:28) - H-1B Visa Fee Increase (56:20) - Conclusion and CPE Information  Show Notes32% of accountants can't recognize AI-generated fake receipts https://www.accountingtoday.com/news/32-admit-they-cannot-recognize-ai-generated-fake-receiptsEntry-level auditor job postings fell 43%, per Randstad https://www.accountingtoday.com/news/entry-level-auditor-job-postings-fell-43-per-randstadAI-Generated "Workslop" Is Destroying Productivity https://hbr.org/2025/09/ai-generated-workslop-is-destroying-productivity97% say CPA firms not using tech efficiently says survey https://www.accountingtoday.com/news/97-say-cpa-firms-not-using-tech-efficiently-says-surveyCPA.com & BILL Growth Survey: How Firms Plan to Stay Ahead https://www.bill.com/blog/cpa-and-bill-growth-technology-surveyAP Pros Face Growing Layoff Concerns and See Automation as a Career Lifeline https://www.cpapracticeadvisor.com/2025/09/11/ap-pros-face-growing-layoff-concerns-and-see-automation-as-a-career-lifeline-2/168818/Get more control over your workflows with Human in the Loop! https://help.zapier.com/hc/en-us/articles/38838619533069-Get-more-control-over-your-workflows-with-Human-in-the-Loop54% use AI in tax research, but search engines remain prominent https://www.accountingtoday.com/news/54-use-ai-in-tax-research-but-search-engines-remain-prominentDrake Software Introduces Drake Tax Online https://www.cpapracticeadvisor.com/2025/09/24/drake-software-introduces-drake-tax-online/169572/Drake Software Launches Drake Tax Online: Powerful, Flexible Tax Software in the Cloud https://www.prnewswire.com/news-releases/drake-software-launches-drake-tax-online-powerful-flexible-tax-software-in-the-cloud-302566087.htmlNASBA, AICPA release proposed revisions to CPE standards https://www.journalofaccountancy.com/news/2025/sep/nasba-aicpa-release-proposed-revisions-to-cpe-standardsNASBA, AICPA Release Exposure Draft of Proposed Revisions to CPE Standardshttps://nasba.org/blog/2025/09/15/revisions-to-cpe-standards-2025/ H-1B FAQhttps://www.uscis.gov/newsroom/alerts/h-1b-faq 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:

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• Accounting Firm Revenues, Profits, Compensation Rise

  Are accounting firms quietly having their best year ever? Blake and David break down why revenues and partner comp are rising—despite AI anxiety—and what it means for pricing and staffing. They unpack Gusto Money’s Melio-powered bill pay, Relay’s $1B milestone, Drake’s new workflow, and AI tools that actually help (note-takers, agents, research). Plus: Trump’s biannual reporting idea, peer review for PE-backed firms, BOI reversal, and the messy ‘no tax on tips’ proposal.SponsorsOnPay - http://accountingpodcast.promo/onpay TeamUp - http://accountingpodcast.promo/teamupBluebook - http://accountingpodcast.promo/bluebookChapters(00:00) - Introduction and Revenue Insights (00:43) - Welcome to the Accounting Podcast (01:00) - Gusto Showcase Event Highlights (04:18) - The Importance of Long-Term Relationships in FinTech (08:58) - Advisory Amplified Tour Announcement (11:06) - AI in Accounting: Honest Reflections from a Tech Founder (16:48) - AI Meeting Assistants for Accounting Firms (21:03) - Comparing AI Tools: Blue Jay vs. ChatGPT (29:43) - Accounting Firms' Revenue and Compensation Growth (31:12) - Rising Costs and Accounting Firm Strategies (32:25) - NASBA's New Mobile App for CPA Exam Candidates (33:50) - Drake Software's Workflow Automation Launch (37:13) - AI in the Workplace: Surveys and Trends (41:16) - Fiverr's Shift to AI and Layoffs (44:09) - Trump's Proposal on Financial Reporting (50:01) - Private Equity and Peer Review Oversight (52:28) - Tax-Free Tips and Proposed Regulations (54:13) - AICPA and NASBA's Earn and Learn Program Shutdown (55:20) - Conclusion and Listener Engagement  Show NotesCPA Firms Report Steady Growth in Revenue and Profit, AICPA Research Finds https://www.aicpa-cima.com/news/article/cpa-firms-report-steady-growth-in-revenue-and-profit-aicpa-research-findsVinyl Raises $2M to Build the Future of AI Meeting Assistants for Accountantshttps://www.usevinyl.com/insights/blog/vinyl-seed-funding-announcementDrake Software Unveils Powerful New Tax Workflow Automation Toolshttps://www.prnewswire.com/news-releases/drake-software-unveils-powerful-new-tax-workflow-automation-tools-302558230.htmlNASBA Releases CPA Mobile App for Future CPAs https://www.accountingtoday.com/news/nasba-releases-cpa-mobile-appAICPA Seeks Comment on Peer Review Proposal for Firms with Private Equity Backinghttps://www.cpapracticeadvisor.com/2025/09/16/aicpa-seeks-comment-on-peer-review-proposal-for-firms-with-private-equity-backing/169014/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/OvercastClassifiedsCollective by DBA - https://collective.cpa/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/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page

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• The HIRE Act Would Tax Firms 25% for Offshore Labor

  Blake and David examine several major developments affecting the accounting profession, including the proposed HIRE Act that would impose a 25% excise tax on offshore labor payments to accounting firms. They also look at how AI is transforming hiring practices at major firms like PwC, which is cutting graduate recruitment due to advancing technology and explore practical AI implementation strategies for accounting firms, moving beyond basic chatbots to integrated workflows. The show wraps up with a story about fraud at The Epoch Times - a $67 million money laundering scheme - and the ongoing costs of bad social media tax advice. SponsorsOnPay - http://accountingpodcast.promo/onpayRelay - http://accountingpodcast.promo/relay TeamUp - http://accountingpodcast.promo/teamupChapters(00:00) - Introduction and Personal Updates (00:48) - AI in Accounting: Challenges and Opportunities (04:57) - The Higher Act: Taxing Offshore Labor (05:23) - Feel-Good Story: The Oldest Marching Band Member (10:23) - Impact of AI on Job Market (26:33) - Gambling Scandal and AI in Government (36:22) - Expense Management Simplified (38:29) - Supreme Court and Tariffs Update (42:37) - Red Lobster's Downfall: A Case Study (45:37) - The Role of AI in Accounting Firms (01:03:04) - Epic Times CFO Charged with Money Laundering (01:08:38) - Conclusion and Announcements  Show NotesNew Moreno Bill Would Crack Down on Outsourcing, Fund American Workers - Senator Bernie Moreno https://www.moreno.senate.gov/press-releases/new-moreno-bill-would-crack-down-on-outsourcing-fund-american-workers/HIRE Act - A BILL https://www.moreno.senate.gov/wp-content/uploads/2025/09/The-HIRE-Act.pdfMoreno Bill to Crackdown on Foreign Outsourcing Blocked by Senate Democrats - Senator Bernie Moreno https://www.moreno.senate.gov/press-releases/moreno-bill-to-crackdown-on-foreign-outsourcing-blocked-by-senate-democrats/Offshoring is Screwed If This HIRE Act Thing Goes Anywhere But Let's Not Get Too Excited Yet - Going Concern https://www.goingconcern.com/offshoring-is-screwed-if-this-hire-act-thing-goes-anywhere-but-lets-not-get-too-excited-yet/PwC's U.K. chief admits he's cutting back entry-level jobs and taking a 'watch and wait' approach to see how AI changes work | Fortune https://fortune.com/2025/09/08/pwc-uk-chief-cutting-entry-level-junior-gen-z-jobs-ai-economic-headwinds-like-amazon-salesforce/AI takes entry-level jobs as Big Four slash graduate hiring https://bmmagazine.co.uk/news/big-four-cut-graduate-jobs-ai/PwC Cuts Graduate Hiring as AI Reshapes Entry-Level Careers - TechStory https://techstory.in/pwc-cuts-graduate-hiring-as-ai-reshapes-entry-level-careers/IRS assesses $162 million in penalties over false tax credit claims tied to social media | Internal Revenue Service https://www.irs.gov/newsroom/irs-assesses-162-million-in-penalties-over-false-tax-credit-claims-tied-to-social-mediaSocial media claims cost taxpayers $162M, IRS says. See the 'tips' to avoid https://thehill.com/homenews/5492263-social-media-claims-cost-taxpayers-162m-irs-says-see-the-tips-to-avoid/IRS warns taxpayers: Social media advice can lead to costly penalties https://www.journalofaccountancy.com/news/2025/sep/irs-warns-taxpayers-social-media-advice-can-lead-to-costly-penalties/Dirty Dozen: Taking tax advice on social media can be bad news for taxpayers; inaccurate or misleading tax information circulating | Internal Revenue Service https://www.irs.gov/newsroom/dirty-dozen-taking-tax-advice-on-social-media-can-be-bad-news-for-taxpayers-inaccurate-or-misleading-tax-information-circulatingAlbania appoints world's first AI government 'minister' to root out corruption | Euronews https://www.euronews.com/next/2025/09/12/albania-appoints-worlds-first-ai-government-minister-to-root-out-corruptionDiella (AI system) - Wikipedia https://en.wikipedia.org/wiki/Diella_(AI_system)Epoch Times embroiled in alleged cryptocurrency money laundering scheme - The Washington Post https://www.washingtonpost.com/style/media/2024/06/04/epoch-times-money-laundering-cryptocurrency/CFO of Falun Gong-linked Epoch Times arrested and accused of role in $67m multinational money laundering scheme | Fortune https://fortune.com/2024/06/04/cfo-weidong-bill-guan-falun-gong-epoch-times-arrested-67m-multinational-money-laundering-scheme/The only recap of Red Lobster's downfall you need https://thetakeout.com/red-lobster-endless-shrimp-private-equity-downfall-recapNeed 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 wr...

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