The Accounting Podcast

China Tells State Firms To Drop Big Four Auditors


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IRS stuck on 1970's technology; Twitter poll says change back to 120 hours; Photos prove accounting thought leaders met; Intuit's 2023 Q2 Results

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  • (00:00) - China Tells State Firms to Drop Big Four
  • (00:25) - Preview: "The IRS is broken"
  • (01:09) - Blake and David recap the CPA Educators Conference
  • (08:27) - Some quick listener feedback and Blake interviewed a guest earlier in the week
  • (10:44) - China is telling firms to drop their Big 4 auditors
  • (14:30) - Some updates from Intuit's latest earnings report
  • (19:27) - Blake gives live Chat GPT demo on email responses
  • (24:19) - Vanderbilt University is getting criticized for using Chat GPT to write sympathy email to Michigan State
  • (25:42) - The IRS is using 60 year old technology and won't upgrade it
  • (30:42) - Open Secrets article on Intuit's lobbying money
  • (34:29) - Blake checks in on some live viewer chat
  • (36:15) - The Big 4 and their purpose statements
  • (39:11) - Interview with Jimmy Corley and the 150 hour rule
  • (55:18) - Blake shares a poll from Twitter on 150 hour requirement
  • (57:01) - Criticism on CPA Practice Advisors photo op and article on future of profession
  • (59:22) - Join us next week and where to reach Blake and David

  • Show Notes

    Opinion | Badly outdated technology plagues the IRS - The Washington Post

    https://www.washingtonpost.com/opinions/2023/02/22/outdated-technology-irs/

     

    China urges state firms to drop Big Four auditors on data risk | Accounting Today

    https://www.accountingtoday.com/articles/china-urges-state-firms-to-drop-big-four-auditors-on-data-risk

     

    Twitter Poll: Should 150 college credits be required or 120 to be a CPA?

    https://twitter.com/mikesyl36625988/status/1626946277127729155?s=12&t=ETTs0WOvobuoMmjCN8GztQ

    What You Should Know About Changing the 150 Hour Rule Before You Debate For or Against It

    https://www.goingconcern.com/150-hour-rule-changes-issues/

     

    Accounting Thought Leaders Discuss Future of the Profession, Advisory Services, and Tax

    https://www.cpapracticeadvisor.com/2023/02/21/accounting-thought-leaders-discuss-future-of-advisory-and-tax/76941/

     

    Opinion | The IRS should not be running on 60-year-old technology

    https://www.washingtonpost.com/opinions/2023/02/22/outdated-technology-irs/

     

    Intuit's (INTU) Q2 Earnings and Revenues Beat Estimates

    https://www.zacks.com/stock/news/2058809/intuit-s-intu-q2-earnings-and-revenues-beat-estimates?cid=CS-ZC-FT-analyst_blog|earnings_article-2058809

     

    China to shift away from Big Four accounting firms           

    https://asiatimes.com/2023/02/china-to-shift-away-from-big-four-accounting-firms/

     

    Intuit Inc. (INTU) Q2 2023 Earnings Call Transcript              

    https://seekingalpha.com/article/4581444-intuit-inc-intu-q2-2023-earnings-call-transcript

     

    Intuit Reports Strong Second Quarter Results and Reiterates Full Year Guidance

    http://www.businesswire.com/news/home/20230223005037/en/Intuit-Reports-Strong-Second-Quarter-Results-and-Reiterates-Full-Year-Guidance

     

    How CPA Firms Are Engaging the Next Tax and Accounting Pros  

    https://news.bloombergtax.com/tax-insights-and-commentary/how-cpa-firms-are-engaging-the-next-tax-and-accounting-pros

     

    TurboTax parent company Intuit is pouring more money than ever into lobbying amid push for free government-run tax filing               

    https://www.opensecrets.org/news/2023/02/turbotax-parent-company-intuit-is-pouring-more-money-than-ever-into-lobbying-amid-push-for-free-government-run-tax-filing/


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    Thanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040

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    The Accounting PodcastBy Blake Oliver & David Leary

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