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• (00:00) - AI-Driven CEO Impersonator Scams

Show Notes

Coming soon!

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Transcripts

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

Blake and David examine the growing threat of AI-generated fake receipts, with 32% of accountants unable to recognize fraudulent documents and 30% reporting an increase in fraud since last year. They also discuss the concerning decline in entry-level auditor positions (down 43% since January) as firms adopt AI automation, while nearly half of accounts payable professionals now fear layoffs and also explore the concept of "work slop"—low-quality AI-generated work costing businesses nearly $200 per employee monthly—and debate whether firms should require clients to use standardized technology stacks, with only 37% currently doing so.

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• (01:43) - Headline Story: Tech Stack Adoption in Accounting Firms

Show Notes

32% of accountants can't recognize AI-generated fake receipts 

https://www.accountingtoday.com/news/32-admit-they-cannot-recognize-ai-generated-fake-receipts

Entry-level auditor job postings fell 43%, per Randstad 

https://www.accountingtoday.com/news/entry-level-auditor-job-postings-fell-43-per-randstad

AI-Generated "Workslop" Is Destroying Productivity 

https://hbr.org/2025/09/ai-generated-workslop-is-destroying-productivity

97% say CPA firms not using tech efficiently says survey 

https://www.accountingtoday.com/news/97-say-cpa-firms-not-using-tech-efficiently-says-survey

CPA.com & BILL Growth Survey: How Firms Plan to Stay Ahead 

https://www.bill.com/blog/cpa-and-bill-growth-technology-survey

AP Pros Face Growing Layoff Concerns and See Automation as a Career Lifeline 

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-Loop

54% use AI in tax research, but search engines remain prominent 

https://www.accountingtoday.com/news/54-use-ai-in-tax-research-but-search-engines-remain-prominent

Drake Software Introduces Drake Tax Online 

https://www.cpapracticeadvisor.com/2025/09/24/drake-software-introduces-drake-tax-online/169572/

Drake Software Launches Drake Tax Online: Powerful, Flexible Tax Software in the Cloud 

https://www.prnewswire.com/news-releases/drake-software-launches-drake-tax-online-powerful-flexible-tax-software-in-the-cloud-302566087.html

NASBA, AICPA release proposed revisions to CPE standards 

https://www.journalofaccountancy.com/news/2025/sep/nasba-aicpa-release-proposed-revisions-to-cpe-standards

NASBA, AICPA Release Exposure Draft of Proposed Revisions to CPE Standards

https://nasba.org/blog/2025/09/15/revisions-to-cpe-standards-2025/

H-1B FAQ

https://www.uscis.gov/newsroom/alerts/h-1b-faq

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Are accounting firms quietly having their best year ever? Blake and David break down why revenues and partner comp are rising—despite AI anxiety—and what it means for pricing and staffing. They unpack Gusto Money’s Melio-powered bill pay, Relay’s $1B milestone, Drake’s new workflow, and AI tools that actually help (note-takers, agents, research). Plus: Trump’s biannual reporting idea, peer review for PE-backed firms, BOI reversal, and the messy ‘no tax on tips’ proposal.

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• (00:00) - Introduction and Revenue Insights

Show Notes

CPA Firms Report Steady Growth in Revenue and Profit, AICPA Research Finds
https://www.aicpa-cima.com/news/article/cpa-firms-report-steady-growth-in-revenue-and-profit-aicpa-research-finds

Vinyl Raises $2M to Build the Future of AI Meeting Assistants for Accountants
https://www.usevinyl.com/insights/blog/vinyl-seed-funding-announcement

Drake Software Unveils Powerful New Tax Workflow Automation Tools
https://www.prnewswire.com/news-releases/drake-software-unveils-powerful-new-tax-workflow-automation-tools-302558230.html

NASBA Releases CPA Mobile App for Future CPAs
https://www.accountingtoday.com/news/nasba-releases-cpa-mobile-app

AICPA Seeks Comment on Peer Review Proposal for Firms with Private Equity Backing
https://www.cpapracticeadvisor.com/2025/09/16/aicpa-seeks-comment-on-peer-review-proposal-for-firms-with-private-equity-backing/169014/

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Transcripts

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

Blake and David examine several major developments affecting the accounting profession, including the proposed HIRE Act that would impose a 25% excise tax on offshore labor payments to accounting firms. They also look at how AI is transforming hiring practices at major firms like PwC, which is cutting graduate recruitment due to advancing technology and explore practical AI implementation strategies for accounting firms, moving beyond basic chatbots to integrated workflows. The show wraps up with a story about fraud at The Epoch Times - a $67 million money laundering scheme - and the ongoing costs of bad social media tax advice.
 

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• (00:00) - Introduction and Personal Updates

Show Notes

New 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.pdf

Moreno 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-media

Social 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-circulating

Albania 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-corruption

Diella (AI system) - Wikipedia 

https://en.wikipedia.org/wiki/Diella_(AI_system)

Epoch Times embroiled in alleged cryptocurrency money laundering scheme - The Washington Post 

https://www.washingtonpost.com/style/media/2024/06/04/epoch-times-money-laundering-cryptocurrency/

CFO of Falun Gong-linked Epoch Times arrested and accused of role in $67m multinational money laundering scheme | Fortune 

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-recap

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Are AI “super agents” like Xero’s Jax actually useful—or just shiny chatbots? Blake and David unpack Xerocon announcements, why embedded agents lack context, smarter way to automate bank feeds with rules, the leaked “no tax on tips” job list and planning opportunities, IRS staffing whiplash, plus what billion‑dollar AI pledges from big firms really mean. Walk away with practical steps to deploy AI that saves hours without losing control.

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• (00:00) - Introduction and Podcast Overview

Show Notes

Treasury names jobs for Trump's 'no tax on tips' deduction
https://www.cnbc.com/2025/09/03/treasury-trump-no-tax-on-tips-jobs.html

Scoop: List of jobs covered by Trump's "no tax on tips" (See if you qualify)
https://www.axios.com/2025/09/01/no-tax-on-tips-jobs-trump-bill

Workers in 68 occupations may soon be exempt from paying taxes on tips, including some surprising jobs
https://www.cbsnews.com/news/no-tax-on-tips-trump-big-beautiful-bill-68-occupations-heres-who/

IRS is canceling its layoff plans, will ask some it fired or pushed out to return
https://www.govexec.com/workforce/2025/08/irs-canceling-its-layoff-plans-will-ask-some-it-fired-or-pushed-out-return/407620/

The IRS is Downsizing: Key Divisions Most Affected in 2025
https://sandbergphoenix.com/the-irs-is-downsizing-key-divisions-most-affected-in-2025/

Grant Thornton Advisors investing $1 billion to arm the multinational workforce across its platform with powerful AI tools and technology
https://www.businesswire.com/news/home/20250904414830/en/Grant-Thornton-Advisors-investing-$1-billion-to-arm-the-multinational-workforce-across-its-platform-with-powerful-AI-tools-and-technology

Grant Thornton Advisors to Sink $1 Billion Over Three Years on AI
https://www.cpapracticeadvisor.com/2025/09/05/grant-thornton-advisors-to-sink-1-billion-over-three-years-on-ai/168500/

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Transcripts

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

Are AI bank feeds helping—or just creating more work? Blake and David unpack Intuit’s missteps, why “use AI to make the rules” matters, and how a no‑code agent now posts multi‑line bills to Xero. They demo Excel’s new "copilot()" function, share how FP&A roles are shifting, and hit headlines from Barstool’s lawsuit to tariffs and Gusto’s Guideline deal. You’ll leave with practical ways to deploy AI, avoid hidden risks, and boost margins.

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• (00:43) - Planning with AI

Show Notes

Bring AI to your formulas with the COPILOT function in Excel
https://techcommunity.microsoft.com/blog/microsoft365insiderblog/bring-ai-to-your-formulas-with-the-copilot-function-in-excel/4443487

FP&A pros anticipate AI-driven headcount reductions
https://www.accountingtoday.com/news/fp-a-pros-anticipate-ai-driven-headcount-reductions

President Trump Ends Unfair "De Minimis" Tariff Exemption, A Major Victory in Securing the Homeland https://www.dhs.gov/news/2025/07/31/president-trump-ends-unfair-de-minimis-tariff-exemption-major-victory-securing

Fact Sheet: President Donald J. Trump is Protecting the United States' National Security and Economy by Suspending the De Minimis Exemption for Commercial Shipments Globally
https://www.whitehouse.gov/fact-sheets/2025/07/fact-sheet-president-donald-j-trump-is-protecting-the-united-states-national-security-and-economy-by-suspending-the-de-minimis-exemption-for-commercial-shipments-globally/

Barstool Sports Sues Accounting Firm Over Unpaid Advertising Bills
https://www.sportico.com/law/analysis/2025/barstool-omega-accounting-solutions-advertising-lawsuit-1234868719/

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Transcripts

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

Can AI agents actually reduce your workload—or just add hype? Blake demos how he rebuilt bill-entry “Hubdoc-style” in about an hour with Zapier Agents, then maps out why most AI pilots fail without documented workflows and human approvals. Plus: PwC’s plan to hire one-third fewer grads, juniors supervising AI, HMRC scanning social posts for tax gaps, and fresh salary and pricing benchmarks. Learn where AI truly fits—and how to price with confidence.

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• (05:36) - AI Agents: Hype vs. Reality

Show Notes

The GenAI Divide: State of AI in Business 2025 (MIT NANDA Report)
https://fortune.com/2025/08/18/mit-report-95-percent-generative-ai-pilots-at-companies-failing-cfo/

Getting a job at PwC out of college will be a lot tougher. It plans to recruit a third fewer grads by 2028
https://www.aol.com/getting-job-pwc-college-lot-120316405.html

HMRC uses AI to spot tax fraud on social media
https://www.accountancyage.com/2025/08/12/hmrc-uses-ai-to-spot-tax-fraud-on-social-media/

The 2025 Accounting Today Salary Survey: Sweetening the deal
https://www.accountingtoday.com/news/the-2025-accounting-today-salary-survey-sweetening-the-deal

2025 U.S. Accounting and Tax Pricing Benchmark (Ignition)
https://www.ignitionapp.com/us/2025-accounting-tax-pricing-benchmark

TaxDome Releases First-of-Its-Kind 2025 Niche Business Accounting Report
https://www.morningstar.com/news/pr-newswire/20250819ph53815/taxdome-releases-first-of-its-kind-2025-niche-business-accounting-report

2025 Niche Business Accounting Report (TaxDome)
https://taxdome.com/niche-report-2025

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Transcripts

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

Can an AI reconcile your books while you sleep? Blake and David run a live experiment with ChatGPT-5’s Agent Mode in Xero—watching it match transactions, stumble on prepayments, and reveal what’s realistically automatable today. They also break down a flood of app news: Dext's bill pay, Ramp’s mega raise, Thomson Reuters and Deloitte’s agentic AI, plus Ignition–Financial Cents and Canopy portal moves. They dig into survey findings showing that 58% of employees are secretly using AI at work despite company bans, and take a look at how AI is disrupting the job market for college graduates.

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• (01:32) - Exploring AI in Accounting

Show Notes

Product Specialist-Accounting,AI - Xero

https://builtinlondon.uk/job/product-specialist-accounting-ai/6683466

Rillet raises $70M to replace 20th-century accounting software with AI-native ERP built by accountants

https://www.globenewswire.com/news-release/2025/08/06/3128328/0/en/Rillet-raises-70M-to-replace-20th-century-accounting-software-with-AI-native-ERP-built-by-accountants.html

AI accounting startup Rillet raises $70 million in Andreessen Horowitz, ICONIQ-led round

https://www.investing.com/news/economy-news/ai-accounting-startup-rillet-raises-70-million-in-andreessen-horowitz-iconiqled-round-4172975

Ramp Raises $500 Million at $22.5 Billion Valuation to Accelerate AI and Build the Future of Finance

https://www.prnewswire.com/news-releases/ramp-raises-500-million-at-22-5-billion-valuation-to-accelerate-ai-and-build-the-future-of-finance-302516953.html

Ramp hits $22.5B valuation just 45 days after reaching $16B

https://techcrunch.com/2025/07/30/ramp-hits-22-5b-valuation-just-45-days-after-reaching-16b/

IRS, White House clashed over immigrants' data before Billy Long was ousted

https://www.washingtonpost.com/business/2025/08/09/trump-administration-irs-data-dispute/

Trump replaces IRS Commissioner Billy Long with Scott Bessent

https://www.washingtonpost.com/business/2025/08/08/billy-long-irs-commissioner-bessent/

Trump ousts Billy Long as IRS commissioner, names Bessent acting head

https://www.cnn.com/2025/08/08/politics/billy-long-ousted-irs-commissioner

IRS Chief Forced Out After Immigrant Tax Data Pushback—Report

https://www.newsweek.com/irs-chief-forced-immigrant-tax-data-pushback-report-2111292

Billy Long's IRS ouster follows clashes with Treasury, sparks concern

https://thehill.com/homenews/administration/5449180-treasury-clashes-irs-commissioner/

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Want to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to c...

Blake and David discuss how both AICPA and NASBA have officially endorsed a 120-hour CPA licensure pathway in the ninth edition of the Uniform Accountancy Act, validating Blake's long-standing advocacy against the 150-hour requirement. They also examine Baker Tilly's policy, which requires CPAs to remove their designations from email signatures and LinkedIn profiles due to alternative practice structures. They move on to the launch of GPT-5, praising its improved integration but noting concerning chart errors in OpenAI's presentation and ongoing hallucination issues. Rounding things out, they also discuss Trump's firing of newly-appointed IRS Commissioner Billy Long after just weeks in office, comparing it to his dismissal of the Bureau of Labor Statistics head over unfavorable job revision data.

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• (00:41) - AICPA and NASBA owe Blake an apology

Show Notes

NASBA, AICPA give blessing to 120-hour CPA pathway

https://www.cfo.com/news/governing-bodies-of-accounting-give-blessing-to-120-hour-cpa-requirement/754033/
 
AICPA and NASBA Approve Model Legislation for New CPA Licensure Path

https://nasba.org/blog/2025/05/13/aicpa-and-nasba-approve-model-legislation-for-new-cpa-licensure-path/

NASBA and AICPA Publish Ninth Edition of the Uniform Accountancy Act (UAA)

https://nasba.org/blog/2025/07/22/nasba-and-aicpa-publish-ninth-edition-of-the-uniform-accountancy-act-uaa/

Alaska Becomes the Latest State to Offer an Alternate CPA Pathway, With No Help From the Governor

https://www.goingconcern.com/alaska-becomes-the-latest-state-to-offer-an-alternate-cpa-pathway-with-no-help-from-the-governor/

CPA requirements by state

https://www.cfo.com/news/cpa-requirements-by-state-cfo-accounting-updates-changes-150-hour/740328/

Baker Tilly Secures Private Equity Investment in Largest CPA Transaction to Date

https://insidepublicaccounting.com/2024/02/05/baker-tilly-secures-private-equity-investment-in-largest-cpa-transaction-to-date/

Trump ousts Billy Long as IRS commissioner, names Bessent acting head

https://www.cnn.com/2025/08/08/politics/billy-long-ousted-irs-commissioner

IRS Commissioner Billy Long replaced after less than two months

https://www.npr.org/2025/08/08/nx-s1-5496549/irs-billy-long-trump

Trump removes Billy Long as IRS commissioner, giving him the shortest-ever tenure in the role

https://federalnewsnetwork.com/management/2025/08/trump-removes-billy-long-as-irs-commisioner-less-than-2-months-after-his-confirmation/

OpenAI botches the charts in GPT-5 introduction

https://flowingdata.com/2025/08/07/openai-botches-the-charts-in-gpt-5-introduction/

GPT-5 Launch Demo Plagued With Catastrophically Dumb Errors

https://futurism.com/gpt-5-demo-dumb-errors

Sam Altman addresses 'bumpy' GPT-5 rollout, bringing 4o back, and the 'chart crime'

https://techcrunch.com/2025/08/08/sam-altman-addresses-bumpy-gpt-5-rollout-bringing-4o-back-and-the-chart-crime/

Introducing GPT-5

https://openai.com/index/introducing-gpt-5/

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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.

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What happens when the traditional path from college to accounting career gets disrupted by AI and automation? This week, Blake and David explore who's most likely to quit accounting firms (hint: it's the middle managers), why wages are rising while jobs disappear, and how one college is revolutionizing accounting education. You'll discover which employees are happiest and most miserable in accounting, learn why ChatGPT conversations could be used against you in court, and hear from Nicole Wetter about Green River College's innovative applied accounting program that puts students in real internships while teaching them AI tools alongside traditional skills.

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• (00:48) - AI in Accounting: Opportunities and Limitations

Show Notes

Who's most likely to leave your accounting firm?

https://www.accountingtoday.com/news/whos-most-likely-to-leave-your-accounting-firm

Sam Altman warns there's no legal confidentiality when using ChatGPT as a therapist

https://techcrunch.com/2025/07/25/sam-altman-warns-theres-no-legal-confidentiality-when-using-chatgpt-as-a-therapist/

OpenAI to appeal New York Times copyright case over user data preservation

https://www.foxbusiness.com/technology/openai-appeal-copyright-ruling-ny-times-case-altman-calls-ai-privilege

How we're responding to The New York Times' data demands in order to protect user privacy

https://openai.com/index/response-to-nyt-data-demands/

'I don't care about Direct File': IRS chief says agency plans to end free filing program

https://www.cnbc.com/2025/07/30/irs-chief-says-agency-plans-to-end-free-direct-file-program.html

IRS Chief Says Direct File Is 'Gone,' Other Audit Tech Is Coming

https://news.bloombergtax.com/daily-tax-report/irs-chief-says-direct-file-is-gone-other-audit-tech-is-coming

New commissioner confident IRS can implement OBBBA's tax provisions

https://www.journalofaccountancy.com/news/2025/jul/new-commissioner-confident-irs-can-implement-obbbas-tax-provisions/

Continuing Epstein Investigation, Wyden Probes IRS's Failure to Investigate Sex Trafficker's Highly Lucrative Tax Planning Work

https://www.finance.senate.gov/ranking-members-news/continuing-epstein-investigation-wyden-probes-irss-failure-to-investigate-sex-traffickers-highly-lucrative-tax-planning-work

Wyden probes IRS failure to investigate Jeffrey Epstein's tax planning

https://www.accountingtoday.com/news/wyden-probes-irs-failure-to-investigate-jeffrey-epsteins-tax-planning

As Trump Sits on Key Epstein Files, Wyden Lays Out "Follow the Money" Investigation for DOJ

https://www.finance.senate.gov/ranking-members-news/as-trump-sits-on-key-epstein-files-wyden-lays-out-follow-the-money-investigation-for-doj

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Thanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.

Sponsorships

Are you interested in sponsoring The Accounting Podcast? For details, read the prospectus.

Need Accounting Conference Info? 

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