The Accounting Podcast

Think AI will free you from ‘mundane bookkeeping’ so you can do advisory? Blake and David say it’s the opposite. Hear how owners already use AI as a de facto CFO, why drafting narratives—not matching bank feeds—is the real win, what the ‘AI premium’ means in a billable-hour world, and the two numbers firm owners should track in 2026: monthly recurring revenue and bottom-line profit.

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• (01:35) - News Highlights and Sponsor Acknowledgements

Show Notes

These Small-Business Owners Are Putting AI to Good Use
https://www.wsj.com/tech/ai/small-business-ai-chatgpt-prompts-0c9a95c4

AI Thought Leaders Survey 2026: Process Predictions
https://www.accountingtoday.com/list/ai-thought-leaders-survey-2026-process-predictions

Tech Spending Outpacing People Spending as Firms Adopt AI
https://www.accountingtoday.com/list/tech-spending-outpacing-people-spending-as-firms-adopt-ai

How Much is the 'AI Premium?' 

https://www.accountingtoday.com/list/how-much-is-the-ai-premium

AI Can't Replace Accountants. When Could It? 

https://www.accountingtoday.com/list/ai-cant-replace-accountants-when-could-it

Accounting in 2026: The Year Ahead in Numbers
https://www.accountingtoday.com/list/accounting-in-2026-the-year-ahead-in-numbers

AI Vending Machine Lost $1,000 to Social Engineering
https://www.wsj.com/tech/ai/anthropic-ai-claude-vending-machine-c7baef6f

Anthropic's Project Vend Phase 2 

https://www.anthropic.com/research/project-vend-2

Trump Commutes Sentence of Private Equity CEO Convicted of Fraud
https://www.cnn.com/2025/12/01/politics/david-gentile-trump-pardon

Trump Commutes 7-Year Prison Sentence of Former Private Equity CEO David Gentile
https://www.nbcnews.com/politics/white-house/trump-commutes-7-year-prison-sentence-former-private-equity-ceo-david-rcna246744

California's Controversial Wealth Tax Proposal Leaves Billionaires With Little Way Out
https://www.cnbc.com/2026/01/08/california-wealth-tax-proposal-leaves-billionaires-with-little-way-out.html

California Could Impose a Billionaire Tax. Here's How It Would Work
https://www.cbsnews.com/news/california-billionaire-tax-ballot-initiative-how-it-works/

New Tax on the Wealth of Billionaires 

https://lao.ca.gov/BallotAnalysis/Initiative/2025-024

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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

How does $95 million go missing at a bank—and still get a clean audit? Blake and David unpack the Evolve Bank/Synapse meltdown, what auditors missed, and how SOC reports fall short. Plus: the penny shortage pushing cash rounding at the register, the shocking stat that even 29% of partners don’t know partner pay, and the case for semiannual reporting. Walk away with practical takeaways for clients, staff, and your own firm.

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• (00:44) - The Penny Shortage Crisis

Show Notes

Square Enables Penny Rounding 

https://squareup.com/us/en/press/penny-rounding

CFPB Allocates $46 Million To Synapse/Evolve Victims In First-Ever Fintech Bailout 

https://fintechbusinessweekly.substack.com/p/cfpb-allocates-46-million-to-synapseevolve

The 2025 Accounting Today Salary Survey 

https://www.accountingtoday.com/list/the-2025-accounting-today-salary-survey

The Ultimate 2026 Accounting Salary Guide 

https://blog.workday.com/en-us/ultimate-2026-accounting-salary-guide.html

Deloitte's CTO: companies are spending 93% on tech and only 7% on people and that has to change 

https://fortune.com/2025/12/15/deloitte-cto-bill-briggs-what-really-scares-ceos-about-ai-human-resources/

Accounting firm waited 18 months to announce breach 

https://cybernews.com/security/sax-data-breach-quarter-million-exposed/

Should Public Companies Move to Semi-Annual Reporting? 

https://www.cpajournal.com/2025/12/19/should-public-companies-move-to-semi-annual-reporting/

United States Mint Hosts Historic Ceremonial Strike for Final Production of the Circulating One-Cent Coin 

https://www.usmint.gov/news/press-releases/united-states-mint-hosts-historic-ceremonial-strike-for-final-production-of-the-circulating-one-cent-coin

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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

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.

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• (00:56) - Private Equity in Accounting Firms

Show Notes

PE in accounting firms: From 'dumpster fire' to excitement

https://www.accountingtoday.com/news/pe-in-accounting-firms-from-dumpster-fire-to-excitement

Andersen Group Shares Gain 47% After $176 Million US IPO

https://www.bloomberg.com/news/articles/2025-12-17/andersen-group-shares-jump-34-after-176-million-us-ipo

Andersen goes public, hits $2.6B valuation

https://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 companies

https://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 Study

https://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 Jail

https://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 Time

https://cpatrendlines.com/2025/12/02/accounting-firms-must-stop-charging-for-time/

Dirty money gangster jailed over plot worth almost £12m

https://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 Issues

https://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 IRS

https://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-irs

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• (00:47) - Jeffrey Epstein's CPA and Lawyer

Show Notes

The 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-secrets

Taking a gamble on prediction market taxation
https://www.accountingtoday.com/news/taking-a-gamble-on-prediction-market-taxation

Lawyer sues IRS to recognize pets as dependents
https://www.accountingtoday.com/news/lawyer-sues-irs-to-recognize-pets-as-dependents

SEC Charges Shiloh Luckey
https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26424

The 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-quickbooks

Intuit 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-stablecoins

AI Is Reshaping Accounting Jobs by Doing the "Boring" Stuff
https://www.gsb.stanford.edu/insights/ai-reshaping-accounting-jobs-doing-boring-stuff

Human + AI in Accounting: Early Evidence from the Field
https://www.gsb.stanford.edu/faculty-research/working-papers/human-ai-accounting-early-evidence-field

IRS-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-results

IRS Criminal Investigation uncovers $10.6B in financial crimes
https://www.accountingtoday.com/news/irs-criminal-investigation-uncovers-10-6b-in-financial-crimes

Dext 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-accountants

Trump 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.html

OPM Launches US Tech Force to Implement President Trump's Vision for Technology Leadership

https://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-Productivity

Zoho announces enterprise billing, spend management products
https://www.accountingtoday.com/news/zoho-announces-enterprise-billing-spend-management-products

Zoho 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-Scale

AI giving scammers new tricks, enhancing old ones
https://www.accountingtoday.com/news/ai-giving-scammers-new-tricks-enhancing-old-ones

From 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-fears

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.

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• (01:15) - New Tax Deduction for Digital Content Creators

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

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.

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• (00:00) - Introduction and Podcast Overview

Show Notes

Department of Education Accounting Professional Degree Classification
https://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 plan

https://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 Threats

https://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 Network

https://medialabs.intuit.com/

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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.

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• (01:14) - Listener Mailbag: Top Messages of the Year

Show Notes

Companies 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 House

https://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/

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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 breaks down how AI can help with cost segregation and explains why AI currently works best on tasks that take humans 2-5 minutes. Michael Burry is betting against AI companies, claiming they're manipulating earnings by stretching server depreciation from 3-4 years to 5-6 years, adding billions to their bottom lines. Also covered: Intuit's $100 million annual OpenAI deal to integrate QuickBooks and TurboTax into ChatGPT, new bank evidence in the Rippling corporate espionage case, and a survey showing 10% of adults are acting on AI tax advice despite error rates up to 50%.

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• (00:00) - Welcome to The Accounting Podcast

Show Notes

AI Is Now a First Stop for Tax and Investing Questions - CPAs Need a Playbook Fast
https://www.cpapracticeadvisor.com/2025/10/29/ai-is-now-a-first-stop-for-tax-and-investing-questions-cpas-need-a-playbook-fast/171939/

19% lost $100 or more on bad AI financial advice

https://www.accountingtoday.com/news/19-lost-100-or-more-on-bad-ai-financial-advice

Intuit to pay OpenAI over $100 million for model access, ChatGPT integrates with TurboTax

https://www.cnbc.com/2025/11/18/intuit-pays-openai-100-million-turbotax-integrates-chatgpt.html

Intuit Strikes $100M Deal to Bring TurboTax and QuickBooks Into ChatGPT

https://www.eweek.com/news/intuit-100m-chatgpt-deal/

Intuit signs $100M+ deal with OpenAI to bring its apps to ChatGPT

https://techcrunch.com/2025/11/18/intuit-signs-100m-deal-with-openai-to-bring-its-apps-to-chatgpt/

Intuit and OpenAI join forces on new AI-powered experiences

https://openai.com/index/intuit-partnership/

'Big Short' investor Michael Burry accuses AI hyperscalers of artificially boosting earnings

https://www.cnbc.com/2025/11/11/big-short-investor-michael-burry-accuses-ai-hyperscalers-of-artificially-boosting-earnings.html

Michael Burry Hits Back At Critics: Accuses AI Companies Of 'Suspicious Revenue Recognition' And Depreciation Gimmicks: 'Fraud, Not A Flywheel'

https://www.benzinga.com/markets/hedge-funds/25/11/48967194/michael-burry-hits-back-at-critics-accuses-ai-companies-of-suspicious-revenue-recognition-and-depreciation-gimmicks-fraud-not-a-flywheel

Fireside chat with PCAOB acting chair George Botic

https://www.accountingtoday.com/opinion/fireside-chat-with-pcaob-acting-chair-george-botic

New Banking Records Prove Deel Paid Thief Who Stole Trade Secrets from Rippling

 https://www.rippling.com/blog/new-banking-records-prove-deel-paid-thief-who-stole-trade-secrets-from-rippling

Newly unsealed documents tie Deel to payments for alleged Rippling spy, while Deel points to witness incentives

https://www.calcalistech.com/ctechnews/article/h1ysgtng11l

FASB Says Certain Costs of Leases Standard Were Significantly Higher Than Expected

https://www.cpapracticeadvisor.com/2025/11/20/fasb-says-certain-costs-of-lease-accounting-standard-were-significantly-higher-than-expected/173680/

FASB finds leases standard was costlier than expected

https://www.accountingtoday.com/news/fasb-finds-leases-standard-was-costlier-than-expected

NJ's once-stalled CPA licensing bill advances after 'surprise' vote

https://www.cfodive.com/news/njs-once-stalled-cpa-licensing-bill-advances-surprise-vote-accounting/805589/

Indigenous accounting and exchange at Monte Sierpe ('Band of Holes') in the Pisco Valley, Peru

https://www.cambridge.org/core/journals/antiquity/article/indigenous-accounting-and-exchange-at-monte-sierpe-band-of-holes-in-the-pisco-valley-peru/41D83389D230D99CFF18194CF274A9A3

Peru's ancient 'band of holes' mystery may be solved

https://edition.cnn.com/2025/11/21/science/peru-band-of-holes-mystery

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Earmark Media Presents a bonus episode of Earmark Podcast:

Live from Boston on the final stop of the Advisory Amplified tour, Blake sits down with James Erving from Fathom and Chris Macksey from Prix Fixe Accounting to explore what advisory services really mean beyond bookkeeping and compliance. Chris shares how his firm requires advisory for all restaurant clients, using industry expertise and operational metrics to guide decisions on everything from menu pricing to expansion timing. The conversation covers the difference between delivering information versus being integral to decision-making, with insights on forecasting, benchmarking, and why visual KPIs help clients with low financial literacy understand their business performance.

Meet Our Guests

James Erving

LinkedIn: https://www.linkedin.com/in/jameserving/

Learn more about Fathom

Official website: http://fathomhq.com

Chris Macksey

LinkedIn: https://www.linkedin.com/in/cmacksey/

Learn more about Prix Fixe Accounting

Official website: https://prixfixe.accountants/

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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

Earmark Media Presents a bonus episode of Earmark Podcast:

On the fifth stop of the Advisory Amplified tour in Atlanta, Blake sits down with Lisa Gilreath of Acuity and Valerie Heckman of OnPay to discuss what empathetic leadership actually looks like in an industry notorious for long hours and tight deadlines. The conversation covers everything from recognizing when team members are struggling to handling toxic high performers, with real talk about building slack into capacity planning and why unused PTO is a red flag. Lisa and Valerie share concrete steps for creating a culture where people feel supported enough to lean in when it matters most.

Meet Our Guests

Valerie Heckman

LinkedIn: https://www.linkedin.com/in/valerieheckman/

Learn more about OnPay

Official website: https://onpay.com

Lisa Gilreath

LinkedIn: https://www.linkedin.com/in/lisa-gilreath-2ba506a/

Learn more about Sorren

Official website: https://sorren.com/

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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

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Need Accounting Conference Info? 

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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