The Accounting Podcast

By Blake Oliver & David LearyNews News Commentary Business News

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The Accounting Podcast episodes

July 23, 2025The $2T Stablecoin Opportunity for CPAs & Agentic AI in the Browser
What happens when a $2 trillion cryptocurrency market suddenly requires monthly audits? Blake and David break down the Genius Act, the new federal stablecoin legislation that just created a massive opportunity for auditors—but also potentially recreated the chaotic "wildcat banking" era of the 1800s. You'll learn why every stablecoin issuer now needs monthly attestation reports and annual audits, creating hundreds of new recurring revenue streams for accounting firms willing to take on the risk. Plus, they explore whether there are enough auditors to actually make this system work, and what happens if quantum computing breaks cryptocurrency security. The episode also covers PCAOB leadership changes under the new administration, live-tests AI agents trying to enter invoices (spoiler: it's messier than the hype suggests), and updates on the 23 states now offering alternative CPA pathways.
Sponsors
Missive - http://accountingpodcast.promo/missive
Relay - http://accountingpodcast.promo/relay
Cloud Accountant Staffing - http://accountingpodcast.promo/cas

Chapters
(01:17) - AI in Accounting: Browser Integration
(02:35) - Major News: The Genius Act and Its Implications
(03:38) - Sponsor Shoutouts and Livestream Interaction
(05:06) - Audit News: Erica Williams and PCAOB Changes
(08:27) - Federal Audit Failures and OMB's Strategic Reset
(09:48) - AICPA's New Fraud Detection Standards
(12:52) - Sponsor Highlight: Missive
(15:38) - Fraud Case Study: Christine Hunsicker's $300M Scam
(20:08) - Deep Dive: The Genius Act and Stablecoins
(41:21) - The Risk of Stablecoins and Financial Contagion
(42:07) - Quantum Computing Threat to Bitcoin
(42:38) - The Challenge of Upgrading Cryptocurrency Systems
(43:22) - Summary and Predictions for Accounting Firms
(43:38) - Fraud in the Traditional Banking System
(44:08) - Relay: The Small Business Banking Solution
(45:43) - Pig Butchering: A Growing Fraud Problem
(48:05) - The Case for a Federal Stablecoin
(50:26) - Alternative Pathways for CPA Licensure
(52:02) - Decline in CPA Licenses and Modernizing Education
(54:59) - Cloud Accountant Staffing: Solving the Labor Shortage
(56:01) - Agentic AI: The Future of Automation
(59:13) - Challenges and Potential of AI in Accounting
(01:02:31) - The Role of AI in Data Entry and Research
(01:17:53) - Conclusion and Final Thoughts

Show Notes
Trump signs landmark GENIUS Act, hailing "exciting new frontier" for crypto - CBS News
https://www.cbsnews.com/news/trump-signs-genius-act-crypto-bill/
Fact Sheet: President Donald J. Trump Signs GENIUS Act into Law – The White House
https://www.whitehouse.gov/fact-sheets/2025/07/fact-sheet-president-donald-j-trump-signs-genius-act-into-law/

Stablecoin regulation bill heads to Trump's desk
https://www.axios.com/2025/07/17/house-passes-genius-act-stablecoins-trump

A 'Crypto Week' win: Congress passes 1st major crypto legislation in the U.S.
https://www.npr.org/2025/07/17/nx-s1-5451413/crypto-week-stablecoin-genius-act-trump

GENIUS Act Passes in US Congress: A Breakdown of the Landmark Stablecoin Law – Publications https://www.morganlewis.com/pubs/2025/07/genius-act-passes-in-us-congress-a-breakdown-of-the-landmark-stablecoin-law

Erica Williams Resigns as PCAOB Chair - CPA Practice Advisor
https://www.cpapracticeadvisor.com/2025/07/15/erica-williams-resigns-as-pcaob-chair/164956/

PCAOB chair Erica Williams steps down | Accounting Today
https://www.accountingtoday.com/news/pcaob-chair-erica-williams-steps-down

SEC.gov | Statement Regarding Tenure of Erica Williams at the PCAOB
https://www.sec.gov/newsroom/speeches-statements/atkins-statement-erica-williams-pcaob-071505

Southern District of New York | CaaStle Founder Charged In $300 Million Fraud Scheme | United States Department of Justice https://www.justice.gov/usao-sdny/pr/caastle-founder-charged-300-million-fraud-scheme

The surprising details of fashion entrepreneur Christine Hunsicker's fraud indictment- Fast Company https://www.fastcompany.com/91371881/the-surprising-details-of-fashion-entrepreneur-christine-hunsickers-fraud-indictment

Fashion startup founder Christine Hunsicker accused of cheating investors out of over $300 million - CBS News https://www.cbsnews.com/news/christine-hunsicker-charged-fraud-300-million-fashion-startup-founder/

States move beyond the 150-hour rule for CPA licensure | Accounting Today
https://www.accountingtoday.com/list/states-move-beyond-the-150-hour-rule-for-cpa-licensure

Tracking CPA licensure paths: Removing the 150-hour-rule hurdle | CFO Dive
https://www.cfodive.com/news/broadening-cpa-licensure-paths-marching-beyond-150-hour-rule-accounting-talent-shortage/745282/

The rise and fall of the 150-hour rule
https://www.cfobrew.com/stories/2025/04/10/the-rise-and-fall-of-the-150-hour-rule

AICPA, NASBA approve alternatives to the 150-hour rule
https://www.cfobrew.com/stories/2025/05/15/aicpa-nasba-approve-alternatives-to-the-150-hour-rule

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1 hr 22 min
July 17, 2025The Losers of AI & What CPAs Need to Know About OBBBA
Why is AI failing at basic accounting tasks while claiming to outsmart PhD students? Blake and David dive into the stark reality of AI implementation in accounting, from Ramp's promising new expense management agents to QuickBooks' baffling suggestion to credit and debit the same account. You'll discover the critical security vulnerabilities in AI systems and learn why clients are increasingly using AI to fact-check their accountants' advice. Plus, get a comprehensive breakdown of the top 10 tax planning opportunities in the One Big, Beautiful Bill Act—from permanent 100% bonus depreciation to Trump accounts for children. The hosts also explore which companies will be AI's biggest losers and why the future of accounting lies in financial management, not advisory services.
Sponsors
OnPay - http://accountingpodcast.promo/onpay
Cloud Accountant Staffing - http://accountingpodcast.promo/cas
Keeper - http://accountingpodcast.promo/keeper

Chapters
(00:30) - The Big Beautiful Bill: Tax Provisions Overview
(01:53) - AI in Accounting: RAMP's New AI Agents
(02:56) - QuickBooks AI Agents: Frustrations and Feedback
(06:05) - RAMP's AI Agents: Features and Benefits
(14:38) - AI's Impact on Employment: Winners and Losers
(20:54) - Grok 4: The Future of AI in Accounting
(36:53) - Juno and Tax Prep Automation
(37:52) - The Rise of AI in Cyber Attacks
(38:26) - Social Engineering and AI
(39:18) - Hidden AI Prompts in Academic Papers
(41:25) - AI Security Risks and Internal Controls
(45:45) - The Accountant's Labor Shortage
(46:59) - Tax Planning Opportunities in the New Bill
(56:29) - The Impact of the New Tax Bill
(01:00:45) - Final Thoughts and Wrap-Up
Show Notes
Ramp agents: Let finance teams do finance
https://ramp.com/blog/ramp-agents-announcement

Microsoft shares $500M in AI savings internally days after cutting 9,000 jobs
https://techcrunch.com/2025/07/09/microsoft-shares-500m-in-ai-savings-internally-days-after-cutting-9000-jobs/
Indeed, Glassdoor to lay off 1300 staff amid AI push
https://techcrunch.com/2025/07/11/indeed-glassdoor-to-lay-off-1300-staff/
Workday Stock Takes A Hit After Piper Sandler Survey Flags AI-Driven Headwinds, But Retail's Optimistic
https://stocktwits.com/news-articles/markets/equity/workday-stock-takes-a-hit-after-piper-sandler-survey-flags-ai-driven-headwinds/ch8GfqaR5kY
Elon Musk's xAI launches Grok 4 alongside a $300 monthly subscription
https://techcrunch.com/2025/07/09/elon-musks-xai-launches-grok-4-alongside-a-300-monthly-subscription/
Hidden AI prompts in academic papers spark concern about research integrity
https://www.japantimes.co.jp/news/2025/07/04/japan/ai-research-prompt-injection/
Tax provisions in the One Big Beautiful Bill Act
https://www.journalofaccountancy.com/news/2025/jun/tax-changes-in-senate-budget-reconciliation-bill/
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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
Are you interested in sponsoring The Accounting Podcast? For details, read the prospectus.

Need Accounting Conference Info?
Check out our new website - accountingconferences.com

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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
1 hr 15 min
July 10, 2025When AI Decides Who Gets Promoted & Who's Going to Tax Prom?
What happens when AI decides who gets promoted and who gets fired? Blake and David dive into the shocking reality that 60% of managers now use AI for HR decisions, with over 20% letting algorithms make final calls without human oversight. They explore a Stanford study revealing that tax preparers are the #1 profession seeking automation, but only for basic calendar scheduling. Plus, discover why young Americans now rank health over wealth as their top measure of success, and how this generational shift is reshaping talent recruitment in accounting.
Sponsors
Cloud Accountant Staffing - http://accountingpodcast.promo/cas
Keeper - http://accountingpodcast.promo/keeper

Chapters
(01:27) - Tax Prom: The Must-Attend Event
(04:15) - AI in HR: Promotions and Firings
(08:48) - AI in the Workplace: Automation and Worker Preferences
(13:32) - AI Adoption and Security Concerns
(18:21) - AI Training and Education in Firms
(24:01) - Armanino's New AI-Powered Data Warehouse
(33:07) - The Annoying Know-It-All Employee
(33:18) - The Perfect AI Assistant
(34:32) - Young People's Values on Success
(37:39) - Global Perspectives on Success
(40:07) - The Talent Shortage in Accounting
(41:54) - Unlimited PTO and Burnout
(45:37) - Tariffs Update
(49:26) - The Big Beautiful Bill
(01:02:36) - IRS Staffing Cuts and Refund Delays
(01:07:10) - Conclusion and CPE Information
Show Notes

Half of Managers Use AI To Determine Who Gets Promoted and Fired
https://www.resumebuilder.com/half-of-managers-use-ai-to-determine-who-gets-promoted-and-fired/

Future of Work with AI Agents
https://futureofwork.saltlab.stanford.edu/
Future of Work with AI Agents: Auditing Automation and Augmentation Potential across the U.S. Workforce
https://arxiv.org/abs/2506.06576

What workers really want from artificial intelligence
https://hai.stanford.edu/news/what-workers-really-want-from-artificial-intelligence

Big 4 Firm Discovers That Bragging About AI Efficiencies Leads Clients to Expect a Discount
https://www.goingconcern.com/big-4-firm-discovers-that-bragging-about-ai-efficiencies-leads-clients-to-expect-a-discount/

Monday Morning Accounting News Brief: PwC Clients Ask For an AI Discount; Big 4 Firms Losing Hundreds of Partners
https://www.goingconcern.com/monday-morning-accounting-news-brief-pwc-clients-ask-for-an-ai-discount-big-4-firms-losing-hundreds-of-partners-6-30-25/

Armanino planning data warehouse service, used AI for development
https://www.accountingtoday.com/news/armanino-planning-data-warehouse-service-used-ai-to-help-development

Bolt’s millennial founder has just ‘killed’ its unlimited PTO perk because it was actually causing burnout
https://fortune.com/2025/07/02/bolt-millennial-founder-ceo-ryan-breslow-killed-unlimited-pto-burnout-mandatory-four-weeks-paid-vacation-fintech-startup/

Agentic Misalignment: AI Agents in Corporate Environments
https://www.anthropic.com/research/agentic-misalignment

Relationships, health and financial stability are the defining priorities for Gen Z, according to new EY survey
https://www.ey.com/en_gl/newsroom/2025/05/relationships-health-and-financial-stability-are-the-defining-priorities-for-gen-z-according-to-new-ey-survey

2025 Technology Perceptions Survey
https://www.intapp.com/2025-tech-perceptions-survey/

Trust, attitudes and use of artificial intelligence
https://kpmg.com/us/en/articles/2025/trust-attitudes-and-use-of-artificial-intelligence.html

Tax Foundation Tax Prom 2025
https://taxprom.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
Are you interested in sponsoring The Accounting Podcast? For details, read the prospectus.

Need Accounting Conference Info?
Check out our new website - accountingconferences.com

Limited edition shirts, stickers, and other necessities
TeePublic Store: http://cloudacctpod.link/merch

Subscribe
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Want to get the word out about your newsletter, webinar, party, Facebo...
1 hr 9 min
July 03, 2025Xero Buys Melio, QuickBooks AI Agents Are Here, More Big Four Cheating
What happens when AI agents promise to transform accounting but create more cognitive burden than productivity gains? Blake and David explore the reality behind the AI agent hype as QuickBooks, Digits, and Big Four firms launch their "digital teammates." They also dig into Xero's massive $2.5 billion acquisition of Melio and what it means for the payments landscape. You'll learn why managing AI agents might be like managing offshore contractors—you wake up to work that's 80% done but everyone has questions. Plus, they discuss how external investors are reshaping the profession, why traditional CPA protections might go the way of car dealership laws, and the ongoing problems with audit quality enforcement despite millions in PCAOB fines.

Sponsors
Cloud Accountant Staffing - http://accountingpodcast.promo/cas
Human at Scale - http://accountingpodcast.promo/human

Chapters
(00:00) - Introduction and Welcome
(00:42) - David's Return and Big News
(01:01) - The Acquisition of Emilio by Xero
(01:33) - Implications of the Acquisition
(04:52) - David's Journey with Bill Pay Solutions
(06:42) - Emilio's Unique Features and Market Impact
(09:46) - Xero's New Features and Updates
(18:57) - QuickBooks AI Agents: A Game Changer?
(29:22) - Digits AI Agents and Their Potential
(33:42) - Big Firms Investing in AI
(36:31) - Managing AI Agents: The New Workforce
(37:52) - Cognitive Load and Productivity Limits
(39:28) - Infinite Workdays and AI's Role
(41:31) - AI in Accounting: Potential and Pitfalls
(43:13) - AI Spending Trends and Future Outlook
(44:01) - Building AI Workflows and Multi-Agent Systems
(46:06) - Big Four and AI Integration
(47:37) - AI-Powered Pricing and Payment Solutions
(53:32) - VC-Backed AI Rollups in Accounting
(57:13) - Regulatory Challenges and Industry Changes
(01:04:36) - Audit Quality and PCAOB Fines
(01:14:17) - Conclusion and CPE Information
Show Notes
Xero to acquire Melio, a leading US SMB bill pay solution, to accelerate global growth
https://www.prnewswire.com/news-releases/xero-to-acquire-melio-a-leading-us-smb-bill-pay-solution-to-accelerate-global-growth-302490268.html

New Zealand's Xero to buy US fintech Melio for up to $3 billion | Reuters
https://www.reuters.com/legal/transactional/australia-listed-xero-acquire-fintech-melio-over-25-billion-deal-2025-06-24/

Intuit Introduces Ground-Breaking Virtual Team of AI Agents to Fuel Growth for Businesses
https://investors.intuit.com/news-events/press-releases/detail/1258/intuit-introduces-ground-breaking-virtual-team-of-ai-agents-to-fuel-growth-for-businesses
Intuit debuts AI agents for QuickBooks | Accounting Today
https://www.accountingtoday.com/news/intuit-debuts-ai-agents-for-quickbooks

How AI is improving accounting efficiency – without replacing jobs | Stanford Report
https://news.stanford.edu/stories/2025/06/ai-accounting-bookkeeping-benefits-jobs
AI Is Reshaping Accounting Jobs by Doing the "Boring" Stuff | Stanford Graduate School of Business
https://www.gsb.stanford.edu/insights/ai-reshaping-accounting-jobs-doing-boring-stuff
PCAOB fines Deloitte, PwC, EY Netherlands member firms for exam misconduct | Accounting Today
https://www.accountingtoday.com/news/pcaob-fines-deloitte-pwc-ey-netherlands-member-firms-for-exam-misconduct
PCAOB Imposes Fines Totaling $8.5 Million on Netherlands Member Firms of Deloitte, PwC, and EY After Widespread Exam Misconduct
https://pcaobus.org/news-events/news-releases/news-release-detail/pcaob-imposes-fines-totaling--8.5-million-on-netherlands-member-firms-of-deloitte--pwc--and-ey-after-widespread-exam-misconduct
How an Accounting Change Hit Store Prices - UCLA Anderson Review
https://anderson-review.ucla.edu/how-an-accounting-change-hit-store-prices

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

Need Accounting Conference Info?
Check out our new website - accountingconferences.com

Limited edition shirts, stickers, and other necessities
TeePublic Store: http://cloudacctpod.link/merch

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REFRAME 2025 -
1 hr 15 min
June 25, 2025Tariffs, Iran, PE, CPA Pipeline, PCAOB, SEC
What happens when 19 states simultaneously abandon the 150-hour CPA requirement while tariffs create unprecedented uncertainty for CFOs? Blake and CFO.com reporter Adam Zaki explore the rapid transformation of CPA licensure—from New York's recent changes to the coordinated state-by-state rollout that followed Barry Melancon's AICPA retirement. You'll discover how political and economic volatility is driving demand for accounting services, why the PCAOB may disappear in the Senate's tax bill, and how AI is reshaping audit teams while raising questions about the future value of CPAs. Plus, insights on navigating everything from reciprocal tariffs to the SEC's new chief accountant.
Sponsors
Cloud Accountant Staffing - http://accountingpodcast.promo/cas
Human at Scale - http://accountingpodcast.promo/human

Chapters
(01:38) - Tariffs and Their Impact on CFOs
(03:19) - Supreme Court and Tariff Legalities
(05:47) - Economic Impact of Tariffs and Inflation
(08:09) - Geopolitical Conflicts and Economic Uncertainty
(11:17) - Federal Reserve and Economic Policies
(18:51) - CPA Pipeline and 150 Hour Rule Changes
(32:07) - Chief Accountant at the SEC
(39:10) - Smart Moves by Congress: Nonprofit Pay Scales
(39:43) - The Impact of Budget Cuts on PCAOB
(40:33) - Challenges in Government Oversight
(41:01) - Senate's Big Bill: Key Changes and Controversies
(44:26) - Tax Implications and Political Dynamics
(50:43) - Business Deductions and Higher Education
(53:41) - AI in Accounting: Transforming the Big Four
(55:38) - The Future of Accounting Education
(01:00:11) - AI's Role in Auditing and the Future Workforce
(01:03:20) - The Impact of Automation on Jobs and Society
(01:12:31) - Concluding Thoughts and Future Outlook
Show Notes
Supreme Court Challenge to Trump Tariffs by Toy Companies
https://www.reuters.com/legal/supreme-court-trump-tariffs-toy-companies-challenge

Consumer Price Index Impact of Current Tariffs
https://www.bls.gov/news.release/cpi.nr0.htm

New York State CPA Licensure Reform Legislation
https://www.nysscpa.org/news/publications/the-trusted-professional/article/new-york-cpa-licensure-reform-passes-legislature

Pennsylvania CPA Pathway Bill Senate Approval
https://www.picpa.org/articles/advocacy/cpa-pathway-legislation-senate-approval

Maine CPA Exam Requirements Change
https://www.maine.gov/pfr/professionallicensing/professions/accountants/cpa-exam-requirements

CFO.com State-by-State CPA Licensure Tracker
https://www.cfo.com/news/cpa-licensure-changes-state-tracker-2025

Kurt Hoel Appointed SEC Chief Accountant
https://www.sec.gov/news/press-release/2025-89

AICPA Barry Melancon Retirement Impact Analysis
https://www.journalofaccountancy.com/news/2025/01/melancon-retirement-cpa-pipeline-changes

Senate Modifications to Big Beautiful Bill
https://www.congress.gov/bill/119th-congress/house-bill/1/actions

Avalara 2025 Accountants Confidence Report
https://www.avalara.com/us/en/resources/reports/2025-accountants-confidence-report

PCAOB Elimination Implications Analysis
https://www.pcaobus.org/oversight/inspections/implications-elimination-analysis

KPMG Clara AI Audit Platform Interview
https://www.cfo.com/news/kpmg-thomas-mackenzie-clara-ai-audit-interview

PwC USA Tax Leader Agentic AI Implementation
https://www.cfo.com/news/pwc-tax-agentic-ai-implementation-2025

Bill.com Small Business Paperless Survey 2030
https://www.bill.com/resources/small-business-paperless-2030-survey

Universal Technical Institute CFO Interview
https://www.cfo.com/news/uti-cfo-future-higher-education-interview

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Learn more about Adam Zaki:
Website: https://www.cfo.com/editors/azaki/
LinkedIn: https://www.linkedin.com/in/adamzakinyc

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

Need Accounting Conference Info?
Check out our new website - accountingconferences.com

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TeePublic Store: http://cloudacctpod.link/merch

Subscribe
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1 hr 19 min
June 19, 2025AICPA Doesn't Care If PCAOB Goes Away
What happens when venture capitalists spend billions on AI but need customers to buy it? In this episode, Blake and David explore how investment firms are now purchasing accounting firms to force-feed AI adoption, comparing it to Pepsi buying restaurants to sell more soda. They also dig into the massive gap between AI promises and reality, questioning bold claims that 80% of tax prep is now automated while basic bookkeeping tools still make obvious errors. You'll learn about the AICPA's surprising neutrality on eliminating the PCAOB, Billy Long's confirmation as IRS commissioner despite his controversial past, and why accountant optimism has plummeted 58 points in just four months. Plus, discover how Miley Cyrus hid drug purchases from her accountant and why audit reports get downloaded only 30 times despite millions of investors.
Sponsors
OnPay - http://accountingpodcast.promo/onpay
Relay - http://accountingpodcast.promo/relay
Keeper - http://accountingpodcast.promo/keeper
Payhawk - http://accountingpodcast.promo/payhawk

Chapters
(00:57) - Updates from AICPA Engage
(01:45) - AI in Accounting: Hype vs Reality
(03:38) - The Future of the PCAOB
(13:52) - The Role of Technology in Accounting
(29:15) - Miley Cyrus' Financial Deception
(29:56) - Miley Cyrus' Vintage Clothing Purchases
(30:32) - Accountant's Responsibility in Client Purchases
(32:11) - Billy Long Confirmed as IRS Commissioner
(33:03) - Controversial Tribal Tax Credits
(36:51) - Elon Musk's Opposition to the Big Beautiful Bill
(46:06) - Accounting Firms' Optimism and AI Adoption
(49:29) - Conclusion and Sponsor Messages
Show Notes
CPAacademy 2025 AI and Accounting Report
https://www.cpaacademy.org/resources/ai-accounting-report-2025

How to Reimagine Audit Quality Beyond the PCAOB
https://www.cpajournal.com/2025/01/15/reimagining-audit-quality-beyond-pcaob/
Inflow Survey: 70% of US Businesses Open to Switching Audit Firms
https://www.inflowaudit.com/resources/audit-firm-switching-survey-2025
Gian Porzio LinkedIn Post on Tribal Tax Credit Investigation
https://www.linkedin.com/posts/gianporzio_tribal-tax-credits-investigation-billy-long
Economist-YouGov Poll on Big Beautiful Bill Public Opinion
https://www.economist.com/graphic-detail/2025/06/13/americans-support-musk-criticism-trump-tax-bill
CBO Analysis of Big Beautiful Bill Wealth Transfer Effects
https://www.cbo.gov/publication/61234
Avalara 2025 Accountants Confidence Report
https://www.avalara.com/us/en/resources/reports/2025-accountants-confidence-report.html
Center for Audit Quality Audit Partner Pulse Survey
https://www.thecaq.org/audit-partner-pulse-survey-2025
European Business Travel to US Drops 25% in April
https://www.businesstravelnews.com/Management/European-Business-Travel-US-Drops-Tariff-Concerns
Xero 2025 State of the Industry Report
https://www.xero.com/us/resources/small-business-insights/state-of-industry-report-2025/
Indiana CPA Society Survey on Firm Headcount Predictions
https://www.incpas.org/resources/surveys/firm-headcount-predictions-2025
BDO $1 Billion AI Strategy Investment Announcement
https://www.bdo.com/insights/business-financial-advisory/technology/bdo-ai-strategy-investment
RSM $1 Billion AI Investment Plan
https://rsmus.com/insights/rsm-ai-investment-strategy-2025
Create Professional Alliance CPA $500 Million Investment Plan
https://www.createprofessionalalliance.com/investment-strategy
Thrive Capital $1 Billion OpenAI Investment Details
https://www.techcrunch.com/2024/08/15/thrive-capital-openai-investment-billion
General Catalyst Accrual AI Startup and Accounting Firm Acquisitions
https://www.generalcatalyst.com/portfolio/accrual-ai-accounting-vertical-integration

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57 min
June 14, 2025The Death of the Financial Close: Aaron Harris on AI's Accounting Revolution
Live from the Sage Future conference in Atlanta, Aaron Harris, CTO of Sage, joins Blake and David to explain why he wants to completely eliminate the financial close rather than just make it faster. Harris breaks down the three waves of AI transformation in accounting—from task-based automation to generative AI to fully autonomous agents—and reveals how Sage is building custom language models trained specifically on accounting principles with the AICPA. He also discusses the psychology of trust between CFOs and AI systems, introduces Sage's new AI transparency labels, and explains why his company is taking a more cautious approach than competitors like Intuit when deploying autonomous agents.
Meet Our Guest, Aaron Harris, CTO, Sage
LinkedIn: https://www.linkedin.com/in/aaron-harris-7407b2/
Website: https://www.sageintacct.com/leadership/aaron-harris
X: https://x.com/AaronRHarris
Learn more about Sage
https://www.sage.com/
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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
47 min
June 12, 2025Real Life Ways Accountants Use AI, How Sage Will Eliminate the Close
Blake and David return from Sage Future 2025 with insights into how AI is reshaping accounting—from eliminating the financial close to real-world use cases. They also cover Elon Musk and Donald Trump’s public breakup, the latest in Deel’s corporate spying allegations, Deloitte’s unapologetically intense work-life balance ad, and a billion-dollar “AI” startup that turned out to be powered by humans.
Sponsors
OnPay - http://accountingpodcast.promo/onpay
Keeper - http://accountingpodcast.promo/keeper
TeamUp - http://accountingpodcast.promo/teamup
Payhawk - http://accountingpodcast.promo/payhawk

Chapters
(00:00) - Welcome to The Accounting Podcast
(01:02) - AI in Accounting: Real-World Examples
(05:08) - Sage Intacct Roadmap and AI Innovations
(12:02) - AI's Impact on Accounting Jobs
(18:33) - AI in Auditing: Tools and Trends
(26:54) - Internal Audit and AI Adoption
(32:36) - Elon Musk and Donald Trump Fallout
(35:43) - Impact of Tariffs and Political Alliances
(37:03) - Rippling vs. Deel: Allegations and Legal Battles
(40:45) - Deloitte's Work-Life Balance Ad Controversy
(43:10) - Accounting Profession's Retention and Salary Issues
(46:43) - CPA Title Removal Debate
(49:23) - 150-Hour Rule and Master's Degree Debate
(52:56) - Trump-Musk Fallout and Its Implications
(01:01:07) - Alliant Group and IRS Commissioner Controversy
(01:05:14) - AI Startup Fraud Exposed
(01:07:08) - Conclusion and Announcements
Show Notes

Real-life ways accountants are using AI
https://www.journalofaccountancy.com/issues/2025/jun/real-life-ways-accountants-are-using-ai/
Fieldguide Introduces Industry-Leading Agentic AI for Financial Audit to Improve Quality and Efficiency
https://www.globenewswire.com/news-release/2025/06/04/3093606/0/en/Fieldguide-Introduces-Industry-Leading-Agentic-AI-for-Financial-Audit-to-Improve-Quality-and-Efficiency.html
Fieldguide launches AI agent to automate audit testing
https://www.accountingtoday.com/news/fieldguide-launches-ai-agent-to-automate-audit-testing
How KPMG is using AI to revamp their audit practice
https://www.cfo.com/news/how-kpmg-thomas-mackenzie-is-using-clara-ai-to-revamp-their-audit-practice-/748316/
KPMG Advances AI Integration in KPMG Clara Smart Audit Platform
https://kpmg.com/us/en/media/news/kpmg-clara-smart-audit-platform.html
Ex-PwC Partner Says AI Is Coming For Big 4 Jobs in a Big Way
https://www.goingconcern.com/ex-pwc-partner-says-ai-is-coming-for-big-4-jobs-in-a-big-way/
PwC's 2025 Global AI Jobs Barometer
https://www.pwc.com/gx/en/news-room/press-releases/2025/ai-linked-to-a-fourfold-increase-in-productivity-growth.html
From bros to foes: how the unlikely Trump-Musk relationship imploded
https://www.reuters.com/world/us/bros-foes-how-unlikely-trump-musk-relationship-imploded-2025-06-06/
Deloitte's Latest Ad Promises Clients Their People Have No Life Whatsoever and Are Always Eager to Serve https://www.goingconcern.com/deloittes-latest-ad-promises-clients-their-people-have-no-life-whatsoever-and-are-always-eager-to-serve/
Microsoft backed this $1.5 billion AI startup that was just discovered to be 700 engineers pretending to be AI https://www.windowscentral.com/microsoft/builder-ai-collapse-microsoft-backed-fake-ai-services
Builder.ai faked AI with 700 engineers, now faces bankruptcy and probe
https://www.business-standard.com/companies/news/builderai-faked-ai-700-indian-engineers-files-bankruptcy-microsoft-125060401006_1.html
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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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Check out our new website - accountingconferences.com

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Classifieds
1 hr 9 min
June 10, 2025The $400 Million Question: Should Congress Eliminate the PCAOB?(From the Earmark Podcast)
Earmark Media Presents a bonus episode of Earmark Podcast:
What happens when Congress votes to eliminate the watchdog that's overseen public company audits for two decades? In this episode, Blake Oliver sits down with three leading accounting academics—Maureen McNichols from Stanford, Nemit Shroff from MIT, and Daniel Aobdia from Penn State—to examine the research behind the PCAOB's effectiveness and what elimination could mean for audit quality. You'll discover why companies with clean audit inspections can raise capital more easily, how the infamous "40% deficiency rate" actually works, and why these researchers believe dismantling the PCAOB could undermine trust in U.S. capital markets. The conversation reveals the hidden economics of audit oversight and explains why there hasn't been a major public company fraud since Enron and WorldCom.
Chapters
(00:00) - Welcome to the Show
(01:10) - Meet the Experts
(02:59) - Discussion on PCAOB's Elimination
(08:17) - Research Insights on PCAOB's Effectiveness
(20:11) - Deficiency Rates and Audit Quality
(24:50) - Economic Impact of Fraud and PCAOB's Role
(25:20) - Regulatory Model of the PCAOB
(25:59) - Incentive Structure and Audit Quality
(26:59) - Inspection Deficiency Rates
(28:54) - Restatement Rates vs. Deficiency Rates
(30:23) - Auditor-Client Relationship Tensions
(31:42) - Documentation Issues in Audits
(35:15) - Effectiveness of PCAOB Inspections
(37:49) - Impact of PCAOB on Financial Reporting Quality
(40:33) - Potential Elimination of the PCAOB
(44:00) - Conclusion and Final Thoughts

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Connect with Our Guests:
Maureen McNichols
https://www.gsb.stanford.edu/faculty-research/faculty/maureen-mcnichols
Nemit Shroff
https://mitsloan.mit.edu/faculty/directory/nemit-shroff
Daniel Aobdia
https://directory.smeal.psu.edu/dza5396
Connect with Blake Oliver, CPA

LinkedIn: https://www.linkedin.com/in/blaketoliver
Twitter: https://twitter.com/blaketoliver/
51 min
June 05, 2025Excel Still Trumps AI, Tariffs Under Threat, QBO Price Increases Justified?
What happens when a major newspaper publishes a summer reading list where only five of the 15 books actually exist? Blake and David explore this real example of AI-generated content gone wrong and what it means for accounting professionals who increasingly rely on automated tools. They break down QuickBooks' latest price increases, demonstrate how AI can now build complex consolidation spreadsheets in minutes, and discuss why Excel skills still outrank AI knowledge in finance hiring. Plus, they examine the legal challenges facing Trump's tariff policies, alternative CPA pathway expansion, and hear from accounting student Jason Farley about the dangerous gap between classroom education and real-world cloud accounting practice.
Sponsors
Payhawk - http://accountingpodcast.promo/payhawk
Keeper - http://accountingpodcast.promo/keeper
REFRAME 2025 - http://accountingpodcast.promo/reframe2025
TeamUp - http://accountingpodcast.promo/teamup

Chapters
(00:48) - Summer Reading List Mishap
(02:52) - AI and the Future of Fact-Checking
(05:27) - AI Video Generators and Fake News
(08:20) - QuickBooks and AI Pricing Debate
(09:16) - Elon Musk and Government Efficiency
(10:41) - The Big Beautiful Bill and Its Implications
(18:29) - Tariffs and Trade Wars
(38:31) - Excel vs AI in Finance
(41:25) - The Rise of Excel: A Brief History
(42:27) - Introducing Perplexity AI: A Versatile Tool
(52:39) - Alternative CPA Pathways and Legislative Changes
(53:50) - The Role of the PCAOB in Audit Quality
(58:08) - Controversies Surrounding IRS Commissioner Nominee Billy Long
(01:02:42) - The Future of Accounting Internships and Outsourcing
(01:19:03) - Perplexity's Onboarding Process: Results and Insights
(01:23:21) - Upcoming Conferences and Closing Remarks

Show Notes
Chicago Sun-Times fake summer reading list article
https://www.chicagosuntimes.com/fake-summer-reading-list-2025

South Carolina passes alternative CPA pathway legislation
https://www.scstatehouse.gov/cpa-pathway-legislation-2025

New Jersey alternative CPA pathway bill
https://www.njleg.state.nj.us/bills/cpa-alternative-pathway-2025
Oregon CPA licensure reform legislation
https://www.oregonlegislature.gov/cpa-pathway-reform-2025
Minnesota CPA education requirements change
https://www.revisor.mn.gov/cpa-education-requirements-2025
Illinois CPA pathway legislation
https://www.ilga.gov/cpa-pathway-bill-2025
Trump tariffs constitutional challenge court ruling
https://www.reuters.com/legal/trump-tariffs-constitutional-challenge-2025
Court of International Trade blocks global tariffs
https://www.cit.uscourts.gov/trump-tariffs-ruling-2025
International Emergency Economic Powers Act tariff authority
https://www.treasury.gov/ieepa-tariff-authority-analysis
PCAOB elimination provision in tax bill
https://www.congress.gov/bill/pcaob-elimination-provision
Billy Long IRS Commissioner confirmation hearing
https://www.finance.senate.gov/billy-long-confirmation-hearing
Billy Long tribal tax credits promotion controversy
https://www.irs.gov/tribal-tax-credits-fraud-warning
Federal Tax Updates podcast with Danny Werfel
https://federaltaxupdates.com/danny-werfel-interview
Solutions Magazine Excel vs AI survey
https://solutionsmagazine.com/excel-ai-finance-survey-2025
Microsoft Excel 40th anniversary analysis
https://www.technologylab.com/excel-40-years-anniversary
QuickBooks pricing increases for AI features
https://quickbooks.intuit.com/pricing-changes-ai-features-2025
Puzzle AI accounting platform pricing
https://puzzle.io/pricing
Digits AI bookkeeping service costs
https://digits.com/pricing-plans
Uplink AI bookkeeping pricing structure
https://uplink.com/ai-bookkeeping-pricing
Altman Dublin AI accounting company funding
https://altman.ie/series-a-funding-announcement
Perplexity Labs spreadsheet creation feature
https://labs.perplexity.ai/spreadsheet-tools
Microsoft Office bundling strategy vs Lotus 123
https://www.computerhistory.org/excel-lotus-competition

Meet our Guest, Chayton Farlee
LinkedIn: https://www.linkedin.com/in/chaytonfarlee/
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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.

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Need Accounting Conference Info?
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1 hr 25 min

About The Accounting Podcast

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The most authoritative voice in accounting news. Every week, Blake Oliver and David Leary break down the stories reshaping the profession — AI, the Big Four, firm M&A, audit failures, and the…