The Accounting Podcast

Should your AI agent have the same bank access you do? Blake Oliver and David Leary unpack banks’ concerns about AI agents and explain why separate logins and limited permissions matter. They also explore practical email automation, Blake’s ballooning token costs, and why firm-wide AI gains require standardized workflows. Plus, they examine Oxford Economics’ warning that U.S. growth could look recessionary without AI investment—and what that means for the pressure to deliver real returns.

Sponsors
Digits - http://accountingpodcast.promo/digits
Numeral - http://accountingpodcast.promo/numeral
OnPay - http://accountingpodcast.promo/onpay
Cloud Accountant Staffing - http://accountingpodcast.promo/cas

Chapters

• (00:00) - Recession With AI Boost
• (00:47) - TurboTax Storefront Mystery
• (04:37) - CCH Conference AI Preview
• (06:21) - Banks Block AI Agents
• (10:03) - Stripe Treasury Agents Rise
• (12:41) - Permissioned Access Fix
• (18:43) - Zapier MCP Lawyer Workflow
• (24:36) - Token Spend Spirals
• (28:13) - Shared AI Orchestration Layers
• (29:40) - AI Layer Missed
• (30:46) - Standardize vs Customize
• (35:03) - Memory Costs Tokens
• (37:17) - Inbox Automation Wins
• (40:01) - Scaling Past Demos
• (41:33) - Firm AI vs Personal
• (45:07) - PE Rollup AI Bet
• (50:32) - AI Native Firm Risks
• (51:16) - Recession Minus AI
• (54:47) - ROI Reality Check
• (57:25) - Chicago Head Tax
• (58:43) - Wrap Up and CPE

Show Notes

TurboTax Stores and Expert Offices in Santa Monica

https://turbotax.intuit.com/local-tax-offices/ca/santa-monica/

Banks Are Blocking External AI Agents. Is This Sustainable?

https://americanbanker.com/news/banks-are-blocking-external-ai-agents-is-this-sustainable

Introducing Stripe Treasury for Agents

https://stripe.com/newsroom/news/treasury-for-agents

Stripe Agrees to Acquire OpenRouter to Help Businesses Optimize Token Routing and Usage

https://stripe.com/newsroom/news/stripe-agrees-to-acquire-openrouter

What Happens to a Lawyer’s Business Model When AI Makes Him 5x Faster

https://zapier.com/blog/damian-guzman-fte-legal-mcp/

Introducing Glass

https://ramp.com/blog/introducing-glass

Meridian Launches Meridian Starter, a Shared AI Workspace for Accounting Firms

https://www.globenewswire.com/news-release/2026/10/20/3384755/0/en/meridian-launches-meridian-starter-a-shared-ai-workspace-for-accounting-firms.html

Platform Accounting Group Secures $355 Million Investment

https://www.cpapracticeadvisor.com/?p=192093

Exclusive: Gradient Raises $4M for AI-Native Startup Accounting Firm

https://techfundingnews.com/exclusive-gradient-raises-4m-ai-native-accounting-firm-us-startups/

Minus AI Investments, the US Edges Toward Recession

https://www.cfo.com/news/minus-ai-investments-the-us-edges-toward-recession/833461/

Mayor Johnson Renews Fight for His Failed Corporate Head Tax

https://chicago.suntimes.com/city-hall/2026/10/20/mayor-brandon-johnson-failed-corporate-head-tax-resurrected-proposed-budget

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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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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

AI outperformed 12 CPAs on a month-end close benchmark, but that doesn’t mean it can replace them. Blake Oliver and David Leary unpack the study’s limits and why adding AI to existing workflows may not save time. They also explore survey findings that accounting budgets triple when businesses hit $1 million in revenue, plus why most firms are invisible in AI searches. Learn what these shifts mean for your firm’s processes, pricing, and marketing.

Sponsors
Cloud Accountant Staffing - http://accountingpodcast.promo/cas
OnPay - http://accountingpodcast.promo/onpay
Finance Accounting Technology Expo - http://accountingpodcast.promo/fate
SavantLabs - http://accountingpodcast.promo/savant

Chapters

• (00:00) - AI Search Visibility Crisis
• (00:24) - Show Intro and Headlines
• (02:38) - Livestream Shoutouts
• (03:18) - AI Beats CPAs Study
• (05:40) - Charts Speed and Accuracy
• (08:27) - Why Humans Lag Context
• (10:31) - When AI Plus Human Fails
• (20:00) - AI Native Workflow Shift
• (26:52) - Sams List Client Budgets
• (29:48) - Small Biz Client Focus
• (30:36) - What Clients Actually Want
• (31:35) - Pricing Reality Check
• (34:06) - Startup Budget Mindset
• (36:34) - New Studio Chat
• (37:59) - AI Progress Story
• (43:29) - Ramp Glass Orchestration
• (47:26) - AI Search Disrupts SEO
• (50:41) - How To Get Recommended
• (53:13) - Niche Beats Location SEO
• (55:21) - Wrap Up And CPE

Show Notes

Human Baselines for Benchmarks: AI Now Outperforms Junior Accountants

https://www.mercor.com/blog/human-baselines-for-benchmarks-ai-now-outperforms-junior-accountants/

Clients Spend $5K a Year on Accountant Until Revenue Passes $1M

https://www.accountingtoday.com/news/clients-spend-5k-a-year-on-accountant-until-revenue-passes-1m

Meta Is Back in the AI Race. Muse Wonder Just Ranked #2 for Accounting

https://www.dualentry.com/blog/muse-wonder-just-ranked-2-for-accounting

Ramp’s $1.5 Million Week of Spending Leads to Glass AI Tool

https://www.pymnts.com/?p=4306638

Ramp Glass

https://ramp.com/glass

AI Recommendations Favoring Narrow Band of Big Firms

https://www.accountingtoday.com/news/ai-recommendations-favoring-narrow-band-of-big-firms

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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 - https://accountingconferences.com/

Limited edition shirts, stickers, and other necessities

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

Subscribe

• Apple Podcasts: http://cloudacctpod.link/ApplePodcasts
• YouTube: https://www.youtube.com/@TheAccountingPodcast
• Spotify: http://cloudacctpod.link/Spotify
• Podchaser: http://cloudacctpod.link/podchaser
• Stitcher: http://cloudacctpod.link/Stitcher
• Overcast: http://cloudacctpod.link/Overcast

Classifieds
ProfitRoot - https://tryprofitroot.com/

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/RunClassifiedAd

Transcripts

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

Could AI replace your CFO or simply make their job more exhausting? Blake and David debate automation’s limits, unpack an enrolled agent’s log of 188 IRS calls, and explore proposed reforms to taxpayer service. They also examine why AI is putting pressure on billable hours, gaps in AI safety audit requirements, and a romance scam victim’s $225,000 tax bill. Learn what these developments could mean for your firm, clients, and workload.

Sponsors
OnPay - http://accountingpodcast.promo/onpay
Numeral - http://accountingpodcast.promo/numeral
SavantLabs - http://accountingpodcast.promo/savant
Cloud Accountant Staffing - http://accountingpodcast.promo/cas

Chapters

• (00:00) - TAP 508
• (02:40) - Can AI replace executives
• (03:38) - Survey results and divides
• (06:03) - Why AI can't lead yet
• (12:18) - EA tracks IRS call hell
• (13:54) - IRS chatbots and america.gov
• (15:50) - IRS and ICE data sharing
• (17:42) - IRS modernization bill highlights
• (22:45) - Tax fraud and complexity costs
• (25:53) - Influencer deductions in tax court
• (28:00) - Influencer Expenses Denied
• (28:45) - Accountant With Bad Records
• (29:38) - Romance Scam Tax Bill
• (31:25) - ‌
• (33:01) - AI Agents Breach Systems
• (42:13) - Big Law Versus AI Billing
• (47:44) - Illinois AI Audit Mandate
• (52:07) - Meta Muse Integrations
• (52:31) - Wrap Up And Events

Show Notes

Could AI replace CFOs and other top executives?

https://www.cfo.com/news/could-ai-replace-cfos-and-other-top-executives-watch-chest-ai-/827098/

IRS Hold Times in 2026: What 188 Timed Calls to the IRS Actually Showed

https://claritytaxrelief.com/blog/irs-hold-times-study-188-calls/

Appeals court blocks IRS from sharing taxpayer info with ICE

https://www.accountingtoday.com/news/appeals-court-blocks-irs-from-sharing-taxpayer-info-with-ice

Senate unanimously passes TAS Act

https://www.accountingtoday.com/news/senate-unanimously-passes-tas-act

Congress approves funding bill that maintains IRS budget

https://www.journalofaccountancy.com/news/2026/sep/congress-approves-funding-bill-that-maintains-irs-budget/

GAO tax fraud estimate puts annual losses at up to $304 billion

https://www.journalofaccountancy.com/news/2026/sep/gao-tax-fraud-estimate-puts-annual-losses-at-up-to-304-billion/

Tax Complexity Now Costs the US Economy over $544 Billion Annually

https://taxfoundation.org/data/all/federal/irs-tax-complexity-costs-us-economy-over-544-billion-annually/

Paying For Clout Isn't A Business Expense: Tax Court Lessons For Social Media Creators

https://abovethelaw.com/2026/08/paying-for-clout-isnt-a-business-expense-tax-court-lessons-for-social-media-creators/

A North Carolina Woman Lost $600,000 to a Scam. Then an Unexpected IRS Bill Arrived

https://www.cpapracticeadvisor.com/?p=190730

EY staffers accused of accessing Australia PM's bank account

https://www.accountingtoday.com/articles/ey-staffers-accused-of-accessing-australia-pms-bank-account

'Extreme concern' over first known AI hack of a government system

https://www.cnn.com/2026/09/23/business/australia-openai-agent-hack-intl-hnk

OpenAI alerts more than 100 groups about rogue AI agent activity

https://www.thestar.com.my/tech/tech-news/2026/10/02/openai-alerts-more-than-100-groups-about-rogue-ai-agent-activity

OpenAI says its AI agents probed federal websites without the company's knowledge

https://www.whro.org/2026-09-26/openai-says-its-ai-agents-probed-federal-websites-without-the-companys-knowledge

As A.I. Makes Law Firms More Efficient, Clients Ask: 'Where's My Discount?'

https://www.nytimes.com/2026/09/26/business/dealbook/ai-law-discount-billable-hour.html

Sorren launches law firm

https://www.accountingtoday.com/news/sorren-launches-sorren-law

Column: Illinois Ordered an Audit of AI Developers. Who Will Do It?

https://www.cpapracticeadvisor.com/2026/07/28/column-illinois-ordered-an-audit-of-ai-developers-who-will-do-it/187458/

Meta is expanding its AI agent Muse to small businesses

https://techcrunch.com/2026/09/29/meta-is-expanding-its-ai-agent-muse-to-small-businesses/

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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? F...

Will AI replace accountants—or finally ease the profession’s talent shortage? Blake and David unpack why AI-exposed accounting roles are seeing pay rise, not fall; how EY cut audit deficiencies from 28% to under 5%; and why firms must give AI agents limited access and auditable logins. They also explore the coming firm structure: fewer staff, more AI agents, and partners focused on judgment, review, and client relationships.

Sponsors
Cloud Accountant Staffing - http://accountingpodcast.promo/cas
Numeral - http://accountingpodcast.promo/numeral
OnPay - http://accountingpodcast.promo/onpay
Veltrix - http://accountingpodcast.promo/veltrix

Chapters

• (00:00) - Staff Are Gone
• (01:52) - Doctor Note AI Warning
• (03:33) - AI Access Controls Lesson
• (06:05) - Annual Reports Design
• (07:59) - Taxing AI Debate
• (13:08) - Audit Judgment Future
• (19:11) - EY Audit Quality Surge
• (23:05) - Meta Muse Microwave Moment
• (29:52) - Apps Handing Off To Claude
• (31:58) - AI As The Interface
• (32:58) - LLMs Become The New OS
• (34:15) - Where AI Captures Value
• (35:29) - Platform Cloning Threats
• (36:26) - Regulation Protects Fintech
• (37:02) - Orchestrating Accounting Agents
• (39:10) - One Universal Business Brain
• (41:53) - Big Four Future In AI
• (46:32) - KPMG Incubator Career Play
• (49:52) - America Solopreneur Boom
• (52:53) - Are Business Filings Real
• (53:53) - Spotify Lessons For Firms
• (58:18) - Accountant Turned Top DJ
• (01:01:13) - Shakira Tax Residency Fight
• (01:02:35) - Wrap Up And CPE Plug

Show Notes

The turbulent AI era is here. The choices we make now are critical.

https://www.gatesnotes.com/a-turbulent-ai-era-and-critical-choices-to-make

US jobs paradox: AI-exposed roles see 46% pay surge even as AI-linked layoffs rise

https://businesstoday.in/technology/story/us-jobs-paradox-ai-exposed-roles-see-46-pay-surge-even-as-ai-linked-layoffs-rise-556730-2026-09-21

PCAOB's Logothetis: AI can only do part of an auditor's job

https://www.accountingtoday.com/news/pcaobs-logothetis-ai-can-only-do-part-of-an-auditors-job

EY reports improved audit quality

https://www.accountingtoday.com/news/ey-reports-improved-audit-quality

Introducing Muse: The World's First Personal AI Agent Built for Everyone

https://about.fb.com/news/2026/09/introducing-muse-personal-ai-agent/

Expensify Becomes One of the First Expense Management Tools Available in Claude for Small Business

https://finviz.com/news/392305/expensify-becomes-one-of-the-first-expense-management-tools-available-in-claude-for-small-business

Xero Wherever You Work: Real-Time Financial Intelligence in Claude for Small Business and ChatGPT

https://blog.xero.com/product-updates/claude-for-small-business-chatgpt-ai-integrations-launch/

Avalara launches Aviator AI hub for tax compliance

https://itbrief.co.uk/story/avalara-launches-aviator-ai-hub-for-tax-compliance

Clients now expect some projects to happen twice as fast, PwC partner says

https://www.indiaipo.in/news/detail/clients-now-expect-some-projects-to-happen-twice-as-fast-pwc-partner

KPMG Announces Client Technology & Innovation Group to Build AI-Native Businesses

https://kpmg.com/us/en/media/news/kpmg-announces-client-technology-innovation-group.html

America has become an entrepreneur's paradise

https://thenightly.com.au/business/the-economist-america-has-become-an-entrepreneurs-paradise-c-22636515

What accounting firms can learn from the music industry

https://www.accountingtoday.com/opinion/what-accounting-firms-can-learn-from-the-music-industry

John Summit Saved $20,000 and Quit His Accounting Job to Become a DJ. Now He's Building an Entertainment Empire

https://www.entrepreneur.com/building-a-business/john-summit-saved-20000-and-quit-his-accounting-job-to-become-a-dj-now-hes-building-an-entertainment-empire

Shakira takes Spain stage as court reviews $63M tax claim

https://www.accountingtoday.com/articles/shakira-takes-spain-stage-as-court-reviews-63m-tax-claim

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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 - https://accountingconferences.com/

Limited edition shirts, stickers, and other neces...

Could AI make a one-person audit firm possible—and what happens if the data-center boom slows down first? Blake and David examine the AI economy’s circular debt, the construction ripple effects of a pullback, and practical ways firms can document workflows before automating them. They also cover AI-powered continuous audits, Mercury’s new general ledger, and tax evasion headlines.

Sponsors
Digits - http://accountingpodcast.promo/digits
Thomson Reuters - http://accountingpodcast.promo/taxautomation
OnPay - http://accountingpodcast.promo/onpay
Cloud Accountant Staffing - http://accountingpodcast.promo/cas

Chapters

• (00:00) - OnlyFans Tax Evasion
• (00:27) - Podcast Welcome Halloween
• (04:02) - News Lineup
• (06:34) - AI Bubble Warning
• (14:14) - AI Adjusted EBITDA
• (18:07) - SOP Marathon For AI
• (21:19) - AI SOP Workflow Tip
• (26:41) - Christina Ho AI Audits
• (29:22) - Audit Fees Under AI
• (29:55) - Audit Fees Surge
• (30:57) - AI Disrupts Audits
• (33:56) - Solo CPA Audit Firm
• (35:26) - Who Wins and Loses
• (35:52) - Audit Demand Explained
• (36:40) - Tech Enables New Entrants
• (38:26) - Audit Like Cloud Accounting
• (42:00) - ‌
• (43:03) - IRS Refund Nightmare
• (44:33) - OnlyFans Tax Evasion
• (46:51) - Punishing Financial Crime
• (49:59) - Mercury Launches Books
• (52:22) - Can Banks Compete
• (54:33) - Is Mercury Enough
• (56:44) - Wrap Up and CPE

Show Notes

NRF: Halloween spending to remain strong, reach $13.5B

https://chainstoreage.com/nrf-halloween-spending-remain-strong-reach-135b

Too interconnected to fail? New paper connects the AI dots

https://www.axios.com/2026/09/21/ai-finance-credit-circular

The AI gold rush has a dress code: steel-toe boots

https://finance.yahoo.com/economy/articles/ai-gold-rush-dress-code-233725771.html

40% of Small Businesses Lack Cash Reserves to Survive a Month of Late Client Payments

https://www.cpapracticeadvisor.com/2026/09/21/40-of-small-businesses-lack-cash-reserves-to-survive-a-month-of-late-client-payments/190371/

AI Future Savings Is Latest Ebitda Tweak to Jolt Debt Investors

https://www.bloomberg.com/news/articles/2026-09-17/ai-future-savings-is-latest-ebitda-tweak-to-jolt-debt-investors

How to run a SOPathon: The missing first step in every AI strategy

https://www.accountingweb.co.uk/community/industry-insights/how-to-run-a-sopathon-the-missing-first-step-in-every-ai-strategy

The 3-phase roadmap every accounting firm needs before AI delivers

https://www.accountingtoday.com/opinion/the-3-phase-roadmap-every-accounting-firm-needs-before-ai-delivers

Process Street MCP Server

https://www.process.st/help/docs/mcp-server/

Christina Ho's next act

https://www.cfobrew.com/stories/christina-hos-next-act

AI sounds the death knell for audit fee inflation

https://www.ft.com/content/80d02797-9a54-47e0-8bc3-a7144354da93

Tennessee Farmer Tried to Return $20,000 to IRS. Years Later, He's Still Fighting

https://www.cpapracticeadvisor.com/2026/07/23/tennessee-farmer-tried-to-return-20000-to-irs-years-later-hes-still-fighting/187281/

OnlyFans content creator pleads guilty to tax evasion

https://www.irs.gov/compliance/criminal-investigation/onlyfans-content-creator-pleads-guilty-to-tax-evasion

Mercury Launches Intelligent Accounting with Mercury Books

https://www.morningstar.com/news/business-wire/20260916850195/mercury-launches-intelligent-accounting-with-mercury-books

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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 - https://accountingconferences.com/

Limited edition shirts, stickers, and other necessities

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

Subscribe

• Apple Podcasts: http://cloudacctpod.link/ApplePodcasts
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• Overcast: http://cloudacctpo...

Is AI the real threat to accounting firms, or is it the client experience? Blake and David unpack a KPMG-linked Polymarket insider-trading investigation, AI-powered fraud, Xero’s influencer backlash, and a tax startup founder charged with defrauding investors. They also share their own experiments using Claude and ChatGPT to prepare tax returns, making the case that firms must eliminate frustrating back-and-forth if they want to keep clients.

Sponsors
Cloud Accountant Staffing - http://accountingpodcast.promo/cas
OnPay - http://accountingpodcast.promo/onpay
Thomson Reuters - http://accountingpodcast.promo/taxautomation
Savant Labs - http://accountingpodcast.promo/savant

Chapters

• (00:00) - Client Experience Threat
• (00:30) - Podcast Welcome Banter
• (02:05) - Week's News Rundown
• (04:17) - KPMG Polymarket Probe
• (11:46) - KPMG TaxSim Training
• (13:40) - KPMG OpenAI Headless UI
• (17:13) - Deepfake Defense Stakes
• (18:31) - Revolut Social Engineering
• (20:33) - Compliant CEO Fraud Case
• (25:31) - Xero Influencer Backlash
• (25:41) - Xero Claude Ad Backlash
• (28:57) - Apology and AI Framing
• (29:59) - DIY Taxes With AI
• (34:05) - Client Experience Problem
• (40:15) - IRS AI Fee Guidance
• (43:00) - PwC Leaves Downtown LA
• (44:48) - Wrap Up and CPE

Show Notes

Polymarket Trader Won 41 of 42 Earnings Bets on Companies KPMG Audits

https://www.financemagnates.com/forex/polymarket-trader-won-41-of-42-earnings-bets-on-companies-kpmg-audits/

SEC Charges Startup Founder with Fraud (Shiloh Luckey / ComplYant)

https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26424

KPMG Is Testing a New AI-Powered Tax Simulation Tool

https://goodfest.westfield.com/2026/05/kpmg-is-testing-a-new-ai-powered-tax-simulation-tool/

KPMG working with OpenAI to advance new "headless" enterprise tech model

https://www.accountingtoday.com/news/kpmg-working-with-openai-to-advance-new-headless-enterprise-tech-model

KPMG LLP Takes Minority Stake in Deepfake Detection Leader Reality Defender

https://kpmg.com/us/en/media/news/kpmg-llp-takes-minority-stake-in-deepfake-detection-leader-reality-defender.html

Cybercriminals using AI for fraud are making far more profit, Interpol claims

https://www.techradar.com/pro/security/cybercriminals-using-ai-for-fraud-are-making-4-5x-more-profit-interpol-says

Revolut confirms customer data breach after fake government requests

https://fstech.co.uk/fst/Revolut_Confirms_Customer_Data_Breach_After_Fake_Government_Requests.php

Xero issues new apology to accountants, days after controversial social media post

https://www.smartcompany.com.au/?p=344586

To our accountant and bookkeeper community

https://blog.xero.com/uk/accountants-bookkeepers/to-our-accountant-and-bookkeeper-community/

AICPA seeks IRS clarity on AI guidelines, CPA fees

https://www.thetaxadviser.com/news/2026/sep/aicpa-seeks-irs-clarity-on-ai-guidelines-cpa-fees/

Downtown L.A. Fixture PwC Will Move to Century City

https://www.cpapracticeadvisor.com/2026/07/08/downtown-l-a-fixture-pwc-will-move-to-century-city/186368/

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Can AI prepare a tax return—and catch errors the software misses? Blake shares how Claude Cowork reconciled books, built workpapers, and completed two business returns, while David examines EY’s bonuses for human judgment, Deloitte’s $21 million DEI settlement, and PwC’s Evergrande exposure. Plus, Cloud Accountant Staffing’s Jordan Sublette explains why onshoring is joining offshore hiring strategies for accounting firms.

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Chapters

• (00:00) - Ethics And Job Security
• (00:18) - Show Intro And Headlines
• (02:34) - Livestream Shoutouts
• (03:03) - Claude CoWork Tax Prep
• (06:54) - AI Catches TaxAct Errors
• (11:26) - Accrual Buys Puzzle
• (18:19) - EY Human Skills Bonuses
• (20:33) - Deloitte DEI Settlement
• (27:43) - Salaries And Big Four Fallout
• (31:22) - PwC Evergrande Liability
• (35:03) - Grant Thornton Buys CBIZ
• (36:25) - CBIZ Returns Reality Check
• (37:23) - Marcum Deal And Partner Payouts
• (38:34) - IRS Revenue Hits Record
• (40:50) - Chat Reactions And AI Ledgers
• (44:03) - AI Cost Seg Pitfalls
• (53:00) - Jordan Joins And Origin Story
• (55:06) - Jason Staats Partnership Explained
• (59:37) - Onshoring Portal And Pricing
• (01:04:58) - Candidate Vetting And Training
• (01:09:37) - Meetups And CPE Wrap Up

Show Notes

Accrual to Acquire Puzzle to Expand Into Client Accounting Services

https://www.cpapracticeadvisor.com/2026/09/02/accrual-takes-the-leap-into-cas-by-acquiring-puzzle/189565/

EY Rewards Employees' Human Skills With $100M

https://www.accountingtoday.com/news/ey-rewards-employees-human-skills-with-100m

Deloitte to Pay $21.5M to Settle Claims Its DEI Programs Violated Federal Civil Rights Law

https://www.cfo.com/news/deloitte-to-pay-215m-to-settle-claims-its-dei-programs-violated-federal-c/828948/

Accounting Firm Salaries Rose Slightly This Year

https://www.cfobrew.com/stories/accounting-firm-salaries-rose-slightly-this-year

KPMG Australia to Axe 5% of Workforce

https://www.cfo.com/news/kpmg-australia-to-axe-5-of-workforce-John-Sams/828636/

PwC International Can't Exit Evergrande Case, HK Court Rules

https://www.bloomberg.com/news/articles/2026-08-26/pwc-international-can-t-exit-evergrande-case-hk-court-rules

CBIZ Told Grant Thornton No, No, No, Before Saying Yes

https://cpatrendlines.com/2026/09/01/cbiz-told-grant-thornton-no-no-no-before-saying-yes/

IRS Enforcement Activity Fell Despite Record Tax Collections, TIGTA Says

https://www.journalofaccountancy.com/news/2026/aug/irs-enforcement-activity-fell-despite-record-tax-collections-tigta-says/

Cost Segregation in the Age of AI: What the IRS Audit Technique Guidelines Reveal

https://www.accountingtoday.com/opinion/cost-segregation-in-the-age-of-ai-what-the-irs-audit-technique-guidelines-reveal

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Transcripts

Th...

Can AI make tax prep cheaper without replacing the experts behind it? Hector Garcia joins Blake and David to unpack Intuit’s TurboTax pricing pressure, QuickBooks’ push into the mid-market, and whether AI-powered services are a bridge to automation. They also examine Thomson Reuters’ proprietary tax-and-legal AI model, Relate’s $100 million raise, and a student’s unusual path onto the New Mexico Board of Accountancy.

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Chapters

• (00:00) - TAP 503
• (02:47) - Intuit earnings overview
• (03:52) - Meet Hector Garcia
• (04:40) - Intuit stock and AI fears
• (07:57) - TurboTax pricing pressure
• (11:34) - TurboTax Live strategy shift
• (16:12) - TurboTax Live vs firms
• (19:47) - AI plus human bridge
• (22:13) - QuickBooks Free and Light
• (25:54) - Thomson Reuters builds LLM
• (30:29) - Trust security and ownership
• (34:16) - Vertical models disrupt giants
• (35:18) - Copilot partnership pitch
• (36:51) - Bulk AI Adoption
• (38:59) - Rillet Unicorn News
• (39:21) - Workday Buyout Math
• (40:50) - Switching Costs Reality
• (43:12) - Intuit Versus Rillet
• (45:26) - How Rillet Wins
• (48:18) - AI Spend Line Item
• (51:15) - Stripe Buys OpenRouter
• (53:22) - Reframe Conference Pitch
• (56:01) - Pablo Pledgebar Cautionary
• (57:08) - Britton Joins Board
• (01:01:37) - Student View On PE
• (01:04:57) - Education And AI Concerns
• (01:09:33) - Board Dynamics Explained
• (01:12:12) - Regulation Priorities
• (01:15:13) - Wrap Up And CPE

Show Notes

Intuit Reports Fourth Quarter and Full Year Fiscal 2026 Results; Sets Fiscal 2027 Guidance

https://investors.intuit.com/news-events/press-releases/detail/1320/intuit-reports-fourth-quarter-and-full-year-fiscal-2026-results-sets-fiscal-2027-guidance

Thomson Reuters Leverages its World-Class Data Assets to Launch Its Own Frontier Model

https://www.thomsonreuters.com/en/press-releases/2026/august/thomson-reuters-leverages-its-world-class-data-assets-to-launch-its-own-frontier-model

Rillet Raises $100 Million Series C at $1 Billion Valuation, Becomes Unicorn

https://techcrunch.com/2026/08/19/rillet-raises-100m-series-c-at-1b-valuation-2-years-after-emerging-from-stealth/

Silver Lake Eyes $51 Billion Workday Take-Private in Mega Software Deal

https://www.axios.com/2026/08/14/silver-lake-workday-take-private

Stripe Agrees to Acquire OpenRouter to Help Businesses Optimize Token Routing and Usage

https://stripe.com/newsroom/news/stripe-agrees-to-acquire-openrouter

From Accounting Major and Frat Brother to Suspected of Being Penn State's Largest Drug Dealer

https://www.nbcnews.com/news/us-news/penn-state-agostino-abbatiello-drug-scheme-rcna593041

Accounting Student Appointed to the New Mexico Public Accountancy Board

https://news.unm.edu/news/accounting-student-appointed-to-the-new-mexico-public-accountancy-board

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Transcripts

The full transcript for this episode is available by clicking on the Transcript tab at the to...

AI agents are going rogue — deleting bookings, sending unauthorized emails, and lying about it — and Blake and David trace the trend into the $3 trillion of off-balance-sheet AI commitments hiding in Big Tech's footnotes (and why accountants will get blamed when the bubble pops). They also recap what stood out at XeroCon 2026. Then Hoover Institution fellow Ben Jaros runs the real numbers on California's Prop 40 billionaire wealth tax — why the $100 billion estimate is closer to $40 billion, and whether taxing 200 people is even constitutional.

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Chapters

• (00:00) - Welcome to The Accounting Podcast
• (03:00) - Rogue AI Agents Gone Wild
• (07:53) - Controlling Agent Permissions
• (12:08) - Microsoft AI Receivables Surge
• (14:49) - Three Trillion Off Book Commitments
• (17:09) - Meta Hyperion Lease Loopholes
• (21:33) - Bubble Risk and Circular Financing
• (28:24) - XeroCon Highlights and AI Agents
• (32:21) - Bank Reconciliation and Roadmap Gripes
• (34:10) - Conference Vaporware Rant
• (34:37) - Billionaire Tax Preview
• (36:33) - Prop 40 Basics
• (38:40) - Revenue Reality Check
• (42:44) - Residency Cutoff Drama
• (45:01) - Wealth Tax vs Income Tax
• (45:52) - One Time Or Not
• (46:34) - Healthcare Backfill Claims
• (51:42) - Better Ways To Tax
• (55:23) - Constitutional Challenges
• (58:01) - Why Voters Oppose It
• (01:02:09) - Trial Balloon And Wrap Up

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

Is AI creating an audit boom—or hiding the next Enron-style risk? Blake and David unpack NVIDIA’s $500 billion data-center financing plan, why Michael Burry sees warning signs, and how AI is speeding up audits while challenging existing standards. They also cover improved PCAOB inspection results, the end of BOI reporting, Tether’s long-awaited audit, QuickBooks Live’s overhaul, and practical AI workflows small firms can use today.

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Chapters

• (00:00) - AI Biggest Audit Shift
• (01:35) - Headlines And Sponsors
• (02:20) - Digits AI Ledger
• (04:02) - Nvidia Deal Explained
• (06:31) - Enron Echoes And SPVs
• (09:46) - Bubble Risks And GAAP
• (12:31) - EY Audit Efficiency Claims
• (15:25) - PCAOB Reports Debate
• (17:40) - OnPay Payroll Sponsor
• (18:53) - FinCEN Ends BOI
• (19:52) - Audit AI Adoption Stats
• (21:08) - PCAOB Must Set AI Rules
• (25:52) - Quarterly Reporting Comments
• (29:17) - Tether Finally Audited
• (33:17) - Thomson Reuters Tax Automation
• (35:07) - Ancient Rome Tax Scam
• (38:45) - Why Tax Fraud Meant Death
• (39:18) - Clients Want AI Dashboards
• (39:45) - Small Firm AI Workflows
• (44:35) - Sponsor Cloud Staffing
• (45:49) - AI Raises Client Demands
• (46:27) - Audit Disruption Debate
• (48:35) - QuickBooks Live Rebrand
• (51:10) - Taiwan Receipt Lottery
• (54:40) - OnPay Benefits Upgrade
• (01:05:17) - Switch Payroll Midyear
• (01:09:19) - Wrap Up And CPE

Show Notes

'Shades of Enron': Michael Burry shorts Nvidia as its $500 billion chip-financing deal fuels a bubble

https://sg.finance.yahoo.com/news/nvidia-ai-push-echoes-enron-123355872.html

EY leverages AI for audit

https://www.accountingtoday.com/news/ey-leverages-ai-for-audit

In ancient Rome, tax fraud was punishable by death

https://www.popsci.com/science/tax-fraud-death-penalty-ancient-rome/

PCAOB inspection reports of largest audit firms show improvements

https://www.accountingtoday.com/news/pcaob-inspection-reports-of-largest-audit-firms-show-improvements

FinCEN ends beneficial ownership reporting

https://www.accountingtoday.com/news/fincen-ends-beneficial-ownership-reporting

Gartner Survey Finds Audit Teams' AI Use is Common, But Most Teams are Lacking Strategic Adoption and Application

https://www.gartner.com/en/newsroom/press-releases/2026-08-10-gartner-survey-finds-audit-teams-ai-use-is-common-but-most

It's Time for the US Audit Board to Set Corporate AI Standards

https://news.bloombergtax.com/tax-insights-and-commentary/its-time-for-the-us-audit-board-to-set-corporate-ai-standards

SEC quarterly earnings proposal draws flood of public complaints

https://finance.yahoo.com/markets/stocks/articles/sec-quarterly-earnings-proposal-draws-112015106.html

Firms (and Some Guy Obsessed With China) Have Weighed in on the PCAOB Turning an Eye to AI

https://www.goingconcern.com/firms-and-some-guy-obsessed-with-china-have-weighed-in-on-the-pcaob-turning-an-eye-to-ai/

Tether says KPMG issued 'clean' opinion in first full audit of USDT issuer's financials

https://www.coindesk.com/business/2026/08/13/tether-says-it-completed-long-promised-big-four-audit-of-finances-behind-usd180-billion-usdt-stablecoin

Real-life ways small firms use AI

https://www.journalofaccountancy.com/issues/2026/aug/real-life-ways-small-firms-use-ai/

QuickBooks Live is Dead, Long Live Intuit Experts

https://uqb.show/154

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What does episode 500 reveal about where accounting is headed? Blake Oliver and David Leary celebrate the milestone with CFO.com’s Adam Zaki and Going Concern’s Adrienne Gonzalez. They unpack AI’s pressure on billable hours, shrinking entry-level pathways, the changing route to CFO, and PwC’s canceled Disney intern event. Plus, Blake shares what happened after NASBA challenged his CPE comments.

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Canopy - http://accountingpodcast.promo/canopy
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Chapters

• (00:00) - ‌
• (00:20) - Episode 500 Kickoff
• (02:59) - Origin Story Live Chat
• (07:22) - Billable Hour Fading
• (13:36) - AI Knowledge vs Data Risk
• (16:21) - PwC Intern Disney Cut
• (24:31) - Pyramid to Diamond Firms
• (34:29) - CFO Pathway Disrupted
• (37:25) - AI Without Apprenticeship
• (38:55) - Would You Work for AI
• (39:47) - CFO Pipeline Shrinking
• (41:11) - Skipping Entry Level
• (43:15) - Simulations vs Real Work
• (45:05) - Metaverse Training Fail
• (47:35) - Crypto Fraud Irony
• (49:10) - Listener Milestones
• (51:58) - Billable Hour Debate
• (01:01:21) - AI Auditing Future
• (01:02:33) - NASBA Speech Clash
• (01:11:48) - Wrap Up and Thanks

Show Notes

CrossCountry Consulting's new co-CEOs say billable hour is 'waning'

https://www.cfo.com/news/crosscountry-consulting-new-co-ceo-amy-bjarnason-neil-smith-discuss-their-industrys-future/826266/

Diamonds May Be a Firm's Best Strategy: How AI Is Rewriting the Structure of Modern Practice

https://www.cpapracticeadvisor.com/2026/08/05/diamonds-may-be-a-firms-best-strategy-how-ai-is-rewriting-the-structure-of-modern-practice/188060/

Teikametrics CFO Brian Beaupre says the career path he took is disappearing

https://www.cfo.com/news/teikametrics-cfo-brian-beaupre-says-the-career-path-he-took-is-disappearing-cfo-leadership-council-/824716/

The Age of Artificial Intelligence: Quinnipiac University Poll on AI

https://poll.qu.edu/poll-release?releaseid=3955

We Went to the Boot Camp Where KPMG Teaches Auditors to Think Critically

https://www.wsj.com/business/kpmg-summer-interns-auditing-ai-training-941ad5cc

In Case You Didn't Hear, PwC Interns Won't Be Swarming Disney World This Year

https://www.goingconcern.com/in-case-you-didnt-hear-pwc-interns-wont-be-swarming-disney-world-this-year/

Bitquery CEO Faces $5M Theft Claim, 194 Records Deleted

https://www.analyticsinsight.net/news/bitquery-ceo-faces-5m-theft-claim-194-records-deleted

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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

Could Grant Thornton’s $5 billion CBIZ deal create a Big Five? Blake and David unpack the private-equity-backed combination, what it means for accounting firm ownership, and why controller talent is still hard to find. They also examine AI’s effect on finance judgment—and why nearly half of Gen Z workers say it makes them less intelligent—plus tariff refunds, audit scrutiny, and rising software prices.

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OnPay - http://accountingpodcast.promo/onpay
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Chapters

• (00:00) - TAP 499
• (02:17) - Livestream and CPE Plug
• (03:12) - Grant Thornton Buys CBIZ
• (04:35) - Stock Spike and Activists
• (09:06) - PE Strategy and IPO Exit
• (11:09) - Deal Size vs Big Four
• (13:21) - Trump Immunity and Nominee
• (16:39) - EY Hack Claim Explained
• (18:56) - Trump Deal Appeal Update
• (21:37) - Controller Hiring Crunch
• (23:21) - Senior Pay Flattening
• (26:24) - Corporate Hiring Demand
• (27:59) - AI Boosts Finance Judgment
• (29:38) - Claude Transforms Forecasting
• (30:43) - Gen Z AI Dependency Fears
• (34:32) - Xero Price Hike Backlash
• (36:45) - Lovable Connector Moat
• (40:38) - Agents Use Existing SaaS
• (45:29) - Tariff Refund Windfall
• (48:20) - NYC Pied-a-Terre Tax
• (51:44) - PwC UK Audit Failures
• (55:03) - Wrap Up and Episode 500

Show Notes

Grant Thornton Advisors to acquire CBIZ in $5 billion transaction

https://www.cpapracticeadvisor.com/2026/07/29/grant-thornton-set-to-buy-cbiz-for-5-billion-become-5th-largest-firm-in-u-s/187542/

Accounting Firm CBIZ Urged by Activist Investor to Pursue M&A

https://www.bloomberg.com/news/articles/2026-07-07/accounting-firm-cbiz-urged-by-activist-investor-to-pursue-m-a

Trump floats pulling Blanche's AG nomination until after GOP holdouts leave office

https://www.cnbc.com/2026/07/30/trump-blanche-ag-doj-cornyn-tillis.html

Donald Trump's tax audit immunity remains in place as Blanche's path to confirmation is cleared

https://www.reviewjournal.com/news/politics-and-government/as-blanches-path-to-confirmation-is-cleared-trumps-tax-audit-immunity-remains-in-place-3858601/

Ernst & Young data breach claimed by ShinyHunters extortion gang

https://www.bleepingcomputer.com/news/security/ernst-and-young-data-breach-claimed-by-shinyhunters-extortion-gang/

2026 Corporate Finance & Accounting Talent Research Study

https://controllerscouncil.org/2026-corporate-finance-accounting-talent-research-study/

Accounting's missing middle

https://www.accountingtoday.com/news/accountings-missing-middle

A third of companies look to increase finance and accounting hires

https://www.cfo.com/news/companies-look-to-boost-hiring-pay-for-finance-and-accounting-staff-controllers-council-report/824667/

AI's top value for finance now lies in improving judgment, not efficiency

https://finance.yahoo.com/technology/ai/articles/ai-top-value-finance-now-085159658.html

Nearly Half of Gen Z Workers Say AI is Making Them Less Intelligent

https://www.cpapracticeadvisor.com/2026/05/19/nearly-half-of-gen-z-workers-say-ai-is-making-them-less-intelligent/183621/

Xero Announces U.S. Subscription Price Changes

https://www.xero.com/us/pricing-plans/update/

Introducing the Lovable Xero connector: build on your Xero data, no code required

https://devblog.xero.com/introducing-the-lovable-xero-connector-build-on-your-xero-data-no-code-required-386873b591bc

We Peaked at 30 AI Agents. Now We're Coming Back Down to 20

https://www.saastr.com/we-peaked-at-30-ai-agents-now-were-coming-back-down-to-20-heres-what-consolidation-actually-looks-like-the-agents-011-live/

Amazon Got a $600 Million Tariff Refund, Some Going to Shoppers

https://www.cnbc.com/2026/07/30/amazon-trump-tariff-refunds.html

NYC Extends Deadline for Pied-à-Terre Tax Exemption Applications to Sept. 18

https://www.bloomberg.com/news/articles/2026-08-01/nyc-extends-deadline-for-second-home-levy-exemption-requests

Staten Island Homeowners Say They Fear for Safety After Names, Addresses Published on NYC Tax List

https://www.cpapracticeadvisor.com/2026/07/31/staten-island-homeowners-say-they-fear-for-safety-after-names-addresses-published-on-nyc-tax-list/187775/

PwC Fined $4.4 Million by UK Watchdog Over Babcock Audit Failures

https://www.globalbankingandfinance.com/uk-financial-watchdog-fines-pwc-4-4-million-over-babcock/

New York Governor Trolls LeBron James with Tax on Rumored NYC Home

https://www.cpapracticeadvisor.com/2026/07/31/new-york-governor-trolls-lebron-james-with-tax-on-rumored-nyc-home/187765/

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Could an AI agent decide to hack a system, or cancel your software subscription just to complete its task? Blake and David examine reports of AI agents escaping guardrails, flooding IRS rulemaking with generated comments, and taking autonomous business actions. They also trace accounting from ancient clay tokens to today’s AI economy, exploring why calculating profit and trustworthy records matter more than ever.

Sponsors
Cloud Accountant Staffing - http://accountingpodcast.promo/cas
The Value Builder System - http://accountingpodcast.promo/value
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Veltrix - http://accountingpodcast.promo/veltrix

Chapters

• (00:00) - Profit First Accounting
• (00:33) - Dumb Accounting AI
• (02:40) - AI Guest Pitch Email
• (07:21) - When Agents Go Rogue
• (09:38) - OpenAI Agent Hacks Out
• (11:57) - Waymo Laws And Goals
• (16:33) - IRS Chief Spy Claims
• (19:28) - AI Floods IRS Comments
• (23:30) - SaaStr AI Cancels SaaS
• (28:09) - Ode To Accounting Site
• (29:54) - Accounting Births Writing
• (31:24) - Double Entry Changes Everything
• (32:09) - Industrial Era Standards
• (33:29) - Internet Cloud And AI
• (34:19) - Hosts React Tokens Return
• (36:49) - Profit Cost Accounting And AI
• (39:33) - Round Tripping Explained
• (44:00) - IRS EIN Breakdown
• (46:19) - Trump Accounts Adoption
• (48:20) - Tax Leak Sentencing Debate
• (50:23) - KPMG Australia Shakeup
• (52:09) - QuickBooks MCP Workflows
• (55:52) - Intuit Card Versus Ramp
• (57:35) - Ramp Stablecoin And Token Spend
• (01:00:39) - Wrap Up And Where To Find Us

Show Notes

OpenAI and Hugging Face partner to address security incident during model evaluation

https://openai.com/index/hugging-face-model-evaluation-security-incident/

Trump's IRS Chief Frank Bisignano Accused of Using Hi-Tech Software to Spy on Colleagues' Emails at JPMorgan

https://www.thedailybeast.com/trumps-irs-chief-frank-bisignano-accused-of-using-hi-tech-software-to-spy-on-colleagues-emails-at-jpmorgan/

IRS blitzed with AI-generated comments on proposed tax rules

https://www.accountingtoday.com/news/irs-blitzed-with-ai-generated-comments-on-proposed-tax-rules

Your Agents Are About to Start Firing Your Vendors. Ours Fired Marketo.

https://www.saastr.com/your-agents-are-about-to-start-firing-your-vendors-ours-fired-marketo/

Basis offers AI agents, love letters and an ode to accounting

https://www.accountingtoday.com/news/basis-offers-ai-agents-love-letters-and-an-ode-to-accounting

7 Million Trump Accounts Have Been Opened, Administration Says

https://www.cpapracticeadvisor.com/2026/07/29/7-million-trump-accounts-have-been-opened-administration-says/187586/

DC Circuit Denies Littlejohn Appeal and the Need for Privacy Protections Remains

https://www.ntu.org/foundation/detail/dc-circuit-denies-littlejohn-appeal-and-the-need-for-privacy-protections-remains

KPMG Australia appoints new CEO

https://www.internationalaccountingbulletin.com/news/kpmg-australia-appoints-new-ceo/

KPMG Fires Former COO Eileen Hoggett Over Confidentiality Breach

https://news.ssbcrack.com/kpmg-fires-former-coo-eileen-hoggett-over-confidentiality-breach/

QuickBooks Expands Into Claude and ChatGPT with New Features

https://www.intuit.com/blog/news-social/quickbooks-expands-into-claude-and-chatgpt-with-new-sales-invoicing-payroll-and-lending-features/

Intuit Launches Business Credit Card That Brings Spend Management, Rewards, and Insights Together in QuickBooks

https://investors.intuit.com/news-events/press-releases/detail/1316/intuit-launches-business-credit-card-that-brings-spend-management-rewards-and-insights-together-in-quickbooks

Ramp Brings Stablecoin Accounts and Payments to All Customers

https://www.prnewswire.com/news-releases/ramp-brings-stablecoin-accounts-and-payments-to-all-customers-302830447.html

Ramp Launches AI Token Spend Controls

https://www.prnewswire.com/news-releases/ramp-launches-ai-token-spend-controls-302827389.html

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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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Can one accountant really do tax prep five times faster with AI? Blake and David talk with Sam Leon, founder of The Millennial CPA, about how he uses Claude projects to turn client documents into tax workpapers, speed up review, and run a solo firm built around software. They also dig into where AI still falls short, why review remains the bottleneck, and what firms can realistically automate today.

Sponsors
Digits - http://accountingpodcast.promo/digits
The Value Builder System - http://accountingpodcast.promo/value
OnPay - http://accountingpodcast.promo/onpay
Cloud Accountant Staffing - http://accountingpodcast.promo/cas

Chapters

• (00:00) - Autonomous AI Reality Check
• (00:11) - Show Welcome and Interview Tease
• (00:55) - Sponsor Spotlight Digits
• (02:34) - Trump IRS Deal Dismissed
• (05:20) - California Billionaire Tax Fight
• (07:35) - New York Pied a Terre Tax
• (09:29) - Sponsor Spotlight Value Builder System
• (11:18) - Xero CEO Pay and Stock Sale
• (16:39) - Verification Tax and AI Jobs
• (22:06) - Sponsor Spotlight OnPay
• (23:21) - 1948 IBM Accounting Machine Lesson
• (29:56) - Sponsor Spotlight Cloud Accountant Staffing
• (31:07) - Meet Sam Leon Millennial CPA
• (32:01) - Solo Firm Vision
• (33:15) - From Big Firms to Millennial CPA
• (35:42) - Why AI Agents Weren’t Ready
• (37:19) - Automating Tax Prep Workflow
• (40:33) - Smart Intake for Better Scoping
• (43:06) - End to End Return Automation
• (46:04) - AI Workpapers and Review
• (49:38) - Claude Setup and Time Savings
• (58:18) - Tech Spend and Pricing Strategy
• (01:02:52) - Building TaxWeave Platform
• (01:06:21) - Wrap Up and CPE Info

Show Notes

Judge Smacks Down Trump's IRS Settlement And Orders Sanctions

https://www.cnn.com/2026/07/13/politics/trump-irs-judge-ruling-settlement-sanctions

Instead of Uniting the Left, California's Billionaire Tax Measure Has Split Democratic Allies

https://www.cpapracticeadvisor.com/2026/07/08/instead-of-uniting-the-left-californias-billionaire-tax-measure-has-split-democratic-allies/186379/

NYC lawyers slam pied-a-terre tax as a half-baked money grab

https://www.audacy.com/1010wins/news/local/nyc-lawyers-slam-pied-a-terre-tax-as-a-half-baked-money-grab

A 1948 IBM computer with no memory at all, fed by punchcards, was still doing the accounting at a Texas filtration company as recently as 2020

https://scienceblog.com/t-1948-ibm-402-punchcards-sparkler-filters-accounting-2020/

Time saved by AI partially canceled out by time spent checking AI

https://www.accountingtoday.com/news/time-saved-by-ai-partially-cancelled-out-by-time-spent-checking-ai

Research Suggests Jobs May be Safer at Companies that Embrace AI

https://www.cpapracticeadvisor.com/2026/07/07/research-suggests-jobs-may-be-safer-at-companies-that-embrace-ai/186281/

AI Is No Longer Just a Tech Occupation Story: It's Spreading Across Job Titles in the US and Europe

https://www.hiringlab.org/2026/07/08/ai-is-no-longer-just-a-tech-occupation-story/

The 2026 Best Accounting Firms for Technology

https://www.accountingtoday.com/list/the-2026-best-accounting-firms-for-technology

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Meet Our Guest, Sam Leon, CPA
LinkedIn: https://www.linkedin.com/in/samuelaaronleon/
Website: https://www.millennialcpa.tax/
Website: https://www.taxweave.ai/

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

Need Accounting Conference Info?

Check out our new website - https://accountingconferences.com/

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What do World Cup taxes, AI-built accounting tools, and remote work have in common? In this episode, Blake and David unpack how tax rules hit global athletes and sports bettors, why Xero’s new AI products signal a shift toward accountants building their own software, and where firms still face risk with audit standards, cybersecurity, and homegrown apps. You’ll also hear what’s really happening with remote work and a listener correction on Trump accounts.

Sponsors
Canopy - http://accountingpodcast.promo/canopy
OnPay - http://accountingpodcast.promo/onpay
The Value Builder System - http://accountingpodcast.promo/value
Cloud Accountant Staffing - http://accountingpodcast.promo/cas

Chapters

• (00:00) - Cold Open and Welcome
• (00:27) - World Cup Chat Setup
• (04:04) - World Cup Player Taxes
• (06:58) - Betting and Prediction Taxes
• (09:47) - Xerocon London Highlights
• (12:58) - Xero Ultra Midmarket Push
• (15:31) - Xero Force Agent Builder
• (20:56) - More Xero Updates
• (23:22) - App News Canopy Close
• (26:13) - TaxDome Kiosk In Person
• (27:34) - Rippling Banking Payroll
• (29:37) - Exit Readiness Pitch
• (30:30) - AI Audits Need Rules
• (32:40) - QC 1000 Rollbacks
• (35:58) - CBIZ Activist Pressure
• (39:04) - Vibe Coding Boom
• (40:41) - DIY Tools Hidden Risks
• (48:05) - WISP Versus Security
• (48:57) - Remote Work Reality
• (50:13) - AI Usage Cost Chaos
• (54:13) - Trump Accounts Correction
• (58:23) - AI Handles CPE Reporting
• (01:01:13) - CPE Plug And Farewell

Show Notes

World Cup players face tax penalties

https://www.accountingtoday.com/news/world-cup-players-face-tax-penalties

How Much Will World Cup Players Pay in Taxes? In 2026, FIFA is the Real Winner

https://www.cpapracticeadvisor.com/2026/07/06/fifa-is-the-real-winner-of-the-2026-world-cup/186247/

World Cup Betting Tax Rules Differ for Prediction Markets, Sportsbooks

https://www.bloomberg.com/news/articles/2026-07-12/world-cup-betting-tax-rules-differ-for-prediction-markets-sportsbooks

Xero CEO on AI, the builder class and Xero at 20

https://www.accountingweb.co.uk/tech/tech-pulse/xero-ceo-on-ai-the-builder-class-and-xero-at-20

How we're building Xero to scale with growing businesses

https://blog.xero.com/product-updates/xero-ultra-launch-scaling-businesses/

Introducing XeroForce: Your no code custom AI agent builder for financial workflows

https://blog.xero.com/news-events/introducing-xeroforce-ai-agent-builder/

Paying your bills just got cheaper: Standard ACH is now free in Xero

https://blog.xero.com/product-updates/paying-your-bills-just-got-cheaper-standard-ach-is-now-free-in-xero/

Xerocon London 2026: The Agentic Era Has Arrived for Small Business Finance

https://blog.xero.com/product-updates/xerocon-london-2026-agentic-era-small-business-finance/

TaxDome Launches Kiosk: The In-Person Client Experience, Now Digitally Integrated

https://www.cpapracticeadvisor.com/2026/06/09/taxdome-launches-kiosk-the-in-person-client-experience-now-digitally-integrated/184868/

Rippling Launches Business Banking

https://www.cpapracticeadvisor.com/2026/06/23/rippling-launches-business-banking/185574/

MindBridge urges clearer PCAOB guidance on AI audits

https://itbrief.co.uk/story/mindbridge-urges-clearer-pcaob-guidance-on-ai-audits

PCAOB Issues Proposed Amendments to QC 1000 and Seeks Public Comment

https://pcaobus.org/news-events/news-releases/news-release-detail/pcaob-issues-proposed-amendments-to-qc-1000-and-seeks-public-comment

Restarting the M&A Flywheel — CBIZ, Inc.

https://cbizflywheel.com/

Starbucks starts vibe coding enterprise stack

https://www.semafor.com/article/07/09/2026/starbucks-starts-vibe-coding-enterprise-stack

Software vendors aren't losing sleep over vibe-coding — yet

https://www.accountingtoday.com/news/software-vendors-arent-losing-sleep-over-vibe-coding-yet

Most accounting firms can be impersonated by email – we checked 275 of them

https://www.accountantsdaily.com.au/business/22638-most-accounting-firms-can-be-impersonated-by-email-we-checked-275-of-them

Despite return-to-office crackdowns, remote work is alive and well as the rate has barely changed over the last two years

https://fortune.com/2026/07/05/remote-work-data-shows-hybrid-and-flexible-work-arrangements-are-here-to-stay-census-data/

AI bills are baffling the C-suite after shift to usage-based pricing

https://www.theregister.com/ai-and-ml/2026/07/03/ai-bills-are-baffling-the-c-suite-after-shift-to-usage-based-pricing/5266383

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What if one tax break could give your child a head start or hand them a pile of money at 18? Blake and David unpack the new Trump accounts, who should use them, and why advisors are split. They also dig into Australia’s latest Big Four scandal, worsening IRS service, AI’s growing role in tax and training, and what these shifts mean for accountants, firms, and clients.

Sponsors
OnPay - http://accountingpodcast.promo/onpay
Canopy - http://accountingpodcast.promo/canopy
The Value Builder System - http://accountingpodcast.promo/value
Cloud Accountant Staffing - http://accountingpodcast.promo/cas

Chapters

• (00:00) - TAP 495
• (01:40) - Sponsor Break OnPay
• (03:11) - Trump Accounts Basics
• (04:39) - Risks Versus 529 Plans
• (08:46) - Roth Conversion Strategy
• (11:27) - Big Four Scandals Australia
• (15:02) - Sponsor Break Canopy
• (16:26) - Coca-Cola Transfer Pricing Fight
• (21:38) - IRS Data Sharing Mess
• (23:41) - Tax Season Report Card
• (26:25) - IRS Help Centers Secret Shop
• (28:31) - Sponsor Break Value Builder
• (29:47) - IRS Chatbots Gone Wrong
• (30:36) - IRS Chatbot Failures
• (31:37) - Nonprofit Enforcement Push
• (33:29) - Is Nonprofit Fraud Real
• (36:27) - Sponsor Cloud Staffing
• (37:46) - California Billionaire Tax
• (42:01) - Florida Property Tax Shakeup
• (45:56) - AI Changes Teamwork
• (49:12) - AI Automates CPE Reporting
• (52:17) - KPMG Tax Training Simulator
• (56:15) - Accounting Firms Robbed
• (57:10) - Wrap Up and CPE Plug

Show Notes

Why advisors do and don't recommend Trump accounts

https://www.accountingtoday.com/news/why-advisors-do-and-dont-recommend-trump-accounts

The Trump Accounts rollout is the biggest advisory opportunity most accountants are missing

https://www.accountingtoday.com/opinion/the-trump-accounts-rollout-is-the-biggest-advisory-opportunity-most-accountants-are-missing

Australia weighs break-up of Big Four accounting firms after scandals

https://www.investing.com/news/stock-market-news/australia-weighs-breakup-of-big-four-accounting-firms-after-scandals-4769425

EY staffer fired after allegedly accessing Prime Minister's bank account

https://www.cyberdaily.au/security/13847-ey-staffer-fired-after-allegedly-accessing-prime-minister-s-bank-account

Coca-Cola Meets Sympathetic Judges in $20 Billion IRS Case

https://news.bloombergtax.com/daily-tax-report/coca-cola-meets-sympathetic-judges-in-transfer-pricing-dispute

TIGTA: IRS Has Data-Sharing Pacts with Over 1,120 Organizations, Some of Which It Can't Identify

https://www.cpapracticeadvisor.com/2026/07/06/tigta-irs-has-data-sharing-pacts-with-over-1120-organizations-some-of-which-it-cant-identify/186216/

National Taxpayer Advocate issues 2026 mid-year report to Congress

https://www.irs.gov/newsroom/national-taxpayer-advocate-issues-2026-mid-year-report-to-congress

IRS Taxpayer Assistance Centers provided wrong answers to tax questions

https://www.accountingtoday.com/news/irs-taxpayer-assistance-centers-provided-wrong-answers-to-tax-questions

IRS chatbot results may be wrong

https://www.accountingtoday.com/news/irs-chatbot-results-may-be-wrong

IRS gives tax-exempt groups closer scrutiny

https://www.accountingtoday.com/news/irs-gives-tax-exempt-groups-closer-scrutiny

2026 California billionaire tax initiative

https://en.wikipedia.org/wiki/2026_California_billionaire_tax_initiative

Semantic schism: Ron DeSantis rebukes Wall Street Journal jab at 'progressive' property tax measure

https://floridapolitics.com/archives/801396-desantis-wsj-progressive/

KPMG Turns to AI Simulations to Replace Years of Repetitive Tax Training as Automation Reshapes White-Collar Work

https://www.tekedia.com/kpmg-turns-to-ai-simulations-to-replace-years-of-repetitive-tax-training-as-automation-reshapes-white-collar-work/

Three suspects sought after accounting firm robbery in Markham

https://www.cp24.com/news/2026/06/30/three-suspects-sought-after-accounting-firm-robbery-in-markham/

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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?

Check out our new website - https://accountingconferences.com/

Limited edition shirts, stickers...

Are fake AI receipts becoming the next big headache for finance teams? Blake Oliver and David Leary unpack the surge in AI-generated expense fraud, why tax pros are rapidly adopting AI research tools, and how firms are using AI to automate month-end close and revenue recognition. They also cover NASBA’s response to criticism, Intuit’s renewed focus on accountants, and the implications of private equity and a shifting work culture for the future of accounting firms.

Sponsors
Cloud Accountant Staffing - http://accountingpodcast.promo/cas
The Value Builder System - http://accountingpodcast.promo/value
OnPay - http://accountingpodcast.promo/onpay

Chapters

• (00:00) - AI Tax Research Surge
• (00:23) - Show Intro and Lead Story
• (02:11) - AI Receipt Fraud Explodes
• (04:42) - Fraud Types and Detection
• (06:32) - Vibe Coding Goes Mainstream
• (10:19) - Claude for Rev Rec Workpapers
• (11:48) - NASBA Letter Follow Up
• (17:38) - Earmark CPE and New Audit Show
• (20:08) - Intuit Courts Accountants
• (23:04) - AI in Tax and IRS Guidance
• (28:45) - Hourly Billing Debate
• (29:10) - Disclosing AI Use
• (29:36) - NASBA Free Speech Question
• (31:34) - Customer Focus vs Regulation
• (35:52) - AI Close Tools Meridian
• (37:38) - DIY Agents for Accounting
• (39:20) - Claude Builds Rev Rec
• (44:46) - Eide Bailly Takes PE
• (48:06) - Big Firms Losing Control
• (53:01) - PE Meets Culture Shift
• (53:55) - Wrap Up CPE and Pricing

Show Notes

Use of AI receipts in expense fraud soars

https://www.accountingtoday.com/news/use-of-ai-receipts-in-expense-fraud-soars

The future of the ecosystem: Is everyone a developer now?

https://devblog.xero.com/the-future-of-the-ecosystem-is-everyone-a-developer-now-f3899ddf0b24

Blue J and CPA.com Survey Finds AI Adoption Among Tax Firms Has Nearly Doubled in One Year

https://www.cpa.com/news/blue-j-and-cpacom-survey-finds-ai-adoption-among-tax-firms-has-nearly-doubled-one-year

IRS rolls out introductory AI guidelines for tax practitioners

https://www.accountingtoday.com/news/irs-rolls-out-introductory-ai-guidelines-for-tax-practitioners

IRS electronic tax advisory committee recommends AI and preparer safeguards

https://www.accountingtoday.com/news/irs-electronic-tax-advisory-committee-recommends-ai-and-preparer-safeguards

The end of hourly billing Ignition's 2025 benchmark signals pricing shift for firms

https://www.ignitionapp.com/news/the-end-of-hourly-billing-ignitions-2025-benchmark-signals-pricing-shift-for-firms

Intuit CEO to accountants You are the customer not a channel

https://www.accountingtoday.com/news/intuit-ceo-to-accountants-you-are-the-customer-not-a-channel

Pilot Launches Meridian The AI Platform That Fully Closes the Books for Accounting Firms

https://www.globenewswire.com/news-release/2026/06/16/3312500/0/en/pilot-launches-meridian-the-ai-platform-that-fully-closes-the-books-for-accounting-firms.html

Kinter.ai Launches Agentic AI Accountants to Automate The Financial Close

https://www.prnewswire.com/news-releases/kinterai-launches-agentic-ai-accountants-to-automate-the-financial-close-302807330.html

Eide Bailly Advances Growth Strategy and Client Service Commitment Through Investment from Reverence Capital Partners

https://www.eidebailly.com/insights/firm-news/2026/reverence-capital-partners-investment

With 1.8 Billion Dollar Deal Eide Bailly Set for Explosive Growth

https://cpatrendlines.com/2026/06/25/with-1-8-billion-deal-eide-bailly-set-for-explosive-growth/

Losing Control The Erosion of Disciplinary and Pastoral Power in Accounting Firms

https://onlinelibrary.wiley.com/doi/10.1111/1911-3846.70028

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Can AI really clean up messy bookkeeping—and what happens when firms trust it too much? Blake and David break down KPMG’s error-filled AI report, the Pentagon’s new “Agentic Auditor,” and State Farm’s move to tie agent pay to AI. Blake also shares how he used Claude to complete two years of write-up work in hours, with practical lessons on where AI helps, where it fails, and why human review still matters.

Sponsors
Canopy - http://accountingpodcast.promo/canopy
The Value Builder System - http://accountingpodcast.promo/value
OnPay - http://accountingpodcast.promo/onpay

Chapters

• (00:00) - TAP 493
• (02:20) - KPMG AI Report Scandal
• (04:01) - GPTZero Findings Breakdown
• (05:16) - Hallucinated Case Studies
• (07:18) - Pentagon Turns to AI Audits
• (08:33) - Microsoft Copilot Cowork Launch
• (10:09) - Claude Cowork Write Up Win
• (15:22) - Recon Fixes and Loan Discovery
• (20:48) - Future of Agentic Accounting
• (24:06) - Livestream Q and A TaxGPT
• (27:01) - AI Review and Human Loop
• (28:38) - QuickBooks AI Gripe Vibe Coding
• (31:15) - OnPay Payroll Pitch
• (32:10) - CPA Fees Rising
• (33:58) - State Farm AI Agents
• (37:09) - SpaceX IPO Accounting
• (39:31) - Musk Disclosure Shift
• (41:02) - Quarterly Reporting Debate
• (46:31) - Celebrity Accountant Fraud
• (50:52) - KPMG Summer Perk Cut
• (52:24) - Intuit Humanizing AI
• (55:22) - IRS Data Shared With ICE
• (57:56) - CPE And Farewell

Show Notes

Chasing the Hallucinations: KPMG's AI-Powered Attempt at "Redefining Excellence"

https://gptzero.me/news/investigations-kpmg/

KPMG's AI report becomes an accidental demo of AI hallucinations

https://www.theregister.com/ai-and-ml/2026/06/12/kpmgs-ai-report-turns-into-a-demo-of-ai-hallucinations/5255029

Pentagon turns to AI in push for clean financial audit by 2028

https://www.stripes.com/theaters/us/2026-06-11/pentagon-audit-ai-contract-21941885.html

Copilot Cowork is now generally available

https://www.microsoft.com/en-us/microsoft-365/blog/2026/06/16/copilot-cowork-is-now-generally-available/

Tax Prep Billing Rates Lift Busy Season 2026

https://cpatrendlines.com/2026/04/14/tax-prep-emerges-from-busy-season-2026-as-the-new-engine-for-billing-rates/

State Farm overhauls agent contracts, mandates AI use

https://finance.yahoo.com/technology/ai/articles/state-farm-overhauls-agent-contracts-115756712.html

SpaceX CFO Bret Johnsen quietly engineered its historic IPO and became an overnight billionaire

https://fortune.com/2026/06/13/spacex-cfo-bret-johnsen-overnight-billionaire-ipo/

SpaceX CFO Bret Johnsen joins billionaire ranks after $75B IPO: Trial Balance

https://www.cfo.com/news/spacex-cfo-bret-johnsen-joins-billionaire-ranks-after-ipo-trial-balance/822848/

Investors oppose semiannual reporting, says poll

https://www.accountingtoday.com/news/investors-oppose-semiannual-reporting-says-poll

CFA Institute Investor Perspectives: Quarterly Reporting 2026

https://rpc.cfainstitute.org/sites/default/files/docs/research-reports/investor-perspectives-quarterly-reporting-2026.pdf

The Global Freelancer Pay Gap Report

https://www.remitly.com/us/en/landing/global-freelancer-pay-gap

Nick Cannon's Business Accountant Allegedly Embezzles $2 Million, Flees U.S.

https://www.tmz.com/2026/05/08/nick-cannon-business-manager-embezzled-millions/

KPMG scraps summer early Friday finish for staff

https://www.cityam.com/kpmg-scraps-summer-early-friday-finish-for-staff/

Intuit hires Mother to humanize the QuickBooks maker's AI pitch

https://adage.com/agencies/accounts-in-review/aa-intuit-hires-mother-as-creative-strategy-partner/

After issuing more than $20 billion in tariff refunds, the Trump administration is now pursuing legal action to bring the process to a standstill

https://fortune.com/2026/06/01/trump-administration-plan-appeal-illegal-ieepa-tariff-universal-refunds/

IRS gave 47,000 taxpayers' addresses to ICE

https://www.accountingtoday.com/news/irs-gave-47-000-taxpayers-addresses-to-ice

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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 - https://accountingconferences.com/

Limited edition shirts, stickers, and o...

Will AI really automate most accounting work by 2040? Blake and David unpack what they heard at AICPA Engage, from deterministic AI agents and rising accounting enrollment to private equity’s growing influence on firms. Plus, Blake shares an exclusive interview with FICPA CEO Shelly Weir on Florida’s fight to protect CPA licensure. Listen to understand where the profession is heading—and what accountants may need to do next.

Sponsors
Digits - http://accountingpodcast.promo/digits
OnPay - http://accountingpodcast.promo/onpay
Savant Labs - http://accountingpodcast.promo/savant
R.E. Cost Seg - http://accountingpodcast.promo/recostseg

Chapters

• (00:00) - Cash Stolen In Bay Ridge
• (00:27) - Podcast Welcome Back
• (02:58) - Engage Conference Takeaways
• (03:58) - Hidden Vibe Coding
• (07:50) - Rise 2040 Automation Report
• (10:47) - Human In The Lead Debate
• (15:09) - Top Firm Concerns 2026
• (18:29) - OpenAI Finance Team Lean
• (21:52) - Enrollment Up And CPA Pathways
• (25:19) - 7000 Cash Theft Revisited
• (26:52) - KPMG Whistleblower Scandal
• (28:33) - Crowe Gets 3B PE Deal
• (30:07) - Red Lobster AI Conspiracy
• (31:30) - PE Cross Selling Risks
• (33:39) - CPA Trust Campaign Launch
• (36:17) - Florida Licensure Threat
• (37:14) - Why Shelly Stayed Quiet
• (39:13) - What The Bill Proposed
• (43:28) - Why Deregulation Happened
• (45:46) - How FICPA Stopped It
• (48:46) - Mobility And Modernization
• (01:00:04) - CPE And Future Battles
• (01:03:59) - Wrap Up And Next Steps

Show Notes

Man Accused of Stealing $7K from Accounting Firm in Brooklyn

https://pix11.com/news/local-news/brooklyn/man-accused-of-stealing-7k-from-accounting-firm-in-brooklyn-nypd/

AICPA and CIMA Launch Rise2040: Shaping the Future of Finance and Accounting

https://www.aicpa-cima.com/news/article/aicpa-and-cima-launch-rise2040-shaping-the-future-of-finance-and-accounting

The AICPA Asks: Are You Ready for Accounting in 2040?

https://www.accountingtoday.com/news/the-aicpa-asks-are-you-ready-for-accounting-in-2040

OpenAI CFO Sarah Friar Offers a Look Inside the Company's Finance Function

https://www.cfo.com/news/openai-cfo-sarah-friar-offers-a-look-inside-the-companys-finance-function/822545/

Accounting Undergrad Enrollment Up 9%

https://www.accountingtoday.com/news/accounting-undergrad-enrollment-up-9

3 More States Pass CPA Pathways Legislation

https://www.cfodive.com/news/3-more-states-pass-cpa-pathways-bills-accounting/821649/

A Master's Degree Isn't the Job Guarantee It Used to Be

https://www.wsj.com/articles/a-masters-degree-isnt-the-job-guarantee-it-used-to-be

KPMG Secretly and Repeatedly Accessed a Whistleblower's Computer, Then Shared the Files with Its CEO

https://thenextweb.com/news/kpmg-accessed-whistleblower-computer

Crowe Gets PE Investment from KKR

https://www.accountingtoday.com/news/crowe-gets-pe-investment-from-kkr

57% Say PE Threatens the CPA Brand. But They'll Take the Money.

https://cpatrendlines.com/2026/06/09/cpa-pe-deal-tracker-57-say-pe-threatens-the-cpa-brand-but-theyll-take-the-money/

Red Lobster's CEO Says He's Going to Transform the Chain into 'The Most AI-Forward Restaurant Company That Exists'

https://finance.yahoo.com/sectors/technology/articles/red-lobsters-ceo-says-hes-153500558.html

Stephano Slack Scores PE Funding

https://www.accountingtoday.com/news/stephano-slack-scores-pe-funding

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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 - https://accountingconferences.com/

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• Stitcher: http://cloudacctpod.link/Stitcher
• Overcast: http://cloudacctpod.link/Overcast

Classifieds
REFRAME 2026 - http://accountingpodcast.promo/reframe2026
Flowglad -

Can AI now do bookkeeping better than humans? Blake and David dig into new data showing major AI models outperforming outsourced accountants on basic transaction coding, then explore what that means for firms, finance teams, and the future of audit. They also cover a one-person finance team powered by AI agents, KPMG’s scramble to keep up, and why the accounting talent shortage still isn’t going away.

Sponsors
OnPay - http://accountingpodcast.promo/onpay
The Value Builder System - http://accountingpodcast.promo/value
R.E. Cost Seg - http://accountingpodcast.promo/recostseg

Chapters

• (00:00) - TAP 491
• (00:38) - Top stories preview
• (03:23) - OnPay support story
• (04:08) - Finance team of one
• (06:49) - LLMs vs humans benchmarks
• (09:15) - Ramp Stack agents
• (13:04) - Digits interview begins
• (19:55) - Outcome pricing and skills
• (28:05) - Livestream Q&A reactions
• (29:27) - Future of audit Oath
• (30:29) - Oath AI Audit Vision
• (31:46) - Continuous Audit Workflow
• (32:21) - Business Model Debate
• (33:02) - Big Four On Alert
• (33:07) - Accounting Engineer Hiring
• (33:47) - KPMG Courts AI Startups
• (35:15) - Talent Shortage Worsens
• (36:31) - Why Seniors Are Scarce
• (39:55) - Ramp Stack AI Agents
• (47:14) - Procurement Agents And Valuation
• (48:50) - KPMG Token Maxing Dashboard
• (52:31) - KPMG Australia Fallout
• (54:45) - Trump Tax Settlement Update
• (56:14) - IRS Leadership Vacuum
• (59:28) - Wrap Up And Earmark News

Show Notes

Digits "Beyond the AI Hype" Benchmark — AI Models Now Beat Human Accountants

https://blog.insightfulaccountant.com/digits-releases-latest-edition-of-their-beyond-the-ai-hype-benchmark

Ramp Launches Stack, an AI Operating System for Accounting Firms

https://www.prnewswire.com/news-releases/ramp-launches-stack-an-ai-operating-system-for-accounting-firms-302789630.html

Ramp Launches Fleet of AI Agents Across Its Procurement Platform

https://www.prnewswire.com/news-releases/ramp-launches-fleet-of-ai-agents-across-its-procurement-platform-302756657.html

Ramp Raises $750 Million Series F at $44 Billion Valuation

https://www.prnewswire.com/news-releases/ramp-raises-series-f-at-44-billion-valuation-302791103.html

Accounting Talent Shortage Surges — Accounting Today

https://www.accountingtoday.com/news/accounting-talent-shortage-surges

Ex-PCAOB Regulator Joins AI Audit Startup Oath Targeting 80% Automation

https://thefinancestory.com/ex-pcaob-regulator-joins-ai-native-audit-firm-oath

KPMG Exploring Start-Up Deals in Silicon Valley to Counter AI Threat — Financial Times

https://www.internationalaccountingbulletin.com/news/kpmg-exploring-start-up-deals/

KPMG Sets 75% AI Usage Target with New Dashboard, Employees Flag It's Easy to Game — Business Insider

https://www.aol.com/articles/kpmg-now-dashboard-where-consultants-154532433.html

Amazon Shuts Down Internal AI Leaderboard After Employees Inflate Usage via Tokenmaxxing

https://www.hcamag.com/us/specialization/hr-technology/amazon-shuts-down-ai-leaderboard-after-tokenmaxxing/577189

KPMG Australia CEO Andrew Yates Resigns Amid Whistleblower Scandal

https://www.internationalaccountingbulletin.com/news/kpmg-australia-ceo-andrew-yates-resigns-amid-whistleblower-scandal/

Trump Administration Drops $1.8 Billion Anti-Weaponization Fund — Todd Blanche Testimony

https://www.cnbc.com/2026/06/02/doj-fund-trump-todd-blanche.html

Bessent Says He Is Performing IRS Commissioner Duties Amid Trump Tax Settlement Scrutiny

https://www.cnbc.com/2026/06/03/bessent-irs-commissioner-trump-tax-settlement-doj-fund.html

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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 - https://accountingconferences.com/

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Subscribe

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• YouTube: https://www.youtube.com/@TheAccountingPodcast
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• Stitcher: http://cloudacctpod.link/Stitcher
• Overcast: http://cloudacctpod.link/Overcast<...