Is private equity turning firms into a 'dumpster fire'? Blake and David unpack Accounting Today's survey showing partners are upbeat while staff are sour on PE. They hit Andersen's $176M IPO, why Big Four ties to Big Tech raise independence questions, and how AI could finally kill the billable hour. Plus, what tax pros really charge in 2025 - and the wild 'Middle Finger Ranch' fraud.SponsorsOnPay - http://accountingpodcast.promo/onpay Cloud Accountant Staffing -...
Is private equity turning firms into a 'dumpster fire'? Blake and David unpack Accounting Today's survey showing partners are upbeat while staff are sour on PE. They hit Andersen's $176M IPO, why Big Four ties to Big Tech raise independence questions, and how AI could finally kill the billable hour. Plus, what tax pros really charge in 2025 - and the wild 'Middle Finger Ranch' fraud.
Sponsors
OnPay - http://accountingpodcast.promo/onpay
Cloud Accountant Staffing - http://accountingpodcast.promo/cas
Chapters- (00:56) - Private Equity in Accounting Firms
- (01:51) - Sponsor Message: OnPay Payroll Solutions
- (04:15) - Arthur Andersen's Legacy and IPO
- (07:45) - Private Equity Survey Results
- (21:04) - Big Four and Tech Giants
- (28:25) - Pricing Models for CAS Engagements
- (30:22) - Tax Preparers' Fees Breakdown
- (36:12) - Cloud Accountant Staffing
- (37:34) - Economic Growth and Consumer Spending
- (40:26) - Fraud Stories: Middle Finger Ranch and More
- (43:24) - PCAOB Budget Cuts and Enforcement Actions
- (52:29) - IRS Readiness for Tax Season
- (53:43) - Conclusion and Upcoming Topics
Show Notes
PE in accounting firms: From 'dumpster fire' to excitement
https://www.accountingtoday.com/news/pe-in-accounting-firms-from-dumpster-fire-to-excitement
Andersen Group Shares Gain 47% After $176 Million US IPO
https://www.bloomberg.com/news/articles/2025-12-17/andersen-group-shares-jump-34-after-176-million-us-ipo
Andersen goes public, hits $2.6B valuation
https://thefinancestory.com/andersen-group-ipo-2-6b-valuation
The Big Four consulting firms are embedded in Big Tech. Here's who audits each of the Magnificent 7 companies
https://www.businessinsider.com/big-four-accounting-audits-magnificent-seven-financial-records-2025-12
What do tax preparers charge?
https://www.accountingtoday.com/news/what-do-tax-preparers-charge
How much do tax professionals charge in 2025? Insights from NATP's Fee Study
https://www.natptax.com/news-insights/blog/how-much-do-tax-professionals-charge-in-2025-insights-from-natp-s-fee-study/
U.S. economic growth surges in third quarter to 4.3%
https://www.washingtonpost.com/business/2025/12/23/gdp-economy-consumer-spending/
The US economy expanded at the fastest pace in two years as wealthier Americans kept spending
https://www.cnn.com/2025/12/23/economy/us-gdp-q3
Kansas accountant diverted family funds to fictitious 'Middle Finger Ranch'
https://kansasreflector.com/briefs/kansas-accountant-diverted-family-funds-to-fictitious-middle-finger-ranch/
Kansas Accountant, Who Created Fictitious 'Middle Finger Ranch' for Fraud Scheme, Sentenced to 4 Years in Jail
https://www.cpapracticeadvisor.com/2025/12/04/kansas-accountant-who-created-fictitious-middle-finger-ranch-for-fraud-scheme-sentenced-to-4-years/174381/
PCAOB to tighten budget in 2026
https://www.accountingtoday.com/news/pcaob-to-tighten-budget-in-2026
PCAOB Approves 2026 Budget
https://pcaobus.org/news-events/news-releases/news-release-detail/pcaob-approves-2026-budget
Accounting Firms Must Stop Charging for Time
https://cpatrendlines.com/2025/12/02/accounting-firms-must-stop-charging-for-time/
Dirty money gangster jailed over plot worth almost £12m
https://www.dailyrecord.co.uk/news/scottish-news/dirty-money-gangster-jailed-over-36410033
PCAOB Sanctions CPA for Violations Related to Audit Evidence and Her Former Audit Firm for Quality Control Issues
https://pcaobus.org/news-events/news-releases/news-release-detail/pcaob-sanctions-cpa-for-violations-related-to-audit-evidence-and-her-former-audit-firm-for-quality-control-issues
Ahead of Tax Filing Season, Warren, King, 15 Senators Warn of Tax Filing Chaos After Trump Admin Attacks on IRS
https://www.warren.senate.gov/newsroom/press-releases/ahead-of-tax-filing-season-warren-king-15-senators-warn-of-tax-filing-chaos-after-trump-admin-attacks-on-irs
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