NVIDIA AI Funding Deal Has ”Shades of Enron” & EY Speeds Audits 125%+

2026-08-19

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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.SponsorsDigits - http://accountingpodcast.promo/digitsOnPay - http://accountingpodcast.promo/onpayThomson Reuters...

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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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