The Accounting Podcast

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

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 - http://accountingpodcast.promo/taxautomationCloud Accountant Staffing - http://accountingpodcast.promo/casChapters(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 bubblehttps://sg.finance.yahoo.com/news/nvidia-ai-push-echoes-enron-123355872.htmlEY leverages AI for audithttps://www.accountingtoday.com/news/ey-leverages-ai-for-auditIn ancient Rome, tax fraud was punishable by deathhttps://www.popsci.com/science/tax-fraud-death-penalty-ancient-rome/PCAOB inspection reports of largest audit firms show improvementshttps://www.accountingtoday.com/news/pcaob-inspection-reports-of-largest-audit-firms-show-improvementsFinCEN ends beneficial ownership reportinghttps://www.accountingtoday.com/news/fincen-ends-beneficial-ownership-reportingGartner Survey Finds Audit Teams' AI Use is Common, But Most Teams are Lacking Strategic Adoption and Applicationhttps://www.gartner.com/en/newsroom/press-releases/2026-08-10-gartner-survey-finds-audit-teams-ai-use-is-common-but-mostIt's Time for the US Audit Board to Set Corporate AI Standardshttps://news.bloombergtax.com/tax-insights-and-commentary/its-time-for-the-us-audit-board-to-set-corporate-ai-standardsSEC quarterly earnings proposal draws flood of public complaintshttps://finance.yahoo.com/markets/stocks/articles/sec-quarterly-earnings-proposal-draws-112015106.htmlFirms (and Some Guy Obsessed With China) Have Weighed in on the PCAOB Turning an Eye to AIhttps://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 financialshttps://www.coindesk.com/business/2026/08/13/tether-says-it-completed-long-promised-big-four-audit-of-finances-behind-usd180-billion-usdt-stablecoinReal-life ways small firms use AIhttps://www.journalofaccountancy.com/issues/2026/aug/real-life-ways-small-firms-use-ai/QuickBooks Live is Dead, Long Live Intuit Expertshttps://uqb.show/154Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks 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.SponsorshipsAre you interested in sponsoring The Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast:

PwC Cuts Disney & The Uncertain Career Path for CPAs

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.SponsorsOnPay - http://accountingpodcast.promo/onpayCanopy - http://accountingpodcast.promo/canopyThomson Reuters - http://accountingpodcast.promo/taxautomationCloud Accountant Staffing - http://accountingpodcast.promo/casChapters(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 NotesCrossCountry 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 Practicehttps://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 disappearinghttps://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 AIhttps://poll.qu.edu/poll-release?releaseid=3955We Went to the Boot Camp Where KPMG Teaches Auditors to Think Criticallyhttps://www.wsj.com/business/kpmg-summer-interns-auditing-ai-training-941ad5ccIn Case You Didn't Hear, PwC Interns Won't Be Swarming Disney World This Yearhttps://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 Deletedhttps://www.analyticsinsight.net/news/bitquery-ceo-faces-5m-theft-claim-194-records-deletedNeed CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks 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.SponsorshipsAre you interested in sponsoring The Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifieds REFRAME 2026 - http://accountingpodcast.promo/reframe2026Flowglad - https://cal.com/team/flowglad/flowgladWant 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/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page

Grant Thornton to Acquire CBIZ & Trump Puts Immunity Over Blanche

SponsorsCloud Accountant Staffing - http://accountingpodcast.promo/casOnPay - http://accountingpodcast.promo/onpayThomson Reuters - http://accountingpodcast.promo/taxautomationVeltrix - http://accountingpodcast.promo/veltrixChapters(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 NotesGrant Thornton Advisors to acquire CBIZ in $5 billion transactionhttps://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&Ahttps://www.bloomberg.com/news/articles/2026-07-07/accounting-firm-cbiz-urged-by-activist-investor-to-pursue-m-aTrump floats pulling Blanche's AG nomination until after GOP holdouts leave officehttps://www.cnbc.com/2026/07/30/trump-blanche-ag-doj-cornyn-tillis.htmlDonald Trump's tax audit immunity remains in place as Blanche's path to confirmation is clearedhttps://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 ganghttps://www.bleepingcomputer.com/news/security/ernst-and-young-data-breach-claimed-by-shinyhunters-extortion-gang/2026 Corporate Finance & Accounting Talent Research Studyhttps://controllerscouncil.org/2026-corporate-finance-accounting-talent-research-study/Accounting's missing middlehttps://www.accountingtoday.com/news/accountings-missing-middleA third of companies look to increase finance and accounting hireshttps://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 efficiencyhttps://finance.yahoo.com/technology/ai/articles/ai-top-value-finance-now-085159658.htmlNearly Half of Gen Z Workers Say AI is Making Them Less Intelligenthttps://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 Changeshttps://www.xero.com/us/pricing-plans/update/Introducing the Lovable Xero connector: build on your Xero data, no code requiredhttps://devblog.xero.com/introducing-the-lovable-xero-connector-build-on-your-xero-data-no-code-required-386873b591bcWe Peaked at 30 AI Agents. Now We're Coming Back Down to 20https://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 Shoppershttps://www.cnbc.com/2026/07/30/amazon-trump-tariff-refunds.htmlNYC Extends Deadline for Pied-à-Terre Tax Exemption Applications to Sept. 18https://www.bloomberg.com/news/articles/2026-08-01/nyc-extends-deadline-for-second-home-levy-exemption-requestsStaten Island Homeowners Say They Fear for Safety After Names, Addresses Published on NYC Tax Listhttps://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 Failureshttps://www.globalbankingandfinance.com/uk-financial-watchdog-fines-pwc-4-4-million-over-babcock/New York Governor Trolls LeBron James with Tax on Rumored NYC Homehttps://www.cpapracticeadvisor.com/2026/07/31/new-york-governor-trolls-lebron-james-with-tax-on-rumored-nyc-home/187765/Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on

IRS Chief Spied on Colleagues & Out of Control AI

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.SponsorsCloud Accountant Staffing - http://accountingpodcast.promo/casThe Value Builder System - http://accountingpodcast.promo/valueOnPay - http://accountingpodcast.promo/onpayVeltrix - http://accountingpodcast.promo/veltrixChapters(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 NotesOpenAI and Hugging Face partner to address security incident during model evaluationhttps://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 JPMorganhttps://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 ruleshttps://www.accountingtoday.com/news/irs-blitzed-with-ai-generated-comments-on-proposed-tax-rulesYour 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 accountinghttps://www.accountingtoday.com/news/basis-offers-ai-agents-love-letters-and-an-ode-to-accounting7 Million Trump Accounts Have Been Opened, Administration Sayshttps://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 Remainshttps://www.ntu.org/foundation/detail/dc-circuit-denies-littlejohn-appeal-and-the-need-for-privacy-protections-remainsKPMG Australia appoints new CEOhttps://www.internationalaccountingbulletin.com/news/kpmg-australia-appoints-new-ceo/KPMG Fires Former COO Eileen Hoggett Over Confidentiality Breachhttps://news.ssbcrack.com/kpmg-fires-former-coo-eileen-hoggett-over-confidentiality-breach/QuickBooks Expands Into Claude and ChatGPT with New Featureshttps://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 QuickBookshttps://investors.intuit.com/news-events/press-releases/detail/1316/intuit-launches-business-credit-card-that-brings-spend-management-rewards-and-insights-together-in-quickbooksRamp Brings Stablecoin Accounts and Payments to All Customershttps://www.prnewswire.com/news-releases/ramp-brings-stablecoin-accounts-and-payments-to-all-customers-302830447.htmlRamp Launches AI Token Spend Controlshttps://www.prnewswire.com/news-releases/ramp-launches-ai-token-spend-controls-302827389.htmlNeed CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks 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.SponsorshipsAre you interested in sponsoring The Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessities

How Sam Leon Uses Claude Cowork to Prep Tax Returns 5x Faster

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.SponsorsDigits - http://accountingpodcast.promo/digitsThe Value Builder System - http://accountingpodcast.promo/valueOnPay - http://accountingpodcast.promo/onpayCloud Accountant Staffing - http://accountingpodcast.promo/casChapters(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 NotesJudge Smacks Down Trump's IRS Settlement And Orders Sanctionshttps://www.cnn.com/2026/07/13/politics/trump-irs-judge-ruling-settlement-sanctionsInstead of Uniting the Left, California's Billionaire Tax Measure Has Split Democratic Allieshttps://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 grabhttps://www.audacy.com/1010wins/news/local/nyc-lawyers-slam-pied-a-terre-tax-as-a-half-baked-money-grabA 1948 IBM computer with no memory at all, fed by punchcards, was still doing the accounting at a Texas filtration company as recently as 2020https://scienceblog.com/t-1948-ibm-402-punchcards-sparkler-filters-accounting-2020/Time saved by AI partially canceled out by time spent checking AIhttps://www.accountingtoday.com/news/time-saved-by-ai-partially-cancelled-out-by-time-spent-checking-aiResearch Suggests Jobs May be Safer at Companies that Embrace AIhttps://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 Europehttps://www.hiringlab.org/2026/07/08/ai-is-no-longer-just-a-tech-occupation-story/The 2026 Best Accounting Firms for Technologyhttps://www.accountingtoday.com/list/the-2026-best-accounting-firms-for-technologyNeed CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comMeet Our Guest, Sam Leon, CPALinkedIn: https://www.linkedin.com/in/samuelaaronleon/ Website: https://www.millennialcpa.tax/Website: https://www.taxweave.ai/Get in TouchThanks 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.SponsorshipsAre you interested in sponsoring The Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifieds REFRAME 2026 - http://accountingpodcast.promo/reframe2026Flowglad - https://cal.com/team/flowglad/flowgladWant 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 classi...