Intuit Launches ERP, China Fines PwC, OpenAI's New Model
The Accounting Podcast
The Profit of Sham Audits and the Path to Career Advancement
This chapter explores the unethical practice of sham audits, revealing how auditors can profit from fraud legally without kickbacks. Additionally, it introduces a certification program designed to improve accountants' skills and advance their careers.
Blake and David explore Intuit's new Enterprise Suite, a product that appears to compete with NetSuite in the mid-market ERP space. They also
discuss a major audit failure by PwC in China related to Evergrande, raising concerns about the ethics and integrity at large accounting firms.
They also discuss the tragic death of a young accountant at EY in India due to overwork and explore the implications of OpenAI's latest model
outperforming humans on IQ tests.
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Chapters
- (01:32) - Intuit's New ERP System
- (03:43) - Target Market and Pricing Concerns
- (06:11) - Comparing to Competitors
- (18:18) - PwC's Massive Fine in China
- (19:04) - Evergrande's Financial Collapse
- (26:59) - The Bigger Picture of Audit Quality
- (30:08) - Australian Accountants and the PwC Debacle
- (31:05) - Tragic Death of EY Employee in India
- (33:16) - The Hypocrisy of Overwork in the Big Four
- (40:42) - OpenAI's New Model: A Game Changer
- (49:43) - Driverless Cars: The Future of Transportation
- (53:15) - NASBA's New Competency-Based CPA Pathway
- (01:01:23) - Conclusion and Farewell
Show Notes
Intuit Introduces Intuit Enterprise Suite to Help Businesses Grow, Streamline Operations, and Scale
PwC faces record fine over Evergrande audit in China
https://finance.yahoo.com/news/pwc-faces-record-fine-over-131518742.html
Death of young Ernst & Young employee raises questions about workplace culture
Comparison of Models: Quality, Performance & Price Analysis
https://artificialanalysis.ai/models
Waymo significantly outperforms comparable human benchmarks over 7+ million miles of rider-only driving
AICPA, NASBA propose a new pathway to CPA licensure
https://www.journalofaccountancy.com/news/2024/sep/cpa-competency-based-licensure-pathway.html
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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
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