Get Rich Doing Bad Audits
The Accounting Podcast
The Rise of Client Accounting Services in Accounting Firms
Exploring the increasing prominence of client accounting services in accounting firms, backed by survey data indicating its rapid growth compared to traditional services. Emphasizing the strategic significance of accounting services in the evolving landscape of the profession.
Blake and David dive into the concerning trend of small CPA firms conducting shoddy audits of large companies and SPACs, raking in big fees while facing minimal consequences for deficient work. They also discuss the latest accounting app funding news, the power of AI for crafting persuasive arguments, and the American Institute of CPAs' puzzling resistance to changes in CPA licensure requirements and touch on the growing importance of client accounting services for public accounting firms.
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Chapters
- (00:38) - Blake is back from a conference in Atlanta
- (03:12) - The truth behind Trump's Truth Social SPAC audit
- (18:41) - AI startup Fieldguide secures $30 million in Series B funding
- (21:57) - FundGuard secures $100 million in Series C funding round
- (23:42) - BotKeeper launches BotKeeper Infinite
- (29:29) - Scientists find that AI is more persuasive than humans at changing people's opinions
- (37:41) - Formula 1 team using Excel to track car parts
- (39:34) - CAS is the fastest-growing service in Accounting Today's annual survey
- (41:34) - The AICPA warns about losing the 150-hour rule
- (48:46) - Send us an email and remember you can earn FREE CPE for listening to this podcast!
Show Notes
Fieldguide Raises $30 Million to Combat CPA Shortage With AI
AI accounting startup raises $100M
https://www.accountingtoday.com/articles/ai-accounting-startup-fundguard-raises-100m-in-new-funds
On the Conversational Persuasiveness of Large Language Models: A Randomized Controlled Trial (PDF)
The year CAS took over
https://www.accountingtoday.com/opinion/the-year-cas-took-over-accounting
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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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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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