Firms Using AI Make More $, PCAOB Shutdown Fight, The Impossible Tariff Test
The Accounting Podcast
Impact of AI Adoption on Firm Revenue and Efficiency
This chapter explores findings from a Rightworks survey on the financial benefits of AI adoption in accounting firms. It reveals that AI users generate significantly more revenue per employee and reports substantial time savings, alongside enhanced service levels through various AI applications.
Could AI create a $20 trillion professional services earthquake? In this episode, Blake and David dive into the data showing that AI firms generate $45,000 more revenue per employee than non-adopters. You'll discover how AI is reshaping traditional accounting and what Claude's new ability to connect with your Gmail and calendar means for productivity. They also demonstrate how indistinguishable AI-cloned voices have become, sharing practical tips to protect yourself and clients from increasingly sophisticated voice scams. Plus, hear why the "impossible" US customs broker exam (with its shocking 4% pass rate) might offer accountants a lucrative alternative career path as tariff disputes heat up.
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Chapters
- (00:37) - The Impact of AI on Accounting Firms
- (02:04) - Voice AI Scams and Protection Tips
- (03:34) - Legislative Updates and Industry News
- (05:44) - Live Stream Shoutouts and Sponsor Acknowledgements
- (06:50) - AI in Accounting: Revenue and Efficiency Insights
- (14:01) - AI Voice Cloning Demonstration
- (16:29) - Protecting Against AI Voice Scams
- (24:12) - AI's Impact on Work and Productivity
- (32:32) - AI in Tax and Accounting Firms
- (38:19) - Success in Contract Drafting
- (38:43) - Starbucks' Automation Reversal
- (41:07) - AI and Productivity Gains
- (53:58) - The Great Legacy Extinction
- (01:08:58) - The Impossible Tariff Test
- (01:13:09) - Private Equity in Accounting Firms
- (01:16:03) - Conclusion and CPE Credits
Show Notes
Firms with AI report higher per-employee revenue vs others
https://www.accountingtoday.com/news/firms-with-ai-report-higher-per-employee-revenue-vs-others
Nine Ways to Protect Yourself from 'Impostor' Voice Scams
https://www.magzter.com/stories/newspaper/The-Wall-Street-Journal/NINE-WAYS-TO-PROTECT-YOURSELF-FROM-IMPOSTOR-VOICE-SCAMS
Danish study challenges claims about AI disrupting the labor market
https://getcoai.com/news/danish-study-challenges-claims-about-ai-disrupting-the-labor-market/
50% of finance teams still take over a week to close the books
https://www.cfo.com/news/50-of-finance-take-week-to-close-books-ledge-month-end-close-time-cfo-three-day-close-myth-/746085/
The Great Legacy Extinction: AI's $20T Takeover of Professional Services
https://www.venrock.com/insights/insights-technology/the-great-legacy-extinction-ais-20t-takeover-of-professional-services/
What Do You Think of the New PwC Logo?
https://www.cpapracticeadvisor.com/2025/04/30/what-do-you-think-of-the-new-pwc-logo/159946/
Big Four accounting firm PwC to slash about 1,500 jobs in the US
https://www.reuters.com/sustainability/accounting-firm-pwc-cut-1500-us-jobs-ft-reports-2025-05-05/
How are different accounting firms using AI?
https://tax.thomsonreuters.com/blog/how-do-different-accounting-firms-use-ai/
Customs Broker License Exam (CBLE)
https://www.cbp.gov/trade/programs-administration/customs-brokers/license-examination-notice-examination
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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
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